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Balance Score Card
Human Resources » HR Metrics & Measurement


Chrm Message From: sunil madan Total Posts: 21 Join Date: 05/01/2008
Rank: Executive Post Date: 07/04/2008 05:23:45 Points: 105 Location: United States

Balance score card is tool which offers companies the ability to map and monitor strategy across four critical perspectives-financial, customers, internal and learning and growth.

The score cared helps executives lead as well as manage .it helps them communicate a sense of vision and mission and gets their people aligned to the mission .The scorecard provides a framework to describe your strategy .you cant build a good scorecard unless you have a strategy. Otherwise you end up only with a set of unrelated key performance indicators.

The process of developing a BSC begins by drawing up a strategy map covering around 20-25 critical objectives, spanning the financial, cutomer,internal and learning and growth layers that are critical in making the strategy work .the score card thus identifies, records and keeps track of the linkages between the processes in an organization and establishes an ends and means relationship.

Example . when an organization realizes that its profit margin are down because of tough competition, it may decide to launch a new product because of tough competition ,it may decide to launch a new product which promises a better margin .Marketing gets the job of developing ,test marketing and finally launching the product in given timeframe .

Operations is required to develop the processes to produce the desired quantity of the product and hr helps develops the required skills sets by training and hiring talent from outside .The strategy map not only identifies these linkages but also works out things to be measured .it sets up quantitive targets which are recorded ,reported and reviewed periodically .

Anyone wants to take this discussion ahead ?

Sunil Madan

Chrm Message From: donna Total Posts: 43 Join Date: 05/01/2008  
Rank: Executive Post Date: 07/04/2008 05:26:16 Points: 215 Location: United States

Thanks a lot for the informative writeup on Balance score cards. Is there any software that one can use to cascade the process from mission critical objectives to the detailed measurable task level projects please?

best regards

donna

Chrm Message From: ngodavinet Total Posts: 7 Join Date: 05/01/2008  
Rank: Beginner Post Date: 05/01/2009 02:55:17 Points: 35 Location: United States

Tks for your useful post.

Can you give me some example?

tks in adv

Chrm Message From: viju_009 Total Posts: 1 Join Date: 05/01/2008  
Rank: Beginner Post Date: 17/02/2009 00:38:02 Points: 5 Location: United States
There are plenty of free application on BSC, it can be googled. My advice is to start of with basic excel and MS acces...
Chrm Message From: vinayakprasad4 Total Posts: 3 Join Date: 05/01/2008  
Rank: Beginner Post Date: 21/07/2009 10:06:57 Points: 15 Location: United States

Hi Sunil,

Thanks for the useful insight on Balanced Scorecard. However, It would be great if you could throw some light on department wise specific KPIs or KRAs. I think that some departments like administration, Human Resource etc would have more of qualitative KRIs / KRAs. If this is the case, how well would it be measured.

Thanks.

Vinayak.


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