Balanced Score Card
This component aims to understand the ability of your organization’s Balanced Score Card to measure KPIs, the extent to which it is integrated to embed your Vision, mission, strategy and goals into the fabric of the company
DID YOU KNOW? Our global benchmark data shows that measuring the Theme– Customer Metrics contributes the most in percentage terms, towards building the overall capability of the component. So do you have a balanced score card or a similar tool that is well cascaded, linked to performance and rewards (to measure effectiveness) and aligned to organisational vision and strategy?
Organisations leverage technology to integrate its internal systems for a robust performance management systems or a similar tool. Several solutions help align the score card to your vision & strategy and more importantly implemented across the organisation to drive the desired change ie driving a culture that is metrics driven, evidence based performance and rewards process.
An effective score card design includes metrics related to Financials, Customers, People, Risk, CSR and integrated with key people processes with a framework of continuous improvement. It would need to be institutionalised with a practical implementation approach, with a good balance between standardisation and customisation.
Our deliverables (with a partner) would include:
- Study the business environment – market trends, financial performance, competition, customer preferences, business strategy, growth plans, SWOT etc
- Translate Corporate Strategy into Operational Priorities and Key Performance Indicators with regard to Customers, Financials, Internal Processes and People
- Help in strategic alignment of organization by embedding the strategic themes and KPIs across the organization
- Create ownership for the score card by effectively cascading to individual level; setting individual and team’s performance objectives and through incentives & reward systems linking performance and reward
- Support in reviewing and improving the effectiveness of Balanced Score Card