• What must Leaders do?
• Cybercrime survey
• The balanced scorecard - its simple really!
• 7 Steps for Marketeers to survive in the current climate
• Great managers - the key to employee Retention
• Everything Communicates - 7 Steps for Great internal communication
• PITOC Overview
• Why do we need professional change managers and leaders?
• Seven signs that your Company is struggling to implement change
• Why do organisations need to transform and change?
• Benefits Management - 'A Strategic Business Skill for all Seasons'.
• The challenge of creating positive working environments
• A summary of Professor John Kotters 8 step change process
• Leadership challenges in the Public Service
• Can staff engagement really pay back to bottom line business performance?
• Are any of these bad habits holding you back?

The balanced scorecard - its simple really!

The Balanced Scorecard is a tool that a business can use to identify improvement areas to achieve its goals. It is usually used to track progress towards strategic goals but can be equally effective in times of crisis to build an action plan to aid recovery.

There are many books on the subject and consultants who will charge extremely large sums to design and implement a scorecard for your company. Yes it takes time to implement because people need to be involved in its development but it needn’t be expensive. The process needs to be driven within the organization with a degree of external support to offer advice and guide progress. So what is a balanced scorecard?

There are 5 areas of the Balanced Scorecard which are usually broken down into a number of objectives – typically 4 or 5 for each area. Each objective will have key performance indicators (KPI’s) and a set of initiatives. The 5 areas are:

• Financial Performance
• Customers & Markets
• Innovation
• Quality
• People

The scorecard is then used to improve strategic and/or crisis management. The scorecard enables organizations to measure performance more effectively and efficiently.

So where do you start. Firstly, the organization needs to be really clear about what it is trying to achieve. What its short and long term goals are. Here are some typical next steps:-

• Develop clear objectives for each of the 5 areas
• Set performance measures and benchmarks
• Prioritise initiatives that have the most impact on the KPI’s
• Develop an internal communications framework to engage staff
• Design reporting template and start using it.

To support the Balanced Scorecard a strategy to engage the workforce to maximise output needs to be implemented. Appoint dedicated resource to drive the cultural change required and find a way of measuring whether the change and communication activities are working.
The implementation of a Balanced Scorecard will be less likely to succeed if not launched in conjunction with a programme of communications to ensure staff are engaged towards the company goals.
So in summary here are our top 7 tips for success:-
• You must have a clear strategy and business goals
• It takes time to implement
• Ensure that the board are engaged
• Keep it simple
• Develop a Company scorecard first before individual operational areas
• Include a strategy for people engagement
• Always ask for help if you need it

 

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Ascot Barclay have created a comprehensive and innovative blend of Professional Services that encompasses all three aspects of the Ascot Barclay Change Model: PEOPLE, PROCESS and TECHNOLOGY: resourcing change programmes to providing comprehensive training services .

We can customise our services to meet all business needs. For a free no-obligation telephone call relating to any of Asc ot Barclay services simply Request a Call back . We will get back to you within one business day.