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Balance Score Card

Ashit Kumar Jain Roll No S- 10 Navtej Singh Roll No N-32 Amit Guri Roll No N -04 Sanjay Kumar Roll No S-59 Amarpreet Singh Roll No S-03

Kotamraju Rajasekhar S-32


Atul Kumar Narula Roll No S-12

The Balanced Scorecard


Definition:

The Balanced Scorecard is a management tool that


provides stakeholders with a comprehensive

measure of how the organization is progressing


towards the achievement of its strategic goals.

The Balanced Scorecard

Actual contents of each perspective need to be tailored to the specific organizational / unit realities, needs and challenges.

BALANCED SCORE CARD


FINANCIAL/REGULATORY To satisfy our constituents, what financial & regulatory objectives must we accomplish? CUSTOMER To achieve our vision, what customer needs must we serve?

INTERNAL To satisfy our customers and stakeholders, in which business processes must we excel?

LEARNING & GROWTH To achieve our goals, how must we learn, communicate and grow?

Four perspectives of the balanced scorecard


Financial Perspective The financial perspective retains the need for traditional financial data. However it recognizes that the programs, initiatives and change management processes drive the need for measures that reflect the intangible assets of an organization. Internal Perspective The internal business perspective focuses the organization on the processes most critical for achieving customer and financial objectives. The focus is on mission-oriented processes as opposed to support processes as well as the targets and initiatives which ensure best use of resources.

Four perspectives of the balanced scorecard


Customer Perspective The customer perspective considers the world through your customers eyes. In developing metrics, customers should be benchmarked against value propositions which reflect product and service attributes, image or brand and relationships.

.
Learning and Growth Learning and growth relates to individuals and information, but perhaps most importantly to the organization as a whole. Culture, leadership and teamwork, and the alignment and readiness of an organization to meet strategic objectives, leads to successful outcomes.
These perspectives give an organization balance between

internal and external measures, and balance between outcomes results from past efforts and measures that drive future performance.

What are KRAs ?


Key Result Areas or KRAs refer to general areas of outcomes or outputs for which the

department's role is responsible. A typical role targets three to five KRA. Value of KRAs. Identifying KRAs helps individuals: Clarify their roles Align their roles to the organization's business or strategic plan Focus on results rather than activities Communicate their roles purposes to others Set goals and objectives Prioritize their activities, and therefore improve their time/work management Make value-added decisions Description of KRAs Key result areas (KRAs) capture about 80% of the department's work role. The remainder of the role is usually devoted to areas of shared responsibility (e.g., helping team members, participating in activities for the good of the organization).

What is KPI ?
'Key Performance Indicators - KPI'
A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their strategic and operational goals.

KPIs vary between companies and industries, depending

on their priorities or performance criteria.

KEY RESULT AREA


JOB PROFILE: SALES MANAGER

KRAs
Sales Value Goal Budgetary Control Channel Development: Leadership Salesman Training and Development

KPIs
Sales Value Goal :
Grow Business by 25% over LY actual ( 400 Lakh LY13 500 Lakh 2014 ) All Stockist to Grow New Products to Contribute 3% Sale

Budgetary Control
Manage within Gross to Net Grow Business maintain 4.2% budget to Sales Value

KRAs
Channel Development
Add Toothbrush WS 20 Metro towns Add Pharma WS 30 Metro towns Grow toothbrush business by 30%

Grow Small Pack business by 40%


75% to be active every month

Leadership
Example in motivating others

Degree of care, concern and consideration for the needs of subordinates


Welfare of Subordinates

KPIs
Salesman Training and Development
All SSM to undergo training Once in 6 months Productivity to improve should be 50% after training Secondary

business to improve by 40%

Business contribution to be 20% of total business Manager to give feedback on quality of calls / attitude

Forecasting Abilities
Degree of Analytical skills to predict accurately Quality and Certainty of forecasts

Budgetary Control and Cost Consciousness


Degree of monitoring funds and optimum utilization keeping cost in view Economy in Expenditure and Savings

Scale 5

LEADERSHIP - Description Motivates the Gp & gets best possible results Displays very good skills to make others follow him instinctively Mostly sensitive and considerate to the needs of Juniors Goes out of way to cater for the welfare of subordinates

4-4.99 Mostly inspires confidence and enthusiasm in his subordinates with his zeal, personality & example More often than not works energetically & successfully for the good of his subordinates Care to provide all facilities within the available resources on most occasions 3-3.99 Manages to keep the Gp functioning at satisfactory level Feels difficulty in keeping the morale at a high level Feels satisfied in providing minimum facilities to subordinates 2-2.99 Sometimes subordinates feel demoralized and de-motivated when working under him Allots low priority to welfare of subordinates and is insensitive to the needs of juniors 1-1.99 Subordinates mostly feel demoralized and de-motivated when working under him Always allots low priority to welfare of subordinates and is insensitive to the needs of juniors

Scale 5

FORECASTING - Description Possesses excellent analytical skills & uses them fully to come out with accurate predictions Presents high quality and realistic forecasts

4-4.99

Possesses high analytical skills & uses them gainfully & brings out fairly accurate predictions Quality of forecast good Possesses adequate analytical skills & brings out satisfactory predictions Quality of forecast average

3-3.99

2-2.99

Bare limited analytical skills and predictions tend to be inaccurate at times Quality of forecast leaves much to be desired

1-1.99

Lacks analytical skills and gives inaccurate predictions Quality of forecast below standard and unrealistic

Scale 5

BUDGETARY CONTROL - Description Shows intelligent discretion and accuracy in forecasting budget estimates Judicious control of budgetary allocations Highly conscious of cost Substantial savings and economy of expenditure Shows good foresight and anticipation in preparation of budget estimates & demands Good control of budgetary allocations Conscious of cost Shown good savings

4-4.99

3-3.99

More than adequate foresight and anticipation in preparation of budget estimates & demands Adequate control of budgetary allocations Generally aware of cost and strives to control cost
Barely shows the needed anticipation in preparation of budget estimates & demands Seldom shows control of budgetary allocations Often ignores cost Prepares inadequate budget estimates and demands Lapses in budgetary allocations No attention to cost

2-2.99

1-1.99