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Balanced Scorecard for MBA institute
 

Balanced Scorecard for MBA institute

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Scorecard, Performance, MBA, HRM, HRD, OB, OD, Leadership, Strategy,

Scorecard, Performance, MBA, HRM, HRD, OB, OD, Leadership, Strategy,

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    Balanced Scorecard for MBA institute Balanced Scorecard for MBA institute Document Transcript

    • Certified ScorecardProfessionalM M Bagali, PhD Bagali,Professor of Strategic HRM,Brand Ambassador, Asian HR Board, Indiasanbag@rediffmail.com / sanbagsanbag@rediffmail.comhttp://www.linkedin.com/in/mmbagali[Type the document subtitle][Type the abstract of the document here. The abstract istypically a short summary of the contents of the document.Type the abstract of the document here. The abstract istypically a short summary of the contents of thedocument.]Administrator[Pick the date]
    • Reference No: 9800210045 Project on Certified Scorecard Professional Bagali, M M Bagali, PhD Professor of Strategic HRM, Brand Ambassador, Asian HR Board, Indiasanbag@rediffmail.com / sanbagsanbag@rediffmail.com http://www.linkedin.com/in/mmbagali January, 2011 2 Page
    • AHRB Fellowship Project on Certified Scorecard ProfessionalCurrent Performance SystemPerformance is the output of the work performed. The output can be in terms of tangible(which can be measured in terms of returns), and it could be intangible (which can be felt).The output of the person depends on various factors, viz: The Management, The systems, TheGovernance and The practices at workplace. Even, capturing the outcome of performancevaries from organization to organization.Step 1:The present project is undertaken in academic setting, at New Horizon College ofEngineering. The performance of faculty during the semester teaching is done at three levels: a) Students giving formal feed back on the teaching for that particular semester. b) The feed back is consolidated and discussed with HR. c) The final calculation will be taken by the top management on the performance.Students Feedback:A formal feed back form is given to all the students to analyze the effectiveness of theteaching. Each student is given enough time to react on the parameters and how did they feeland wish to evaluate the concerned faculty`s performance. The main objective of having suchsystem is to a) know how the course was carried 3 Page
    • b) the effectiveness of the course teaching c) the level of interaction happened d) the improvement areas and e) Finally, to look at the overall performance of the teacher in line with the course objectives, per se. The feed back formThe ratings are done on 5 scales vizPoor – 1 Fair – 2 Good – 3 V.Good – 4 Excellent – 5# PARAMETERS F1 F2 F3 F4 F5 F6 F7 F8 F9 F10a Clarity in explaining the subjectsb Subject explained was easy to understandc Content quality is relevant & usefuld Faculty answers to your queries & questionse Coverage of topic / subject is on timef The concepts were explained with examplesg Faculty’s preparation for the classh Faculty guidance for preparation of seminar, conference & exami Punctuality of the faculty for the classj Communicates distinctly and effectivelyk Treats students with respect & courtesyl Control of the classroom by the faculty 4 Page
    • m Relevance of assignments to the subjectn Overall satisfactionDiscussion with the HROnce the entire exercise of students feed back is consolidated, the cumulative scores on eachparameter is taken. The discussion with the HR head and the Head of the Department foreach faculty is done. The focus of discussion is as follows: a) A thorough analysis of feedback on each parameter is done. b) Causes for good performance and causes for poor performance is analysed. c) Which area(s) has to be addressed and what has to be done. d) If the scores are too poor, there will be question on retention / layoff of the person. e) If the scores are too good, what incentives / benefits have to be given.Discussion with Top Management:The focus of top management is to see that the performance, are in par with organizationsstandard. If the person’s performance is good, incentives are declared and if the performanceis to be addressed, further training or TNA is addressed. In worst cases, if the performance ispoor or too poor, then the person is asked to leave the organization.Few issues with current performance system: a) How valid are the assessment done by the students. b) Should regular students above 85% attendance be eligible to give feedback. c) Should there be oral feedback’ 5 Page
    • d) Do students really understand the depth and logic of all the parameters in the feed back form. e) Does faculty given enough time to improve, since there are all levels of experienced faculty been evaluated same.Step 2:The balance score card for the management department.The present balance score card is devised on the four perspectivesA) FINANCIAL PERSPECTIVES: The focus here is to get the best of the best students for the management program. Objectives: a) How the management program has to be pictured and branded? b) What should be strategy to approach students to reach for maximum returns?Performance Measures: Log Measures Lead Measuresa How many applications came? a What proposal was written with financial returns?b How many applied for the programme? b. The Mentoring and counseling clove during admissionsc. How many are satisfied with the charges? Targets Measuresa. How many applied? a. Revenue on the applicationb. How many leads and were converted? b. Revenue on the admissionc. How many actually applied in numbers? c. How much cash flow due to admission?Initiatives: a. How the advertisement has to be? b. Where to participate in Educational Fairs? c. Who should make presentation, who should do counseling? 6 Page
    • B) INTERNAL BUSINESS PROCESSThe focus here is to have those systems, which makes a good impact on incoming studentsand make the system fast and speed for the delivery.Objectives: a) How to have workplace practices for leaving good impression on stake holders – students, parents and community at large?Performance Measures Log Measures Lead Measures1 How many parents and students were 1 Was the system in time in satisfying all Satisfied with the services? necessary information to the students? Targets Measures1 How many were finally converted 1 How many enquiries for the admission? into prospective admissions?2 How was the win rate converted 2 How many enquiries were on line and through into prospective admission? web-site. 3 How many were satisfied?Initiatives: a. How Professional were the customers dealt? b. Was the service available at workplace / office? c. Learning and Growth The focus here is to look at the human resources available for doing the given task. 7 Page
    • C) LEARNING AND GROWTHThe focus here is to look at the human resources available for doing the given task.Objectives:a) What skills and competency required demonstrating the efficiency and effectiveness?b) What self personality should be reflected during the course of interaction with the customers?C) PERFORMANCE MEASURES: Log Measures Lead Measuresa) How many are satisfied and have growth a) What factors are responsible for perspective attitude? satisfaction?b) How well was the effectiveness of b) Was the communication properly communication, thus leading to satisfaction? focused? Targets Measures1 How many were satisfied? 1 Employee suggestions given.2 How was the knowledge generated? 2 Value added per employee.3 What was the out come or the productivity? 3 Generating knowledge and managing Knowledge.Initiatives: a) What was the motivation level and the index? b) How were the empowerment practices undertaken? 8 Page
    • D) CUSTOMERSThe focus here is to have a good and ever lasting impression for the customers.Objectives: a) What makes best impression on customers? b) How do we need to project for customers? Log Measures Lead Measuresa How were the customers satisfied? a What factors caused satisfaction amongst customers?b What was the total revenue generated at b. What we did to get revenue generated? the end?c What was the Annual Customers turn over? Targets Measures1 How many were converted finally? 1 Customer satisfaction2 What was the cost at the end? 2 The Win Rates 3 The brand recognitionInitiatives: 9 Page
    • a) How were the complaints taken and resolved? b) How much time it took for one customer interaction? c) How many were new customer and how many were repeat enquiries?Step 3:The Balance Scorecard on all the four perspectives is devised. Since, the BalanceScorecard is done for MBA department, the cascading will be done for faculty andsupporting of MBA department. Here, the cascading is done for MBA department only, withmeasures, initiatives, etc.Kindly note that, this cascading is done “within” the department, and not amongst any otherdepartmentDEPARTMENT LEVELA Financial PerspectiveObjective How to brand the department and the management program?Measures What will be each faculty role and responsibility in generating the leads for admission?Targets How many got finally converted into admissions? 10 Page
    • Initiatives How many presentation done? How many counselling sessions conducted?B Internal Business ProcessObjective How much time it took with each customer?Measures How was the interaction session with students conducted?Targets How many were impressed by the interaction and finally decided to get admitted?Initiatives What was the time given / utilized for each interaction?C Learning and GrowthObjective What competency each faculty should have (each faculty possess)?Measures What value did faculty bring during admissions?Targets What knowledge was transpired and customers were satisfied?Initiatives What was the Learning and Knowledge generated?D CustomerObjective How the faculty could make the best impression and appeared to customer?Measures How many customers were satisfied due to interaction?Targets What percentage customers were converted finally?Initiatives What strategy was used to make customer (students) delight to take admission? 11 Page
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