Balanced Scorecards for Colleges and Universities: Development and Deployment
Strategic planning with balanced scorecards CG
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Transcript of Strategic planning with balanced scorecards CG
STRATEGIC PLANNING WITH BALANCED SCORECARDS
Welcome and Introduction
Carl Garner
Your Name
Your Passion
Something Interesting
Agenda
Kaplan + Norton Harvard Business School
Strategic Plan
Clear Vision
Clear Mission
Balanced Scorecards
Where do we
want to go
How do we get there
Where are we
now
Group work
In groups consider the basic
questions and
return with your
answers?
• What other additions to the circle could be added and why?
• Do you think your company requires detail?
• What are the benefits of both models?
Where do we
want to go
How do we get there
Where are we
now
World Health Organisation Model has 7 sections
What Makes a Great Mission Statement
Concise
Memorable
Customer Focused
Inspirational
What do you want others to think of you?
Quick Quiz• to provide fast and easy video access and the
ability to share videos frequently
?
• to give people the power to share and make the world more open and connected.
?
• To be the world’s greatest kids’ brand?
• bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.
?
• to offer a wide range of home furnishing items of good design and function, excellent quality and durability, at prices so low that the majority of people can afford to buy them.
?
• to provide fast and easy video access and the ability to share videos frequently
YOUTUBE
• to give people the power to share and make the world more open and connected.
• To be the world’s greatest kids’ brand
TOYS R US
• bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.
NIKE
• to offer a wide range of home furnishing items of good design and function, excellent quality and durability, at prices so low that the majority of people can afford to buy them.
IKEA
Group work
In groups consider
the following
• Where are you now? • How do your customers
perceive you? • How do your staff see your
direction and delivery? • Look at your current statements
and other great statements. • Use sticky notes and brain
storm some buzz words and place them on the boards. Do NOT worry about articulation at this point.
A
Z
A
ZInternalviews
External
S WO T
A
ZInternalviews
External
S WO T
SMARTGoals
1
3
5
A
ZInternalviews
External
S WO T
SMARTGoals
1
3
5
Financial Customers
Operational Excellence
Innovation and Training
Balanced Scorecard
Financial and stakeholders
Customers and markets
Operational and Production
Innovation and Development
Balanced Scorecar
d
Mission Vision
What is the difference?
Mission
Why you exist
VisionWhere you are going
Company• What is it
Vision• Why is it
important
Statement• What
makes a good one
Future – Using -ING
Clear
Descriptive
Awesome
Time
Quick Quiz• World Class tube for a world class city?
• To build a place where people can come to find and discover anything they might want to buy online"
?
• We create happiness by providing the finest in entertainmentfor people of all ages, everywhere."
?
• Affordable solutions for better living?
• The World's Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere
?
• World class tube for a world class cityLondon Underground
• To build a place where people can come to find and discover anything they might want to buy online
Amazon
• We create happiness by providing the finest in entertainmentfor people of all ages, everywhere.
Disney
• Affordable solutions for better livingIkea
• The World's premier food company, offering nutritious, superior tasting foods to people everywhere
Heinz
Group workIn
groups consider what the
future looks
like for your
industry in 5-10
years
• What media represents your company best?
• Bullet point the cover story or TV advert.
• Think quantitative in either numbers, SAR, Market share, geography
• Involve your teams, focus groups, customer surveys and management
People
• Think well into the future and be ambitious
Perspective
• Consider the exercises you did earlier and adapt to suit your own company’s ability to accommodate staff opinion
The ‘How’
Strategic Plan
Clear Vision
Clear Mission
Balanced Scorecards
Financial and stakeholders
Customers and markets
Operational and Production
Innovation and Development
Balanced Scorecar
d
Financial
Reduce overheads by %
Increase revenue by %
Create Bonus fund of SAR
Operational
Improve Attendance by %
Reduce Product Failures by %
Produce more x per month
Customers
Increase market share by %
Increase Customer
satisfaction scores
Increase new customers to 50
per period
Development
Invest in 12 month Manager
development Scheme
Deliver World Class customer
service training to all front line staff
Create 4 new products/services
Group workIn groups consider
the examples
and discuss
what your own
company measures
could be and how
best to quantify
them
• What time lines should be used regarding measurements?
• How often should they be reviewed?
• What actions should take place after review?
Group work
In groups discuss
the measures
that you have
chosen.
• How does it translate into a scorecard?
• How can the Scorecard be used?
• Who will see the scorecard? • What will happen if goals are
exceeded or not achieved?
Key Performance Indicators
Setting
Data
Use
Measure Figures Progress Change
Example Customer satisfaction
Rebranding % increase in sales
Source Surveys/MBWA
Project Plan Financial Data
Period Quarterly Monthly Weekly
Group work
In groups
discuss the KPIs you will
use in your
company
• What data sources will you use?
• How will you use them• What targets will you set? • What will you do if targets
are exceeded or do not meet the required standard?
Summary
Thank You
Carl Garner