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       euseden

                                           There has been a significant shift in strategic
       This paper is written by
                                           priorities of organizations. Intangible assets,
       Sheshagiri G Hegde of euseden.
       He is consultant in strategy and
                                           such as capability to acquire new customers,
       scorecard. He can be reached
                                           brand, competencies of people, maturity of
       on sheshagiri@euseden.com
                                           business processes, information technology
       +91 99808 59339

                                           etc have become extremely important to
                                           organizations’ success. However, companies
                                           continue to plan with financial planning &
                                           budgeting tools that provide not much
                                           insight into such aspects.
                                           The way organizations plan and manage
                                           needs substantial change. Managers need a
                                           new way of measuring execution of goals
                                           and organization’s performance at all levels.
  © All rights reserved by euseden, 2008
Budget-planning, which is the most
  Budget based                                                 widely used system of planning, splits
                                                               the organization into either cost or

  Planning is not enough                                       revenue centers. In its basic nature, it
                                                               is essentially finer break-down of the
                                                               annual P & L and Balanced sheet.
                                                               These centers are organized around
                                                               the organizational hierarchy for
                                                               managing. For decades this system of
                                                               planning and control has served
                                                               executive leaders and managers in
                                                               managing the organization.


                                                               Such budget planning and control
                                                               however, today, has sever limitations
                                                               when it comes to business planning
                                                               or strategy planning and execution.
                                                               For instance, budget planning does
                                                               not allow us to plan on certain key
                                                               aspects such as – customer
                                                               relationship, brand, human capital
                                                               etc. Can we think of building business
                                                               without building good brands? A
                                                               good cadre of managers? A good
                                                               portfolio business processes?
              Plan around strategy?                            However, budget planning does not
                                                               provide any frame work for such
              Strategy makes more sense today than ever.
                                                               planning. And we have no other
              Strategy is a game plan- a company, a
                                                               process, system or tools to set goals
              division, a business unit, or even a team has.
                                                               around these aspects and manage
              It is the plan that describes how it is going
                                                               them in enterprise-wide manner.
              to win. At simplest level, strategy is a high
                                                                Ironically, these aspects have become
              level business logic of its future success..
                                                               strategic for business success than
                                                               control on expenses. We need a
              It is important that organization or business
                                                               system that provides template for
              unit consciously builds a hypothesis for its
                                                               effective planning of such aspects and
              success. An integrated set of objectives
                                                               also help us measure the
              linked in cause and effect chain. This can be
                                                               effectiveness of actions takes on such
              achieved through tools like strategy maps &
                                                               aspects. Hence while budgeting is
              scorecards.
                                                               important, it is not enough.
© All rights reserved by euseden, 2008
Balanced
     Scorecard
     Provides
     integrated
     Framework




                                                                           across these perspectives essentially in a top-
      Balanced scorecard provides a planning and
                                                                           down, cause and effect logic. For instance, if
      measurement framework that is organized
                                                                           we set the objective as “ Grow aggressively”
      around organization’s strategic goals. As
                                                                           in financial perspective, we start looking for
      explained earlier, balanced scorecard (BSC)
                                                                           objectives that can cause it happen at lower
      takes strategy as set of strategic objectives
                                                                           layers of logic (Refer the above figure).
      across balanced perspectives. Strategy must
      logically explain high level game plan of the
                                                                           Also, managers need to define measures for
      organization. With tools like strategy map,
                                                                           all the objectives set as explained above. Due
      BSC helps managers to articulate their
                                                                           to such measures now managers can build
      strategy.
                                                                           organization wide system of strategy
                                                                           execution. Like financial system, this system
      BSC has four perspectives – financial,
                                                                           will facilitate goal setting for strategic
      customer, internal and learning & growth.
                                                                           perspectives and tracking of all the numbers
       Managers are asked to set strategic
                                                                           related to such strategic goals.
       objectives
© All rights reserved by euseden, 2008



For more information on balanced scorecard and how it can help your organization visit us at www.euseden.com or email us at
marketing@euseden.com

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Planning with balanced scorecard

  • 1. © All rights reserved by euseden 2008 euseden There has been a significant shift in strategic This paper is written by priorities of organizations. Intangible assets, Sheshagiri G Hegde of euseden. He is consultant in strategy and such as capability to acquire new customers, scorecard. He can be reached brand, competencies of people, maturity of on sheshagiri@euseden.com business processes, information technology +91 99808 59339 etc have become extremely important to organizations’ success. However, companies continue to plan with financial planning & budgeting tools that provide not much insight into such aspects. The way organizations plan and manage needs substantial change. Managers need a new way of measuring execution of goals and organization’s performance at all levels. © All rights reserved by euseden, 2008
  • 2. Budget-planning, which is the most Budget based widely used system of planning, splits the organization into either cost or Planning is not enough revenue centers. In its basic nature, it is essentially finer break-down of the annual P & L and Balanced sheet. These centers are organized around the organizational hierarchy for managing. For decades this system of planning and control has served executive leaders and managers in managing the organization. Such budget planning and control however, today, has sever limitations when it comes to business planning or strategy planning and execution. For instance, budget planning does not allow us to plan on certain key aspects such as – customer relationship, brand, human capital etc. Can we think of building business without building good brands? A good cadre of managers? A good portfolio business processes? Plan around strategy? However, budget planning does not provide any frame work for such Strategy makes more sense today than ever. planning. And we have no other Strategy is a game plan- a company, a process, system or tools to set goals division, a business unit, or even a team has. around these aspects and manage It is the plan that describes how it is going them in enterprise-wide manner. to win. At simplest level, strategy is a high Ironically, these aspects have become level business logic of its future success.. strategic for business success than control on expenses. We need a It is important that organization or business system that provides template for unit consciously builds a hypothesis for its effective planning of such aspects and success. An integrated set of objectives also help us measure the linked in cause and effect chain. This can be effectiveness of actions takes on such achieved through tools like strategy maps & aspects. Hence while budgeting is scorecards. important, it is not enough. © All rights reserved by euseden, 2008
  • 3. Balanced Scorecard Provides integrated Framework across these perspectives essentially in a top- Balanced scorecard provides a planning and down, cause and effect logic. For instance, if measurement framework that is organized we set the objective as “ Grow aggressively” around organization’s strategic goals. As in financial perspective, we start looking for explained earlier, balanced scorecard (BSC) objectives that can cause it happen at lower takes strategy as set of strategic objectives layers of logic (Refer the above figure). across balanced perspectives. Strategy must logically explain high level game plan of the Also, managers need to define measures for organization. With tools like strategy map, all the objectives set as explained above. Due BSC helps managers to articulate their to such measures now managers can build strategy. organization wide system of strategy execution. Like financial system, this system BSC has four perspectives – financial, will facilitate goal setting for strategic customer, internal and learning & growth. perspectives and tracking of all the numbers Managers are asked to set strategic related to such strategic goals. objectives © All rights reserved by euseden, 2008 For more information on balanced scorecard and how it can help your organization visit us at www.euseden.com or email us at marketing@euseden.com