Balanced Scorecard: linking strategic planning to measurement and communication

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Balanced Scorecardlinking strategic planning to
measurement and communication

• Gulcin Cribb and Chris HoganBond University,
  Australia

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OBJECTIVES

• Discuss how BSC methodology can facilitate
  linking a library strategic plan to that of the
  parent entity
• Examine the process of identifying performance
  measures
• Examine cause-effect relationships between
  measures
• Present Bond University library as a case study

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Bond University http//www.bond.edu.au
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Bond University http//www.bond.edu.au
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Balanced Scorecard (BSC)

• Devised to overcome shortcomings of previous
  systems
• Four Perspectives
• Customer - How do customers see us?
• Internal Business - What must we excel at?
• Innovation and Learning - How can we continue to
  improve?
• Financial - How do we look to stakeholders?

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Aims of Bonds BSC

• To enable the measurement of all critical
  activities
• To provide a strategic management system to
  monitor implementation of the strategic plan
• To facilitate communication with all stakeholders
  in particular with staff

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Bond Universitys Balanced Scorecard  A Balanced
Pathway to Development
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In the beginning.

• Strategic plans, lots of stats collected
• Are we doing things right? (How) - process
• To
• Are we doing the right things? (What) - outcome
• Holistic strategic management system linked to
  the Universitys BSC
• Cascaded to all levels and units

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Then

• What processes must function effectively to
  achieve the things stakeholders regard as
  important - objectives
• What information could be collected to help judge
  the degree to which they are operating
  effectively -measures

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Cause-effect linkages

• How individual staff members and teams help
  contribute to the overall outcomes
• Connecting the desired outcomes with the drivers
  of results
• E.g. shelving and student retention
• Information literacy training and excellence in
  teaching, learning and research

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Objectives, measures and targets

• Large numbers of objectives
• Challenge of culling them
• Measures
• Quantifiable
• Easily understood
• Relevant
• Inclusive
• Targets for each of the measures
• E.g. Shelving turnaround times, number of
  unfilled document delivery requests

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Customer Perspective
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Internal Business Perspective
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Innovation and Learning
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Financial Perspective
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Adoption

• Linking the BSC to a set of initiatives and
  projects
• Each project with its own set of objectives,
  owners, timelines and targets
• Review three times a year
• Annual review by all staff reprioritisation
• Team and individual staff adoption of their own
  BSCs

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Issues

• Time-consuming
• Takes a long time to cascade to all levels
• Needs to be driven both top down and bottom up
• Quantitative measures culture of libraries
• Need to eliminate non-strategic initiatives and
  objectives
• Linking budgeting to the strategy development

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Conclusion

• BSC provided a way of articulating what, why and
  how well aspects of our plan and how the plan
  complements the University strategic plan
• Ease of integration into all aspects of
  activities
• Another tool, methodology
• A strategic management system
• Tool to communicate with the stakeholders
• Tool to help achieve continuous improvement
• Journey, not a project

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Bond University http//www.bond.edu.au
Gulcin_cribb_at_bond.edu.au chog5801_at_bigpond.net.au