The document discusses using a balanced scorecard and strategy map to drive corporate performance. It provides an overview of key components:
1) A balanced scorecard balances financial and non-financial metrics across four perspectives: financial, customer, internal processes, and learning and growth.
2) A strategy map translates a company's strategy and helps identify strategic objectives and key performance indicators (KPIs) within each perspective.
3) KPIs should be measurable, relevant to objectives, and help evaluate progress towards strategic goals. Different types of KPIs include productivity, quality, profitability and more.
The Balanced Scorecard is a strategic planning and management system that monitors organizational performance against strategic goals. It was developed in the 1990s to provide a more balanced view of organizational performance than traditional financial measures. The Balanced Scorecard approach uses four perspectives - financial, customer, internal business processes, and learning and growth - to align business activities with an organization's strategic vision. Key to successful implementation is executive commitment, involvement of managers and employees, effective communication, and viewing it as a long-term change rather than a short-term project.
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
The Balanced Scorecard was introduced in 1992 as a performance measurement framework that monitors an organization's performance toward strategic goals. It gives managers a comprehensive view across financial, customer, internal process, and learning & growth perspectives. The document then provides examples of how Philips, Unified CallSoft, and Zenith Systems implemented Balanced Scorecards to address various issues and improve performance alignment, transparency, and strategic focus.
This document discusses the balanced scorecard framework. It begins by explaining that a balanced scorecard is a measurement and management system that translates an organization's vision and strategy into objectives and measures across four perspectives: financial, customer, internal business processes, and learning and growth. It describes how organizations use balanced scorecards to identify the key factors that create long-term value and align goals and initiatives across different departments. The document also explains that while balanced scorecards were initially used by for-profit organizations, they can also be adapted for use by non-profits and governments. It argues that balanced scorecards help organizations overcome barriers to strategic implementation and execution by creating alignment across the organization.
Managers are increasingly recognizing that traditional financial measures alone do not provide all the information needed to make strategic and operational decisions. A balanced scorecard uses a mix of financial and nonfinancial metrics related to customers, internal processes, learning and growth, and shareholder value to give managers a more complete picture. This enables continuous performance improvement, strategic execution, and accountability. The balanced scorecard has gained widespread use as it helps articulate strategy, communicate it, motivate execution, and monitor results.
The document discusses creating a balanced scorecard to link organizational objectives, initiatives, and measures to its strategy. It provides an overview of what a balanced scorecard is, noting it measures progress toward strategic goals across financial, customer, internal process, and learning/growth perspectives. It outlines the steps to create a strategy map first to clarify the organization's strategy before developing performance measures in a balanced scorecard.
The Balanced Scorecard is a strategic planning and management system used to align business activities to the organization's vision and strategy, improve internal and external communications, and monitor performance against strategic goals. It balances financial and non-financial metrics in four key areas: financial, customer, internal business processes, and learning and growth. Implementing a Balanced Scorecard requires executive sponsorship, involvement of leaders and employees in development, choosing a champion, and viewing it as a continual process rather than a short-term project.
Strategic performance management involves aligning employee performance with organizational goals. It is a proactive partnership between employees and management. Performance management helps improve individual and team performance to deliver sustained organizational success. Strategic performance management provides frameworks and indicators to help formulate strategy, allow strategic insights, and inform strategic decision making. Key frameworks include the balanced scorecard and performance prism. Performance indicators should be relevant, clearly defined, and drive progress toward objectives. Targets provide measurable marks of achievement aligned with objectives. Strategic performance management is crucial for effective organizational development and growth.
The document provides an overview of the Balanced Scorecard framework developed by Robert Kaplan and David Norton in the early 1990s. It discusses that the Balanced Scorecard translates an organization's mission and strategy into a comprehensive set of performance measures across four perspectives: financial, customer, internal business processes, and learning and growth. The Balanced Scorecard helps organizations implement their strategies by setting objectives and measures for each perspective, and monitoring performance to drive continuous improvement.
The document discusses implementing a balanced scorecard approach at a client's firm. It describes challenges the client previously faced around strategy execution and measurement. It then details the goals sought in implementing a balanced scorecard, including aligning operations with strategy and facilitating strategic learning. Lessons learned from the client's implementation included establishing cause-and-effect linkages between objectives and ensuring balance between leading and lagging indicators.
Balanced scorecard approach_Robert S KaplanRanjit Jose
The document discusses the balanced scorecard approach to strategy implementation and management. It provides an overview of key concepts:
- The balanced scorecard translates an organization's vision and strategy into objectives and measures across four perspectives: financial, customer, internal processes, and learning and growth.
- It helps organizations execute their strategies more effectively by aligning goals and metrics to the strategy, and by facilitating strategic feedback and learning.
- Early adopters of the balanced scorecard approach were able to reliably and rapidly execute their strategies to achieve breakthrough results within 2-3 years, through creating organizational alignment around the strategy.
- Seven key ingredients make balanced scorecard programs highly successful: leadership, communicating the strategy, linking score
This Powerpoint presentation describes the fundamental elements of the management tool known as the Balanced Scorecard. It covers the fundamental building blocks of Balanced Scorecard, It's important, it's relation to strategy, a case study using this approach and how BSC can be used in improving quality, time and throughput of a company.
The balanced scorecard is a strategic planning and management system developed by Kaplan and Norton to align business activities with organizational vision and strategy. It adds non-financial metrics to traditional financial measures to provide managers a more balanced view of performance. The balanced scorecard translates strategy into objectives and initiatives, communicates goals across levels, and enables strategic learning through real-time performance measurement and feedback. It covers four perspectives: financial, customer, internal processes, and learning and growth.
Developing Metrics and KPI (Key Performance IndicatorsVictor Holman
Get a FREE performance management kit and access to all of Victor's full videos at:
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This presentation covers the basics of developing successful performance metrics, from developing winning KPIs, learning how to develop the right metrics, the rules of developing KPIs and metrics and common performance metrics for managing a successful organization.
The document discusses the Balanced Scorecard methodology created by Kaplan and Norton. It presents the four perspectives of the Balanced Scorecard - financial, customer, internal process, and learning and growth. For each perspective, objectives, key performance indicators, targets, and initiatives are identified. The methodology balances both financial and non-financial measures across short and long term goals. It provides a framework for translating an organization's mission and strategy into tangible objectives and measures.
BSC one of the most amazing strategy tools I ever worked with. I am sure this topic been discussed many times but I try to explain it from my point of view
The Balanced Scorecard is a performance management approach that helps organizations translate their vision and strategy into objectives and measures across four perspectives: financial, customer, internal processes, and learning and growth. It provides a framework for organizations to plan, measure, and manage performance and progress toward strategic goals. The Balanced Scorecard uses a mix of lagging and leading performance indicators to help organizations monitor and improve performance.
The document discusses implementing an HR scorecard to measure HR's impact on business outcomes. It recommends establishing a change champion, communicating the reasons for the scorecard to key stakeholders, and monitoring progress. Sustaining the change requires integrating the scorecard into company initiatives. Getting employee buy-in is also crucial by connecting the scorecard to what motivates employees and using influencers to lead the change. Proper implementation and gaining employee support are keys to the scorecard's success and sustainability over time.
The balanced scorecard method - strategySushovan Bej
The balanced scorecard is a strategic planning tool used by businesses to align goals and initiatives across four perspectives: financial, customer, internal processes, and learning and growth. It was created by Kaplan and Norton to provide a more holistic view of organizational performance beyond just financial measures. Managers use the balanced scorecard to translate strategy into objectives and measures, communicate strategy to employees, link strategic objectives to budgeting and resource allocation, and monitor performance regularly to ensure goals are met.
The document outlines six key elements of transforming a good company into a great one. It discusses (1) the importance of level 5 leadership, which is modest and driven to produce sustained results. (2) Putting the right people in place before deciding on goals or strategy. (3) Confronting the brutal facts of reality while maintaining faith. (4) Developing a simple "hedgehog concept" and sticking to it. (5) Creating a culture of discipline with consistent systems but also freedom. (6) Using technology to accelerate momentum once it fits the strategy, not to create it.
This document discusses emotional intelligence and its five domains: intrapersonal skills, interpersonal skills, adaptability, stress management, and general mood. Each domain contains several competencies important for emotional intelligence. For example, the intrapersonal domain includes self-awareness, assertiveness, independence, self-regard, and self-actualization. Assignments are provided to help readers improve skills in each competency.
The document discusses diagnosing organizational effectiveness through a comprehensive three-level model examining the organization, groups within the organization, and individuals. At the organizational level, it evaluates factors like strategy, structure, culture and resources. At the group level, it assesses goals, tasks, composition and norms. At the individual level, it analyzes job characteristics and personal factors that influence satisfaction and performance.
1. The document discusses different methods for measuring the effectiveness and return on investment of training programs. It outlines four levels of evaluation: reaction, learning, behavior change, and business impact.
2. Guidelines are provided for evaluating each level, including using control groups, pre-and post-testing, and collecting data on various performance indicators.
3. Calculating return on investment of training involves collecting data, isolating the effects of training, converting data to monetary values, and using a formula to determine ROI. Methods like control groups, trend lines, and participant estimates can be used to isolate the training impact.
This document summarizes career planning and development initiatives for both organizations and individuals. For organizations, it discusses job posting systems, mentoring, career resource centers, managers as career counselors, career development workshops, human resource planning, performance appraisals, and career paths. For individuals, it outlines career planning, career awareness, utilizing career resource centers, and analyzing interests, values, and competencies. The overall purpose is to provide guidance and resources to support employees in taking responsibility for and actively managing their own career development.
The document discusses key leadership skills and models. It covers the six traits of effective leaders: drive, desire to lead, integrity, self-confidence, intelligence, and job-relevant knowledge. It also discusses leadership styles in the managerial grid model and contingency model of leadership. The document then outlines the elements of high performing leadership, including being a vision creator, team builder, task allocator, people developer, and motivation stimulator. For each element, it provides details on the related skills and approaches.
The document provides information on developing effective communication skills. It discusses communication principles like giving and gathering good information to build mutual trust. It also covers developing assertive communication skills through principles like focusing on solutions rather than problems. The document recommends developing active listening skills such as paraphrasing, reflecting feelings, and synthesizing ideas to better understand others.
The document discusses key principles and activities for leading corporate transformation and managing change effectively. It identifies five key activities for change management: 1) motivating change, 2) creating a vision, 3) developing political support, 4) managing the transition, and 5) sustaining momentum. It also discusses principles of change, types of resistance to change, and elements needed to enable change like change architecture, communication, and developing leadership, team, cultural and individual capacities.
This document provides guidance on developing effective presentation skills for managers. It discusses three key elements of great presentations: content, design, and delivery. For content, it recommends analyzing the audience, gathering relevant data, and creating an outline. For design, it emphasizes layout, consistency, and use of color. For delivery, it offers tips on voice, language, movement, and body language to engage the audience. The document also provides strategies for handling challenges like difficult participants or equipment failures.
The document discusses developing an HR scorecard to measure HR performance and strategy. It outlines an HR strategy map with objectives like enhancing employee productivity and developing internal HR capabilities. It then presents the HR scorecard with strategic objectives mapped to key performance indicators, such as shareholder value growth, employee satisfaction index, recruiting costs per employee, and accuracy of HR databases. The scorecard is intended to help measure the ROI of HR initiatives and optimize talent management and performance processes.
The document discusses various tools and techniques for managing creative thinking skills and overcoming conceptual blocks to creativity. It describes attribute listing, brainstorming, visioning, the Kipling method, problem statements, and challenge methods as tools for defining problems, creating new ideas, and developing a creative climate. It also discusses types of conceptual blocks like constancy, compression, and complacency that can limit creative thinking.
The document provides guidance on coaching for optimal employee performance. It discusses the characteristics of a good coach, including being positive, supportive, goal-oriented, focused and observant. It also outlines the key elements of an effective coaching session, such as establishing clear purpose and ground rules. Communication skills for coaching like asking open questions and active listening are also covered. Finally, it describes the five steps of coaching: describing performance issues, discussing causes, identifying solutions, developing an action plan, and follow up.
The document provides an overview of HR management training topics including HR planning, recruitment, selection, training and development, performance management, and career management. It then discusses several HR processes in more detail, including manpower planning, recruitment sources and techniques, selection tests and their advantages/disadvantages, training need analysis, and evaluating training effectiveness.
The document provides an overview of competency-based human resource (HR) management. It discusses developing a competency model and framework, competency-based interviewing, career planning, training and development, and performance management. The benefits of using competency models for both managers and employees are highlighted. Assessment centers and various assessment exercises are also described as ways to assess competencies.
The document provides an overview of Six Sigma, including its definition, goals and benefits. It describes the Six Sigma phases of Define, Measure, Analyze, Improve and Control (DMAIC) and some common tools used in each phase like process mapping, design of experiments and statistical process control. Key roles involved in Six Sigma projects include Champions, Process Owners, Black Belts and team members. Implementing Six Sigma can help reduce costs and defects while improving quality, customer satisfaction and profits.
The balanced scorecard is a performance measurement framework that was created to address the shortcomings of solely using financial metrics to measure performance. It complements traditional financial measures with non-financial measures covering four perspectives: customer, internal business processes, learning and growth, and financial. The balanced scorecard is used by translating the organization's vision into objectives and measures across the four perspectives, communicating and linking strategic goals throughout the organization, incorporating strategic planning into the budgeting process, and providing feedback to continuously improve strategic performance and change. Many organizations across industries have adopted the balanced scorecard framework.
Hoshin Kanri is a strategic planning and implementation process that aligns objectives throughout an organization. It involves a 7-step cycle to establish vision, develop strategic plans, set annual objectives, deploy objectives to departments to create improvement plans, implement plans, conduct regular reviews, and annual assessments. Key aspects include developing a matrix to link vision and objectives, assigning ownership, and a "catchball" process where stakeholders provide input to finalize improvement plans. The benefits are clear roles and objectives for all employees, aligned goals across levels, and involvement of all in target setting and reviews.
The document discusses safety metrics and scorecards. It defines key terms like metrics, indicators, and measures. It explains the differences between leading and lagging metrics, and process and outcome metrics. Examples are provided of metrics that measure activities, processes, outputs and outcomes. The document also discusses developing a balanced scorecard for safety with metrics in areas like customers, internal processes, learning and growth, and financials. The expected outcomes are to understand the differences between indicators and measures, and process and leading metrics, as well as to see examples of process metrics and a safety balanced scorecard.
Concepts of cutover planning and managementSanjay Choubey
Global Business Transformation, SAP, ERP, Cutover Management, Manufacturing Excellence, Blackout period Management, Direct and Indirect Procurement, Business Intelligence, Data Management and Analytic,
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
This document discusses various approaches to measuring supply chain performance, including the Balanced Scorecard, SCOR model, Logistics Scoreboard, activity-based costing, and economic value added. It provides examples of performance measures that can be used across different areas of the supply chain, including customer service, processes, purchasing, manufacturing, logistics, administration, and marketing. Key frameworks like the Balanced Scorecard emphasize the importance of using a mix of financial and non-financial metrics to evaluate performance from multiple perspectives.
This document discusses managing corporate performance using a balanced scorecard approach. It provides an overview of key components of a performance management framework including identifying strategy, defining key performance indicators (KPIs), and establishing a continuous management cycle. It then describes the balanced scorecard method which includes financial, customer, internal process, and learning & growth perspectives to holistically measure strategy and progress. Guidelines for establishing effective KPIs tied to objectives in each balanced scorecard perspective are also provided.
The document discusses the balanced scorecard performance measurement framework. It describes the balanced scorecard as measuring organizational performance across four perspectives: financial, customer, internal business processes, and learning and growth. Each perspective has objectives, measures, targets, and initiatives. The balanced scorecard links performance measures to strategy and helps organizations communicate and monitor their strategy.
The document discusses using a balanced scorecard approach to manage corporate performance. It describes the balanced scorecard as having four perspectives - financial, customer, internal business processes, and learning and growth. Key performance indicators are identified for each perspective. The balanced scorecard helps companies translate their strategy into specific goals and measures across all important aspects of the organization.
Human resource - Performance Management -The Balanced ScorecardSampath Samudrala
The balanced scorecard is a strategic planning and management system developed in the early 1990s. It provides a framework for translating an organization's mission and strategy into a comprehensive set of performance measures. The balanced scorecard suggests that organizations must balance four perspectives - financial, customer, internal business process, and learning and growth. Each perspective contains objectives, measures, targets, and initiatives. Together these provide managers with a comprehensive picture of an organization's overall health.
The document discusses strategy maps and the balanced scorecard method. It provides examples of strategy maps that visually link strategic objectives across four perspectives: financial, customer, internal processes, and learning and growth. The key elements are a vision and mission statement linked to strategic themes and objectives. Software can help implement strategy maps and scorecards by creating maps, organizing metrics, displaying data, and allowing users to input data.
The document discusses the Balanced Scorecard framework. It provides background on why organizations struggle with strategy execution and the development of the Balanced Scorecard as a performance management tool. The Balanced Scorecard translates an organization's strategy into objectives and measures across four perspectives: financial, customer, internal processes, and learning and growth. It allows organizations to link strategic objectives, measure performance, and track initiatives.
The document discusses the balanced scorecard framework. It notes that traditional reports focus on lagging financial indicators rather than leading indicators that will determine future performance. The balanced scorecard translates strategy into objectives and measures across four perspectives: financial, customer, internal processes, and learning and growth. It provides a more balanced view of organizational performance than financial measures alone by including operational measures that drive future financial results.
The document discusses barriers to implementing strategy and how a balanced scorecard can help overcome those barriers. It outlines common barriers like strategies not being understood, lack of alignment between goals/incentives and strategy, and budgets/resources not linked to strategy. It then presents how a balanced scorecard can help by linking incentives to execution, aligning budgets with strategy, and spending more time on strategy. The balanced scorecard provides a framework to translate strategies into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
Valuation Process Exploring Industry KPIS and Their ImpactMY Valuation
KPIs measure business performance and progress towards their goals through tracking the effectiveness of projects, processes, campaigns, and strategic changes.
A presentation on using the balanced scorecard performance measurement /management system integrated with enterprise systems such as Enterprise Resource Planning and Enterprise Asset Management.
Balanced Scorecards For The Busy Business PersonWarren_R
The document discusses balanced scorecards, which are strategic planning and management systems used to align business activities with vision and strategy. They improve communication and monitor performance against goals. Scorecards measure perspectives like learning & growth, business processes, customers, and financials. This helps businesses identify and increase their intangible assets like intellectual property, brand, and customer reputation, which now make up 72% of business value, compared to 28% for tangible balance sheet items. The document provides examples of objectives and measures companies can use for each perspective in a balanced scorecard to track performance and drive accountability.
The document provides an overview of the Balanced Scorecard framework. It discusses the four perspectives of the Balanced Scorecard - financial, customer, internal business processes, and learning and growth. It explains how objectives, measures, targets, and initiatives are defined for each perspective based on an organization's vision and strategy. The document also discusses how to link Balanced Scorecard measures to strategy, and how the framework can be adapted based on an organization's structure, such as for corporations, joint ventures, support departments, and non-profits.
A good strategy map should communicate everything a company is striving to achieve on a single page.
Think about it, if your company is made up of only five people or is an enterprise of 5,000 people first and foremost you want them to know exactly what the company is about and what it is trying to achieve.
What is more, your employees want to know that your company has ambition and plans and will be around for the long haul. They want to be sure that the leaders know what they are doing and are in control.
They want to work in a winning environment and want to know their jobs are secure. One of the most powerful tools you have in your armoury is a strategy map (that and consistently winning profitable business, the two are inextricably linked).
A balanced scorecard is a strategic planning and management system used to align business activities with an organization's vision and strategy. It measures performance across four perspectives: learning and growth, business processes, customers, and financials. This allows companies to track both financial indicators and the drivers of future financial performance, including employee training, internal business processes, customer satisfaction, and innovation. The balanced scorecard provides a framework for setting objectives, measures, targets, and initiatives and helps improve communication, collaboration, and accountability towards achieving an organization's strategic goals.
The Balanced Scorecard was developed by Kaplan and Norton as a performance measurement framework that considers both financial and non-financial metrics across four perspectives: financial, customer, internal business processes, and learning and growth. It translates a company's strategy into objectives, measures, targets, and initiatives for each perspective. Beyond traditional financial measures, it also evaluates a company's customers, internal processes, and its innovation and improvement activities - assets often not fully captured in financial reports. The Balanced Scorecard is now used as both a performance measurement and strategic management system to help companies communicate goals, monitor performance, learn from experience, and align actions to strategy.
The document discusses the balanced scorecard framework as a strategic management tool. It describes the balanced scorecard as considering both financial and non-financial performance indicators across four perspectives: financial, customer, internal business processes, and learning and growth. These four perspectives are causally linked, with learning and growth leading to better internal processes, higher customer value, and improved financial performance. The balanced scorecard helps organizations translate their vision into action, communicate objectives and measures, align strategic initiatives, and provide feedback to evaluate strategy. It is presented as an important tool for strategic management that can help organizations achieve long-term goals and develop competitive advantages.
This document provides guidance on implementing people analytics within an organization. It outlines a 3-step process: 1) choose metrics and key performance indicators to monitor and predict workforce outcomes; 2) define data sources to pull relevant information; 3) decide whether to use an off-the-shelf or custom people analytics tool. Examples of people analytics tools are also provided at different capability levels to help select the right solution. Implementing people analytics can transform how HR operates by improving areas like recruitment, performance management, compensation, and retention through a more data-driven approach.
This document provides tips for attracting and retaining top talent. To attract talent, companies should focus on company culture, reputation, career progression, and competitive salaries and benefits. Specific benefits mentioned include health insurance, retirement benefits, vacation time, flexible schedules, remote work options, and professional development opportunities. To retain talent, the document recommends identifying retention as a strategic issue, developing great people managers, providing career growth opportunities, recognizing good work, ensuring fair compensation, offering a good work-life balance, and soliciting employee feedback. Regular communication of opportunities and appreciation of employees are also emphasized.
The document discusses strategies for connecting an HR strategy to business goals and objectives. It explains that an HR strategy should align the goals of the HR department with the overall business goals. The HR strategy should seek to support the business goals either directly or indirectly. It also outlines six steps to develop an effective HR strategy, which includes understanding organizational objectives, evaluating current capabilities, and defining metrics and measures. Additionally, it provides examples of an HR strategy map and key performance indicators that can be used to measure the success of the HR strategy.
Digital HR aims to transform HR services and processes through technologies like analytics, mobile, cloud, and social media. This improves both the employee experience and organizational success by making HR more digital, mobile, and optimized. Benefits include using analytics to align HR with strategy, streamlining duplicative systems, delivering a better employee experience through mobile-first HR services, and integrating modern tools through cloud-based talent management. Successfully transforming HR digitally requires establishing a clear and measurable goal linked to business objectives, gaining support from stakeholders, and bringing people together in the organization through the process.
This document discusses developing an effective recruitment strategy and plan. It recommends 7 strategies to improve the hiring process, including developing a clear employer brand, optimizing the career page, sharing company culture on social media, employee referrals, using data and metrics, and creating a recruitment plan. An effective recruitment plan should define goals, forecast future hiring needs, develop candidate profiles, establish an employee value proposition and marketing strategy, and select tools and technology while staying within budget. Such a plan will help make better hiring decisions and ensure recruitment objectives align with company goals.
The document summarizes the 9 main pillars of the Business Model Canvas which is a tool for designing a business model. The 9 pillars are: 1) Customer Segments, 2) Distribution Channels, 3) Relationship with Customers, 4) Value Propositions, 5) Revenue Stream, 6) Key Resources, 7) Key Activities, 8) Key Partnerships, and 9) Cost Structure. It provides examples for each pillar including companies like Starbucks, Netflix, Mercedes Benz, Pizza Hut, Tesla, McDonald's, Gojek, Amazon, Toyota, and coffee shops. The 9 pillars can be mapped into the Business Model Canvas to help formulate a business model.
This document summarizes the key points from the book "TED Talks: The Official TED Guide to Public Speaking" by Chris Anderson. It outlines that an amazing presentation consists of interesting content, a cool design, and a memorable delivery. It provides tips for each element, such as having broad and deep insights for content, including eye-catching images and avoiding long sentences for design, and using variations in tone and including stories for delivery. It also identifies the three main mistakes to avoid as moving too much word-for-word text to slides, using all capital letters, and not including relevant images in an artistic arrangement.
This document discusses how to actualize a company's "why" or core mission through four key steps: 1) clearly defining and communicating the why through various creative media, 2) breaking down the why into measurable action plans and KPIs for each department, 3) regularly monitoring progress on action plans, and 4) celebrating successes to motivate employees. It provides examples of missions from companies like Tesla, Amazon, LinkedIn and Starbucks, and emphasizes that developing inspiring communication, detailed action plans, and a solution-oriented culture are important for realizing a company's fundamental purpose.
This document summarizes key points from the book "Now, Discover Your Strengths" by Marcus Buckingham. It discusses how focusing on strengths rather than weaknesses is more effective for achieving high performance. The document outlines three indicators that can reveal a person's strengths: past success experiences, interests and passions, and recognition from coworkers. It then describes a three-step process to increase potential strengths, which includes discovering existing strengths, creating a plan to develop them further, and evaluating the results of skill improvement efforts.
This document summarizes the key concepts from the book "Measure What Matters" about implementing an OKR (Objectives and Key Results) system. It outlines the main 4 steps to successfully implement OKRs: 1) Each work unit formulates measurable OKRs, 2) Develops action plans to achieve each OKR, 3) Regularly monitors OKR achievement using dashboards, and 4) Links OKR achievement to bonus incentives. Implementing OKRs using these steps can help organizations exponentially grow performance by setting clear objectives and measuring results.
This document discusses key concepts from the book "Grit: The Power of Passion and Perseverance" by Professor Angela Duckworth. It describes grit as perseverance, mental toughness, and an unyielding attitude to achieve life goals. The document outlines four pillars for developing grit: 1) having a passion for a goal or activity, 2) engaging in deliberate practice to improve skills, 3) having a sense of purpose for one's work, and 4) maintaining a sense of hope that goals can be achieved through perseverance.
Atomic Habits explains how small habits can have a tremendous impact on our lives over time. It argues we should focus on building good habits through a system of "tiny habits" rather than obsess over goals. The book provides tips for developing habits, including making new habits obvious with a specific plan, starting small and simple, performing the habit at the same time each day, and linking new habits to existing routines. By following these principles of habit formation, readers can change their habits and ultimately change their lives.
The 4 Disciplines of Execution framework outlines an approach for organizations to effectively execute their strategic plans. It involves 4 key disciplines: 1) Focusing on Wildly Important Goals (WIGs), which are 3 super important goals; 2) Working on lead measures, which are process indicators that drive WIG achievement; 3) Using a performance scoreboard to monitor WIG progress and lead measures; and 4) Establishing performance accountability among team leaders and members to ensure WIG goals are achieved. The framework was created by management consultants to help companies implement business strategies optimally.
This document outlines various marketing strategies related to market scope, market entry, product, promotion, distribution, and pricing. It provides definitions and requirements for strategies such as single market strategy, first in strategy, product positioning strategy, promotion mix strategy, exclusive distribution strategy, and skimming pricing strategy. The document is intended to serve as a guide on developing an effective high impact marketing strategy.
This document discusses strategic planning for managers. It outlines the five key tasks of strategic planning as forming a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and evaluating performance. It then discusses factors that shape strategic choices such as industry environment, company strengths/weaknesses, and management priorities. Different levels of strategy for a company are described. Methods for analyzing industry environment and competitors are provided to help design competitive strategy. Five generic competitive strategies are defined. The importance of effective strategy implementation through building organization capability, setting rewards, leadership, and systems is emphasized.
The document outlines the key steps in new product development: idea generation, product screening, concept testing, business and financial analysis, product development, test marketing, and commercialization. It then discusses various methods for generating new product ideas such as dimensional analysis, problem analysis, and benefit structure analysis. The document also identifies three key factors for effective new product development according to research: having a high-quality new product process, a clear new product strategy, and devoting adequate resources to new product development.
This document outlines various marketing strategies related to market scope, market entry, product, promotion, distribution, and pricing. It provides definitions and requirements for strategies such as single market strategy, first in strategy, product positioning strategy, promotion mix strategy, exclusive distribution strategy, and skimming pricing strategy. The document is intended to serve as a guide on developing an effective high impact marketing strategy.
This document outlines the key elements of an effective marketing plan, including an executive summary, situation analysis, objectives, strategies, tactics, and budget. It provides examples and descriptions of each section, such as describing the current state of the business in the situation analysis and setting measurable goals in the objectives section. It also includes an example marketing plan for a plastic molding company aiming to increase sales by expanding into new territories and hiring third-party sales representatives.
This document provides an overview of marketing communication strategies and tools. It discusses the objectives of marketing communication as informing, persuading and reminding the target audience. The key elements of the marketing communication mix are described as advertising, promotion, public relations, direct sales. Advertising is elaborated on as the most prominent paid element, with the AIDA model of attracting attention, building interest, creating desire and prompting action. Other marketing communication channels like public relations, sales promotion and personal selling are also summarized along with their objectives and benefits.
The document discusses key aspects of brand equity and managing brands, including definitions of brand loyalty, brand awareness, perceived quality, and brand associations. It outlines methods for measuring, enhancing, and communicating different elements of brand equity. Specific strategies are provided for developing a brand vision and positioning, fulfilling a brand's contract with customers, and measuring return on brand investment through various metrics.
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2. Contents : Corporate Performance Scorecard Strategy Map Framework Four Perspectives in Balanced Scorecard Identifying Key Performance Indicators Strategy Map in Corporate Functions (HR, IT, Finance and Marketing)
3. www.exploreHR.org You can download this presentation at: Please visit www.exploreHR.org for more presentations on leadership, personal development, and HR management.
6. Three critical components for effective process of performance management Performance Management Infrastructure Performance Management Culture Performance management cycle is continuous and consistent Culture that is based on performance accountability Logistic support and performance management administration Performance Management Component Performance Management Process
7. STRATEGY Plan and Execute Monitor and Evaluate Reward and Coach Set Measures and Target Performance Management Cycle
8. Managing Performance with Balanced 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. 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 with Balanced Scorecard
10. 4 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. Strategy 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. 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 Framework
13. Cost Efficiency Long-term Shareholder Value Revenue Growth Price Availability Brand Service Quality Operations Management Processes Human Capital Customer Management Processes Innovation Processes Regulatory and Social Processes Organization Capital Information Capital Strategy Map Framework Financial Customer Internal Process Learning & Growth
14. Financial 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 value . This goal is driven by two factors, namely : revenue growth and cost efficiency.
15. Long-term Shareholder Value Revenue Growth Improve Cost Structure Increase Asset Utilization Cost Efficiency Strategic Objectives in Financial Expand Revenue Opportunities Enhance Customer Value
16. Customer 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
17. Price Availability Brand Service Quality Customer Acquisition Customer Satisfaction Customer Retention Customer Profitability Market Share Strategic Objectives in Customer
18. Internal 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
19. Operations Management Processes Customer Management Processes Innovation Processes Regulatory and Social Processes Processes that produce and deliver products and services Processes that enhance customer value Processes that create new products and services Processes that improve communities and the environment Supply Production Distribution Selection Acquisition Retention Growth New Ideas R&D Portfolio Design/ Develop Launch Environment Safety & Health Employment Community Strategic Objectives in Internal Process
20. Learning & 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.
21. Human Capital Organization Capital Information Capital Skills Knowledge Attitude Systems Database Networks Culture Leadership Organization Development Strategic Objectives in Learning & Growth
22. Strategy Map Template The following slide displays the strategy map template comprising of four perspectives : financial, customer, internal business process, and learning & growth.
23. 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 Template Financial Customer Internal Process Learning & Growth Expand Market Share
25. Vision Mission and Values Strategy Finance Customer Internal Business Process HR Development Key Performance Indicators Key Performance Indicators Key Performance Indicators Strategic Objectives KPI = Measurement or indicator that provides information on how far we have succeeded in achieving the strategic objectives Key Performance Indicators (KPI)
26. 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 KPI KPI Guidelines
27. 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 Guidelines
28. KPI Family 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. KPI Family 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. KPI Family 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. KPI Family 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. KPI Category Dimension Direct The 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. KPI 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. KPI 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).
35. Strategy Map for Corporate Functions (HR, IT, Finance and Marketing)
36. Vision Mission Strategy Integration between Corporate and Division/Department Corporate Scorecard Division Scorecard The Division Scorecard is built by referring to the corporate scorecard
37. Financial Customer Internal Process Learning & Growth Corporate Finance Corporate Marketing Production Supply Chain R & D Corporate HR Info Technology Corporate and Division Scorecard
38. Corporate 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. Corporate and Division Scorecard Sample from GE Lighting Business Group The above example shows how the scorecard at corporate level is cascaded to division level, and further to plant level and employee level.
40. Division Strategy Map Template The strategy map for HR Division, Information Technology Division, Finance Division, and Marketing Division are presented in the following slides.
41. 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 Template Financial Customer HR Internal Process Learning & Growth Create Positive Work Environment Provide Quality HR Service Provide High Performance People
42. 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 Template Financial Customer IT Internal Process Learning & Growth Deliver Consistent, High Quality IT Service Provide Business Units with Innovative IT Solutions
43. 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 Template Financial Customer Finance Internal Process Learning & Growth Deliver Responsive & Efficient Finance Operations Provide Clear & Reliable Required Disclosure Promote Customer-focused Culture
44. 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 Template Financial Customer Internal Process Learning & Growth Create Satisfied and Loyal Customers Enhance Brand Image Develop Effective Customer Relation Management
45. Recommended Further Readings: Robert Kaplan and David Norton, Strategy Map : Converting Intangible Assets into Tangible Outcomes, HBS Press Robert Kaplan and David Norton, Alignment : Using the Balanced Scorecard to Create Corporate Synergies, HBS Press