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Balanced Scorecard: linking strategic planning to measurement and communication

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Title: Balanced Scorecard: linking strategic planning to measurement and communication Gulcin Cribb and Chris Hogan Bond University, Australia – PowerPoint PPT presentation

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Title: Balanced Scorecard: linking strategic planning to measurement and communication


1
Balanced Scorecardlinking strategic planning to
measurement and communication
  • Gulcin Cribb and Chris HoganBond University,
    Australia

2
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

3
Bond University http//www.bond.edu.au
4
Bond University http//www.bond.edu.au
5
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?

6
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

7
Bond Universitys Balanced Scorecard  A Balanced
Pathway to Development
8
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

9
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

10
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

11
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

12
Customer Perspective
13
Internal Business Perspective
14
Innovation and Learning
15
Financial Perspective
16
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

17
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

18
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

19
Bond University http//www.bond.edu.au
Gulcin_cribb_at_bond.edu.au chog5801_at_bigpond.net.au
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