Strategic planning with balanced scorecards CG
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Strategic planning with balanced scorecards CG
- 1. STRATEGIC PLANNING WITH BALANCED SCORECARDS
- 4. Agenda
- 5. Kaplan + Norton Harvard Business School Strategic Plan Clear Vision Clear Mission Balanced Scorecards
- 6. Where do we want to go How do we get there Where are we now
- 7. 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?
- 8. Where do we want to go How do we get there Where are we now World Health Organisation Model has 7 sections
- 9. What Makes a Great Mission Statement
- 10. Concise Memorable Customer Focused Inspirational What do you want others to think of you?
- 11. 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. ?
- 12. • 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. FACEBOOK • 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
- 13. 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.
- 18. Internal views External S W O T SMART Goals 1 3 5 Financial Customers Operational Excellence Innovation and Training Balanced Scorecard
- 19. Financial and stakeholders Customers and markets Operational and Production Innovation and Development Balanced Scorecard
- 20. Mission Vision What is the difference?
- 22. Company • What is it Vision • Why is it important Statement • What makes a good one
- 23. Future – Using -ING Clear Descriptive Awesome Time
- 24. 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 entertainment for people of all ages, everywhere." ? • Affordable solutions for better living ? • The World's Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere ?
- 25. • World class tube for a world class city London 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 entertainment for people of all ages, everywhere. Disney • Affordable solutions for better living Ikea • The World's premier food company, offering nutritious, superior tasting foods to people everywhere Heinz
- 26. Group work In 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
- 27. • 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’
- 29. Financial and stakeholders Customers and markets Operational and Production Innovation and Development Balanced Scorecard
- 30. Financial Reduce overheads by % Increase revenue by % Create Bonus fund of SAR
- 31. Operational Improve Attendance by % Reduce Product Failures by % Produce more x per month
- 32. Customers Increase market share by % Increase Customer satisfaction scores Increase new customers to 50 per period
- 33. Development Invest in 12 month Manager development Scheme Deliver World Class customer service training to all front line staff Create 4 new products/services
- 34. Group work In 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?
- 36. 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?
- 38. Measure Figures Progress Change Example Customer satisfaction Rebranding % increase in sales Source Surveys/MB WA Project Plan Financial Data Period Quarterly Monthly Weekly
- 39. 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?
- 40. Summary
Hinweis der Redaktion
- K+N Harvard Business school did research that showed the most successful companies had all of the above in common.
- What is a Strategic Plan? Make it simple do not over complicate things as it needs to be understood by all levels of staff to garner success.
- 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?
- World Health Organisation Model – What format should your company take?
- Throw the question to the floor and move on.
- Read the Mission Statements above and tell me what companies you believe they belong to? Maybe get group to write answers and provide a prize
- If you can name a company just by its mission statement it has obviously done a good
- In groups consider where are you now? How do your customers perceive you? How do your staff see your direction and delivery? Look at your current statement? Look at 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.
- This is our mission statement – It basically illustrates our present and our purpose. Type or write Mission Statement and place on wall if completed. Encourage Companies to involve their staff and management teams and explain that this is just showing you the process. They may want to consider surveys or focus groups.
- A = Where are we now Z = Where are we going
- How are we perceived by our team? Our Customers? Our Stakeholders? What are our strengths, Weaknesses, Opportunities and threats?
- How long do we have to achieve our goals. Make them Specific, Measurable, Achievable, Realistic and Timely 1, 3 and 5 years…Maybe 10 years, just make sure you have periodical strategic meetings to ensure that you are on track.
- Once all this is complete you can take a hollistic view of your company or balanced scorecard view, which we will discuss in more detail in the future inshAllah.
- Read the Vision Statements above and tell me what companies you believe they belong to? Maybe get group to write answers and provide a prize
- Answers
- In groups consider what the future looks like for your industry in 5-10 years. What media represents your company best? Let the group chose the publication or media outlet. Bullet point the cover story or TV advert. Think quantitative in either numbers, SAR, Market share, geography
- Let us recap…. Strategic Plan, Clear vision statement, clear mission statement. K+N Harvard Business school did research that showed the most successful companies had all of the above in common.
- KPIs, metrics, dashboards, performance scorecards are all measures…. The balanced scorecards take a mix of measures. There are many models that are used according to a company’s needs but I’ve taken a basic concept here with the four most common ones.
- In 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 and how often should they reviewed? Give handouts with boxes to complete their work. These will be handed back in to enable you to produce a report to the MD at the end of the sessions.
- How does this Strategic Plan differ from the generic model taught? What are the targets? What do you think each line indicates? Who will see this scores? Why are they useful? Who will act on them? How can we get a more accurate picture and do route cause analysis?
- In groups discuss the measures that you wish to use? When are they going to be reviewed? Why select this time frame? What are the benefits? How can the Scorecard be used? Who will see the scorecard? What will happen if goals are exceeded or not achieved?
- KPIs, Performance Measures, Dashboard, Metrics – Basically how we measure the business achieving its goals – This is the scorecard part of the balanced scorecard. How we set them including targets What goes in them How do we use them
- In groups discuss the KPIs you will use in your company? What data sources will you use? How will you use them and what targets will you set? What will you do if targets are exceeded or do not meet the required standard?
- Tell them what you have told them. Give feedback sheets that are not generic but relevant to the course and are specific. Ask what actions will they take away from the day and utilise in their own work place? What conversations will take place?