Balanced Score Card

Miss P greets Suzuki San as he walks in slowly . He wishes back in a more softer and apologetic tone . Miss P says " Suzuki San , if you have been fully out of action for the past 6 months , there should be some real reason for that , so be cheerful and give us some update " .

Suzuki San continues with a dull face . " No Miss P , I should have been in touch and should have updated the blog regularly . However , I must say that I have had a strenuous period last six months and have been traveling heavily " His face turned bright suddenly " Atleast from now onwards I have taken an oath that the blog will be updated every week . I have a few more friends who have agreed to contribute to the blog as well

Now for this week , I want to just present you with a concept called as Balanced Score Card .  Do you know what is a Balanced Score card "

Miss P shook her head " I recall the phrase somewhere , is it related to some balancing of performance or efficiency , sorry Suzuki san , I just dont know " she was already blinking .

Suzuki San laughed and said " Ah , now you are just trying to use the literal meaning of the phrase and come up with your own balanced score card concept Miss P "

He continued " Balanced Score card is a beautiful concept developed by two Harvard School professors in the name of Robert Kaplan and David Norton . The concept shot to fame in the 1990's . The concept is more used by the Top management of organizations to give a direction to their Organisational Strategy .

Most of the times , you will find that a Top management in any organisation are worried only about the Financial returns and nothing else generally  matters to them . However, the balanced score card concept envelopes other perspectives that are very closely related to the Financial performance . "

Miss P said " Ok , then sorry for my ignorance , I never thought it was so much . But Suzuki San , Can you tell me what are the perspectives associated with this , If I can think of something , I can say a company's processes are very much linked "

Suzuki San jumped in joy " Exactly , you got the concept right , the other perspectives that are associated with the Financial perspective are the customer perspective , (Internal) Process perspective and Innovation and Learning Perspective .

You see Miss P , there is no doubt that Financial perspective is very important and the most critical measure of an organisation's success . But only focusing on Finances will not help an organisation excel .

To achieve excellent financial results , the organisation will have to focus on its customers, so we need to have a perspective from Customer point of view .

To achieve Customer service excellence , we need to have robust internal processes and so Internal process is a perspective we need to look at .

To achieve excellent processes and conform to those , we need human resource who have the ability to innovate and learn and improve continuously ( this is where Kaizen comes ) and so we need to have an innovation and learning perspective .

You will also see from the above that each of these perspectives are linked to each other . You cant have a perspective that has an independent function , do you understand Miss P "

"Very much , Suzuki San , Thanks a lot . Is that all , but how will you measure these perspectives " Miss P asked very innocently .

" That is where the whole concept of Balanced Score card comes , Miss P . Each Perspective , according to the authors will have around three -  four objectives . Each of these objectives will have clearly defined measures and targets , tactics and initiatives "

Miss P exclaimed " Suzuki San , you forgot to add one more perspective . The Information overload perspective " and laughed .

Suzuki San got the point and smiled " Yes I know this is too much in one lecture . I dont know if you were aware that my good friend KJ of Specialised Systems had conducted two sessions on Balanced Score card in the month of February and March  at the Kaizen Institute of Zambia . He had explained the concept through a presentation . You are aware Miss P , that KJ is an International Balanced Scorecard Certified Professional .

What i will do Miss P , is to provide you with a link for that presentation so that you can download .

The link is given below (PLEASE COPY AND PASTE IN NEW BROWSER WINDOW)

https://www.dropbox.com/s/3z7e6qrs3p733s5/BSC-Presentation%20by%20Adnan%20Alshiha.pdf?dl=0



I have already discussed with KJ and he is pleased to provide the link . Please note that he wishes to convey that the presentation was not made by him but by one Adnan Alshiha and he obtained this from internet . KJ says of all the presentations , this one is very useful and elaborate .

I am loading it in the blog that myself and KJ are maintaining . So whoever wishes to know more about the balanced score card can download and SHOULD THERE BE ANY QUERIES OR DOUBTS , DO NOT HESITATE TO SEND A MAIL TO MY FRIEND KJ ON

kj@specialised.com.zm

Now , its time already and I will see you next week positively ".

Miss P was so moved by this bumper bonanza of knowledge . "Suzuki San , words cant express my thankfulness . I will certainly go through and come back to you with any doubts and will write to KJ as well . Please convey my wishes to him . Thanks "

Note 1 : Suzuki San , Miss P and her company are characters  developed by KJ and has no relevance to any particular person / processes/situation    . All mention are purely for illustration purpose of the central theme of the case and are personal opinions unless cited and shall have no recourse of consequences to author . Readers can use their practical inputs to alter any of the material that may be published . Readers are invited to express their views on this continuing case study series .

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