Description
This is a presentation about the concept of balance scorecard aligning the strategy of the company with customer's perspective, internal business perspective, financial perspective, innovation and learning perspective.
Balanced Scorecard: linking strategic planning to measurement and communication
Adapted from Bond University Example in Australia
Balanced Scorecard (BSC)
? Devised to overcome shortcomings of
previous systems ? Four Perspectives:
? ? ?
?
Customer - How do customers see us? Internal Business - What must we excel at? Innovation and Learning - How can we continue to improve? Financial - How do we look to stakeholders?
Aims BSC
? To enable the measurement of all critical activities ? To provide a strategic management system to monitor implementation of the strategic plan ? To facilitate communication with all stakeholders in particular with staff
Balanced Scorecard A Balanced Pathway to Development
Customer Perspective
Objectives Measures Targets How do our customers see us?
Internal Business
Objectives Measures What must we excel at? Targets
Innovation and Learning Mission, Vision and Strategic Goals Financial Perspective
Objectives Measures Targets How do we look to stakeholders? How can we continue to improve and create value? Objectives Measures Targets
In the beginning….
? Strategic plans, lots of stats collected ? Are we doing things right? (How) - process
To
? Are we doing the right things? (What) outcome ? Holistic strategic management system linked to the University’s BSC ? Cascaded to all levels and units
Then…
?
?
What processes must function effectively to achieve the things stakeholders regard as important - objectives What information could be collected to help judge the degree to which they are operating effectively -measures
Cause-effect linkages
?
?
How individual staff members and teams help contribute to the overall outcomes Connecting the desired outcomes with the drivers of results
? ?
E.g. shelving and student retention; Information literacy training and excellence in teaching, learning and research
Objectives, measures and targets
?
?
?
Large numbers of objectives Challenge of culling them Measures
?
?
? ?
Quantifiable Easily understood Relevant Inclusive E.g. Shelving turnaround times, number of unfilled document delivery requests
?
Targets for each of the measures
?
Customer Perspective
Objectives Enhance customer satisfaction Measures Targets Improve and monitor Maintain or improve Customer satisfaction survey, suggestion box focus groups Enhance Comments and communication and suggestions received collaboration Library involvement in Uni wide groups Ensure customers’ Number of irritants or awareness of gaps reported quality resources Take-up rate Enhance Library’s Library staff contribution to representation in university University-wide activities marketing Number of school visits Number of Alumni borrowers/Associate borrowers
Monitor and reduce Increase Maintain or increase
Internal Business Perspective
Objectives Continuous improvement Measures Targets Meeting service standards/charter Increase e.g. Shelving turnaround times Customer response times Reduce Percent unfilled document delivery requests Staff costs spent on processing Number of new products, new publications Increase and services introduced Percentage of required and recommended materials available on the shelves Staff formal training hours Attendees per staff member Attendees at orientation tours Increase
Improved product range & service development Improved availability of course materials Cost effective implementation of information skills
Increase
Innovation and Learning
Objectives Recruit, motivate and develop highest quality staff Information skills training for academics and students Library and information resources,facilities and services Measures Percent of budget spent on staff development Staff satisfaction index Quality of student assignments Research publications Successful research grants Library budget as a percent of the University budget Targets Increase
Increase
Maintain or increase
Financial Perspective
Objectives Cost effective allocation of resources Improved value for money Measures Acquisitions expenditure as a percent of staff costs Targets Increase
Active borrowers Usage of resources, services Percent items used within one year of acquisition Performance of vendors/suppliers Increased income Income from sources other from non-University than the university sources Maximise asset Efficiency and effectiveness in utilisation the use of facilities, space, services, systems and resources
Increase Improve
Monitor Increase
Increase
Adoption
? ?
?
? ?
Linking the BSC to a set of initiatives and projects Each project with its own set of objectives, owners, timelines and targets Review – three times a year Annual review by all staff – reprioritisation Team and individual staff adoption of their own BSCs
Issues
?
?
?
?
?
?
Time-consuming Takes a long time to cascade to all levels Needs to be driven both top down and bottom up Quantitative measures – culture of libraries Need to eliminate non-strategic initiatives and objectives Linking budgeting to the strategy development
Conclusion
?
? ? ? ? ? ?
BSC provided a way of articulating what, why and how well aspects of our plan and how the plan complements the University strategic plan Ease of integration into all aspects of activities Another tool, methodology A strategic management system Tool to communicate with the stakeholders Tool to help achieve continuous improvement Journey, not a project
doc_689652296.pptx
This is a presentation about the concept of balance scorecard aligning the strategy of the company with customer's perspective, internal business perspective, financial perspective, innovation and learning perspective.
Balanced Scorecard: linking strategic planning to measurement and communication
Adapted from Bond University Example in Australia
Balanced Scorecard (BSC)
? Devised to overcome shortcomings of
previous systems ? Four Perspectives:
? ? ?
?
Customer - How do customers see us? Internal Business - What must we excel at? Innovation and Learning - How can we continue to improve? Financial - How do we look to stakeholders?
Aims BSC
? To enable the measurement of all critical activities ? To provide a strategic management system to monitor implementation of the strategic plan ? To facilitate communication with all stakeholders in particular with staff
Balanced Scorecard A Balanced Pathway to Development
Customer Perspective
Objectives Measures Targets How do our customers see us?
Internal Business
Objectives Measures What must we excel at? Targets
Innovation and Learning Mission, Vision and Strategic Goals Financial Perspective
Objectives Measures Targets How do we look to stakeholders? How can we continue to improve and create value? Objectives Measures Targets
In the beginning….
? Strategic plans, lots of stats collected ? Are we doing things right? (How) - process
To
? Are we doing the right things? (What) outcome ? Holistic strategic management system linked to the University’s BSC ? Cascaded to all levels and units
Then…
?
?
What processes must function effectively to achieve the things stakeholders regard as important - objectives What information could be collected to help judge the degree to which they are operating effectively -measures
Cause-effect linkages
?
?
How individual staff members and teams help contribute to the overall outcomes Connecting the desired outcomes with the drivers of results
? ?
E.g. shelving and student retention; Information literacy training and excellence in teaching, learning and research
Objectives, measures and targets
?
?
?
Large numbers of objectives Challenge of culling them Measures
?
?
? ?
Quantifiable Easily understood Relevant Inclusive E.g. Shelving turnaround times, number of unfilled document delivery requests
?
Targets for each of the measures
?
Customer Perspective
Objectives Enhance customer satisfaction Measures Targets Improve and monitor Maintain or improve Customer satisfaction survey, suggestion box focus groups Enhance Comments and communication and suggestions received collaboration Library involvement in Uni wide groups Ensure customers’ Number of irritants or awareness of gaps reported quality resources Take-up rate Enhance Library’s Library staff contribution to representation in university University-wide activities marketing Number of school visits Number of Alumni borrowers/Associate borrowers
Monitor and reduce Increase Maintain or increase
Internal Business Perspective
Objectives Continuous improvement Measures Targets Meeting service standards/charter Increase e.g. Shelving turnaround times Customer response times Reduce Percent unfilled document delivery requests Staff costs spent on processing Number of new products, new publications Increase and services introduced Percentage of required and recommended materials available on the shelves Staff formal training hours Attendees per staff member Attendees at orientation tours Increase
Improved product range & service development Improved availability of course materials Cost effective implementation of information skills
Increase
Innovation and Learning
Objectives Recruit, motivate and develop highest quality staff Information skills training for academics and students Library and information resources,facilities and services Measures Percent of budget spent on staff development Staff satisfaction index Quality of student assignments Research publications Successful research grants Library budget as a percent of the University budget Targets Increase
Increase
Maintain or increase
Financial Perspective
Objectives Cost effective allocation of resources Improved value for money Measures Acquisitions expenditure as a percent of staff costs Targets Increase
Active borrowers Usage of resources, services Percent items used within one year of acquisition Performance of vendors/suppliers Increased income Income from sources other from non-University than the university sources Maximise asset Efficiency and effectiveness in utilisation the use of facilities, space, services, systems and resources
Increase Improve
Monitor Increase
Increase
Adoption
? ?
?
? ?
Linking the BSC to a set of initiatives and projects Each project with its own set of objectives, owners, timelines and targets Review – three times a year Annual review by all staff – reprioritisation Team and individual staff adoption of their own BSCs
Issues
?
?
?
?
?
?
Time-consuming Takes a long time to cascade to all levels Needs to be driven both top down and bottom up Quantitative measures – culture of libraries Need to eliminate non-strategic initiatives and objectives Linking budgeting to the strategy development
Conclusion
?
? ? ? ? ? ?
BSC provided a way of articulating what, why and how well aspects of our plan and how the plan complements the University strategic plan Ease of integration into all aspects of activities Another tool, methodology A strategic management system Tool to communicate with the stakeholders Tool to help achieve continuous improvement Journey, not a project
doc_689652296.pptx