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Implementing Balance Scorecard

Balance Scorecard - Implementation Challenges

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Balanced Scorecard Airline & FMCG -Implementation Anand Subramaniam
To navigate a plane, looking at the fuel indicator is too limited – other factors impact the success of a flight; a cockpit requires a  balanced measuring system !!
Implementation Highlights ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Is this happening at your firm ? Strategic Learning Loop Initiatives & Programs test the hypotheses Output (Results) reporting Management Control Loop funding Input (Resources) update the strategy PERFORMANCE 85% of management teams spend less than one hour per month on strategy issues 92% of organisations do not report on lead indicators 60% of organizations don’t link strategy & budgets 78% of organisations lock budgets to an annual cycle 20% of organisations take more than 16 weeks to prepare a budget STRATEGY BALANCED SCORECARD BUDGET
Strategy Execution Challenges Lack of Organisation Alignment Disjointed Planning and Processes Unclear Vision and Strategy Inability to Test and Adapt Performance “ I’m not sure our resources are allocated against priorities and our best opportunities.” “ We spend too much time and effort creating plans instead of getting value from the planning process” “ Our strategic, operational, and financial plans are not aligned.”  “ Our data is of poor quality and we have disparate systems to report on performance.”  “ We are a collection of silos that do not collaborate.” “ We do not know if our strategy is working until it is too late.” “ We have a strategy, we just can’t explain it that easily.” “ Our leadership team does not agree on our key priorities.” “ Our employees don’t have a clear understanding of what the strategy is and their role in it.” “ We are trying to do 100 things, rather than do 15 critical things well.” “ Recognition and rewards are not based on driving the change we need.” “ We don’t have the right measures.  There are too many of them and we’re not sure which ones to use”
Vision to Outcomes – Conceptual Overview BALANCED SCORECARD Translate, Focus and Align STRATEGIC INITIATIVES What are the priorities MISSION Why we exist VALUES What’s important to us VISION What we want to be STRATEGY Our game plan STRATEGIC OUTCOMES Satisfied SHAREHOLDERS Delighted  CUSTOMERS Efficient & Effective PROCESSES Motivated & Prepared WORKFORCE EMPOWERMENT / PERSONAL OBJECTIVES What I need to do TOTAL QUALITY MANAGEMENT What we must improve
What is a Balance Scorecard (BSC)? The Conclusion Measurement Must Be Linked To Strategy  Strategy Balanced Scorecard Measurement To Communicate, Not To Control Measurement Communicates Values, Priorities & Direction The Premise
BSC Perspectives How can we continually get smarter, innovate, and improve? Knowledge and Innovation Organisational Capacity How can we improve internal processes to improve quality, timeliness, economics, and functionality? Efficiency Internal Process For businesses, how do we create value for owners?  Financial Performance Financial Stewardship Through the eyes of our customers and stakeholders, how will they judge our products and services? Satisfaction Customer/ Stakeholder Key Questions Key Concept Perspective
BSC
Why firm’s implement BSC?  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
My Client’s BSC Implementation Lesson’s Learnt
Challenges before BSC  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Goals seeked ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Benefits achieved ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Lesson’s Learnt / Success Criteria ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Strategy Map designed Learning & Growth Perspective: role for intangible assets – people, systems, climate and culture Improve Shareholder Value Productivity Strategy Revenue Growth Strategy Improve Cost Structure Increase Asset Utilisation Enhance Customer Value Create Value from New Products & Services Human, Information, and Organisational Capital Shareholder Value ROCE ,[object Object],[object Object],[object Object],[object Object],Price Financial Perspective:  drivers of shareholder value Product/Service Attributes Strategic Competencies Strategic Technologies Climate for Action (Processes that Produce and Deliver Products & Services) (Processes that Enhance Customer Value) Operations Theme Customer Management Theme Innovation Theme Regulatory and Society Theme Customer Value Proposition Quality Low Total Cost Customer Solutions Product Leader ,[object Object],[object Object],[object Object],Time Function Service Relations Brand Relationship Image ,[object Object],Customer Perspective:  differentiating value proposition  Internal Perspective: how value is created and sustained (Processes that Create New Products & Services) (Processes that Improve the Environment and Communities)
Example - Internal / Operations Themes  Objective Objective Statement Measure Initiatives ,[object Object],course. ,[object Object],group.  ,[object Object],deployment training across  all modules.  ,[object Object],[object Object],verification, (re) validation, and  (re) accreditation process. ,[object Object],guidance. ,[object Object],[object Object],[object Object],services to our customers through  innovative, cutting edge delivery.  ,[object Object],online and traditional  methods (hard copy, CDs) ,[object Object],service. ,[object Object],Efficiency and  Standardisation ,[object Object],efficiency and get rid of those that don’t. ,[object Object],and procedures from baseline.  ,[object Object],concerning alignment and  duplication of efforts.  ,[object Object],Integration  ,[object Object],integration  ,[object Object],[object Object],integrated program  management plan.  Enhance Training & Development ,[object Object],[object Object],[object Object],[object Object],Internal Perspective
Example - Critical Success Factors  Success Factor    Imp.  Cap.    Supporting Actions Imp. - Importance  1- Minor Relevance  10 - Critical Cap. - Current Capability  1 -  Major Weakness  10 - Best Practice Business-wide clarity on customer needs & concerns 10 3 Customer Focus Groups 0800 complaint line System of ‘Listening Posts’ Effective internal  communications 10 7 Team  Listening structure Intranet Web-sites for all projects 48 hour responses to all project queries Involvement and Participation (I&P) at all levels 8 2 Management workshop on I&P ideas Pilot participative ‘event’ Staff design of business forums Demonstrable support for new culture / ethos 9 6 Regular business forums Team charters at all levels Open access to performance data Process Ownership Infrastructure 7 9 Formal ownership guidelines Regular process owners forums Central process  design repository
Measures & Targets - Example Employee Customer What do we have to do to get there? Financial Process Strategic Goals Measures How do we know if we are achieving our goals? Targets What will we measure our progress against? Vision & Mission What activities are we doing to reach our targets? Initiatives
BSC - Airways  Balanced Scorecard Measurement Target ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Action Plan Initiative Budget ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Total Budget $XXXX ,[object Object],[object Object],[object Object],[object Object],Strategy Map Theme:  Operating Efficiency Objective ,[object Object],[object Object],[object Object],Financial Profits & RONA Grow Revenues Fewer Planes ,[object Object],[object Object],[object Object],Customer Attract & Retain More Customers On-time Service Lowest Prices Fast Ground Turnaround Internal ,[object Object],[object Object],[object Object],[object Object],Learning Strategic Job Ramp Agent Strategic Systems Crew Scheduling Ground Crew Alignment Measure Communicate Execute
Implementation Roadmap Ongoing   Management ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Step 3 Step 4 Step 5 Step 6 Step 2 Step 1 Week  1 2  4    6    8 10 12 14 16 18
Implementation - Steps 1 ~ 3 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Step 1 Develop a Business Case Step 2 Build Strategic Architecture Step 3 Draft a  Strategy Map With Linkages And Themes Step 4 Determine Measures and Targets Step 5 Select Strategic Initiatives Step 6 Plan and implementation Week  2  4    6    8 10 12 14    16 18 Agree upon stretch targets Review and refine themes Refine and rework draft linkages Discuss next steps
Implementation - Step 4 Step 1 Develop a Business Case Step 2 Build Strategic Architecture Step 3 Draft a  Strategy Map With Linkages And Themes Step 4 Determine Measures and Targets Step 5 Select Strategic Initiatives Step 6 Plan and implementation Week  2  4    6    8 10 12 14    16 18 ,[object Object],[object Object],[object Object],[object Object],Refine and validate linkages Review draft measures Design new measures Begin targets discussion Plan for measures development ,[object Object],[object Object],[object Object],[object Object]
Implementation - Step 5 & 6 Step 1 Develop a Business Case Step 2 Build Strategic Architecture Step 3 Draft a  Strategy Map With Linkages And Themes Step 4 Determine Measures and Targets Step 5 Select Strategic Initiatives Step 6 Plan and implementation Week  2  4    6    8 10 12 14    16 18 Review and validate linkages and measures Review existing initiatives Brainstorm new initiatives Align/ rationalise initiatives to themes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Project Organisation  Vendor  Engagement Manager (part-time) Executive Sponsor/ Steering Committee Vendor Project Team 1-2 Consultants (full-time) Client Core Team Staff knowledgeable of business strategies and organisation Vendor Project Leader (full-time) Client Project Leader Executive Leadership Team ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Lessons Learnt ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Lessons Learnt (Contd.)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Lessons Learnt (Contd.)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Lessons Learnt (Contd.)
ROI & BSC ,[object Object],[object Object]
Take Away ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object]

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Implementing Balance Scorecard

  • 1. Balanced Scorecard Airline & FMCG -Implementation Anand Subramaniam
  • 2. To navigate a plane, looking at the fuel indicator is too limited – other factors impact the success of a flight; a cockpit requires a balanced measuring system !!
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  • 4. Is this happening at your firm ? Strategic Learning Loop Initiatives & Programs test the hypotheses Output (Results) reporting Management Control Loop funding Input (Resources) update the strategy PERFORMANCE 85% of management teams spend less than one hour per month on strategy issues 92% of organisations do not report on lead indicators 60% of organizations don’t link strategy & budgets 78% of organisations lock budgets to an annual cycle 20% of organisations take more than 16 weeks to prepare a budget STRATEGY BALANCED SCORECARD BUDGET
  • 5. Strategy Execution Challenges Lack of Organisation Alignment Disjointed Planning and Processes Unclear Vision and Strategy Inability to Test and Adapt Performance “ I’m not sure our resources are allocated against priorities and our best opportunities.” “ We spend too much time and effort creating plans instead of getting value from the planning process” “ Our strategic, operational, and financial plans are not aligned.” “ Our data is of poor quality and we have disparate systems to report on performance.” “ We are a collection of silos that do not collaborate.” “ We do not know if our strategy is working until it is too late.” “ We have a strategy, we just can’t explain it that easily.” “ Our leadership team does not agree on our key priorities.” “ Our employees don’t have a clear understanding of what the strategy is and their role in it.” “ We are trying to do 100 things, rather than do 15 critical things well.” “ Recognition and rewards are not based on driving the change we need.” “ We don’t have the right measures. There are too many of them and we’re not sure which ones to use”
  • 6. Vision to Outcomes – Conceptual Overview BALANCED SCORECARD Translate, Focus and Align STRATEGIC INITIATIVES What are the priorities MISSION Why we exist VALUES What’s important to us VISION What we want to be STRATEGY Our game plan STRATEGIC OUTCOMES Satisfied SHAREHOLDERS Delighted CUSTOMERS Efficient & Effective PROCESSES Motivated & Prepared WORKFORCE EMPOWERMENT / PERSONAL OBJECTIVES What I need to do TOTAL QUALITY MANAGEMENT What we must improve
  • 7. What is a Balance Scorecard (BSC)? The Conclusion Measurement Must Be Linked To Strategy Strategy Balanced Scorecard Measurement To Communicate, Not To Control Measurement Communicates Values, Priorities & Direction The Premise
  • 8. BSC Perspectives How can we continually get smarter, innovate, and improve? Knowledge and Innovation Organisational Capacity How can we improve internal processes to improve quality, timeliness, economics, and functionality? Efficiency Internal Process For businesses, how do we create value for owners? Financial Performance Financial Stewardship Through the eyes of our customers and stakeholders, how will they judge our products and services? Satisfaction Customer/ Stakeholder Key Questions Key Concept Perspective
  • 9. BSC
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  • 11. My Client’s BSC Implementation Lesson’s Learnt
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  • 18. Example - Critical Success Factors Success Factor Imp. Cap. Supporting Actions Imp. - Importance 1- Minor Relevance 10 - Critical Cap. - Current Capability 1 - Major Weakness 10 - Best Practice Business-wide clarity on customer needs & concerns 10 3 Customer Focus Groups 0800 complaint line System of ‘Listening Posts’ Effective internal communications 10 7 Team Listening structure Intranet Web-sites for all projects 48 hour responses to all project queries Involvement and Participation (I&P) at all levels 8 2 Management workshop on I&P ideas Pilot participative ‘event’ Staff design of business forums Demonstrable support for new culture / ethos 9 6 Regular business forums Team charters at all levels Open access to performance data Process Ownership Infrastructure 7 9 Formal ownership guidelines Regular process owners forums Central process design repository
  • 19. Measures & Targets - Example Employee Customer What do we have to do to get there? Financial Process Strategic Goals Measures How do we know if we are achieving our goals? Targets What will we measure our progress against? Vision & Mission What activities are we doing to reach our targets? Initiatives
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