(平衡计分)卡年平衡计 分卡短期课程资料 (平衡计分)卡年平衡计 分卡短期课程资料 ExcellenceinFinancialManagement (平衡计分)卡年平衡计 分卡短期课程资料 (平衡计分)卡年平衡计 分卡短期课程资料 ExcellenceinFinancialManagement Course11:TheBalancedScorecardCourse11:TheBalancedScorecard Preparedby:MattH.Evans,CPA,CMA,CFM Thiscourseprovidesastep-by- stepguideonhowtobuildaBalancedScorecard.Anund erstandingofstrategicplanningisremendedpriort otakingthiscourse.RefertoCourse10onstrategicp lanning.Thiscourseisremendedfor2hoursofContin uingProfessionalEducation.Inordertoreceivecre dit,youwillneedtopassamultiple- choiceexamwhichisadministeredbyinstallingthee xefileversionofthisshortcourse.Theexefilecanb edownloadedfrom/training Revised:February4,2002 BasicConcepts Accountantsmunicatewithfinancialstatements.Engineersmunicatewithas- builtdrawings.Architectsmunicatewithphysicalmodels.Itseemsthatalmosteveryprofes sionhassomemeansofmunicatingclearlytotheenduser.However,forpeopleengagedinstrat egicplanningtherehasbeenanon- goingdilemma.Thefinishedproduct,thestrategicplan,hasnotmunicatedandreachedtheen duser.Surestrategicplansarenicetolookat,fullofbarcharts,nicecovers,wellwritten, andprofessionallyprepared;buttheysimplyhavenotimpactedthepeoplewhomustexecuteth estrategicplan.Theendresulthasbeenpoorexecutionofthestrategicplanthroughoutthee ntireorganization.Andthesadfactofthematteristhatexecutionofthestrategicplanisev erybodysbusiness,notjustupperlevelmanagement.Upperlevelmanagementcreatesthest rategy,butexecutiontakesplacefromthebottomup. Sowhydostrategicplansfail?AccordingtotheBalancedScorecardCollaborative,thereare fourbarrierstostrategicimplementation: 1. VisionBarrier Nooneintheorganizationunderstandsthestrategiesoftheorganization. 2. PeopleBarrier Mostpeoplehaveobjectivesthatarenotlinkedtothestrategyoftheorganization. 3. ResourceBarrier Time,energy,andmoneyarenotallocatedtothosethingsthatarecriticaltotheorganiza tion.Forexample,budgetsarenotlinkedtostrategy,resultinginwastedresources. 4. ManagementBarrier Managementspendstoolittletimeonstrategyandtoomuchtimeonshort- termtacticaldecision-making. Therefore,weneedanewwayofmunicatingstrategytotheend- user.EntertheBalancedScorecard.Atlonglast,strategicplannersnowhaveacrispandclea rwayofmunicatingstrategy.Withbalancedscorecards,strategyreacheseveryoneinalangu agethatmakessense.Whenstrategyisexpressedintermsofmeasurementsandtargets,theemp loyeecanrelatetowhatmusthappen.Thisleadstomuchbetterexecutionofstrategy. NotonlydoestheBalancedScorecardtransformhowthestrategicplanisexpressed,butitals opullseverythingtogether.Thisistheso- called“causeandeffect”relationshiporlinkingofallelementstogether.Forexample,i fyouwantstrongfinancialresults,youmusthavegreatcustomerservice.Ifyouwantgreatcu stomerservice,youmusthaveexcellentprocessesinplace(suchasCustomerRelationsManag ement).Ifyouwantgreatprocesses,youmusthavetherightpeople,knowledge,andsystems(i ntellectualcapital). Inthepast,manyponentsforimplementingastrategicplanhavebeenmanagedseparately,not collectivelywithinoneoverallmanagementsystem.Asaresult,everythinghasmovedindiff erentdirections,leadingtopoorexecutionofthestrategicplan.Likeamarchingband,ever yoneneedstomoveinlockstepbehindoneoverallstrategy. Therefore,youshouldthinkoftheBalancedScorecardasamanagementsystem,notjustanothe rperformancemeasurementprogram.Andsincestrategyisatthecenterofvalue- creationfortheorganization,theBalancedScorecardhasbeeacriticalmanagementsystemf oranyorganization.In1997,HarvardBusinessReviewcalledtheBalancedScorecardoneofth emostsignificantbusinessdevelopmentsoftheprevious75years. Chapter 1 BalancedScorecardsprovidetheframeworkaroundwhichanorganizationchangesthroughthe executionofitsstrategy.Thisisacplishedbylinkingeverythingtogether. ThisiswhatmakestheBalancedScorecardsodifferent;itcapturesthecauseandeffectrelat ionshipthroughouteverypartoftheorganization.InthecaseofMobilOil,thetruckdriverp ullsabalancedscorecardoffthevisorinhiscab,outliningthefivethingshemustdoasatruc kdriver.Likealaserbeam,strategynowhasaclearpathtoeveryoneintheorganization. Throughouttheentireprocessofbuildingandimplementingabalancedscorecard,weallneed tospeakthesamelanguage.Therefore,thefirstthingtogetoutofthewayistounderstandafe wterms: CauseEffectRelationshipCauseEffectRelationship:Thenaturalflowofbusinessperformancefromalowerleveltoanu pperlevelwithinorbetweenperspectives.Forexample,trainingemployeesoncustomerrela tionsleadstobettercustomerservicewhichinturnleadstoimprovedfinancialresults.O nesideistheleaderordriver,producinganendresultoreffectontheotherside. GoalGoal:Anoverallachievementthatisconsideredcriticaltothefuturesuccessoftheorganiz ationGoalsexpresswheretheorganizationwantstobe. MeasurementMeasurement:Awayofmonitoringandtrackingtheprogressofstrategicobjectives.Measure mentscanbeleadingindicatorsofperformance(leadstoanendresult)orlaggingindicators (theendresults). ObjectiveObjective:Whatspecificallymustbedonetoexecutethestrategy;i.e.whatiscriticaltoth efuturesuccessofourstrategy?Whattheorganizationmustdotoreachitsgoals! PerspectivesPerspectives: