Hi All,
I seek help from you with regard to "Balance score card:
I ahve gone through several posts in citehr about this .But still I am unable to find a good template for "BSC"..
1.I am looking for a template which has parameters mentioed"
2.I would appreciate help from people who have implemented in their company.
3.I am looking for "method to implement the same".
Hope some of you would help me in this regard.
Thanks,
Smita
From India, Bangalore
6I seek help from you with regard to "Balance score card:
I ahve gone through several posts in citehr about this .But still I am unable to find a good template for "BSC"..
1.I am looking for a template which has parameters mentioed"
2.I would appreciate help from people who have implemented in their company.
3.I am looking for "method to implement the same".
Hope some of you would help me in this regard.
Thanks,
Smita
From India, Bangalore
Dear smita & Ramya,
Balanced Scorecard, as we all know, is a tool to measure performance. The measurement is carried out on the following four parameters:-
1) Financial
2) Customer
3) Process
4) Capability
The scorecard is timebound with mid-yr & annual review.
I work in the financial services sector & my company is in the process of implementing the same.
The corporate startegy is at the centre from which the departmental & individual targets flow. Eg., if in the corporate scorecard, one of the objectives is to have a mentoring programme in place for succession planning then the said objective will be a part of the departmental scorecard for HR & finally trickle down to that of the person actually responsible to accomplish the said objective.
since to accomplish certain objectives, one has to be interdependent, it is important to capture such interdependencies in the form of primary, secondary or tertiary owner of the scorecard.
and most important, it is important to have a committed top management to ensure the implementation of this tool is successful since it requires sufficient time & resources of the top executives.
hope I could be of some help.
regards,
- Archana
From India, Mumbai
Balanced Scorecard, as we all know, is a tool to measure performance. The measurement is carried out on the following four parameters:-
1) Financial
2) Customer
3) Process
4) Capability
The scorecard is timebound with mid-yr & annual review.
I work in the financial services sector & my company is in the process of implementing the same.
The corporate startegy is at the centre from which the departmental & individual targets flow. Eg., if in the corporate scorecard, one of the objectives is to have a mentoring programme in place for succession planning then the said objective will be a part of the departmental scorecard for HR & finally trickle down to that of the person actually responsible to accomplish the said objective.
since to accomplish certain objectives, one has to be interdependent, it is important to capture such interdependencies in the form of primary, secondary or tertiary owner of the scorecard.
and most important, it is important to have a committed top management to ensure the implementation of this tool is successful since it requires sufficient time & resources of the top executives.
hope I could be of some help.
regards,
- Archana
From India, Mumbai
Hi Archana
Thanks a lot for the information provided.I did understand that it is a tool for measuring performance but I am still not sure about
1.Parameters to be considered for
1) Financial
2) Customer
3) Process
4) Capability
2.I am in search of a template which can throw some light on the implementation..
Anways ARCHANA thanks for the inputs...I would appreciate if you could help me with some more inputs
Thanks
Smitha
From India, Bangalore
Thanks a lot for the information provided.I did understand that it is a tool for measuring performance but I am still not sure about
1.Parameters to be considered for
1) Financial
2) Customer
3) Process
4) Capability
2.I am in search of a template which can throw some light on the implementation..
Anways ARCHANA thanks for the inputs...I would appreciate if you could help me with some more inputs
Thanks
Smitha
From India, Bangalore
Hi,
Balanced Score Card is one of latest HR initiative helping the management to achieve the organisational objective through bottom level people.
In this strategy Management has to priorities the Onganisational goals into the following clusters:
1. Financial
2. Process
3. Customer
4. Learning
The above 4 block's goals to be carried to respective department HOD and concerned department team members have to derive their goals from the HOD.
Finally each and every individual goals to be linked with orgnisational goals.
At the statring of the financial year organisational goals to be fixed and linked with departmenal goals in goal setting method. While goal setting ie., preparation of goal sheet, we have to frame out when, why, who, where, how to accomplish the particular goal.
Review: The above goals sheet should reviewed every quarter to find out the status and if any difficulty in implementation to review / reschedule the targets.
At the end of the year concerned HOD will evaluate their subordinates achievements by rating.
This can be linked with our pefromance evaluation and reward system to motivate the human capital.
Thanks n Regards
N. Ramakrishna Rao
From India, Madras
Balanced Score Card is one of latest HR initiative helping the management to achieve the organisational objective through bottom level people.
In this strategy Management has to priorities the Onganisational goals into the following clusters:
1. Financial
2. Process
3. Customer
4. Learning
The above 4 block's goals to be carried to respective department HOD and concerned department team members have to derive their goals from the HOD.
Finally each and every individual goals to be linked with orgnisational goals.
At the statring of the financial year organisational goals to be fixed and linked with departmenal goals in goal setting method. While goal setting ie., preparation of goal sheet, we have to frame out when, why, who, where, how to accomplish the particular goal.
Review: The above goals sheet should reviewed every quarter to find out the status and if any difficulty in implementation to review / reschedule the targets.
At the end of the year concerned HOD will evaluate their subordinates achievements by rating.
This can be linked with our pefromance evaluation and reward system to motivate the human capital.
Thanks n Regards
N. Ramakrishna Rao
From India, Madras
Hi NRK Rao
That was a fabulous information from you regarding BSC.
I had a query about info entioned by you.
"While goal setting ie., preparation of goal sheet, we have to frame out when, why, who, where, how to accomplish the particular goal.
Review: The above goals sheet should reviewed every quarter to find out the status and if any difficulty in implementation to review / reschedule the targets"
I need to know whether goals have to be defined in areas of
1. Financial
2. Process
3. Customer
4. Learning
I am looking for a practical implementation on the same ...
Anways thanks for the information.
Regards,
Smita
From India, Bangalore
That was a fabulous information from you regarding BSC.
I had a query about info entioned by you.
"While goal setting ie., preparation of goal sheet, we have to frame out when, why, who, where, how to accomplish the particular goal.
Review: The above goals sheet should reviewed every quarter to find out the status and if any difficulty in implementation to review / reschedule the targets"
I need to know whether goals have to be defined in areas of
1. Financial
2. Process
3. Customer
4. Learning
I am looking for a practical implementation on the same ...
Anways thanks for the information.
Regards,
Smita
From India, Bangalore
Hi Smita,
Normally for every task we frame the action plan to complete viz.,
What is the task?
When task will be completed?
Why the particular task is identified and what is co-relation of our objective?
Where it is to be done?
How the task is to be implemented?
Like the above, we can prepare our goals with action plan in the goal sheet.
Regarding the 4 blocks:
We will classify the overall goals in to:
Financial perspective
Process perspective
Customers perspective and
Learning perspective.
regards,
N. Ramakrishna Rao
From India, Madras
Normally for every task we frame the action plan to complete viz.,
What is the task?
When task will be completed?
Why the particular task is identified and what is co-relation of our objective?
Where it is to be done?
How the task is to be implemented?
Like the above, we can prepare our goals with action plan in the goal sheet.
Regarding the 4 blocks:
We will classify the overall goals in to:
Financial perspective
Process perspective
Customers perspective and
Learning perspective.
regards,
N. Ramakrishna Rao
From India, Madras
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Balance score card.pdf
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