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Balance Score Card

Last post September 1, 2010 08:03 AM by SKHota. 1 repiles.

April 7, 2008 05:23 AM 1
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Join Date: January 5, 2008
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Post Date: September 1, 2010
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Balance Score Card

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

July 22, 2009 07:272
Jyoti Rani
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Post Date: July 22, 2009
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Re: Balance Score Card

Hi Vinayak,

I have one in HR, but what i think and feel that KRA's and KPI have to be more innovative and needs to be fine tuned as per the activities/work break down structure of specific work of the department.

I will download the same in Knowledge centre of this forum, you please check out the attachment there, file name is HR_Dept_KRA.

Thanks Sunil for sharing the BSC, in a very simple explanation.

Regards,
Jyoti
October 28, 2009 08:573
sadashiv_borgaonkar11
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Post Date: October 28, 2009
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Re: Balance Score Card

There are many articles & resources available on google. The basics have to be done from the KRA & KPIs in xl.

 

Objectives are to be set in accordance to the Vision & Mission of the company.

December 11, 2009 06:064
carljungmandala
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Post Date: December 11, 2009
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Re: Balance Score Card

Hi forummates,

I attended seminar on the topic of People Manager's Scorecard "Measure First, Manage Later'

This is very useful for us.

Like HR Scorecard- This will measure the HR Performance explicitly linked to business goals.

I want to share the Support Function Formula:

 

HR Staff= No. of HR Stakk/Total Staff in the Organization x 100%

 

BR, carlo Rosales

Philippines

December 11, 2009 07:365
carljungmandala
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Join Date: January 5, 2008
Rank: Beginner
Post Date: December 11, 2009
Points: 20
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Re: Balance Score Card

Hi HR Gurus,

I would like to share my formula on absenteeism rate as part of HR Scorecard

1. No of working days lost in specific period/Total no. of staff working days available in the period

 

 

BR, Carlo

Philippines

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