|
|
 |
| Balanced Scorecard |
|
|
|
|
|
Deliverables |
|
|
|
|
Strategy map for corporate and departments
|
|
|
|
|
|
Balanced scorecards for corporate, departments and individual roles
|
|
|
|
Benefits |
|
|
|
|
Communication of strategy to each and all
|
|
|
|
|
|
Equal and balanced importance to learning and innovation at all levels
|
|
|
|
|
|
Alignment of initiatives and action plans with the corporate strategy
|
|
|
|
|
|
|
|
|
|
|
|
|
Balanced Scorecard (BSC) is primarily a vehicle for Strategy implementation, not for Strategy Formulation. It is a framework that helps organisations translate the long-term strategy into operational objectives through the mechanism of measurement. The Balanced Scorecard translates vision and strategy into a framework that effectively communicates strategic intent and drives behavior and tracks performance against the established goals. The scorecard tracks performance across 4 "balanced" perspectives of Finance, Customer, Internal Process and Learning & Growth. Scorecards are created at the Corporate, Department, Group and Individual Role levels within the organisation. Overall Performance scorecard for each individual consists of corporate, department and role scorecards and with Competencies and Knowledge assessment, all with relevant weightages.
|
|
|
Prerequisites
|
|
|
|
|
Mission, Vision and Strategy of the organisation
|
|
|
|
|
Organisation structure
|
|
|
| Top |
|
|
Scope
|
|
|
|
|
To review and revisit Mission, Vision and Strategy
|
|
|
|
|
To finalise scorecards at corporate, department and individual levels
|
|
|
|
|
To define strategic objectives, themes, measures, targets, initiatives and owners at all levels for each of the four perspectives
|
|
|
| Top |
|
|
Objective
|
|
|
|
|
To communicate strategy across all levels within the organisation.
|
|
|
|
|
To ensure that Learning & Growth and Internal Processes are given a balanced importance in the corporate performance management system
|
|
|
|
|
To promote team work and encourage group performance by giving weightages to individual, group and corporate performance
|
|
|
| Top |
|
|
Methodology
|
|
|
|
|
Review and revisit the Mission, Vision and Strategy of the company
|
|
|
|
|
Facilitate creation of a Corporate Balanced Scorecard and Strategy map clearly defining strategic objectives, themes, measures, targets, initiatives and owners on all the four perspectives of Finance, Customer, Internal Process and Learning & Growth. We would also show cause and effect relationship between each of the strategic objectives
|
|
|
|
|
Drill down to creation of Department / Group Balanced Scorecards and Strategy Maps
|
|
|
|
|
Prepare individual role scorecards
|
|
|
|
|
Arrive at an Overall Performance Scorecard for each individual having balanced weightages to individual, group and corporate scorecards
|
|
|
| Top |
|
|
|
