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Balanced Scorecard Quick Guide April, 2010
Basics & Best Practices Terminologies
Balanced Scorecard Quick Guide
In addition, Strategic & Business Planning relies on well-defined, best practice terminology Strategic & Business Planning Process Key Terminology
Units Key Performanc e Indicators (KPI)
Goal Objective
Any Business or Functional Unit. According to the new organization structure, GACA has five Business Units (KKIA, KAIA, KFIA, Domestic Airports and ANS) and five Functional Units (Corporate Core, IT, Finance, Human Resources, Internal Audit) and a Safety and Economic Regulation function1 A measure used to monitor how well a business is achieving its quantifiable objectives. KPIs are found at both the strategic (assets turnover, customer satisfaction index) or operational levels (e.g. traffic volume)
Long-term target value (a number) of KPI; set to be attained after five years
Short-term target value (a number) of KPI; set to be attained in one year
Strategy
A means or action that will lead to the achievement of a goal (five years ahead)
Initiative
A means or action that will lead to the achievement of the objective (one years ahead). A set of initiatives form a strategy
Booz & Company 28 March 2009
Balanced Scorecard Quick Guide
Contents • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
1. Internal Scanning 2. External Scanning 3. SWOT Analysis 4. Strategy Mapping 5. KPIs Setting 6. Targets Setting
One Of The Best Practices For BSC Work Flow
7. Initiatives Setting 8. BSC Dashboard 9. Performance Monitoring Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Internal Scanning Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
Internal scanning is a strategic planning technique that helps in determining the firm’s strengths and weaknesses and any related issues inside the firm • Knowing firm’s strengths and weaknesses • Getting exposed to the firm’s processes and chain of commands The following techniques are suitable to serve the internal scanning purpose: • Value Chain Analysis • Capability Assessment Once the internal scanning is done, it is expected to have: • Firm’s strengths • Firm’s weaknesses • Firm’s processes and value transferred from each process to another • potentials for improvements
Balanced Scorecard Quick Guide
Now • BSC general work flow • Internal Scanning Summary – Related Templates
• • • • • • • •
External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Value Chain Analysis
Activity A
Activity B
Activity C
Key Key Key Responsibilities Responsibilities Responsibiliti Value Value es Value transferred transferred transferred
m e T
Activity D Key Responsibilitie sValue transferred
e t a pl Balanced Scorecard Quick Guide
Capability Assessment
Organizat People Process System ion Readiness Readiness Readiness Readiness (%) (%) (%) (%)
Evidence and Comments
Activity A
Activity B
Activity C
Activity D
e t a l p m Te
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
External Scanning Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
External scanning is a strategic planning technique that helps in determining the firm’s opportunities and threats and any related issues outside the firm • Knowing firm’s opportunities and threats • Getting exposed to the firm’s competitors and market changes The following techniques are suitable to serve the external scanning purpose: • Industry Trends • Porter 5 Forces Model Once the external scanning is done, it is expected to have: • Firm’s opportunities • Firm’s threats • New trends and demands • potentials for investments and competitive advantages
Balanced Scorecard Quick Guide
Now • BSC general work flow • Internal Scanning Summary • External Analysis Summary – Related Templates
• • • • • • •
SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Other TechnologyRegulatory Market Competitive Trends Trends Trends Trends Trends
Corporate Industry Trends
Trend Description
ing Evidence
Implications
Trend A Trend B Trend A Trend B Trend A Trend B Trend A Trend B Trend A Trend B
e t a l p m Te
Balanced Scorecard Quick Guide
General External Environment Technological Change
Specific International Events
Demographic Trends
Entry
Complementors
Rivalry Focal Firm
Buyers Legal/Political Conditions
e t a l p m Te
Industry Suppliers
Substitutes Cultural Trends
Economic Climate Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
SWOT Summary Introduction
Purpose
SWOT is a strategic planning technique that helps in determining the firm’s strategic directions and priories Knowing what strategies will sustain the growth of the firm and what will be done in order to extract advantaged over the competitors
Suitable Techniques
The following techniques are suitable to serve the SWOT purpose: • SWOT Matching
Expected Outcomes
Once the SWOT is done, it is expected to have: • Firm’s strategic directions and priorities
Balanced Scorecard Quick Guide
Now • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary – Related Templates
• • • • • •
Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
SWOT Summary
Internal Factors External Factors Threats Opportuniti es
Strengths 1.Internal Strengths Matched with External Opportunities … … … … 3.Internal Strengths Matched with External Threats … … … …
e t a l p m Te
Weaknesses 2. Internal Weaknesses Relative to External Opportunities … … … … 4.Internal Weaknesses Relative to External Threats … … … …
Balanced Scorecard Quick Guide
SWOT Analysis SO1
SO
ST
WO
WT
Leverage the planned expansion for Jeddah airport to attract the growing charter market in the region
WT2
WO4
WO5
SO1
Strategic Explore Priorities New 1 Market Segments to Expand Revenue Base 2
WO1 WO2
SO2 WO3
WO6
e t a l p m Te
3
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Strategy Mapping Summary Introduction
Purpose
Strategy mapping is a strategic planning technique that helps in representing the firm’s strategies in such a way that shows the cause and effect of each strategy To ensure that each strategy does really serve a specific other strategy, and the overall strategies serve and feed the firm's vision
Suitable Techniques
The following techniques are suitable to serve the strategy mapping purpose: • Strategy Map
Expected Outcomes
Once the strategy mapping is done, it is expected to have: • Firm’s strategy map
Balanced Scorecard Quick Guide
Now • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary – Related Templates
• • • • •
KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
VISION
FINANCIAL PERSPECTIVE
CUSTOMER PERSPECTIVE
INTERNAL PERSPECTIVE
EARNING AND GROWTH PERSPECTIVE
e t a l p m Te
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
KPIs Setting Summary Introduction
Purpose
Suitable Techniques
Expected Outcomes
KPIs (Key Performance Indicators) are measures that indicate how is the progress of strategic objectives and targets achievements To indicate and alarm the management for strategy and targets achievements or deviations
•KPIs Profile • Benchmarking • KPIs Libraries Once the KPIs setting is done, it is expected to have: • Firm’s KPIs • KPIs definitions & frequency of review •KPIs formulas • Strategic objectives that are measures by specific KPIs • KPIs owners
Balanced Scorecard Quick Guide
Now • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary – Related Templates
• • • •
Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
KPI Definition
KPI Formula
Frequency
Owner
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
e t a l p m Te
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Targets Setting Summary Introduction
Purpose
Targets are those values (determined in each KPI) that the management wants to achieve within a certain time To make the KPIs and the measurement more quantifiable and measureable
Suitable Techniques
• • • •
Expected Outcomes
Once the targets setting is done, it is expected to have: • KPIs targets • Targets values & units
Benchmarking Forecasting Feasibility studies Market Research
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Initiatives Setting Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
Are those actions that are predesigned and dedicated to achieve the determined targets and to activate specific KPIs To help the firm achieving strategic objectives
• Benchmarking •Feasibility studies • Market Research • R&D
Once the initiatives setting is done, it is expected to have: • Strategic plan initiatives • Owners
Balanced Scorecard Quick Guide
Now • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary – Related Templates
• BSC Dashboard Summary • Performance Assessment Summary Balanced Scorecard Quick Guide
Strategic Priority
Strategic Priority A
Strategic Priority B
Strategic Priority C
Strategic Priority D
KPI 1. 2. 3.
KPI1 KPI2 KPI3
1. 2. 3.
KPI1 KPI2 KPI3
1. 2. 3.
KPI1 KPI2 KPI3
1. 2. 3.
KPI1 KPI2 KPI3
e t a l p m Te
Target
Initiative
VALUE (unit)
1. 2. 3.
Action A Action B Action C
VALUE (unit)
1. 2. 3.
Action A Action B Action C
VALUE (unit)
1. 2. 3.
Action A Action B Action C
VALUE (unit)
1. 2. 3.
Action A Action B Action C
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
BSC Dashboard Summary Introduction
Purpose
It is a simple visualization of the firm’s performance To help the management taking decisions and being up to date with the firm’s overall performance
Suitable Techniques
• MS Power Point Presentation • MS Excel • other software
Expected Outcomes
Once the BSC dashboard is done, it is expected to have: • Projected BSC perspectives and firm's strategic priorities with notifying designs
Balanced Scorecard Quick Guide
Now • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary – Related Templates
• Performance Assessment Summary Balanced Scorecard Quick Guide
Financial Financial Dimension Dimension Indicators Indicators
% % (Actual (Actual // Target) Target)
% % Internal Internal Processes Processes Dimension Dimension (Actual // (Actual Indicators Indicators Target) Target)
% % Internal Internal Processes Processes Dimension Dimension (Actual // (Actual Indicators Indicators Target) Target)
e t a l p m Te
% % Learning Learning & & Growth Growth Dimension Dimension (Actual // (Actual Indicators Indicators Target) Target)
Actual < 90% of Target 90% of Target < Actual < 100% of Target Actual >= 100% of Target Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Performance Assessment Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
It is a systematic examination of the whole strategic plan and its achievements and implications Contiguous learning and improvement • • • • •
Cause& Effect systematic inspections and assessment Corrective planning Preventive planning Lessons Learned
Once the performance assessment is done, it is expected to have: • Performance assessment reports
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary – Related Templates Balanced Scorecard Quick Guide
External External Factors Factors
Description Description
A A X X
Internal Internal Factors Factors 1 1
Operational Operational Lever Lever
Root Root Cause Cause
Corrective Corrective Action Action Plan Plan
% % Plan Plan Completed Completed 09/0 8
2 2
11/0 8
X X
dd/y y
04/0 9 30 %
01/0 9
33 %
80 % dd/y y w %
e t a l p m Te
Balanced Scorecard Quick Guide
Comments Comments
KPI(Target KPI(Target Unit) Unit)
Summary Summary of of drivers drivers for for performance performance
Summary Summary of of actions actions taken taken to to rectify rectify any any variance variance
Overall Overall Status Status Based Based on on both both current current performance performance and and on on cumulative-to-date cumulative-to-date performance performance
Gap =< -10% of Target
e t a l p m Te
-10% of Target < Gap < 0% of Target
Gap >= 0% of Target
Balanced Scorecard Quick Guide
End of Balanced Scorecard Quick Guide
Basics & Best Practices Terminologies
Balanced Scorecard Quick Guide
In addition, Strategic & Business Planning relies on well-defined, best practice terminology Strategic & Business Planning Process Key Terminology
Units Key Performanc e Indicators (KPI)
Goal Objective
Any Business or Functional Unit. According to the new organization structure, GACA has five Business Units (KKIA, KAIA, KFIA, Domestic Airports and ANS) and five Functional Units (Corporate Core, IT, Finance, Human Resources, Internal Audit) and a Safety and Economic Regulation function1 A measure used to monitor how well a business is achieving its quantifiable objectives. KPIs are found at both the strategic (assets turnover, customer satisfaction index) or operational levels (e.g. traffic volume)
Long-term target value (a number) of KPI; set to be attained after five years
Short-term target value (a number) of KPI; set to be attained in one year
Strategy
A means or action that will lead to the achievement of a goal (five years ahead)
Initiative
A means or action that will lead to the achievement of the objective (one years ahead). A set of initiatives form a strategy
Booz & Company 28 March 2009
Balanced Scorecard Quick Guide
Contents • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
1. Internal Scanning 2. External Scanning 3. SWOT Analysis 4. Strategy Mapping 5. KPIs Setting 6. Targets Setting
One Of The Best Practices For BSC Work Flow
7. Initiatives Setting 8. BSC Dashboard 9. Performance Monitoring Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Internal Scanning Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
Internal scanning is a strategic planning technique that helps in determining the firm’s strengths and weaknesses and any related issues inside the firm • Knowing firm’s strengths and weaknesses • Getting exposed to the firm’s processes and chain of commands The following techniques are suitable to serve the internal scanning purpose: • Value Chain Analysis • Capability Assessment Once the internal scanning is done, it is expected to have: • Firm’s strengths • Firm’s weaknesses • Firm’s processes and value transferred from each process to another • potentials for improvements
Balanced Scorecard Quick Guide
Now • BSC general work flow • Internal Scanning Summary – Related Templates
• • • • • • • •
External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Value Chain Analysis
Activity A
Activity B
Activity C
Key Key Key Responsibilities Responsibilities Responsibiliti Value Value es Value transferred transferred transferred
m e T
Activity D Key Responsibilitie sValue transferred
e t a pl Balanced Scorecard Quick Guide
Capability Assessment
Organizat People Process System ion Readiness Readiness Readiness Readiness (%) (%) (%) (%)
Evidence and Comments
Activity A
Activity B
Activity C
Activity D
e t a l p m Te
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
External Scanning Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
External scanning is a strategic planning technique that helps in determining the firm’s opportunities and threats and any related issues outside the firm • Knowing firm’s opportunities and threats • Getting exposed to the firm’s competitors and market changes The following techniques are suitable to serve the external scanning purpose: • Industry Trends • Porter 5 Forces Model Once the external scanning is done, it is expected to have: • Firm’s opportunities • Firm’s threats • New trends and demands • potentials for investments and competitive advantages
Balanced Scorecard Quick Guide
Now • BSC general work flow • Internal Scanning Summary • External Analysis Summary – Related Templates
• • • • • • •
SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Other TechnologyRegulatory Market Competitive Trends Trends Trends Trends Trends
Corporate Industry Trends
Trend Description
ing Evidence
Implications
Trend A Trend B Trend A Trend B Trend A Trend B Trend A Trend B Trend A Trend B
e t a l p m Te
Balanced Scorecard Quick Guide
General External Environment Technological Change
Specific International Events
Demographic Trends
Entry
Complementors
Rivalry Focal Firm
Buyers Legal/Political Conditions
e t a l p m Te
Industry Suppliers
Substitutes Cultural Trends
Economic Climate Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
SWOT Summary Introduction
Purpose
SWOT is a strategic planning technique that helps in determining the firm’s strategic directions and priories Knowing what strategies will sustain the growth of the firm and what will be done in order to extract advantaged over the competitors
Suitable Techniques
The following techniques are suitable to serve the SWOT purpose: • SWOT Matching
Expected Outcomes
Once the SWOT is done, it is expected to have: • Firm’s strategic directions and priorities
Balanced Scorecard Quick Guide
Now • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary – Related Templates
• • • • • •
Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
SWOT Summary
Internal Factors External Factors Threats Opportuniti es
Strengths 1.Internal Strengths Matched with External Opportunities … … … … 3.Internal Strengths Matched with External Threats … … … …
e t a l p m Te
Weaknesses 2. Internal Weaknesses Relative to External Opportunities … … … … 4.Internal Weaknesses Relative to External Threats … … … …
Balanced Scorecard Quick Guide
SWOT Analysis SO1
SO
ST
WO
WT
Leverage the planned expansion for Jeddah airport to attract the growing charter market in the region
WT2
WO4
WO5
SO1
Strategic Explore Priorities New 1 Market Segments to Expand Revenue Base 2
WO1 WO2
SO2 WO3
WO6
e t a l p m Te
3
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Strategy Mapping Summary Introduction
Purpose
Strategy mapping is a strategic planning technique that helps in representing the firm’s strategies in such a way that shows the cause and effect of each strategy To ensure that each strategy does really serve a specific other strategy, and the overall strategies serve and feed the firm's vision
Suitable Techniques
The following techniques are suitable to serve the strategy mapping purpose: • Strategy Map
Expected Outcomes
Once the strategy mapping is done, it is expected to have: • Firm’s strategy map
Balanced Scorecard Quick Guide
Now • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary – Related Templates
• • • • •
KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
VISION
FINANCIAL PERSPECTIVE
CUSTOMER PERSPECTIVE
INTERNAL PERSPECTIVE
EARNING AND GROWTH PERSPECTIVE
e t a l p m Te
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
KPIs Setting Summary Introduction
Purpose
Suitable Techniques
Expected Outcomes
KPIs (Key Performance Indicators) are measures that indicate how is the progress of strategic objectives and targets achievements To indicate and alarm the management for strategy and targets achievements or deviations
•KPIs Profile • Benchmarking • KPIs Libraries Once the KPIs setting is done, it is expected to have: • Firm’s KPIs • KPIs definitions & frequency of review •KPIs formulas • Strategic objectives that are measures by specific KPIs • KPIs owners
Balanced Scorecard Quick Guide
Now • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary – Related Templates
• • • •
Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
KPI Definition
KPI Formula
Frequency
Owner
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
Definition
X+Y = Z
W/M/Q/S/A
Name / Dept.
e t a l p m Te
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Targets Setting Summary Introduction
Purpose
Targets are those values (determined in each KPI) that the management wants to achieve within a certain time To make the KPIs and the measurement more quantifiable and measureable
Suitable Techniques
• • • •
Expected Outcomes
Once the targets setting is done, it is expected to have: • KPIs targets • Targets values & units
Benchmarking Forecasting Feasibility studies Market Research
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Initiatives Setting Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
Are those actions that are predesigned and dedicated to achieve the determined targets and to activate specific KPIs To help the firm achieving strategic objectives
• Benchmarking •Feasibility studies • Market Research • R&D
Once the initiatives setting is done, it is expected to have: • Strategic plan initiatives • Owners
Balanced Scorecard Quick Guide
Now • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary – Related Templates
• BSC Dashboard Summary • Performance Assessment Summary Balanced Scorecard Quick Guide
Strategic Priority
Strategic Priority A
Strategic Priority B
Strategic Priority C
Strategic Priority D
KPI 1. 2. 3.
KPI1 KPI2 KPI3
1. 2. 3.
KPI1 KPI2 KPI3
1. 2. 3.
KPI1 KPI2 KPI3
1. 2. 3.
KPI1 KPI2 KPI3
e t a l p m Te
Target
Initiative
VALUE (unit)
1. 2. 3.
Action A Action B Action C
VALUE (unit)
1. 2. 3.
Action A Action B Action C
VALUE (unit)
1. 2. 3.
Action A Action B Action C
VALUE (unit)
1. 2. 3.
Action A Action B Action C
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
BSC Dashboard Summary Introduction
Purpose
It is a simple visualization of the firm’s performance To help the management taking decisions and being up to date with the firm’s overall performance
Suitable Techniques
• MS Power Point Presentation • MS Excel • other software
Expected Outcomes
Once the BSC dashboard is done, it is expected to have: • Projected BSC perspectives and firm's strategic priorities with notifying designs
Balanced Scorecard Quick Guide
Now • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary – Related Templates
• Performance Assessment Summary Balanced Scorecard Quick Guide
Financial Financial Dimension Dimension Indicators Indicators
% % (Actual (Actual // Target) Target)
% % Internal Internal Processes Processes Dimension Dimension (Actual // (Actual Indicators Indicators Target) Target)
% % Internal Internal Processes Processes Dimension Dimension (Actual // (Actual Indicators Indicators Target) Target)
e t a l p m Te
% % Learning Learning & & Growth Growth Dimension Dimension (Actual // (Actual Indicators Indicators Target) Target)
Actual < 90% of Target 90% of Target < Actual < 100% of Target Actual >= 100% of Target Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary Balanced Scorecard Quick Guide
Performance Assessment Summary Introduction
Purpose
Suitable Techniques Expected Outcomes
It is a systematic examination of the whole strategic plan and its achievements and implications Contiguous learning and improvement • • • • •
Cause& Effect systematic inspections and assessment Corrective planning Preventive planning Lessons Learned
Once the performance assessment is done, it is expected to have: • Performance assessment reports
Balanced Scorecard Quick Guide
Now • • • • • • • • • •
BSC general work flow Internal Scanning Summary External Analysis Summary SWOT Analysis Summary Strategy Mapping Summary KPIs Setting Summary Targets Setting Summary Initiatives Setting Summary BSC Dashboard Summary Performance Assessment Summary – Related Templates Balanced Scorecard Quick Guide
External External Factors Factors
Description Description
A A X X
Internal Internal Factors Factors 1 1
Operational Operational Lever Lever
Root Root Cause Cause
Corrective Corrective Action Action Plan Plan
% % Plan Plan Completed Completed 09/0 8
2 2
11/0 8
X X
dd/y y
04/0 9 30 %
01/0 9
33 %
80 % dd/y y w %
e t a l p m Te
Balanced Scorecard Quick Guide
Comments Comments
KPI(Target KPI(Target Unit) Unit)
Summary Summary of of drivers drivers for for performance performance
Summary Summary of of actions actions taken taken to to rectify rectify any any variance variance
Overall Overall Status Status Based Based on on both both current current performance performance and and on on cumulative-to-date cumulative-to-date performance performance
Gap =< -10% of Target
e t a l p m Te
-10% of Target < Gap < 0% of Target
Gap >= 0% of Target
Balanced Scorecard Quick Guide
End of Balanced Scorecard Quick Guide
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Bsc 3s2xa
July 2020 0
Bsc 3s2xa
August 2021 0
Bsc 3s2xa
November 2019 72