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Titel

Name and surname
Company
Titel

„I have a dream…“
Martin Luther King, 1963
Titel

A dream, a vision
is the beginning
of a strategic process
Dr. Herwig R. Friedag
Born in 1950, graduate economist

independent consultant specialised in:

 Implementation of the Balanced Scorecard in companies
 Practice-orientated Balanced Scorecard workshops
 20 years leader of the public relations board of the ICV
 Lecturer at the Humboldt University Berlin and at
Donau Universität Krems (Austria)
Dr. Herwig R. Friedag

Hobbies: moving in nature, volleyball, sailing

… and travelling to Croatia
© Friedag 2013

Friedag Consult
Beskidenstr. 33, D 14129 Berlin
Fon +49 30 80 40 40 00
Fax +49 30 80 40 40 01
consult@friedag.com
www.friedag.com
4
Publications

2003
2004
2001
1999, 2000, 2002

2009
2000, 2002, 2004

2002, 2003, 2005, 2011

Total number of copies >
85.000
in CZ, D, FIN, PL, RUS
© Friedag 2013

2005

5
Combine Your Balanced Scorecard
with a strategy
Agenda
01
02
03
04

Introduction
Strategy - the bases of securing the company‟s future
Organising the work with a BSC
Conclusions

© Friedag 2013

6
We want to realise our dreams,
so we have to prepare our future,
even though it is not a 100% controllable !
„Whatever will be, will be…“
We can, we have to do something today for our future.

Therefore, we should

 at least meet the requirements of the future
 or better: set standards
 or best: try to influence the changes in society

© Friedag 2013

7
Why could a BSC make sense for your company?
 We achieve joint objectives
 We translate strategies into action

 By communication we achieve thinking, responsibility, objectiveorientated action of our employees and partners

 We assure sustainability of our company

© Friedag 2013

8
Is the BSC sensible for Your company ?
52% of the Germans have secluded with their employer.
Responding to the question in a representative study, whether they would
presumably be working at their current company next year, they
answered:
„No way - as soon as I find a job in
a different company,
I will be leaving the firm!"

Source: Financial Times Germany, June 02 2004, page 2
© Friedag 2013

9
Requirements to start the process of strategy
implementation
 Willingness for change
 Reduce Blame-Culture – learning to learn from mistakes:
“no mistake is the biggest mistake”

 Willingness of management to work out
and discuss together strategic objectives

 A strategy !

© Friedag 2013

10
Combine Your Balanced Scorecard
with a strategy
Agenda
01
02
03
04

Introduction
Strategy - the bases of securing the company‟s future
Organising the work with a BSC
Conclusions

© Friedag 2013

12
Strategy
What is the strategic objective of a company / an organisation?

 The basic strategic objective is that of securing
the sustainability of a company/organisation.

 Sustainability can be achieved only on the
condition that all relevant stakeholders can
benefit from it.

Consequently the objective of a strategy is that of generating a
dynamic equilibrium of the benefits which can accepted by all the
relevant stakeholders.
© Friedag 2013

13
What is strategic, what is operational ?
to do ?

long-term ?
to do nothing ?

short-term ?

Expenditures
strategic

operational

develop

Potentials

exploit

Marketing

Possibilities
+
competencies

Orders / Sales

Develop capacities

Use capacities

Quality potential

Quality assurance

HR competences

Employee engagement

Investor Relations

Safeguarding liquidity

Partnership

Partner engagement

Growth of potentials

Growth of money
© Friedag 2013

14
Kaplan/Norton

Balanced Scorecard:
translate strategy into action!

Only the one who possesses a strategy, can implement it.
Therefore: The one who wants a Balanced Scorecard has
to start with a strategy!

© Friedag 2013

15
Seven strategic questions
Business-idea

Future orientation

Business-model

1. Do we know the business-idea of
our company ?
2. Is it possible to earn enough money
with this business-idea ?

Orientation

Concretion

Reporting

4. Do we have concrete ideas to reach
the orientation ?

Balanced Scorecard

5. With which strategic projects do we
want to start now ?

Medium term planning

Business processes

3. What kind of corporate policy
orientation follows our business-idea ?

6. How do we connect these strategic
projects into our business plans ?

Budget / Liquidity
© Friedag 2013

7. How can we finance the planned
strategic projects ?
16
Strategic dimensions and how we proceed
Strategic
concept

“timeless“
Business-idea

Business-model

3 – 10 years

Strategy
development
Concretion

Corporate Policy Orientation
1 – 3 years

Strategic House

Reporting-Scorecard
balance
of goals

Balanced Scorecard

Strategic
Projects

Strategy
implementation

Intermediate-term planning
running business
current year

(Integration into the management cycle)
middle term planning / Budget / Profit / Liquidity
© Friedag 2013

Use of
strategic
potentials
17
Four steps to create a strategy
1. Business-idea
2. Business-model
3. Corporate Policy Orientation (CPO)
4. Concretion

 Balanced Scorecard

© Friedag 2013

18
Business-Idea
The reason to be
proud
values
(Identification)

What is our
goal ?






Vision
(basic goal)

What could for us be
always a challenge ?
No target, but a motivation for us,
to form always new goals !
Our dream !

Mission
(corporate,
social
purpose)

For whom are
we working ?




© Friedag 2013

What is our unique
contribution for other
people, for our society ?
Who is missing what, if we
would not be there ?
19
Example: business idea
Company producing rear-view mirrors for cars

 The values of this company are:
 innovation
 trust
 respect
 the dream, the challenge, the very long-time interior goal,
the “vision” of this company:
the leading car-manufacturers are our clients

 The unique contribution for our society, the corporate social purpose:
Our “mission”:
we produce highest-tech safety

© Friedag 2013

20
Second step to create a strategy
1. Business-idea
2. Business-model
3. Corporate Policy Orientation (CPO)
4. Concretion

 Balanced Scorecard

© Friedag 2013

21
The business-model is a
plausibility check for the
business-idea

The business-model
What makes the clients tick ?
Are these the clients, whose needs
we intend to manage ?

Kind of client

Do these clients match to us ?

Do we have proper deliverers and
Cooperation-Partners ?

Customer needs

Core competence

Which needs do we really manage
with our offer?
Do we have the right kind of clients ?

Which products / abilities/ technologies can we manage really good ?

Uniqueness

Which customer needs can we
manage with our core competence
better tha anybody else ?
Do we match this kind of client ?

Which sales- and margin potential can we expect with this business-model ?
© Friedag 2013

22
Business-model
 Who is our customer ?
Kind of clients

 How can we find a cost-covering solution for that?
Core competence

 What are the needs of our customer?
Customer need

 How can we be better than the competitors?
Uniqueness

© Friedag 2013

23
Example: business-model
Company producing rear-view mirrors for cars
 Kind of clients:
Developer of the leading car-manufacturers
 Core competence:
we can develop new technologies and we can produce these
innovative items with best quality
 Customer need:
to be with high-tech rear-view mirrors more innovative and safe
than other car manufacturers
 Uniqueness:
secure processes in innovation - and then production

© Friedag 2013

24
Third step to create a strategy
1. Business-idea
2. Business-model
3. Corporate Policy Orientation (CPO)
4. Concretion

 Balanced Scorecard

© Friedag 2013

25
Corporate Policy Orientation (CPO)
Which level we want to
reach until when?

CPO

(Corporate
Policy
Orientation)

To reach this
level, which
main problem
we have to
solve ?

Question Answer
(strategic
challenge)

(strategic
activity)

© Friedag 2013

How do we want
to solve this
main problem ?

26
Example: Corporate Policy Orientation
Company producing rear-view mirrors for cars

 the Corporate Policy Orientation, defined by the owners, the board of
directors:
target-year:

2025

Patent applications:10 p.a.
Sales:
from 750 Mio € to 2.500 Mio €
Profit-margin:
7%

© Friedag 2013

27
Fourth step to create a strategy
1. Business-idea
2. Business-model
3. Corporate Policy Orientation (CPO)
4. Concretion

 Balanced Scorecard

© Friedag 2013

28
Concretion
For doing the first step You should know what will happen in the future –
but not in detail

 Idea: What goals could be

Form an idea

achieved in the years
8 – 15 ?

 Conception: What has to be

Give a conception

prepared for the years 3 – 7 ?

 Connection: What has to be

Connect the BSC with the
corporate planning

defined for the next 2 years ?

© Friedag 2013

29
Concretion
For doing the first step You should know what will happen in the future –
but not in detail

 Idea: What goals could be

Form an idea

achieved in the years
8 – 15 ?

 Conception: What has to be

Give a conception

prepared for the years 3 – 7 ?

 Connection: What has to be

Connect the BSC with the
corporate planning

defined for the next 2 years ?

© Friedag 2013

30
Example: Concretion
The Concretion until 2015 could be:

 Idea: What goals could
be achieved in the years
8 – 15 ?

 Conception: What has
to be prepared for the
years 3 – 7 ?

 Connection: What has
to be defined for the
next 2 years ?

Idea until 2025:
- most new cars are equipped with
our rear-view mirrors
- all innovative companies are
developing together with us
Conception until 2019:
- having development-projects
together with clients
- built up six sigma-oriented
production
Connection until 2015:
- built up capacities for development
- internationalisation of the company
© Friedag 2013

31
Example: Concretion
The Concretion until 2015 could be:

 Idea: What goals could
be achieved in the years
8 – 15 ?

 Conception: What has
to be prepared for the
years 3 – 7 ?

 Connection: What has
to be defined for the
next 2 years ?

Idea until 2025:
- most new cars are equipped with
our rear-view mirrors
- all innovative companies are
developing together with us
Conception until 2019:
- having development-projects
together with clients
- built up six sigma-oriented
production
Connection until 2015:
- built up capacities for development
- internationalisation of the company
© Friedag 2013

32
Example: Concretion
The Concretion until 2015 could be:

 Idea: What goals could
be achieved in the years
8 – 15 ?

 Conception: What has
to be prepared for the
years 3 – 7 ?

 Connection: What has
to be defined for the
next 2 years ?

Idea until 2025:
- most new cars are equipped with
our rear-view mirrors
- all innovative companies are
developing together with us
Conception until 2019:
- having development-projects
together with clients
- built up six sigma-oriented
production
Connection until 2015:
- built up capacities for development
- internationalisation of the company
© Friedag 2013

33
Next: implement your strategy with the BSC
1. Business-idea
2. Business-model
3. Corporate Policy Orientation (CPO)
4. Concretion

 Balanced Scorecard

© Friedag 2013

34
Strategic planning is worthless,
unless there is first a strategic vision.
___________________

John Naisbitt, american author

© Friedag 2013

35
Combine Your Balanced Scorecard
with a strategy
Agenda
01
02
03
04

Introduction
Strategy - the bases of securing the company‟s future
Organising the work with a BSC
Conclusions

© Friedag 2013

36
What is a Balanced Scorecard ?
objective:
What objectives and
tasks do we want to
commit ourselves to?

subjective:
What are we ready to
do and will we take
over the
responsibility?

The Balanced Scorecard is a universal tool to
align the acting of a group of people toward
a joint objective.
© Friedag 2013

37
Implementation steps for a Balanced Scorecard
Guideline = Mission
intention = vision for
the next 1-3 years …

I. Identification of objectives
(Guideline, intention,
leading indicator)

II. Develop strategic
action frame

VII. Organize
learning process

Communication
VI. Arrange the BSC into the
process of leading

III. Complete action frame
with actions (collect ideas)

V. Reporting with the
Balanced Scorecard

IV. Bundle actions into
strategic projects

© Friedag 2013

38
Kaplan/Norton

Translate strategy into action!

It is only through the concrete, daily actions of all the employees in a
company that potentials can be developed.

© Friedag 2013

39
House of the Balanced Scorecard –
to be
what we are doing we startmarketaleader
technological
worldwide innovative supplier
number of jointly developed innovations

objective
Strategic topic
Indicator

Perspectives
Perspectives

Customer retention
Customers
New contracts
dedication
employees
CIP-Groups
Reliability
Partners
Audits
Cost consciousness
fin. & controlling
Cash Flow

development

higher revenue

image

extension of
sales dept.
sale potential

jointly developed innovations
# of projects

Recruitement of
internat. oriented
engineers

# of employments

Objective
Project
Indicator

Objective
Project
Indicator

Objective
Project
Indicator

Objective
Project
Indicator

Objective
Project
Indicator

Leadership-Scorecard
© Friedag 2013

40
Implementation the strategy by BSC-projects
The most important things:

 Don„t look for perfect solutions!
 Delegate responsibilities and competences, demand and support
consequence!

 Organise the things that can be already done.
 The sooner the first success appear, the greater the acceptance of
Balanced Scorecard will be.

© Friedag 2013

41
… and organize active doing
 having objectives only is not enough –
we have to want to do it !

 assign clear responsibilities
 achieve early wins
 develop adjuvant rituals
 train consequent leader behaviour
 pay attention: time is a critical resource
- time cannot be stored
- each process needs sufficient timing
- point in time as important as the period of time

© Friedag 2013

42
Reporting components of the BSC
Leadership-Scorecard

Projectindicators

Indicators of
the BSChouse

Reporting-Scorecard

strategic and
operational
indicators
for internal
control
© Friedag 2013

strategic and
operational
indicators
for external
reporting
43
Reporting - Scorecard
Reporting with the four fields matrix

Countable goals
strategic

operative

Who is responsible for the figures of the reporting scorecard ?

Activities
Problems
Need of decisions
Scorecard based on the„One-Page-only-Princip“
© Friedag 2013

44
Combine Your Balanced Scorecard
with a strategy
Agenda
01
02
03
04

Introduction
Strategy - the bases of securing the company‟s future
Organising the work with a BSC
Conclusions

© Friedag 2013

45
Conclusion
successful with a strategy-based Balanced Scorecard ?

 Your strategy is a basis for Your balanced scorecard
 You have joint and clearly defined operative and strategic objectives –
longterm and for the milestones

 By communication You achieve thinking, responsibility, objectiveorientated action of all of Your employees and partners

 Better transparency creates confidence at internal and external
partners

Strategy is the first task of leaders !

© Friedag 2013

46
Make your dreams
come true Strategy development and -implementation with the

Balanced Scorecard [BSC]

© Friedag 2013

47
Welcome to the
Future!
Strategy development and -implementation with the

Balanced Scorecard [BSC]

© Friedag 2013

48

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$ Bsc strategy english-longversion_1310

  • 2. Titel „I have a dream…“ Martin Luther King, 1963
  • 3. Titel A dream, a vision is the beginning of a strategic process
  • 4. Dr. Herwig R. Friedag Born in 1950, graduate economist independent consultant specialised in:  Implementation of the Balanced Scorecard in companies  Practice-orientated Balanced Scorecard workshops  20 years leader of the public relations board of the ICV  Lecturer at the Humboldt University Berlin and at Donau Universität Krems (Austria) Dr. Herwig R. Friedag Hobbies: moving in nature, volleyball, sailing … and travelling to Croatia © Friedag 2013 Friedag Consult Beskidenstr. 33, D 14129 Berlin Fon +49 30 80 40 40 00 Fax +49 30 80 40 40 01 consult@friedag.com www.friedag.com 4
  • 5. Publications 2003 2004 2001 1999, 2000, 2002 2009 2000, 2002, 2004 2002, 2003, 2005, 2011 Total number of copies > 85.000 in CZ, D, FIN, PL, RUS © Friedag 2013 2005 5
  • 6. Combine Your Balanced Scorecard with a strategy Agenda 01 02 03 04 Introduction Strategy - the bases of securing the company‟s future Organising the work with a BSC Conclusions © Friedag 2013 6
  • 7. We want to realise our dreams, so we have to prepare our future, even though it is not a 100% controllable ! „Whatever will be, will be…“ We can, we have to do something today for our future. Therefore, we should  at least meet the requirements of the future  or better: set standards  or best: try to influence the changes in society © Friedag 2013 7
  • 8. Why could a BSC make sense for your company?  We achieve joint objectives  We translate strategies into action  By communication we achieve thinking, responsibility, objectiveorientated action of our employees and partners  We assure sustainability of our company © Friedag 2013 8
  • 9. Is the BSC sensible for Your company ? 52% of the Germans have secluded with their employer. Responding to the question in a representative study, whether they would presumably be working at their current company next year, they answered: „No way - as soon as I find a job in a different company, I will be leaving the firm!" Source: Financial Times Germany, June 02 2004, page 2 © Friedag 2013 9
  • 10. Requirements to start the process of strategy implementation  Willingness for change  Reduce Blame-Culture – learning to learn from mistakes: “no mistake is the biggest mistake”  Willingness of management to work out and discuss together strategic objectives  A strategy ! © Friedag 2013 10
  • 11. Combine Your Balanced Scorecard with a strategy Agenda 01 02 03 04 Introduction Strategy - the bases of securing the company‟s future Organising the work with a BSC Conclusions © Friedag 2013 12
  • 12. Strategy What is the strategic objective of a company / an organisation?  The basic strategic objective is that of securing the sustainability of a company/organisation.  Sustainability can be achieved only on the condition that all relevant stakeholders can benefit from it. Consequently the objective of a strategy is that of generating a dynamic equilibrium of the benefits which can accepted by all the relevant stakeholders. © Friedag 2013 13
  • 13. What is strategic, what is operational ? to do ? long-term ? to do nothing ? short-term ? Expenditures strategic operational develop Potentials exploit Marketing Possibilities + competencies Orders / Sales Develop capacities Use capacities Quality potential Quality assurance HR competences Employee engagement Investor Relations Safeguarding liquidity Partnership Partner engagement Growth of potentials Growth of money © Friedag 2013 14
  • 14. Kaplan/Norton Balanced Scorecard: translate strategy into action! Only the one who possesses a strategy, can implement it. Therefore: The one who wants a Balanced Scorecard has to start with a strategy! © Friedag 2013 15
  • 15. Seven strategic questions Business-idea Future orientation Business-model 1. Do we know the business-idea of our company ? 2. Is it possible to earn enough money with this business-idea ? Orientation Concretion Reporting 4. Do we have concrete ideas to reach the orientation ? Balanced Scorecard 5. With which strategic projects do we want to start now ? Medium term planning Business processes 3. What kind of corporate policy orientation follows our business-idea ? 6. How do we connect these strategic projects into our business plans ? Budget / Liquidity © Friedag 2013 7. How can we finance the planned strategic projects ? 16
  • 16. Strategic dimensions and how we proceed Strategic concept “timeless“ Business-idea Business-model 3 – 10 years Strategy development Concretion Corporate Policy Orientation 1 – 3 years Strategic House Reporting-Scorecard balance of goals Balanced Scorecard Strategic Projects Strategy implementation Intermediate-term planning running business current year (Integration into the management cycle) middle term planning / Budget / Profit / Liquidity © Friedag 2013 Use of strategic potentials 17
  • 17. Four steps to create a strategy 1. Business-idea 2. Business-model 3. Corporate Policy Orientation (CPO) 4. Concretion  Balanced Scorecard © Friedag 2013 18
  • 18. Business-Idea The reason to be proud values (Identification) What is our goal ?    Vision (basic goal) What could for us be always a challenge ? No target, but a motivation for us, to form always new goals ! Our dream ! Mission (corporate, social purpose) For whom are we working ?   © Friedag 2013 What is our unique contribution for other people, for our society ? Who is missing what, if we would not be there ? 19
  • 19. Example: business idea Company producing rear-view mirrors for cars  The values of this company are:  innovation  trust  respect  the dream, the challenge, the very long-time interior goal, the “vision” of this company: the leading car-manufacturers are our clients  The unique contribution for our society, the corporate social purpose: Our “mission”: we produce highest-tech safety © Friedag 2013 20
  • 20. Second step to create a strategy 1. Business-idea 2. Business-model 3. Corporate Policy Orientation (CPO) 4. Concretion  Balanced Scorecard © Friedag 2013 21
  • 21. The business-model is a plausibility check for the business-idea The business-model What makes the clients tick ? Are these the clients, whose needs we intend to manage ? Kind of client Do these clients match to us ? Do we have proper deliverers and Cooperation-Partners ? Customer needs Core competence Which needs do we really manage with our offer? Do we have the right kind of clients ? Which products / abilities/ technologies can we manage really good ? Uniqueness Which customer needs can we manage with our core competence better tha anybody else ? Do we match this kind of client ? Which sales- and margin potential can we expect with this business-model ? © Friedag 2013 22
  • 22. Business-model  Who is our customer ? Kind of clients  How can we find a cost-covering solution for that? Core competence  What are the needs of our customer? Customer need  How can we be better than the competitors? Uniqueness © Friedag 2013 23
  • 23. Example: business-model Company producing rear-view mirrors for cars  Kind of clients: Developer of the leading car-manufacturers  Core competence: we can develop new technologies and we can produce these innovative items with best quality  Customer need: to be with high-tech rear-view mirrors more innovative and safe than other car manufacturers  Uniqueness: secure processes in innovation - and then production © Friedag 2013 24
  • 24. Third step to create a strategy 1. Business-idea 2. Business-model 3. Corporate Policy Orientation (CPO) 4. Concretion  Balanced Scorecard © Friedag 2013 25
  • 25. Corporate Policy Orientation (CPO) Which level we want to reach until when? CPO (Corporate Policy Orientation) To reach this level, which main problem we have to solve ? Question Answer (strategic challenge) (strategic activity) © Friedag 2013 How do we want to solve this main problem ? 26
  • 26. Example: Corporate Policy Orientation Company producing rear-view mirrors for cars  the Corporate Policy Orientation, defined by the owners, the board of directors: target-year: 2025 Patent applications:10 p.a. Sales: from 750 Mio € to 2.500 Mio € Profit-margin: 7% © Friedag 2013 27
  • 27. Fourth step to create a strategy 1. Business-idea 2. Business-model 3. Corporate Policy Orientation (CPO) 4. Concretion  Balanced Scorecard © Friedag 2013 28
  • 28. Concretion For doing the first step You should know what will happen in the future – but not in detail  Idea: What goals could be Form an idea achieved in the years 8 – 15 ?  Conception: What has to be Give a conception prepared for the years 3 – 7 ?  Connection: What has to be Connect the BSC with the corporate planning defined for the next 2 years ? © Friedag 2013 29
  • 29. Concretion For doing the first step You should know what will happen in the future – but not in detail  Idea: What goals could be Form an idea achieved in the years 8 – 15 ?  Conception: What has to be Give a conception prepared for the years 3 – 7 ?  Connection: What has to be Connect the BSC with the corporate planning defined for the next 2 years ? © Friedag 2013 30
  • 30. Example: Concretion The Concretion until 2015 could be:  Idea: What goals could be achieved in the years 8 – 15 ?  Conception: What has to be prepared for the years 3 – 7 ?  Connection: What has to be defined for the next 2 years ? Idea until 2025: - most new cars are equipped with our rear-view mirrors - all innovative companies are developing together with us Conception until 2019: - having development-projects together with clients - built up six sigma-oriented production Connection until 2015: - built up capacities for development - internationalisation of the company © Friedag 2013 31
  • 31. Example: Concretion The Concretion until 2015 could be:  Idea: What goals could be achieved in the years 8 – 15 ?  Conception: What has to be prepared for the years 3 – 7 ?  Connection: What has to be defined for the next 2 years ? Idea until 2025: - most new cars are equipped with our rear-view mirrors - all innovative companies are developing together with us Conception until 2019: - having development-projects together with clients - built up six sigma-oriented production Connection until 2015: - built up capacities for development - internationalisation of the company © Friedag 2013 32
  • 32. Example: Concretion The Concretion until 2015 could be:  Idea: What goals could be achieved in the years 8 – 15 ?  Conception: What has to be prepared for the years 3 – 7 ?  Connection: What has to be defined for the next 2 years ? Idea until 2025: - most new cars are equipped with our rear-view mirrors - all innovative companies are developing together with us Conception until 2019: - having development-projects together with clients - built up six sigma-oriented production Connection until 2015: - built up capacities for development - internationalisation of the company © Friedag 2013 33
  • 33. Next: implement your strategy with the BSC 1. Business-idea 2. Business-model 3. Corporate Policy Orientation (CPO) 4. Concretion  Balanced Scorecard © Friedag 2013 34
  • 34. Strategic planning is worthless, unless there is first a strategic vision. ___________________ John Naisbitt, american author © Friedag 2013 35
  • 35. Combine Your Balanced Scorecard with a strategy Agenda 01 02 03 04 Introduction Strategy - the bases of securing the company‟s future Organising the work with a BSC Conclusions © Friedag 2013 36
  • 36. What is a Balanced Scorecard ? objective: What objectives and tasks do we want to commit ourselves to? subjective: What are we ready to do and will we take over the responsibility? The Balanced Scorecard is a universal tool to align the acting of a group of people toward a joint objective. © Friedag 2013 37
  • 37. Implementation steps for a Balanced Scorecard Guideline = Mission intention = vision for the next 1-3 years … I. Identification of objectives (Guideline, intention, leading indicator) II. Develop strategic action frame VII. Organize learning process Communication VI. Arrange the BSC into the process of leading III. Complete action frame with actions (collect ideas) V. Reporting with the Balanced Scorecard IV. Bundle actions into strategic projects © Friedag 2013 38
  • 38. Kaplan/Norton Translate strategy into action! It is only through the concrete, daily actions of all the employees in a company that potentials can be developed. © Friedag 2013 39
  • 39. House of the Balanced Scorecard – to be what we are doing we startmarketaleader technological worldwide innovative supplier number of jointly developed innovations objective Strategic topic Indicator Perspectives Perspectives Customer retention Customers New contracts dedication employees CIP-Groups Reliability Partners Audits Cost consciousness fin. & controlling Cash Flow development higher revenue image extension of sales dept. sale potential jointly developed innovations # of projects Recruitement of internat. oriented engineers # of employments Objective Project Indicator Objective Project Indicator Objective Project Indicator Objective Project Indicator Objective Project Indicator Leadership-Scorecard © Friedag 2013 40
  • 40. Implementation the strategy by BSC-projects The most important things:  Don„t look for perfect solutions!  Delegate responsibilities and competences, demand and support consequence!  Organise the things that can be already done.  The sooner the first success appear, the greater the acceptance of Balanced Scorecard will be. © Friedag 2013 41
  • 41. … and organize active doing  having objectives only is not enough – we have to want to do it !  assign clear responsibilities  achieve early wins  develop adjuvant rituals  train consequent leader behaviour  pay attention: time is a critical resource - time cannot be stored - each process needs sufficient timing - point in time as important as the period of time © Friedag 2013 42
  • 42. Reporting components of the BSC Leadership-Scorecard Projectindicators Indicators of the BSChouse Reporting-Scorecard strategic and operational indicators for internal control © Friedag 2013 strategic and operational indicators for external reporting 43
  • 43. Reporting - Scorecard Reporting with the four fields matrix Countable goals strategic operative Who is responsible for the figures of the reporting scorecard ? Activities Problems Need of decisions Scorecard based on the„One-Page-only-Princip“ © Friedag 2013 44
  • 44. Combine Your Balanced Scorecard with a strategy Agenda 01 02 03 04 Introduction Strategy - the bases of securing the company‟s future Organising the work with a BSC Conclusions © Friedag 2013 45
  • 45. Conclusion successful with a strategy-based Balanced Scorecard ?  Your strategy is a basis for Your balanced scorecard  You have joint and clearly defined operative and strategic objectives – longterm and for the milestones  By communication You achieve thinking, responsibility, objectiveorientated action of all of Your employees and partners  Better transparency creates confidence at internal and external partners Strategy is the first task of leaders ! © Friedag 2013 46
  • 46. Make your dreams come true Strategy development and -implementation with the Balanced Scorecard [BSC] © Friedag 2013 47
  • 47. Welcome to the Future! Strategy development and -implementation with the Balanced Scorecard [BSC] © Friedag 2013 48