The balanced scorecard is a very useful tool in measuring performance within an organization and also for communicating an organization's strategic plan to it's employees. This slides will provide HR enthusiasts and professionals with a basic knowledge of what a balanced scorecard is and basic steps to develop one.
The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. In this presentation, you will learn the principles of Balanced Scorecard and you will explore the core processes of this system.
The Balanced Scorecard is a strategic planning and management system used to align business activities to the vision and strategy of the organization by monitoring performance against strategic goals.
Kaplan and Norton's Balanced Scorecard approach encourages businesses to analyze and report performance based on four key perspectives - financial, customers, internal processes and organisational capacity.
This short presentation provides an overview of the balanced scorecard model.
Organizations that use a Balanced Scorecard approach tend to outperform organizations without a formal approach to strategic performance measurement
- World-class companies are 159% more likely to have mature BSC in place than less successful organizations
- Among 164 publicly traded companies, those with well-deployed BSC outperformed the control group by nearly 30% (Advances in Accounting, 2008)
- Organizations using BSC outperform the other companies by about 100 percent in having everyone in the organization understand what the organization's strategy is (Norton, The Strategy-Focused Organization, 2000)
The balanced scorecard is a very useful tool in measuring performance within an organization and also for communicating an organization's strategic plan to it's employees. This slides will provide HR enthusiasts and professionals with a basic knowledge of what a balanced scorecard is and basic steps to develop one.
The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. In this presentation, you will learn the principles of Balanced Scorecard and you will explore the core processes of this system.
The Balanced Scorecard is a strategic planning and management system used to align business activities to the vision and strategy of the organization by monitoring performance against strategic goals.
Kaplan and Norton's Balanced Scorecard approach encourages businesses to analyze and report performance based on four key perspectives - financial, customers, internal processes and organisational capacity.
This short presentation provides an overview of the balanced scorecard model.
Organizations that use a Balanced Scorecard approach tend to outperform organizations without a formal approach to strategic performance measurement
- World-class companies are 159% more likely to have mature BSC in place than less successful organizations
- Among 164 publicly traded companies, those with well-deployed BSC outperformed the control group by nearly 30% (Advances in Accounting, 2008)
- Organizations using BSC outperform the other companies by about 100 percent in having everyone in the organization understand what the organization's strategy is (Norton, The Strategy-Focused Organization, 2000)
Balanced Scorecards tell you the knowledge, skills and systems that your employees will need (learning and growth) to innovate and build the right strategic capabilities and efficiencies (internal processes) that deliver specific value to the market (customer) which will eventually lead to higher shareholder value (financial).
Balanced Scorecard, A Comprehensive Guide Upendra K
The Balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action.
Provides an organization with feedback of both the internal business processes and external outcomes, which allows for continuous improvement of strategic performance and results.
Nerve center of an enterprise
The term “scorecard” signifies quantified performance measures and “balanced” signifies the system is balanced between:
Short-term and long term objectives
Financial and non-financial measures
Lagging and leading indicators
Internal and external performance perspectives
The concept of the balanced scorecard was first touted in the Harvard Business Review in 1992 in a paper written by Robert S Kaplan and David P Norton.
The paper introduced the idea of focusing on human issues as well as financial ones, and measuring performance across a much wider spectrum than businesses had done before.
Kaplan and Norton published their ideas in full in The Balanced Scorecard: Translating Strategy into Action in 1996 and it became a business bestseller.
The balanced scorecard is centered on four performance metrics or perspectives:
Customers
Internal processes
Financial
Learning and growth
When implemented properly, each one of these perspectives contains four subparts consisting of
Objectives
Measures
Targets
Initiatives
I have used this presentation to help small companies get an understanding how to setup a strategy that is user friendly and can apply to their project model
Strategic planning is an art of formulating strategies, implementing and evaluating them. Equipping leaders and managers with skills such as problem solving, communication,critical thinking, decision making and leadership that are required to plan strategically in a competitive business environment.
Auraa Image Management and Consulting specializes in training leaders, managers and their teams to develop a growth oriented mindset and hone their skills to formulate and execute strategic business objectives.
If your organization is unable to achieve the expected desired results, it may be time to rethink the organizational strategy. Connect with us and learn how to strategically plan for success.
Contact: +91 9958934766 / +91 7830222285
Email: samira@auraaimage.com / nayanika@auraaimage.com
Website: https://auraaimage.com / https://samiragupta.com/
Webinar: The Balanced Scorecard What Does It Mean And How To Implement ItAli Zeeshan
For other Informa Webinars: http://www.informa-mea.com/webinars
To view recording: https://youtu.be/4RQF-oUMgcw or watch the video at end of the slide
This webinar is designed as a practical guide to using the Balanced Scorecard.
The Balanced Scorecard is a system used extensively in business and industry, government, and non-profit organisations worldwide to align business activities to the vision and strategy of the organisation, improve internal and external communications, and monitor organisation
performance against strategic goals.
The Balanced Scorecard was originated by Drs Robert Kaplan (Harvard Business School) and David Norton as a framework to help managers consider both financial and non-financial aspects of their business and design performance metrics around them.
While the phrase Balanced Scorecard was coined in the early 1990s, the roots of this type of approach are deep, and include the pioneering work of General Electric on performance measurement reporting in the 1950s and the work of French process engineers (who created the Tableau
de Bord – literally, a "dashboard" of performance measures) in the early part of the 20th century.
About the Presenter:
Ian has over 30 years of business experience ranging from senior management positions, in such companies as Ericsson to founding and selling his own companies. Ian designs and delivers training programmes globally with particular attention to the GCC nations. He works in many
fields including both accredited and non-accredited courses.
Ian divides his time equally between the Middle East and the UK. In the UK, Ian is a lead professor at London Met University and the University of West London specialising in working with students to gain their membership to the Chartered Institute of Procurement and Supply.
What ISO Management Systems can learn from Balanced Scorecard?PECB
Balanced Scorecard is a Strategy Management System developed by Professors Kaplan and Norton. It is probably the most comprehensive system/tool in the modern world. It allows an organization balance its Strategy across 4 perspectives (Financial, Customer, Internal Process and Learning and Growth Perspectives). It further lets an organization break down each of these 4 perspectives based on 4 criteria which are Objectives, Measures, Target and Initiatives. There is a lot that ISO Implementers and Auditors need to learn from a Balanced Scorecard that will help in better delivering ISO engagements. This webinar will take a critical look at what is Balanced Scorecard and what ISO Consultants need to know to about it.
Main points covered:
• What is a Balance Scorecard?
• How Balance Scorecard allows organization to balance its Strategy across 4 perspectives (Financial, Customer, Internal Process and Learning and Growth Perspectives)
• How an organization breaks down each 4 perspective based on 4 criteria (Objectives, Measures, Target and Initiatives)
Presenter:
This webinar was presented by Orlando Olumide Odejide, who is the Chief Trainer for Training Heights Limited. Orlando is an experienced Enterprise Architect and Programme Director working on various technology solutions including SharePoint, SQL Server, Oracle, SAP, Odoo and Qlikview Technologies for clients in the Financial Services, Government and Manufacturing Sectors.
Link of the recorded session published on YouTube: https://youtu.be/XPPj9XhXl0s
Aashman Foundation Summer Internship .docxAmanHamza4
The internship opportunity I had with “Aasmaan Foundation” was a great chance for learning and professional development. Therefore, I consider myself a very lucky individual as I was provided with an opportunity to be a part of it. I am also grateful for having a chance to meet so many wonderful people and professionals who led me though this internship period.
I am using this opportunity to express my deepest gratitude and special thanks to “Munish Pundir” “Director “who despite being extraordinarily busy with “her/his” duties, took time out to hear, guide, and keep me on the correct path and allowing me to carry out my internship at their esteemed organization.
I further want to thank Prof. Shikha Gera, who helped me to better understand concepts of professionalism and become a better person and employee in my life.
I would also like to thank my parents and friends who helped me a lot during my life and this internship period. I perceive this opportunity as a big milestone in my career development. I will strive to use gained skills and knowledge in the best possible way, and I will continue to work on their improvement, to attain desired career objectives. Hope to continue cooperation with all of you in the future.
Accelerating AI Integration with Collaborative Learning - Kinga Petrovai - So...SocialHRCamp
Speaker: Kinga Petrovai
You have the new AI tools, but how can you help your team use them to their full potential? As technology is changing daily, it’s hard to learn and keep up with the latest developments. Help your team amplify their learning with a new collaborative learning approach called the Learning Hive.
This session outlines the Learning Hive approach that sets up collaborations that foster great learning without the need for L&D to produce content. The Learning Hive enables effective knowledge sharing where employees learn from each other and apply this learning to their work, all while building stronger community bonds. This approach amplifies the impact of other learning resources and fosters a culture of continuous learning within the organization.
Balanced Scorecards tell you the knowledge, skills and systems that your employees will need (learning and growth) to innovate and build the right strategic capabilities and efficiencies (internal processes) that deliver specific value to the market (customer) which will eventually lead to higher shareholder value (financial).
Balanced Scorecard, A Comprehensive Guide Upendra K
The Balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action.
Provides an organization with feedback of both the internal business processes and external outcomes, which allows for continuous improvement of strategic performance and results.
Nerve center of an enterprise
The term “scorecard” signifies quantified performance measures and “balanced” signifies the system is balanced between:
Short-term and long term objectives
Financial and non-financial measures
Lagging and leading indicators
Internal and external performance perspectives
The concept of the balanced scorecard was first touted in the Harvard Business Review in 1992 in a paper written by Robert S Kaplan and David P Norton.
The paper introduced the idea of focusing on human issues as well as financial ones, and measuring performance across a much wider spectrum than businesses had done before.
Kaplan and Norton published their ideas in full in The Balanced Scorecard: Translating Strategy into Action in 1996 and it became a business bestseller.
The balanced scorecard is centered on four performance metrics or perspectives:
Customers
Internal processes
Financial
Learning and growth
When implemented properly, each one of these perspectives contains four subparts consisting of
Objectives
Measures
Targets
Initiatives
I have used this presentation to help small companies get an understanding how to setup a strategy that is user friendly and can apply to their project model
Strategic planning is an art of formulating strategies, implementing and evaluating them. Equipping leaders and managers with skills such as problem solving, communication,critical thinking, decision making and leadership that are required to plan strategically in a competitive business environment.
Auraa Image Management and Consulting specializes in training leaders, managers and their teams to develop a growth oriented mindset and hone their skills to formulate and execute strategic business objectives.
If your organization is unable to achieve the expected desired results, it may be time to rethink the organizational strategy. Connect with us and learn how to strategically plan for success.
Contact: +91 9958934766 / +91 7830222285
Email: samira@auraaimage.com / nayanika@auraaimage.com
Website: https://auraaimage.com / https://samiragupta.com/
Webinar: The Balanced Scorecard What Does It Mean And How To Implement ItAli Zeeshan
For other Informa Webinars: http://www.informa-mea.com/webinars
To view recording: https://youtu.be/4RQF-oUMgcw or watch the video at end of the slide
This webinar is designed as a practical guide to using the Balanced Scorecard.
The Balanced Scorecard is a system used extensively in business and industry, government, and non-profit organisations worldwide to align business activities to the vision and strategy of the organisation, improve internal and external communications, and monitor organisation
performance against strategic goals.
The Balanced Scorecard was originated by Drs Robert Kaplan (Harvard Business School) and David Norton as a framework to help managers consider both financial and non-financial aspects of their business and design performance metrics around them.
While the phrase Balanced Scorecard was coined in the early 1990s, the roots of this type of approach are deep, and include the pioneering work of General Electric on performance measurement reporting in the 1950s and the work of French process engineers (who created the Tableau
de Bord – literally, a "dashboard" of performance measures) in the early part of the 20th century.
About the Presenter:
Ian has over 30 years of business experience ranging from senior management positions, in such companies as Ericsson to founding and selling his own companies. Ian designs and delivers training programmes globally with particular attention to the GCC nations. He works in many
fields including both accredited and non-accredited courses.
Ian divides his time equally between the Middle East and the UK. In the UK, Ian is a lead professor at London Met University and the University of West London specialising in working with students to gain their membership to the Chartered Institute of Procurement and Supply.
What ISO Management Systems can learn from Balanced Scorecard?PECB
Balanced Scorecard is a Strategy Management System developed by Professors Kaplan and Norton. It is probably the most comprehensive system/tool in the modern world. It allows an organization balance its Strategy across 4 perspectives (Financial, Customer, Internal Process and Learning and Growth Perspectives). It further lets an organization break down each of these 4 perspectives based on 4 criteria which are Objectives, Measures, Target and Initiatives. There is a lot that ISO Implementers and Auditors need to learn from a Balanced Scorecard that will help in better delivering ISO engagements. This webinar will take a critical look at what is Balanced Scorecard and what ISO Consultants need to know to about it.
Main points covered:
• What is a Balance Scorecard?
• How Balance Scorecard allows organization to balance its Strategy across 4 perspectives (Financial, Customer, Internal Process and Learning and Growth Perspectives)
• How an organization breaks down each 4 perspective based on 4 criteria (Objectives, Measures, Target and Initiatives)
Presenter:
This webinar was presented by Orlando Olumide Odejide, who is the Chief Trainer for Training Heights Limited. Orlando is an experienced Enterprise Architect and Programme Director working on various technology solutions including SharePoint, SQL Server, Oracle, SAP, Odoo and Qlikview Technologies for clients in the Financial Services, Government and Manufacturing Sectors.
Link of the recorded session published on YouTube: https://youtu.be/XPPj9XhXl0s
Aashman Foundation Summer Internship .docxAmanHamza4
The internship opportunity I had with “Aasmaan Foundation” was a great chance for learning and professional development. Therefore, I consider myself a very lucky individual as I was provided with an opportunity to be a part of it. I am also grateful for having a chance to meet so many wonderful people and professionals who led me though this internship period.
I am using this opportunity to express my deepest gratitude and special thanks to “Munish Pundir” “Director “who despite being extraordinarily busy with “her/his” duties, took time out to hear, guide, and keep me on the correct path and allowing me to carry out my internship at their esteemed organization.
I further want to thank Prof. Shikha Gera, who helped me to better understand concepts of professionalism and become a better person and employee in my life.
I would also like to thank my parents and friends who helped me a lot during my life and this internship period. I perceive this opportunity as a big milestone in my career development. I will strive to use gained skills and knowledge in the best possible way, and I will continue to work on their improvement, to attain desired career objectives. Hope to continue cooperation with all of you in the future.
Accelerating AI Integration with Collaborative Learning - Kinga Petrovai - So...SocialHRCamp
Speaker: Kinga Petrovai
You have the new AI tools, but how can you help your team use them to their full potential? As technology is changing daily, it’s hard to learn and keep up with the latest developments. Help your team amplify their learning with a new collaborative learning approach called the Learning Hive.
This session outlines the Learning Hive approach that sets up collaborations that foster great learning without the need for L&D to produce content. The Learning Hive enables effective knowledge sharing where employees learn from each other and apply this learning to their work, all while building stronger community bonds. This approach amplifies the impact of other learning resources and fosters a culture of continuous learning within the organization.
Watch this expert-led webinar to learn effective tactics that high-volume hiring teams can use right now to attract top talent into their pipeline faster.
2. 2
The Balanced Scorecard
Agenda
History
Definition
What is it?
Why do it?
Strategic Focus Organization
The Four Perspectives
Measures, Targets and Initiatives
Team Leader and Core Team
3. 3
The Balanced Scorecard
History?
The Balanced Scorecard was developed and first used at
Analog Devices in 1987, by focusing not only on
financial outcomes but also on the human issues.
In 1992, Robert Kaplan and David Norton began
publicizing the BSC through series of journal articles and
then in the 1996 book The Balanced Scorecard.
BSC have become a fertile field of theory and research
& many practitioners have diverted from the original.
4. 4
The Balanced Scorecard
Definition?
The Balanced Scorecard is a management tool
that provides stakeholders with a
comprehensive measure of how the
organization is progressing towards the
achievement of its strategic goals.
5. 5
The Balanced Scorecard
What is it?
Balances financial and non-financial measures.
Balances short and long-term measures.
Balances performance drivers (leading
indicators) with outcome measures
Should contain just enough data to give a
complete picture of organizational
performance… and no more!
Leads to strategic focus and organizational
alignment.
6. 6
The Balanced Scorecard
Why do it?
To achieve strategic objectives
To provide quality with fewer resources
To eliminate non-value added efforts
To align customer priorities and expectations
To track progress
To evaluate process changes
To continually improve
To increase accountability
7. 7
The Balanced Scorecard
Strategy Focused Organization
Mission: What we do
Vision: What we aspire to be
Strategies: How we accomplish our goals
Measures: Indicators of our progress
9. 9
The Balanced Scorecard
Five Keys to BSC?
1. Translate the strategy to operational terms
2. Align the organization to the strategy
3. Make strategy everyone’s job
4. Make strategy a continual process
5. Mobilize change through executive leadership
11. 11
FINANCIAL/REGULATORY
To satisfy our constituents,
what financial & regulatory
objectives must
we accomplish?
CUSTOMER
To achieve our vision,
what customer needs must
we serve?
Quality
To satisfy our customers and
stakeholders, in which business
processes must we excel?
People
To achieve our goals, how
must we learn, communicate
and grow?
The Balanced Scorecard
12. 12
The Balanced Scorecard
Possible Performance Measures
Cost / Unit
Unfunded Requirements or Projects
Cost of Service (doing business)
Budget Projections and Targets
Financial Perspective
To satisfy our constituents, what financial and regulatory
objectives must we accomplish?
13. 13
The Balanced Scorecard
Possible Performance Measures
Customer Satisfaction Index (Average)
Satisfaction Gap Analysis (Satisfaction vs.
Level of Importance)
Satisfaction Distribution (% of each area scored)
Customer Perspective
To achieve our vision, what customer needs must we
serve?
14. 14
The Balanced Scorecard
Possible Performance Measures
Cycle Time
Completion Rate
Workload and Employee Utilization
Transactions per employee
Errors or Rework ratio
Quality Perspective
To satisfy our customers, in which business processes must
we excel?
15. 15
The Balanced Scorecard
Possible Performance Measures
Employee Satisfaction
Retention and Turnover (stability ratio)
Training Hours and Resources
Technology Investment
People Perspective
To achieve our goals and accomplish core activities, how
must we learn, communicate and work together?
16. 16
The Balanced Scorecard
Why Measure
• To determine how effectively and efficiently
the process or service satisfies the customer
• To identify improvement opportunities
• To make decisions based on FACT and
DATA
17. 17
The Balanced Scorecard
Measurement Should
• Translate customer expectations into goals
• Evaluate the quality of processes
• Track our improvement
• Focus our efforts on our customers
• Support our strategies
18. 18
The Balanced Scorecard
Good Performance Measures:
• Provide a way to see if our strategy is working
• Focus employees’ attention on what matters
most to success
• Allow measurement of accomplishments, not just
of the work that is performed
• Provide a common language for communication
• Are valid to ensure measurement of the right
things
20. 20
The Balanced Scorecard
Targets
• Targets need to be set for all measures
• Give personnel something for which to aim
(WIIFM)
• If achieved will transform the organization
• Careful not to develop measures/targets in
a fragmented approach:
i.e. Asking people to increase customer satisfaction has to
be backed up with the knowledge, tools, and means to
achieve that target.
21. 21
Initiatives
Once measures and targets are established, it
is the responsibility of management to
determine HOW the organization will achieve
its goals.
Measures are used to determine the
effectiveness of strategic initiatives
The Balanced Scorecard
22. 22
The Balanced Scorecard
The Leader Team
Develops the division’s vision, strategy and
goals
Develops organizational objectives and
targets
Provides leadership, endorsement and vision
for the project
Clears barriers to scorecard progress
23. 23
The Balanced Scorecard
The Core Team
Drafts the strategy map and scorecard
Works with employees to develop measures
supporting strategic objectives
Works with the Leadership Team to plan and
implement the Balanced Scorecard