Balanced scorecard
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Balanced scorecard Presentation Transcript

  • 1. Really Simple BalancedScorecard
  • 2. Textbook examples of Balanced Scorecard are complex
  • 3. Manager’s Toolbox example of Balanced Scorecard is simple
  • 4. 1 A4to prepare 1 slide to communicate 1 A4 to execute
  • 5. insertLearning Acquiring knowledgeperspectiveProcess Summarizing knowledgeperspectiveCustomer :-) Customer satisfactionperspectiveFinancial ¥€$ Profitable growthperspective
  • 6. Textbooks say“Ultimately all causal pathslead to financial measures.”
  • 7. Ultimately all causal paths lead to financial measuresFinancial perspectiveCustomer perspectiveProcess perspectiveLearning perspective
  • 8. That’s an uphill battle!Financial perspectiveCustomer perspectiveProcess perspectiveLearning perspective
  • 9. That’s an uphill battle! Been there,Financial perspective done that!Customer perspectiveProcess perspectiveLearning perspective
  • 10. They stumbled on learning With jeans, sneakers & ¥100 raincoats In really, really, really bad hail storm 1 hour to nearest shelterFinancial perspectiveCustomer perspectiveProcess perspectiveLearning perspective
  • 11. The fundamental questionsFinancial perspective “To succeed financially, how should we appear to our shareholders?”Customer perspective “To achieve our vision, how should we appear to our customers?”Process perspective “To satisfy our shareholders and customers, what business processes must we excel at?”Learning perspective “To achieve our vision, how will we sustain our ability to change and improve?”
  • 12. To achieve our vision,how will we sustain our abilityto change and improve?
  • 13. Manager’s Toolboxturns the perspectivesupside down
  • 14. Learning insert How will we sustain ourperspective ability to change and improve?Process What business processesperspective must we excel at?Customer :-) How should weperspective appear to our customers?Financial ¥€$ How should weperspective appear to our shareholders?
  • 15. Ultimately all causal paths start from learning perspective
  • 16. Ultimately all causal pathsstart from learning perspective Learning perspective Process perspective Customer perspective Financial perspective
  • 17. Coming downhill is fun! Learning perspective Process perspective Customer perspective Financial perspective
  • 18. Actually it is a childs play! My son Learning perspectiveand my daughter ready to show what they’ve learned. Process perspective Customer perspective Financial perspective
  • 19. And business is down there“Let’s take a break down there!” Learning perspective Process perspective Customer perspective Financial perspective
  • 20. Textbook says Balanced Scorecardis a management system
  • 21. And that’s true!
  • 22. Balanced Scorecard is a Management System
  • 23. Not just ameasurement system
  • 24. You do not just measure your heart beat
  • 25. You use the heart rate monitorto manage your exercise
  • 26. In order to Last longer Feel good Improve fitness Control weight …
  • 27. … and to improve learning Rule #1: Exercise boosts brain power Dr. John Medina Brain Rules
  • 28. Textbooks say “Strategy map helpsto communicate strategy.”
  • 29. ?
  • 30. Does this reallyhelp to communicatetheir strategy to you?
  • 31. The Chip brothers call it Curse of Knowledge
  • 32. The Chip brothers call it Curse of KnowledgeTrying to tell you everythingabout every possible strategy,with perfect accuracy,in one page.
  • 33. The Chip brothers call it Curse of KnowledgeTrying to tell you everythingabout every possible strategy,with perfect accuracy,in one page. t Is no tick to s made
  • 34. You need toMake it simple,find the core of the idea,strip the idea downto its most critical essence.
  • 35. You need toMake it simple,find the core of the idea,strip the idea downto its most critical essence. five other + = sticky elements
  • 36. First we need to go back to the basics
  • 37. Mission statementtells you what the company is now
  • 38. “We’re ona mission from God!”
  • 39. “We’re on a mission from God!”Driven by their mission“The Catholic orphanagethey grew up inneeds to pay$5,000 taxesin 11 days,or elseit will be closed.”
  • 40. “We’re on a mission from God!”Driven by their mission They’ll never get caught“The Catholic orphanage bythey grew up in the police,needs to pay ex-girlfriend,$5,000 taxes Country Bob,in 11 days, Good Old Boys,or else Illinois Nazis,it will be closed.” more police, National Guard, SWAT teams.
  • 41. Vision statementoutlines what a companywants to be
  • 42. “Imagine all the people living life in peace!”
  • 43. Well communicated Vision If you imagine, can you hear it?
  • 44. Strategyis a long term plan of actiondesigned to achieve a particulargoal, most often "winning"
  • 45. A map is handy to communicate (=Strategy map) how you plan to get (=Strategy) from where you are (=Mission) to where you want to be (=Vision)
  • 46. Now, let’s make the Strategy mapfor Manager’s Toolbox
  • 47. 1) Take an A4 paper
  • 48. 2) Draw a table
  • 49. 3) Fill in the key words
  • 50. 4) Fill in the Mission Life-long learning
  • 51. 5) Fill in the VisionImproved management and leadership skills
  • 52. 6) Fill in the StrategyTo internalize and summarize the knowledge I need during my management career.
  • 53. 7) Draw the Strategy Map
  • 54. Does this communicate my strategy to you?
  • 55. That was just the beginning…
  • 56. BalancedScorecardis amanagementtool
  • 57. And should be used inmanagement meetings
  • 58. 8) Measures are checked
  • 59. Oops, the measures…
  • 60. Let’s take just one example, but a typically difficult one
  • 61. Customer satisfaction
  • 62. I am the only customer to Manager’s Toolbox and I will be satisfied if
  • 63. People visit my blogand leave comments
  • 64. People visit my blogand leave comments here
  • 65. People visit my blogand leave comments or view my presentations and download them
  • 66. People visit my blogand leave comments or view my presentations and download them here
  • 67. People visit my blogand leave comments or view my presentations and download them here
  • 68. Where were we?
  • 69. Balanced Scorecard is used inmanagement meetings
  • 70. 8) Measures are checked
  • 71. 9) Achievement is checked
  • 72. 10)Trend is followed
  • 73. And last but not least
  • 74. 11)Actions are agreed
  • 75. 8) And again in next meeting
  • 76. That is Manager’s Toolbox’s Really Simple Balanced Scorecard By Samurai
  • 77. 1 A4 to prepare
  • 78. 1 slide to communicate
  • 79. 1 A4 to execute
  • 80. But you need
  • 81. 100%Managementcommitmentto buildand use amanagementsystem