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ReallySimple
BalancedScorecard
Textbook examples ofBalanced Scorecard
are complex
Manager’s Toolbox example of
Balanced Scorecardis simple
1 A4 to prepare
1 slideto communicate
1 A4to execute
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¥€$
:-)
Learningperspective
Processperspective
Customerperspective
Financialperspective
Acquiring knowledge
Summarizing knowledge
Customer satisfaction
Profitable growth
Textbooks say“Ultimately all causal
paths lead to financial
measures.”
Ultimately all causal paths lead to financial measures
Financial perspective
Customer perspective
Process perspective
Learning perspective
That’s an uphill battle!
Financial perspective
Customer perspective
Process perspective
Learning perspective
That’s an uphill battle!
Financial perspective
Customer perspective
Process perspective
Learning perspective
Been there,done that!
They stumbled on learning
Financial perspective
Customer perspective
Process perspective
Learning perspective
With jeans, sneakers & ¥100 raincoatsIn really, really, really bad hail storm1 hour to nearest shelter
The fundamental questions
Financial perspective
Customer perspective
Process perspective
Learning perspective“To achieve our vision, how will we sustain our ability to change and improve?”
“To satisfy our shareholders and customers, what business processes must we excel at?”
“To succeed financially, how should we appear to our shareholders?”
“To achieve our vision, how should we appear to our customers?”
To achieve our vision, how will we sustain our ability to change and improve?
Manager’s Toolboxturns the perspectivesupside down
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:-)
Learningperspective
Processperspective
Customerperspective
Financialperspective
How will we sustain our ability to change and improve?
What business processes must we excel at?
How should we appear to our customers?
How should we appear to our shareholders?
Ultimately all causal paths
start from learning perspective
Learning perspectiveLearning perspective
Process perspectiveProcess perspective
Customer perspectiveCustomer perspective
Financial perspectiveFinancial perspective
Ultimately all causal pathsstart from learning perspective
Coming downhill is fun!
Learning perspectiveLearning perspective
Process perspectiveProcess perspective
Customer perspectiveCustomer perspective
Financial perspectiveFinancial perspective
Customer perspective
Actually it is a child's play!My son
and my daughterready to showwhat they’ve
learned.
Learning perspectiveLearning perspective
Process perspectiveProcess perspective
Customer perspectiveCustomer perspective
Financial perspectiveFinancial perspective
And business is down there“Let’s take a break
down there!” Learning perspectiveLearning perspective
Process perspectiveProcess perspective
Customer perspectiveCustomer perspective
Financial perspectiveFinancial perspective
Textbook says Balanced Scorecard
is a management system
And that’s true!
Balanced Scorecard is a
ManagementSystem
Not just a measurement system
You do not just measure your heart beat
You use the heart rate monitor
to manage your exercise
In order to
Last longer
Feel good
Improve fitness
Control weight…
… and to improve learning
Rule #1:
Exercise boostsbrain power
Dr. John MedinaBrain Rules
Textbooks say“Strategy map helps
to communicate strategy.”
?
Does this really help to communicate
their strategy to you?
The Chip brothers call it Curse of Knowledge
Trying to tell you everything about every possible strategy, with perfect accuracy, in one page.
The Chip brothers call it Curse of Knowledge
Trying to tell you everything about every possible strategy, with perfect accuracy, in one page.
The Chip brothers call it Curse of Knowledge
Is not
made to stick
Make it simple, find the core of the idea, strip the idea down to its most critical essence.
You need to
Make it simple, find the core of the idea, strip the idea down to its most critical essence.
You need to
fiveothersticky
elements+ =
First we need to go back to the basics
Mission statement
tells you what the company is now
“We’re on a mission from God!”
“We’re on a mission from God!”
Driven by their mission
“The Catholic orphanage they grew up in needs to pay $5,000 taxes in 11 days, or else it will be closed.”
“We’re on a mission from God!”
They’ll never get caught
bythe police,
ex-girlfriend,Country Bob,
Good Old Boys,Illinois Nazis,more police,
National Guard,SWAT teams.
Driven by their mission
“The Catholic orphanage they grew up in needs to pay $5,000 taxes in 11 days, or else it will be closed.”
Vision statement
outlines what a company wants to be
“Imagine all the people living life in peace!”
If you imagine,can you hear it?
Well communicated Vision
Strategy
is a long term plan of action designed to achieve a particular goal, most often "winning"
A map is handy to communicate
(=Strategy map)
how you plan to get(=Strategy)
from where you are(=Mission)
to where you want to be(=Vision)
Now, let’s make the Strategy map
for Manager’s Toolbox
1) Take an A4 paper
2) Draw a table
3) Fill in the key words
4) Fill in the Mission
Life-long learning
5) Fill in the Vision
Improved management and leadership skills
6) Fill in the Strategy
To internalize and summarize the knowledge I need during my management career.
7) Draw the Strategy Map
Does this communicatemy strategy to you?
That was just the beginning…
Balanced Scorecard is amanagement tool
And should be used in management meetings
8) Measures are checked
Oops, the measures…
Let’s take just one example,
but a typically difficult one
Customer satisfaction
I am the only customer to
Manager’s Toolbox and I will be satisfied if
People visit my blogand leave comments
People visit my blogand leave comments
here
People visit my blogand leave comments
view my presentations and download them
or
People visit my blogand leave comments
view my presentations and download them
or
here
People visit my blogand leave comments
view my presentations and download them
or
here
Where were we?
Balanced Scorecardis used in
management meetings
8) Measures are checked
9) Achievement is checked
10) Trend is followed
And last but not least
11) Actions are agreed
8) And again in next meeting
That is Manager’s Toolbox’s
ReallySimple
BalancedScorecard
By Samurai
1 A4 to prepare
1 slide to communicate
1 A4 to execute
But you need
100% Management commitmentto build and use amanagement system