Balanced Scorecard: It is a measure that combines key financial measures with operational drivers to give a more complete figure to performance.
It provides a series of measures designed to bridge the gap between the company's great vision and the company's day-to-day actions.
strategies-and-management-toolsBackground
Performance management methodology started in 1992 by Robert Kaplan / David Norton.
It is a multi-dimensional communication system, implemented and managing the strategy at all levels.
characteristics
It relates the strategy with its execution defining objectives in the short, medium and long term.
It reduces the risk in decision making.
Communicate the strategy to all levels of the organization.
Have a clear vision of the cause-effect relationships of the strategy.
BSC Global Perspectives
- Financial results. How our shareholders see us: Customer satisfaction. How do our clients see us? Internal Processes. In which process should we be excellent? Organizational growth and learning. What resources are key to innovate and improve?
Learning and monitoring perspective
- People.- The capacity for innovation and change comes from the knowledge of people as a fundamental element of lasting success. Organizational Culture.- Elements of collaboration, knowledge, customer relations scheme. Technology.- Take advantage of existing business technology.
Possibilities of growing:
- Employee training Competencies Motivation, performance Recruitment, induction
Perspective of internal processes
- Manage knowledge and teamwork. Process efficiency by reducing process cycles, waste. Increase in process quality.
Main efficiency indicators:
- Costs.Operations.After-Sales Service.
Customer satisfaction perspective
Need for technology support. (CRM).
Information and collaboration systems that foster a better relationship between Clients - Company.
Leading indicators:
- Market Segmentation. Customer Retention and Acquisition. Customer Satisfaction. Customer Advantages. Image, Prestige.
Financial perspective
Its objective is to respond to the expectations of the shareholders, creating value.
Leading indicators:
- EVA.ROI.Revenue, asset turnover.Cash Flow.
Steps for the comprehensive development of a BSC
- VisionMission (What, To Whom, How).Values.Internal Analysis. -Relate strengths and weaknesses with the mission and make action proposals. Environment Analysis. -Relate threats and opportunities with the mission and make proposals for action. Strategic Map Development Presentation of the BSC.
Benchmarking
- Not copying, not spying, not unethical, not illegal.
Concept
It is the process of comparing and measuring an organization's operations or internal processes against those of a best-in-class representative, taken from inside or outside the industry.
It is a research process to learn from others.
It is a viable tool for the best continuum.
- Obtain management commitment Demarcate your own processes Identify your strong and weak processes and document them Select the processes that will be subjected to benchmarking Form benchmarking teams Investigate the best in the market Form agreements with benchmarking partners Information collection Analyze data and bridge the gap Plan action to close the gap Implementation Monitor Continue the business cycle.
