How Can I Implement the Balanced Scorecard in HR and IT for a Freight Forwarding Company?

Dear All,

I am in the process of implementing the Balanced Scorecard in my organization. My organization is in the freight forwarding industry. How can I implement the Balanced Scorecard, focusing mainly on Sales, Customer Service, HR, Accounts, and IT personnel?

The implementation involves the following perspectives:
1. Financial
2. Customer
3. Internal Processes
4. Learning & Growth

I would like guidance on how to effectively implement this approach in the HR and IT departments.

Thank you and regards,
Debajyoti

Hi,

PLs see the reply.....

We are often asked for a template of a "model Balanced Scorecard." The truth is there is really no such thing. Each Balanced Scorecard should be customized to match your organizational structure, strategy, and situation.

Still, all Balanced Scorecards should contain these components:

Perspectives -- Groupings of your organization's high-level focus areas (should take all key “"stakeholders" into account).

Objectives -- Critical top-level goals derived from current strategic plan (phrased in short, verb-noun statements, e.g. "improve customer satisfaction".)

Measures -- The best indication(s) that you are on track to achieve each objective (should have no more than 1-3 per objective).

Initiatives -- Time-specific projects (e.g. with defined start- and end-dates) that are separate from, but aligned to, strategic objectives and measures.

A Balanced Scorecard framework can provide:

Focus -- Ensure an organization is doing the right things instead of just doing things right (helps avoid focusing on perfecting a process that has little impact on critical outcomes).

Alignment -- Creates links between and across levels of your organization (particularly helpful to improve an issue that cuts across functional silos).

Accountability -- Across departments and with individuals (identifies what is strategically important, what level of performance is needed, and who is responsible).

Communication -- Translates your high-level strategy into words that are meaningful and relevant throughout the organization.