Dear All,
I am working as an HR Assistant in one of the software companies in Pune. I have been assigned the task of gaining knowledge about the Balanced Scorecard and ways to implement it in our organization. Although I have gathered basic information about this topic from the internet, I am not satisfied with it.
I have the following questions:
1) How is it implemented in a company like ours?
2) What dimensions do I need to consider before conducting such a study?
3) What data do I need to collect for the study?
4) What are the steps involved, etc.?
It would be very helpful if I could get an eBook on this topic. Can anyone please assist me with this?
Thank you,
Anjali
From United States, Miami
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I am working as an HR Assistant in one of the software companies in Pune. I have been assigned the task of gaining knowledge about the Balanced Scorecard and ways to implement it in our organization. Although I have gathered basic information about this topic from the internet, I am not satisfied with it.
I have the following questions:
1) How is it implemented in a company like ours?
2) What dimensions do I need to consider before conducting such a study?
3) What data do I need to collect for the study?
4) What are the steps involved, etc.?
It would be very helpful if I could get an eBook on this topic. Can anyone please assist me with this?
Thank you,
Anjali
From United States, Miami
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Hi Anjali,
I have an ebook on BSC. I hope this will help us to understand the entire concept. If you want any additional information about BSC format, please let me know. I am also from Pune working with Mahindra & Mahindra. If possible, please be in touch via email at PHUKE.SANDEEP@mahindra.com.
Thanks & Regards,
Sandeep
From India, Pune
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27I have an ebook on BSC. I hope this will help us to understand the entire concept. If you want any additional information about BSC format, please let me know. I am also from Pune working with Mahindra & Mahindra. If possible, please be in touch via email at PHUKE.SANDEEP@mahindra.com.
Thanks & Regards,
Sandeep
From India, Pune
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Hi Anjali,
We recently implemented the BSC in our unit. It was driven by a cross-functional team (HR, Quality & Operations). The brief details were:
a) Defining / Identifying the mission, vision, values, and goals of the organization.
b) Defining a strategy map on what the strategic objectives of the organization are that they want to focus on while they plan to achieve their goals.
c) Without the above 2, a BSC can really be misguided. So the next few steps are on converting the objectives into a BSC.
c.1) Define measures that will tell us that the strategic objectives have been met. Ensure measures are lead (checking deployment of initiatives that will help achieve the objectives) and lag (the degree of success of achieving the objective).
c.2) Setting targets for the measures along with unit & frequency.
d) Actually identify the initiatives and define those in detail.
e) If this is done by CFTs, initiatives across the organization are defined, and fundings happen well.
We also went for a BSC training from QAI. Please go to their website and see if you can pull some case studies. BSC books from Kaplan are by far the best. Please read Alignment, Strategy Maps, and the first book. Those can be like bibles during (and before) the process.
BSC is not easy to do. It's even tougher to sustain focus to review it repeatedly. The success is really only seen after a year of implementing one. If all initiatives were met and measured as planned and the lag measures for the objectives have met their targets - you actually have achieved what you set out to do.
We took quite a lot of time to complete steps a to d (simply because key leadership people need to give time for this). But once done, we at least have a leadership team that believes in common goals and is focused on growth.
All the best!
Regards,
Shavee
From India
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We recently implemented the BSC in our unit. It was driven by a cross-functional team (HR, Quality & Operations). The brief details were:
a) Defining / Identifying the mission, vision, values, and goals of the organization.
b) Defining a strategy map on what the strategic objectives of the organization are that they want to focus on while they plan to achieve their goals.
c) Without the above 2, a BSC can really be misguided. So the next few steps are on converting the objectives into a BSC.
c.1) Define measures that will tell us that the strategic objectives have been met. Ensure measures are lead (checking deployment of initiatives that will help achieve the objectives) and lag (the degree of success of achieving the objective).
c.2) Setting targets for the measures along with unit & frequency.
d) Actually identify the initiatives and define those in detail.
e) If this is done by CFTs, initiatives across the organization are defined, and fundings happen well.
We also went for a BSC training from QAI. Please go to their website and see if you can pull some case studies. BSC books from Kaplan are by far the best. Please read Alignment, Strategy Maps, and the first book. Those can be like bibles during (and before) the process.
BSC is not easy to do. It's even tougher to sustain focus to review it repeatedly. The success is really only seen after a year of implementing one. If all initiatives were met and measured as planned and the lag measures for the objectives have met their targets - you actually have achieved what you set out to do.
We took quite a lot of time to complete steps a to d (simply because key leadership people need to give time for this). But once done, we at least have a leadership team that believes in common goals and is focused on growth.
All the best!
Regards,
Shavee
From India
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Hey Shavee,
That's really great. Insights given by you are very useful. Can you please also tell me the site address or any contact number for us to contact this Institute? If we get training before the implementation, it will be very useful for us.
Thank you,
Anjali
From United States, Miami
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That's really great. Insights given by you are very useful. Can you please also tell me the site address or any contact number for us to contact this Institute? If we get training before the implementation, it will be very useful for us.
Thank you,
Anjali
From United States, Miami
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Dear Anjali,
TATA's have been using this extensively. They have a setup in Pune called Tata Quality Management Services (TQMS) and it is located on Mangaldas Road. Many senior executives who are experts in this field have now retired and started their own consultancy. One such person is Mr. Ramesh Saraph, who stays in Pune. He and his group are a franchise to Dr. Kaplan, who is the Balanced Scorecard guru and one of the best.
Unfortunately, I don't have his contact details. You may ask TQMS for his contact information. In case you cannot trace him, let me know, and I will help you.
Nandish
From United Arab Emirates, Dubai
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TATA's have been using this extensively. They have a setup in Pune called Tata Quality Management Services (TQMS) and it is located on Mangaldas Road. Many senior executives who are experts in this field have now retired and started their own consultancy. One such person is Mr. Ramesh Saraph, who stays in Pune. He and his group are a franchise to Dr. Kaplan, who is the Balanced Scorecard guru and one of the best.
Unfortunately, I don't have his contact details. You may ask TQMS for his contact information. In case you cannot trace him, let me know, and I will help you.
Nandish
From United Arab Emirates, Dubai
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Balanced Scorecard.zip
Balanced Scorecard.pdf