Balalnced Score Card

8/12/2019 Balalnced Score Card

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Balanced Scorecard

VKR


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Balanced Scorecard

BSC is a strategic management support system

for measuring vision and strategy against

business and operating unit level

performance.

Suggested by Dr. Robert S Kaplan and Dr.

David P Norton of Harvard Business School


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Perspectives in BSC

Financial perspective: Strategy for growth, profitabilityand risk when viewed from shareholders/ownersperspective.

The external relations perspective is related to strategy

for creating value and differentiation through theperspective of the customer.

The internal business process perspective reflectsstrategic priorities among processes according to theircontribution to customer and shareholder satisfaction

The learning and growth perspective focusses onorganizations priorities for fostering change, innovationand growth.


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Strategy map


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Project Arrow(Indian Postal Service)

Largest network in the world with 1,50,000

post offices

Over and above 5 lakh employees

Unsatisfactory status

Project arrow to transform Indian Postal

Service Jyothiraditya Scindia wanted to transform

India posts in to a world class organisation


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Vision- Indian postal Department to be

Window to the world for aam aadmi.

Services with global benchmark at the lowest

cost

Strategy: Get the core right

Modernise the look and feel


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BSC to India Posts

Financial perspective

IPS should stress on cash flows, it should opt for

revenue growth it can do the same by reaching

new customers and markets, changing the

product and service mix. And reprising products

and services.

Measures to customise the services to the

targeted customers


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Internal process perspective

The measures should be selected in such a

manner as to maximise customer satisfaction

and achieve financial objectives.

Learning and Growth perspective

Infrastructure required to build to facilitate longterm growth


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Financial perspective

Objectives Measures Initiatives

Broaden revenue mix Sales growth Tie-ups with other

banks leveraging its

wide reach

Leveraging IT to offer

wider and innovativeservices

Focus on retaining market

share on the core business

Market share in core Increasing the quality of

mail delivery service

Lower operating costs EBIT, ROCE Multitasking by post

men Postmen to market the

products

Increase the personnel

productivity

Revenue per employee


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Customer PerspectiveObjectives Measures Initiatives

Improve speed and

reliability of mail delivery

service

No of undelivered mails

per day

Provide tracking services through

internet

Launch of pickup mail services

from the premises of the

customer

Increase service levels forother business

Time to settlement Increase cash withdrawal limit toRs. 5,000

Reduce time to settle deceased

claims

Enhance customer

experience at the post

offices

Customer satisfaction

surveys

Reduction in customer

complaints

Modernised look and feel at the

post office

Standardised ambience and

theme across the country

Suitable training provided to

employees for better customer

handling

Increase the overallcustomer satisfaction

Post masters compliance todaily check list


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Internal Processes PerspectiveObjectives Measures Initiatives

Improve productivity get

the core right

Process cycle time for mails Revision mail arrangements

Streamlining pre delivery process

Increased usage of IT to

increase operational

efficiency

Expenses Ratio Digizaliation of manual records

Revisiting savings bank

operations process

System backup and dailymonitoring of network

connectivity and error reporting

Introduce suitable

feedback

Employee surveys Involving lower level employees

by greater interaction with top

management

Revamp performance

appraisal

Profit per employee Supervise and monitor postmen

performance

Codify and tract postmasters

compliance to the daily checklist

prescribed


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Learning and Growth PerspectiveObjectives Measures Initiatives

Upgradation of staffcompetencies related to

customer handling

Training scores Suitable training provided to tothe employees for better

customer handling

Upgradation of staff

related to IT infrastructure

% increase in the use of

new products

Training on the use of new

equipment's and computers


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Quality services to the Citizens.

Project Arrow was initialized in May 2008. The

objective of this Project is to make post offices afriendly place for any citizen and improve thequality of services. The Project was taken up inthree phases: Phase I Pilot 50 post offices.

Phase II 450 offices

Phase III 500 offices.


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Project focus

Modernize the look and feel-Get the core

right

Branding Mails

Technology Savings Bank

Human resources Remittances Infrastructure Office Service

level.


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Documents

Balalnced Score Card