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© Friedag 2011 1
How to improveFuture with the BSCStrategy development and implementation with the
Balanced Scorecard [BSC]
© Friedag 2011 2
They must often change who would be constant in happiness or
wisdom.___________________
Confucius
They must often change who would be constant in happiness or
wisdom.___________________
Confucius
© Friedag 2011 3
independent consultant specialising in:
Implementation of the Balanced Scorecard in companies
Practice-orientated Balanced Scorecard workshops
Member of the public relations board of the ICV
Lecturer at the Humboldt University Berlin
Hobbies: moving in nature, volleyball, sailing
Dr. Herwig R. Friedag
Dr. Herwig R. Friedag Friedag Consult
Beskidenstr. 33, D 14129 Berlin Fon +49 30 80 40 40 00Fax +49 30 80 40 40 01
consult@friedag.comwww.friedag.com
Born in 1950, graduate economist
© Friedag 2011 4
Publications
Total number of copies > 75.000 in CZ, D, FIN, PL, RUS
1999, 2000, 20022001
2003
2005
2004
2002, 2003, 2005, 2011
2009
2000, 2002, 2004
© Friedag / Lewandowska 2008 5
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
5© Friedag 2011
© Friedag / Lewandowska 2008 6
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
6© Friedag 2011
© Friedag 2011 7
„Whatever will be, will be“;
nonetheless, we can, we have to do something today for the future.
Therefore, we should
at least meet the requirements of the future
or better: set standards
or even: try to influence the changes in society
We want, we have to prepare for our future, even though it is not a 100% controllable !
We want, we have to prepare for our future, even though it is not a 100% controllable !
© Friedag 2011 8
Why could a BSC make sense for your company?
We achieve joint objectives
We translate strategies into action
By communication we achieve thinking, responsibility, objective-orientated action of our employees and partners
We assure sustainability of our company
© Friedag 2011 9
52% of the Germans have secluded with their employer.
Responding to the question in a representative study, whether they would presumably be working at their current company next year, they answered:
„No way - as soon as I find a job in a different company, I will be leaving the firm!"
Source: Financial Times Germany, June 02 2004, page 2
Is the BSC sensible for our company ?
© Friedag 2011 10
Requirements to start the process of strategy implementation
Willingness for change
Reduce Blame-Culture – learning to learn from mistakes:“no mistake is the biggest mistake”
Willingness of management to work out and discuss strategic objectives
A strategy !
© Friedag 2011 11
The future has many names.For the weak, it is the unreachable.
For the fearsome, it is the unknown.
For the brave, it is the chance.___________________
Victor Hugo
The future has many names.For the weak, it is the unreachable.
For the fearsome, it is the unknown.
For the brave, it is the chance.___________________
Victor Hugo
© Friedag / Lewandowska 2008 12
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
12© Friedag 2011
© Friedag / Lewandowska 2008 13
Strategy
What is the strategic objective of a company/an organisation?
The basic strategic objective is that of securing the sustainability of a company/organisation.
Sustainability can be achieved only on the condition that all relevant stakeholders can benefit from it.
This includes antithetic interests and conflicts which contribute to the dynamic development of an organisation.
Consequently the objective of a strategy is that of generating a dynamic equilibrium of the benefits which can accepted by all the
relevant stakeholders.
Consequently the objective of a strategy is that of generating a dynamic equilibrium of the benefits which can accepted by all the
relevant stakeholders.
13© Friedag 2011
14
Strategy as part of a holistic management
Strategic potentialities as input-parameters for results and finance/liquidity; the Balanced Scorecard as tool to work out and implement the company‘s strategy.
Assets .
Strategy Result Finance
Potential planningwith e.g.
Balanced Scorecardetc.
Controller as a Strategymoderator / consultant
Profit planningwith e.g.
Contribution marginaccounting etc.
Controller as a mediatorbetween internal and external accounting
Finance planningwith e.g.
Free Cash Flow-accounting etc.
Controller as a manager of thestakeholder interests
Logic of the decision
Logic of the tools
liabilities
G
D
PFAWC
EquDbt
© Friedag 2011 15
Expenditures
Accrual of money
develop exploit
Orders / Sales
Use capacities
Quality assurance
Employee engagement
Safeguarding liquidity
Partner engagement
Marketing
Develop capacities
Quality potential
HR competences
Investor Relations
Partnership
strategic operational
PotentialsPossibilities
+competencies
What is strategic, what is operational ?
Accrual of potentials
to do ?
to do nothing ?
long-term ?
short-term ?
© Friedag 2011 16
orientation by objectives
orientation by objectives
financial resources
financial resources
motivation for implementation
motivation for implementationxx
economic forceeconomic force
time resourcestime resourcesx
Aspects of the development of potential
© Friedag 2011 17
Kaplan/Norton
Balanced Scorecard:translate strategy into action!
Only the one who possesses a strategy, can implement it.
Therefore: The one who wants a Balanced Scorecard has to start with the strategy!
Only the one who possesses a strategy, can implement it.
Therefore: The one who wants a Balanced Scorecard has to start with the strategy!
Strategic House
Strategicprojects
18
How do we proceed ?
Business model
Strategy-development
Strategy-Use
(Integration in the management cycle)
Mission* Tasks - strategic challenge
Corporate Policy Orientation
Reporting Scorecard
Strategy-implemen-
tation
running businessmiddle term planning / Budget /
Profit / Liquidity
Balanced Scorecard
Vision*Closeness => Bearing business idea
* long-time
19
Example: Vision & Corporate Policy Orientation
Company producing rear-view mirrors for cars
the “vision” of this company: the leading car-manufacturers are our clients
the “Corporate Policy Orientation”: target-year: 2020 Turnover: from 750 Mio € to 2.500 Mio € profit-margin: 7%
20
Exercise: decisions to be made
Please decide which company could be the “target” of our work
What could be the (long-time) “vision” of this company?
What is the “Corporate Policy Orientation”: target-year Turnover profit-margin
You have 30 minutes time !
© Friedag / Lewandowska 2008 21
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
21© Friedag 2011
© Friedag 2011 22
The Balanced Scorecard is a universal tool to align the acting of a group of people toward
a joint objective.
The Balanced Scorecard is a universal tool to align the acting of a group of people toward
a joint objective.
subjective: What are we ready to do and will we take
over the responsibility?
subjective: What are we ready to do and will we take
over the responsibility?
objective:What objectives and tasks do we want to
commit ourselves to?
objective:What objectives and tasks do we want to
commit ourselves to?
What is a Balanced Scorecard ?
© Friedag 2011 23
I. Identification of objectives
(Mission, vision, leading indicators)
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
IV. Bundle actions into
strategic projectsV. Reporting with the
Balanced Scorecard
V. Reporting with the
Balanced Scorecard
VI. Arrange the BSC into the
process of leading
VI. Arrange the BSC into the
process of leading
VII. Organize learning process
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
© Friedag 2011 24
I. Identification of objectives
(Mission, vision, leading indicators)
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
V. Reporting with the
Balanced Scorecard
VI. Arrange the BSC into the process of leading
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
© Friedag / Lewandowska 2008 25
I. Identification of objectives
Strategic starting point: our business model Who is our customer ?
Target persons
What are the needs of our customer?
Core need
How can we find a cost-covering solution for that? Core competence
How can we be better than the competitors?
Uniqueness
25© Friedag 2011
26
Example: business model & strategic challenge
Our business model Target-customer: the three technical-leading car-producer Core need: distinctive rear-view mirrors Core competence: specific mirrors in all
quantities/specifications Uniqueness: innovation on highest performance
And then: Our strategic challenge:
to have the most innovative developments
27
Please name in a few words the four aspects of the business model for our example-company
What will be the strategic challenge to be achieved
You have 30 minutes time !
Exercise: business model & strategic challenge
28
What we focus on the implementation of the strategy ?
What will be our strategic period?
Vision* What do we want to achieve in this period ? (a “milestone“ of the vision)
Mission Statement Strategic message: How do we want to be seen after this period ?
Key indicatorHow can we recognise that we are successful?
* “Vision” from now on will be the main goal for the next two or three years
goals we want to realise in the next future
© Friedag 2011 29
What do we want to achieve ?
We are becoming technological market leader
Vision
The vision is destined for our company‘s employees.
It matches our values that are exemplified through our own life.
The vision is destined for our company‘s employees.
It matches our values that are exemplified through our own life.
© Friedag 2011 30
Why shall people be our customers ?
Mission statement
We are worldwide leading innovative supplier of rear-view mirrors.
The mission statement aims at the memory of our potential customers / partner.
With the mission statement we raise expectations that we have to meet.
The mission statement aims at the memory of our potential customers / partner.
With the mission statement we raise expectations that we have to meet.
© Friedag 2011 31
One key figure for the company
What shall be the most important criteria that subordinates all strategic decisions?
How do we want to measure that ?
Leading indicator
Leading indicator: number of jointly (with customers) developed innovations
With the leading indicator, we concretize our joint orientation
With the leading indicator, we concretize our joint orientation
© Friedag 2011 32
worldwide leading innovative supplier of
rear-view mirrors
We are becoming technological market leader
number of jointly (with customers) developed innovations
visionvision
mission statement
mission statement
leading indicator
leading indicator
Agreement on objectives
33
Exercise: goals for the next future
What could be for our company the
1.strategic period
2.mission,
3.vision and the
leading indicator
You have 30 minutes time !
33
© Friedag 2011 34
When there is no agreement in principle,
then it is senseless to scheme.___________________
Confucius
When there is no agreement in principle,
then it is senseless to scheme.___________________
Confucius
© Friedag / Lewandowska 2008 35
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
35© Friedag 2011
© Friedag 2011 36
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
V. Reporting with the
Balanced Scorecard
VI. Arrange the BSC into the process of leading
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
© Friedag / Lewandowska 2008 37
Which tasks do we have to fulfil, in order to achieve our vision?
strategic topics
Which potentials do we have to develop in order to achieve our vision?
development areas (perspectives)
II. Developing the strategic action frame
Mission statement: Worldwide leading innovative supplier of rear-view mirror
Vision: We will become technological market leader
Leading indicator: Number of jointly (with customers) developed innovations
Which potentials do we have to jointly develop so we are able to face the imponderables of the future better than the competitors can do it?
37© Friedag 2011
© Friedag 2011 38
Strategic topicsP
ersp
ecti
ves
what shall we do now?
worldwide leading innovative supplier
we are becoming technological market leader
number of jointly developed innovations
extension of local presence
entry into chinese market
trade volume
image
jointly developed innovations# of projects
higher revenue
extension of sales dept.
sale potential
objective
strategic topic
Indicator
Per
spec
tive
s
customer retentionCustomers
new contracts dedication
employeesCIP-Groups
reliabilityprocesses
error ratio (ppm)
reliabilitypartners
audits
cost consciousness
fin. & controllingCash Flow
© Friedag 2011 39
Perspectives for the stakeholderP
ersp
ecti
ves
With whom and for whom do we intend to do it ?
worldwide leading innovative supplier
we are becoming technological market leader
number of jointly developed innovations
extension of local presence
entry into chinese market
trade volume
image jointly dev. innov.
# of projects
higher revenueextension of sales
dept.sale potential
objective
strategic topic
Indicator
Per
spec
tive
s
Cost consciousnessfin. & controlling
Cash Flow
reliabilityPartners
Audits
dedicationemployeesCIP-Groups
Customer retentionCustomers
New contracts
CIP = continuous
improvement process
© Friedag 2011 40
Our strategic frameP
ersp
ecti
ves
worldwide leading innovative supplier
we are becoming technological market leader
number of jointly developed innovations
extension of local presence
entry into chinese market
trade volume
higher revenue
extension of sales dept.
sale potential
objective
Strategic topic
Indicator
Per
spec
tive
s
Cost consciousnessfin. & controlling
Cash Flow
ReliabilityPartners
Audits
dedicationemployeesCIP-Groups
Customer retentionCustomers
New contracts
image
jointly developed innovations# of projects
41
Exercise group 1: Strategic topics
What are the two main tasks (services, products, changes) that we have to devote ourselves to in order to achieve the vision in the near future ?
For each topic, define an objective and an indicator with which we can measure the achievement
Less is more !Recommendation: less than 5 strategies
You have 30 minutes time !
41
42
Exercise group 2: Perspectives of the stakeholder
42
Who are the relevant stakeholders ?
How can we motivate our stakeholders to aim at our strategic topics? Define for each perspective an objective and an indicator, which measures the degree of achievement
Less is more !Recommendation: maximum of 6 perspectives
You have 30 minutes time !
© Friedag / Lewandowska 2008 43
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
43© Friedag 2011
© Friedag 2011 44
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
V. Reporting with the
Balanced Scorecard
VI. Arrange the BSC into the process of leading
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
© Friedag / Lewandowska 2008 45
Kaplan/Norton
Translate strategy into action!
It is only through the concrete, daily actions of all the employees in a
company that potentials can be developed .
45© Friedag 2011
© Friedag / Lewandowska 2008 46
Check if every action matches
the strategic topics and
the development areas (perspectives)!
Objective
Action
Indicator
Strategic topics Development areas (perspectives)
III. Objective-oriented actions - the OAI-principle
46© Friedag 2011
© Friedag 2011 47
Define objective-orientated actionsP
ersp
ecti
ves
worldwide leading innovative supplier
we are becoming technological market leader
number of jointly developed innovations
extension of local presence
entry into chinese market
trade volume
higher revenue
extension of sales dept.
sale potential
objective
Strategic topic
Indicator
Per
spec
tive
s
Cost consciousnessfin. & controlling
Cash Flow
reliabilityPartners
Audits
dedicationemployeesCIP-Groups
Customer retentionCustomers
New contracts
image
jointly developed innovations# of projects
Objective: create enthusiasm at the customers
Action: customer visits approx. 8 weeks after first delivery: „Any problems ?"
Indicator: number of visited customers
© Friedag 2011 48
Create objective-orientated actionsP
ersp
ecti
ves
worldwide leading innovative supplier
we are becoming technological market leader
number of jointly developed innovations
extension of local presence
entry into chinese market
trade volume
higher revenue
extension of sales dept.
sale potential
objective
Strategic topic
Indicator
Per
spec
tive
s
Cost consciousnessfin. & controlling
Cash Flow
ReliabilityPartners
Audits
dedicationemployeesCIP-Groups
Customer retentionCustomers
New contracts
image
jointly developed innovations# of projects
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator Objective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
© Friedag / Lewandowska 2008 49
So many OAI´s
49© Friedag 2011
© Friedag / Lewandowska 2008 50
Example: customers
Objective: awake enthusiasm among customers
Action: customer visits approx. 8 weeks after first delivery: „Any problems ?"
Indicator: number of visited customers
S 1
For each development field of the company there have to be developed actions supporting the achievement of the goals.
Work group: OAI
50© Friedag 2011
© Friedag / Lewandowska 2008 51
Exercise: Objective-Action-Indicator
What exactly do we have now to do to achieve our
our strategical goals in 2010:
1.Objective
2.Action
3.Indicator
All three points please on one moderation-card – readable written
You have 30 minutes time !
51© Friedag 2011
© Friedag / Lewandowska 2008 52
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
52© Friedag 2011
© Friedag 2011 53
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
IV. Bundle actions into
strategic projects
V. Reporting with the
Balanced Scorecard
VI. Arrange the BSC into the process of leading
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
© Friedag 2011 54
IV Implement strategic projectsP
ersp
ecti
ves
worldwide leading innovative supplier
we are becoming technological market leader
number of jointly developed innovations
extension of local presence
entry into chinese market
trade volume
higher revenue
extension of sales dept.
sale potential
objective
Strategic topic
Indicator
Per
spec
tive
s
Cost consciousnessfin. & controlling
Cash Flow
ReliabilityPartners
Audits
dedicationemployeesCIP-Groups
Customer retentionCustomers
New contracts
image
jointly developed innovations# of projects
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator Objective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicatorObjective
ActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
ObjectiveActionIndicator
Objective Project Indicator
ObjectiveProjectIndicator
Objective Project Indicator
Objective Project Indicator
Objective Project Indicator
Objective Project Indicator
Objective Project Indicator
© Friedag 2011 55
The most important things:
Don‘t look for perfect solutions!
Delegate responsibilities and competences, demand and support consequence!
Organise the things that can be already done.
The sooner the first success appear, the greater the acceptance of Balanced Scorecard will be.
Projects supporting the implementation of BSC
Let us start, there‘s a lot of work ahead of us!Let us start, there‘s a lot of work ahead of us!
© Friedag 2011 56
having objectives only is not enough – we have to want to do it !
assign clear responsibilities
achieve early wins
develop adjuvant rituals
train consequent leader behaviour
pay attention: time is a critical resource
- time cannot be stored
- each process needs sufficient timing
- point in time as important as the period of time
… and organize active doing
© Friedag 2011 57
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projectsV. Reporting with the
Balanced Scorecard
V. Reporting with the
Balanced Scorecard
VI. Arrange the BSC into the process of leading
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
© Friedag 2011 58
V. Reporting components of the BSC
Project-indicators
Indicators of the BSC-house
strategic and operational indicators for internal control
strategic and operational indicatorsfor external reporting
Leadership-Scorecard Reporting-Scorecard
© Friedag 2011 59
Reporting with the Leadership-Scorecard – what do we do ?
© Friedag 2011 60
Development of potentialities Exploitation of potentialities
Reporting - Scorecard
Main corporate indicators (Development and exploitation of potentialities)
Early
indi
cato
rs
Late
indi
cato
rs
© Friedag 2011 61
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
V. Reporting with the
Balanced Scorecard
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
VI. Arrange the BSC into the
process of leading
VI. Arrange the BSC into the
process of leading
© Friedag 2011 62
Strategy
Leading-
Scorecard
Teamobjectives
Reporting-
Scorecard
Operational
objectives
Sustainable success of
the organizationActing
TransparencyEach area defin
es for it
self how th
ey
can support the vision
VI Arrange the BSC into the process of leading
© Friedag 2011 63
Live the Balanced Scorecard !
Integrate all employees
- What divisions are relevant strategically ?
- Where are different approaches needed in order to achieve the vision ?
- Set a main focus
- Develop and integrate a communication concept
- Use indicators to control
- Establish the Balanced Scorecard in the reporting
- What can be dispensed in the reporting ?
Arrange the BSC into the leading process
© Friedag 2011 64
Diffusion of the BSC into the companyIdentifikations-Verein für die Region
Wir steigen in die Liga auf
TabellenplatzIdentifikations-Verein für die Region
Wir steigen in die Liga auf
TabellenplatzIdentifikations-Verein für die Region
Wir steigen in die Liga auf
Tabellenplatz
BonitätInvestoren
Innenfinanzkraft
KontakteRegionTreffen
QualifikationMitarbeiter
Fortbildungsquote
ImageFans
Fanclubs
EngagementSpieler
Trainingspunkte
mehr EinnahmenMerchandising /
BrandingUmsatzpotenzial
mehr MitgliederMitglieder-Wachstum
Mitglieder i. Verein
mehr ZuwendungNachwuchs-
förderungTrainerquote
ZielStrategische
ThemenKennzahl
BonitätInvestoren
Innenfinanzkraft
KontakteRegionTreffen
QualifikationMitarbeiter
Fortbildungsquote
ImageFans
Fanclubs
EngagementSpieler
Trainingspunkte
mehr EinnahmenMerchandising /
BrandingUmsatzpotenzial
mehr MitgliederMitglieder-Wachstum
Mitglieder i. Verein
mehr ZuwendungNachwuchs-
förderungTrainerquote
ZielStrategische
ThemenKennzahl
En
twic
klu
ng
sge
bie
te(P
ers
pe
kti
ve
n)
Identifikations-Verein für die RegionWir steigen in die Liga auf
TabellenplatzIdentifikations-Verein für die Region
Wir steigen in die Liga auf
TabellenplatzIdentifikations-Verein für die Region
Wir steigen in die Liga auf
Tabellenplatz
BonitätInvestoren
Innenfinanzkraft
KontakteRegionTreffen
QualifikationMitarbeiter
Fortbildungsquote
ImageFans
Fanclubs
EngagementSpieler
Trainingspunkte
mehr EinnahmenMerchandising /
BrandingUmsatzpotenzial
mehr MitgliederMitglieder-Wachstum
Mitglieder i. Verein
mehr ZuwendungNachwuchs-
förderungTrainerquote
ZielStrategische
ThemenKennzahl
BonitätInvestoren
Innenfinanzkraft
KontakteRegionTreffen
QualifikationMitarbeiter
Fortbildungsquote
ImageFans
Fanclubs
EngagementSpieler
Trainingspunkte
mehr EinnahmenMerchandising /
BrandingUmsatzpotenzial
mehr MitgliederMitglieder-Wachstum
Mitglieder i. Verein
mehr ZuwendungNachwuchs-
förderungTrainerquote
ZielStrategische
ThemenKennzahl
En
twic
klu
ng
sge
bie
te(P
ers
pe
kti
ve
n)
strategic operationalearly late
Identifikations-Verein für die RegionWir steigen in die Liga auf
TabellenplatzIdentifikations-Verein für die Region
Wir steigen in die Liga auf
TabellenplatzIdentifikations-Verein für die Region
Wir steigen in die Liga auf
Tabellenplatz
BonitätInvestoren
Innenfinanzkraft
KontakteRegionTreffen
QualifikationMitarbeiter
Fortbildungsquote
ImageFans
Fanclubs
EngagementSpieler
Trainingspunkte
mehr EinnahmenMerchandising /
BrandingUmsatzpotenzial
mehr MitgliederMitglieder-Wachstum
Mitglieder i. Verein
mehr ZuwendungNachwuchs-
förderungTrainerquote
ZielStrategische
ThemenKennzahl
BonitätInvestoren
Innenfinanzkraft
KontakteRegionTreffen
QualifikationMitarbeiter
Fortbildungsquote
ImageFans
Fanclubs
EngagementSpieler
Trainingspunkte
mehr EinnahmenMerchandising /
BrandingUmsatzpotenzial
mehr MitgliederMitglieder-Wachstum
Mitglieder i. Verein
mehr ZuwendungNachwuchs-
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strategic operationalearly late
contribution
© Friedag 2011 65
I. Identification of objectives
(Mission, vision, leading indicators)
II. Develop strategic
action frame
III. Complete action frame
with actions (collect ideas)
IV. Bundle actions into
strategic projects
V. Reporting with the
Balanced Scorecard
VII. Organize learning process
VII. Organize learning process
Communication
Steps to a BSC-development and -implementation
VI. Arrange the BSC into the
process of leading
© Friedag 2011 66
assign specific authority and responsibilites to the indicators
learn from the cause-effect-chain
permit, that strategic objectives may be changed
keep on going to discuss the strategic objectives
VII Organize learning process
© Friedag 2011 67
The balanced scorecard puts strategy – not control – at the center
___________________
Kaplan / Norton (1992)
The balanced scorecard puts strategy – not control – at the center
___________________
Kaplan / Norton (1992)
© Friedag / Lewandowska 2008 68
01 Introduction
02 The bases of securing the company’s future
03 What is a BSC ?
04 Approach for an objective system
05 OAI– strategic actions
06 Organising the work
07 Conclusions
Strategy development and implementation with the Balanced Scorecard
Agenda
68© Friedag 2011
© Friedag 2011 69
Everyone in the company knows his future
All stakeholder aim jointly in one direction
Limitation on less, on the fundamental things for the future
Better rating (Basel II)
Better results in the EFQM-Process
better operating profits as a base of sustainability
Benefits of safeguarding the company with the help of the Balanced Scorecard
© Friedag 2011 70
Leading with joint and clearly defined operative and strategic objectives
By communication we achieve thinking, responsibility, objective-orientated action of all of our employees and partners
Better transparency creates confidence at internal and external partners
Conclusion
more successful because of strategy developemt and implementation with the help of Balanced Scorecard ?
Strategy is the first task of leaders !Strategy is the first task of leaders !
© Friedag 2011 71
"Balanced Scorecard is more than a performance measurement system”
Friedag / Schmidt
"Balanced scorecard is management, not measurement"
Kaplan / Norton
Fazit
balanced scorecard transforms strategy into action
balanced scorecard transforms strategy into action
© Friedag 2011 72
Welcome to the Future!
Strategydevelopment and -implementation with the
Balanced Scorecard [BSC]