The document discusses managing corporate performance using a balanced scorecard approach. It introduces the balanced scorecard framework which includes four perspectives: financial, customer, internal business processes, and learning and growth. It then provides details on each perspective, including examples of strategic objectives and key performance indicators that could be used. The document also discusses how corporate scorecards can be cascaded down to create balanced scorecards at divisional and functional levels like HR, IT, finance, and marketing. Strategy maps are presented as a tool to translate strategies into objectives and measures across the four perspectives.
Strategic Human Resource Management Lecture 1RECONNECT
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“..the starting point for enterprises wishing to manage their human capital successfully and seeking a labour competitive advantage is activities of the HR department.”
In today’s economic environment, identifying and attracting high-potential employees can give employers an edge on their competition and set up their organizations for future success. This white paper:
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Offers steps HR and talent management professionals can take to establish an effective high-potential talent identification program.
Identifies the competencies leading organizations are seeking in high-potential talent.
Discusses other factors HR and talent management professionals should consider when identifying high-potential talent.
“..the starting point for enterprises wishing to manage their human capital successfully and seeking a labour competitive advantage is activities of the HR department.”
In today’s economic environment, identifying and attracting high-potential employees can give employers an edge on their competition and set up their organizations for future success. This white paper:
Provides background on high-potential talent.
Offers steps HR and talent management professionals can take to establish an effective high-potential talent identification program.
Identifies the competencies leading organizations are seeking in high-potential talent.
Discusses other factors HR and talent management professionals should consider when identifying high-potential talent.
THE TIME SAVING BENEFITS OF USING BALANCED SCORE CARD AT THE WORKPLACE Abraham Ncunge
Balanced Score card is applied by organizations to promote performance and productivity through efficiency and effective management by embracing Strategic Management
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.
Balances financial and non-financial measures
Balances short and long-term measures
Balances performance drivers (leading indicators) with outcome measures (lagging indicators)
Leads to strategic focus and organizational alignment.
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.
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
Putting the SPARK into Virtual Training.pptxCynthia Clay
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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2. 2www.exploreHR.org
You can download this presentation at:
www.exploreHR.org
Visit www.exploreHR.org for more
presentations on HR management and
people strategy
3. 3www.exploreHR.org
Contents :Contents :
1. Corporate Performance Scorecard
2. Strategy Map Framework
3. Four Perspectives in Balanced Scorecard
4. Identifying Key Performance Indicators
5. Strategy Map in Corporate Functions (HR, IT,
Finance and Marketing)
6. 6www.exploreHR.org
Three critical components for effective process of
performance management
Performance
Management
Infrastructure
Performance
Management
Culture
Performance
Management
Process
Performance management
cycle is continuous and
consistent
Culture that is based
on performance
accountability
Logistic support and
performance management
administration
Performance Management ComponentPerformance Management Component
8. 8www.exploreHR.org
Managing Performance withManaging Performance with
Balanced ScorecardBalanced Scorecard
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.
9. 9www.exploreHR.org
• Balances financial and non-financial measures
• Balances short and long-term measures
• Balances performance drivers (leading indicators)
with outcome measures (lagging indicators)
• Leads to strategic focus and organizational
alignment.
Managing Performance withManaging Performance with
Balanced ScorecardBalanced Scorecard
10. 10www.exploreHR.org
4 Perspectives in Balanced Scorecard4 Perspectives in Balanced Scorecard
If we succeed, how will
we look to our
shareholders?
Financial Perspective
To achieve our vision,
how must we look to our
customers?
Customer Perspective
To satisfy our customers,
which processes must we
excel at?
Internal Perspective
To achieve our vision, how
must our organization learn
and improve?
Learning & Growth
Perspective
The Strategy
11. 11www.exploreHR.org
Strategy and Balanced ScorecardStrategy and Balanced Scorecard
Mission –
Why We
Exist
Vision –
What We
Want to Be
Values –
What’s
Important
to Us
Strategy :
Our Game
Plan
Strategy
Map :
Translate the
Strategy
Balanced
Scorecard :
Measure and
Focus
Strategic
Outcomes
Satisfied
Shareholders
Delighted
Customers
Excellent
Processes
Motivated
Workforce
12. 12www.exploreHR.org
• The strategy map framework is presented in the
following slides.
• This framework describes the types of strategic
target that should be presented in each perspective,
namely the financial perspective, customers, internal
business process, and learning & growth perspective.
Strategy Map FrameworkStrategy Map Framework
13. 13www.exploreHR.org
Cost Efficiency
Long-term Shareholder
Value
Revenue Growth
Price Availability BrandServiceQuality
Operations
Management
Processes
Human Capital
Customer
Management
Processes
Innovation
Processes
Regulatory
and Social
Processes
Organization Capital Information Capital
Strategy Map FrameworkStrategy Map Framework
Financial
Customer
Internal Process
Learning & Growth
14. 14www.exploreHR.org
Financial PerspectiveFinancial Perspective
• In private companies, the financial perspective is the
main objective (ultimate goal) – without having to
sacrifice the interests of other relevant stakeholders
(community, environment, government, etc.)
• In the financial perspective, the strategic goal is the
long-term shareholder valuelong-term shareholder value. This goal is driven by
two factors, namely : revenue growthrevenue growth and costcost
efficiency.efficiency.
16. 16www.exploreHR.org
Customer PerspectiveCustomer Perspective
• This perspective is very instrumental, because without
customers, how can a company survive?
• Customer perspective covers the following elements:
• Customer acquisition
• Customer retention
• Customer profitability
• Market share
• Customer satisfaction
18. 18www.exploreHR.org
Internal Process PerspectiveInternal Process Perspective
• This perspective reflects the processes in key business
that should be optimized in order to meet the needs of
the customers.
• There are four main themes in this perspective, namely:
• Operations Management Process
• Customer Management Process
• Innovation Process
• Regulatory and Social Process
20. 20www.exploreHR.org
Learning & Growth PerspectiveLearning & Growth Perspective
• This perspective reflects the capability that a company
should have, namely:
• Human Capital
• Organization Capital
• Information Capital
• This perspective shows us that good human resource
development system, organizational system and
information system forms a solid foundation for improving
company performance.
22. 22www.exploreHR.org
Strategy Map TemplateStrategy Map Template
• The following slide displays the strategy map template
comprising of four perspectives : financial, customer,
internal business process, and learning & growth.
23. 23www.exploreHR.org
Improve
Cost Efficiency
Enhance Long-term
Shareholder Value
Increase Revenue Growth
Enhance
Brand Image
Build High
Performance Products
Achieve
Operational
Excellence
Develop Strategic
Competencies
Drive Demand
through Customer
Relation
Management
Manage Dramatic
Growth through
Innovation
Implement Good
Environmental
Policy
Build Learning
Culture
Expand Capabilities with
Technology
Strategy Map TemplateStrategy Map Template
Financial
Customer
Internal Process
Learning & Growth
Expand
Market Share
26. 26www.exploreHR.org
• The measure of success must show clear, specific and
measurable performance indicators.
• The measure of success should be declared explicitly and in
detail so that it is clear what is being measured.
• Costs to identify and monitor the measure of success should
not exceed the value that will be known from the measurement.
Guidelines in Formulating the KPIGuidelines in Formulating the KPI
KPI GuidelinesKPI Guidelines
27. 27www.exploreHR.org
Relevant to the
Strategic Objective
Does KPI have a linkage with the strategic
objectives?
Controllable Are the KPI achievements still under control?
Actionable Can any action be taken to improve the
performance?
Simple Is the KPI easy to explain?
Credible Is the KPI not easy to manipulate?
KPI GuidelinesKPI Guidelines
28. 28www.exploreHR.org
KPIKPI Family DimensionFamily Dimension
Productivity Measures employee output (units/
transactions/ dollars), the uptime levels and
how employees use their time (sales-to-
assets ratio, dollar revenue from new
customers, sales pipeline).
Measures the ability to meet and/or exceed
the requirements and expectations of the
customer (customer complaints, percent
returns, DPMO -- defects per million
opportunities).
Quality
29. 29www.exploreHR.org
KPIKPI Family DimensionFamily Dimension
Profitability Measures the overall effectiveness of the
management organization in generating
profits (profit contribution by
segment/customer, margin spreads).
Measures the point in time (day/week/
month) when management and employee
tasks are completed (on-time delivery,
percent of late orders).
Timeliness
30. 30www.exploreHR.org
KPIKPI Family DimensionFamily Dimension
Process
Efficiency
Measures how effectively the management
organization incorporates quality control, Six
Sigma and best practices to streamline
operational processes (yield percentage,
process uptime, capacity utilization).
Measures how effectively the management
organization leverages existing business
resources such as assets, bricks and mortar,
investments (sales per total assets, sales per
channel, win rate).
Resource
Utilization
31. 31www.exploreHR.org
KPIKPI Family DimensionFamily Dimension
Cost
Savings
Measures how successfully the management
organization achieves economies of scale and
scope of work with its people, staff and
practices to control operational and overhead
costs (cost per unit, inventory turns, cost of
goods).
Measures the ability of the management
organization to maintain competitive economic
position in the growth of the economy and
industry (market share, customer
acquisition/retention, account penetration).
Growth
32. 32www.exploreHR.org
KPI Category DimensionKPI Category Dimension
DirectThe actual raw data value as measured (e.g.,
sales volume).
Percent
The comparison of the changes in
performance of one value relative to the
same value at a different time, geography,
etc. (e.g., percentage change in sales vs.
last year).
33. 33www.exploreHR.org
KPI Category DimensionKPI Category Dimension
Simple
Ratio
The comparison of one value relative to another to
provide a benchmark for comparison of
performance (e.g., average sales per day).
Index
A combination of several separate measures
added together that result in an overall indicator
of performance (e.g., (company sales growth)/
(industry sales growth) for a specific geography).
34. 34www.exploreHR.org
KPI Category DimensionKPI Category Dimension
Composite
Average
The addition of the weighted averages of several
similar measures that result in an overall composite
indicator of performance (e.g., customer satisfaction
composite is mixture of results from surveys, focus
groups and product returns).
Statistics
Multiple measures such as mean, variance,
standard deviation and variance that capture the
spread and distribution of the performance
measures (e.g., sales distribution by demographics,
geography, channel).
38. 38www.exploreHR.org
Corporate and Division ScorecardCorporate and Division Scorecard
• Division Scorecard is formulated by looking at the four
perspectives in Corporate Scorecard.
• As shown in the previous slides, the learning & growth
perspective provides guidelines for developing scorecard at
the Human Resource and IT divisions, while the internal
process perspective provides guidelines for developing
scorecard at the supply chain division or R&D.
39. 39www.exploreHR.org
Corporate and Division ScorecardCorporate and Division Scorecard
Sample from GE Lighting Business Group
Level of Organization Financial Customer Internal Process Learning & Growth
Corporate Scorecard Increase profit margin Improve customer Increase inventory turns Increase level of
satisfaction level Improve internal process employee competency
Division Scorecard Optimize cost of production Improve customer Increase inventory turns Increase level of
Reduce inventory levels satisfaction level Improve internal process employee competency
Plant Scorecard Optimize cost of production Increase percent of Increase inventory turns Number of "on the
Increase yields ratio on time delivery Reduce number of defects job training" delivered
Increase labor productivity Reduce customer per million Number of performance
Reduce inventory levels complaints per million Improve quality incoming coaching session
materials
Maintain optimum equipment
speed
Frontline Employee Reduce waste Reduce equipment downtime Number of "on the
Scorecard Reduce overtime Reduce number of poor job training" attended
Increase production rates solders Number of performance
Reduce number of cracked coaching session
bulbs attended
The above example shows how the scorecard at corporate level is
cascaded to division level, and further to plant level and employee level.
40. 40www.exploreHR.org
Division Strategy Map TemplateDivision Strategy Map Template
• The strategy map for HR Division, Information Technology
Division, Finance Division, and Marketing Division are
presented in the following slides.
41. 41www.exploreHR.org
Optimize HR Efficiency
Drive Long term
Shareholder Value
Enhance People & Organizational
Effectiveness
Achieve HR
Process
Excellence
Develop Strategic &
Functional HR Competencies
Build Strategic
Employee
Competencies
Drive
Organizational
Performance
Enhance Technology
for HR
Create Climate for
HR Action
HR Strategy Map TemplateHR Strategy Map Template
Financial
Customer
HR Internal Process
Learning & Growth
Create Positive Work
Environment
Provide Quality
HR Service
Provide High
Performance People
42. 42www.exploreHR.org
Optimize IT Efficiency
Drive Long term
Shareholder Value
Enhance IT Impact on
Enterprise Outcome
Maintain a
Reliable IT
Infrastructure
Develop Strategic &
Functional IT Competencies
Develop Effective
Decision
Support System
Propose and Deliver
Transformational
Applications
Enhance IT Tools that
Enhance the IT Function
Promote Customer-
focused Culture
IT Strategy Map TemplateIT Strategy Map Template
Financial
Customer
IT Internal Process
Learning & Growth
Deliver Consistent, High
Quality IT Service
Provide Business Units with
Innovative IT Solutions
43. 43www.exploreHR.org
Optimize Financial Efficiency
Drive Long term
Shareholder Value
Enhance Finance Effectiveness on
Enterprise Outcome
Achieve Finance
Process
Excellence
Develop Strategic &
Functional Finance
Competencies
Develop Financial
Information to
Improve Decision
Making
Ensure Compliance
with Regulatory
Requirements
Use Technology to Improve
Financial Information
Delivery
Finance Strategy Map TemplateFinance Strategy Map Template
Financial
Customer
Finance Internal Process
Learning & Growth
Deliver Responsive & Efficient
Finance Operations
Provide Clear & Reliable
Required Disclosure
Promote Customer-
focused Culture
44. 44www.exploreHR.org
Optimize Marketing Efficiency
Drive Long term
Shareholder Value
Increase Sales
Revenue
Develop Innovative
Marketing
Communication
Program
Develop Strategic &
Functional Marketing
Competencies
Develop
Marketing Business
Intelligence
Accelerate
New Product
Development
Ideas
Enhance Technology
for Marketing
Foster Creative Thinking
& Innovative Solutions
Marketing Strategy Map TemplateMarketing Strategy Map Template
Financial
Customer
Internal Process
Learning & Growth
Create Satisfied and
Loyal Customers
Enhance Brand
Image
Develop Effective
Customer Relation
Management
45. 45www.exploreHR.org
Recommended Further Readings:
1. Robert Kaplan and David Norton, Strategy Map : Converting Intangible
Assets into Tangible Outcomes, HBS Press
2. Robert Kaplan and David Norton, Alignment : Using the Balanced
Scorecard to Create Corporate Synergies, HBS Press
46. 46www.exploreHR.org
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