BSC Designer – Balanced Scorecard Software

Checklist on designing good strategy maps

This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.

Checklist on designing good strategy maps

• Strategy maps must depict critical information in simple manner

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This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.

IT strategy map - enhance IT solution

Critique: An IT strategy map gives a framework to achieve an IT objective. For example, let’s consider the objective is to enhance IT solution.

The Learning and Development Perspective aims at enhancing database, systems and networks, implementing proven information technology and get training on working of new software. Internal Perspective focus at developing processes for networking throughout the organization and with stakeholders as well, appointing technically skilled staff, and maintaining IT standards. The customer perspective focuses at providing the required quality and quantity of products as desired by customers. The Financial Perspective aims at improving cost structure, increasing asset utilization and formulating cost-benefit analysis of each new software or technology before implementing.

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This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.

Strategy maps success stories. Case III- Rotomac Shipping INC

Rotomac Shipping Inc, a leading shipping corporation based out of Panama, had an enviable record as a efficient shipping corporation with a strong fiscal performance spanning across decades. However in recent years, increasing oil prices and tendency of suppliers to lay stress on unconventional shipping routes has started to take an effect on both its profitability and operation efficiency. The management of RSI led by Clark Smith, was striving to streamline the operations for the last 2 years and yet were not able to align their strategic goals with operational plans. Exasperated at the continuous failure to structure the working, the management finally decided to take help of Zelcosm Consulting, a core BPR firm specializing in the shipping industry.

In their very first meeting with Clark, executives from Zelcosm asked the management to devise a balance scorecard for the company and also design overall and functional strategy maps. After series of deliberations, a strategy paradigm was identified for RSI and series of strategy maps were devised to present it in a manner that different stakeholders can identify what was expected from them.

With the help of strategy maps and some guidance form industry consultants, RSI was able to streamline its operations and increase work efficiency by a substantial level within a year. The company incidentally saw a 23 percent increase in its net profits while total sales increase hovered around a meager 8 percent and this fact was a testament of the level of profitability that the company was able to derive out the usage of strategy maps.

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This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.

Goals and applications of strategy maps:

1. Strategy Maps are developed with keeping in mind business objectives and aims for long term profitability and illustrates a lined chain of events that contribute to the subsequent business ambition.
   For any commercial business entity, a strategy map covers tactical approaches to achieve its business goals with the assistance of diverse tools that depicts a cause and effect relationship between the different components or key performance indicators in a balanced scorecard to reach out to the requisite business deliverables.
2. Strategy maps have varied goals for diverse verticals and specific purposes, most likely for strategic alignment and measurement of business processes along with planned appraisals to scrutinize performance and subsequently manage them efficiently and furthermore to use the strategy maps in generating consensus around the calculated business objectives and strive to facilitate effective communication of same to all stakeholders and creating a picture encompassing all the objectives and making it clearly visible and descriptive to comprehend and follow by all and arrange all the complex data into simple diagrams and eventually drive alignment.
3. Let take an example of technology implementation in an organization; it is essential to plan the business goals strategically in order to make the IT processes more purposeful and complementary to the desired governance of the department and smoothening out the processes and structures.
   The idea is to do away with extensive documentary mediums which contain the complex data in a theoretical manner covering the intricacies of input and output facets of the IT specific strategies, with a strong assessment procedure to regularly review and update the generated plans to maintain their long term relevance and significance.

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This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.

A brief background of strategy maps

As businesses become more complex and diverse, the apparent need to strategize and manage the business goals in a long term perspective gains prominence.

Achieving the long term objectives and facilitating the compliance of policies, as conceptualized by the management requires a clear understanding of the business goals and the approach to be followed; and this is where Strategy Maps come into the picture.

In its simplest form a strategy map can be considered as a pictorial representation of an organization’s plans and its approach in a cause and effect relationship.

It essentially offers an elegant way to communicate to stake holders how the organization hopes to achieve its long term goals taking into view four key viewpoints namely financial perspective, customer perspective, internal perspective and learning and growth perspective.

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This slide is for demonstration purposes only. Check the Business Strategy Map homepage for details and full version.

How to design strategy maps – step by step algorithms

1. The top management builds a hypothesis pertaining to the organizational goals. The main aspect covered under a strategy map or an algorithm is the basic goal that an organization wishes to achieve and in the process build up a series of mediums linked with each other to assist in achievement of the same.
2. Top Management Brainstorms on Short listing Key goals. Prior to setting up strategic algorithms, the top management thinks over ideas contributed by the top members and picks on specific suggestions to be represented in the maps that most significantly depict the organization goals.
3. Most specific goals agreed upon. As the management members are encouraged to voice their ideas, short listed suggestions are further worked and discussed upon to be represented in the diagram as the chief objectives to be achievable with the process described.

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Business Strategy Maps. Step-by-step algorithms on how to design strategy maps; how to integrate strategy map in business processes; how to update strategy maps

Title: Business Strategy Maps

Summary: This part of the Balanced Scorecard Toolkit is a guide on how to use the business strategy map concept.

• Buy full version as a part of  Balanced Scorecard Toolkit

Slides number: 54. Formats: PPT (MS PowerPoint), Adobe PDFA brief background of strategy maps

• Goals and applications of strategy maps
• Step-by-step algorithms:
  • how to design strategy maps;
  • how to integrate strategy map in business processes;
  • how to update strategy maps
• Strategy maps success stories
• Examples of strategy maps and critique
• Checklist on designing good strategy maps

Sample Slides

How to design strategy maps - step by step algorithms

Strategy Map Examples: IT strategy map - enhance IT solution

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Product Content

1. Business strategy maps
2. A brief background of strategy maps
3. A brief background of strategy maps
4. Theory about strategy maps
5. Theoretical concept of strategy maps
6. Classification of strategy maps
7. Classification of strategy maps
8. Classification of strategy maps
9. Classification of strategy maps
10. People who are involved in strategy map processes and their roles
11. People who are involved in strategy map processes and their roles
12. People who are involved in strategy map processes and their roles
13. Goals and applications of strategy maps
14. Goals and applications of strategy maps
15. Goals and applications of strategy maps
16. How to design strategy maps – step by step algorithms
17. How to design strategy maps – step by step algorithms
18. How to design strategy maps – step by step algorithms
19. How to design strategy maps – step by step algorithms
20. How to design strategy maps
21. How to design strategy maps
22. How to integrate strategy map in business processes – step by step algorithm
23. How to integrate strategy map in business processes – step by step algorithm
24. How to integrate strategy map in business processes – step by step algorithm
25. How to update strategy maps when business processes are updated – step by step algorithm
26. How to update strategy maps when business processes are updated – step by step algorithm
27. Strategy maps success stories. Case I- Anxetic technologies ltd.
28. Strategy maps success stories. Case  II- gallop industries
29. Strategy maps success stories. Case III- Rotomac shipping inc
30. Strategy maps success stories. Case IV- Nash retail inc
31. Strategy map. Examples & critiques
32. Banking strategy map – reducing NPA
33. Customer service strategy map – improve customer satisfaction levels in an inbound call center
34. Finance strategy map – enhancing shareholder value
35. HR strategy map- making HR process simple & paperless
36. IT strategy map- enhance IT solution
37. Manufacturing strategy map – enhancing performance
38. Strategy map for internet marketing – improve conversion rate
39. Operations strategy map – enhancing business operations
40. Strategy map for agricultural company – improve farm output
41. Strategy map for airlines – enhancing service value
42. Strategy map for amusement parks – increasing footfall
43. Strategy map for electronics manufacturer – improve sales volume
44. Strategy map for garment factory- increase market share
45. Strategy map for healthcare sector – enhance levels of customer service
46. Strategy map for pharmaceutical organization – focus on increasing market share
47. Strategy map for real estate – revenue growth
48. Strategy map for telecom– increasing number of subscribers
49. Strategy map on movie theatre – increase foot falls
50. Supply chain strategy map – increase overall efficiency and responsiveness
51. Transport strategy map – improve delivery of services
52. Checklist on designing good strategy maps
53. Checklist on designing good strategy maps
54. Conclusion about strategy map efficiency

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Evaluation of approaches to devising Key Performance Indicators (KPI)

Title: Evaluation of approaches to devising Key Performance Indicators (KPI)

Page number: 44

Summary: This paper reviews the background literature on the use (and abuse) of key performance indicators and then offers practical advice on constructing, integrating and reporting KPIs.

The report includes 70 KPIs with judgement and analysis of their practical application.

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You will learn:

• Approaches and uses of Key Performance Indicators;
• Practical advice on constructing, integrating and reporting KPIs;
• Integrating and Reporting KPIs;
• Practical Examples of KPIs;

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Table of contents:

Page Examples

Evaluation of approaches to devising Key Performance Indicators (KPI)

Qualitative or Quantitative Measures? Measuring Intangible Variables

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Balanced Scorecard and Benchmarking

Title: Balanced Scorecard and Benchmarking

Summary: The Balanced Scorecard and Benchmarking document reviews ideas behind benchmarking, the possibility of using Balanced Scorecard for benchmarking, real-life samples of using Balanced Scorecard approach for benchmarking. This presentation is a part of Balanced Scorecard Toolkit.

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Slides number: 65. Formats: PPT (MS PowerPoint), Adobe PDF

• Introduction into Balanced Scorecard and Benchmarking
• Benchmarking structure and procedures
• Pitfalls to be avoided while benchmarking
• Using Balanced Scorecard for Benchmarking
• Best Practices in Benchmarking
• Example to illustrate the use of BSC for Benchmarking
• Balanced Scorecard need to be designed for benchmarking
• Benchmarking stages: Planning, Evaluation, Action, Revise
• Checklists, Case studies and FAQs
• Benchmarking and Balanced Scorecard tools

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Sample slides

Slide 14. Benchmarking details. Processes.

Slide 24. Efficiency frontiers of organizations.

Presentation Content by Slides:

1. Balanced Scorecard and Benchmarking
2. Using Balanced Scorecard for Benchmarking
3. Understanding Benchmarking Process
4. What is Balanced Scorecard
5. Benchmarking using Balanced Scorecard perspectives
6. Benchmarking using Balanced Scorecard indicators
7. Balanced Scorecard vs. earlier concepts
8. What is Benchmarking?
9. Why Benchmarking?
10. Benchmarking and comparison
11. Benchmarking and competitive analysis
12. Benchmarking structure
13. Benchmarking procedures
14. Benchmarking details. Processes.
15. Real-life Benchmarking
16. Using surveys in Benchmarking
17. Pitfalls to be avoided while benchmarking
18. Using Balanced Scorecard for Benchmarking
19. Best Practices in Benchmarking
20. Inter-relationships of management practices
21. Example to illustrate the use of BSC for Benchmarking
22. Using of BSC for Benchmarking. Formulas.
23. BSC for Benchmarking. The range of application.
24. Efficiency frontiers of organizations
25. Balanced Scorecard need to be designed for benchmarking
26. Sharing positive effects with benchmarking
27. Process of Benchmarking
28. Planning stage in benchmarking
29. Using metrics during planning stage
30. Planning stage checklist
31. Planning stage. Case study.
32. Using Balanced Scorecard for benchmarking on planning stage
33. Evaluation stage of benchmarking
34. Evaluation task in benchmarking
35. Evaluation stage in Benchmarking – checklist
36. Benchmarking evaluation stage. Case study
37. Case study. Moving from planning to evaluation stage.
38. The Action stage in the Benchmarking process
39. Release the planned program
40. Action stage in Benchmarking – Checklist
41. Action Stage of Benchmarking. Case Study
42. Benchmarking in action. Case Study
43. Revise. Stage of benchmarking.
44. Analyze results obtained from benchmarking.
45. Benchmarking Revise. Checklist
46. Benchmarking results analysis. Case Study
47. Benchmarking and Balanced Scorecard tools
48. Using the BSC Designer for benchmarking
49. Indicators and weights in BSC Designer
50. Weighted indicators for scorecard or benchmarking
51. Creating evaluation indicators with BSC Designer
52. Measure and evaluation unit in BSC Designer
53. Min and max values for scorecard indicator
54. Balanced Scorecard and Benchmarking. Frequently Asked Questions (FAQs)
55. What changes should be made to scorecard for benchmarking? Frequently Asked Questions (FAQs)
56. Choosing right indicators and activities to benchmark. Frequently Asked Questions (FAQs)
57. Does “benchmarking” mean “comparison”? Frequently Asked Questions (FAQs)
58. Using Balanced Scorecard for Benchmarking. Case Study
59. Benchmarking and TQM. Case Study
60. Successful implementing of benchmarking. Case study.
61. Data collection for benchmarking. Case study.
62. Metrics in Balanced Scorecard and Benchmarking
63. Results of Balanced Scorecard for Benchmarking. Case study.
64. Results and Conclusions
65. Using Balanced Scorecard for Benchmarking – Checklist

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Title: How to calculate performance indicators step-by-step.

• This document is a part of BSC Toolkit.

Pages number: 3

Summary: Balanced Scorecard is a well-known concept and it’s easy to find helpful articles about what this concept is. Balanced Scorecard projections and perspectives are also talked about much. Business professionals lack essential information about real-life metrics and information on how to build actual scorecard, which supports weights and scores, which allows calculating the performance values. This whitepaper is a Balanced Scorecard design toolkit, which contains some “how-to” ideas.

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Key topics:

1. Measuring business performance with Balanced Scorecard concept. Balanced Scorecard helps to measure performance and share business goals.
2. Balanced Scorecard Toolkit: Perspectives and Metrics. Four must-use perspectives to describe any business unit. Always need to start with these metric groups.
3. Balanced Scorecard Toolkit: Weights and Scores. The Balanced Scorecard should be represented as a set of metrics, weights and scores.
4. Balanced Scorecard Toolkit: Calculations. Steps to calculate performance using a given values of metric importance and user’s scores.
5. Normalization and performance calculation. Calculating the performance value using normalized score and weight values.
6. Conclusion. Remember to carefully evaluate Balanced Scorecard metrics

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Abstract: Balanced Scorecard concept is about measure and control. The first step is to determine the goal of Balanced Scorecard: it should help to measure and control the performance of business unit; The next step is to assign a target performance values and develop a plan to archive the target results; The final step is controlling the performance, re-thinking business and separate business processes;

Balanced Scorecard must be a document packed with performance information. That’s why it is the best way to share management and business goal ideas with colleagues.

Building a Scorecard that works involve two main processes: suggesting a proper metrics and calculating the total performance;

Metrics should be designed by key managers; suggested metrics should be carefully evaluated in action. As for calculating performance, start with some simpler tools, such as spreadsheet processor to describe the Balanced Scorecard of the business unit and calculate the performance.

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