Transcript Balanced Scorecard: linking strategic planning to

Balanced Scorecard:
linking strategic planning to
measurement and communication
Gulcin Cribb and Chris Hogan
Bond University, Australia
OBJECTIVES
 Discuss how BSC methodology can facilitate
linking a library strategic plan to that of the parent
entity
 Examine the process of identifying performance
measures
 Examine cause-effect relationships between
measures
 Present Bond University library as a case study
Bond University
http://www.bond.edu.au
Bond University
http://www.bond.edu.au
Balanced Scorecard (BSC)
 Devised to overcome shortcomings of
previous systems
 Four Perspectives:




Customer - How do customers see us?
Internal Business - What must we excel at?
Innovation and Learning - How can we
continue to improve?
Financial - How do we look to stakeholders?
Aims of Bond’s BSC
 To enable the measurement of all critical
activities
 To provide a strategic management
system to monitor implementation of the
strategic plan
 To facilitate communication with all
stakeholders in particular with staff
Bond University’s Balanced
Scorecard
A Balanced Pathway to Development
Customer Perspective
Objectives Measures Targets
How do our
customers see
us?
Internal Business
Objectives Measures
What must
we excel at?
Innovation and Learning
Targets
Mission, Vision
and Strategic
Goals
Financial Perspective
Objectives Measures Targets
How do we look
to
stakeholders?
How can we
continue to
improve and
create value?
Objectives Measures
Targets
In the beginning….
 Strategic plans, lots of stats collected
 Are we doing things right? (How) - process
To
 Are we doing the right things? (What) outcome
 Holistic strategic management system
linked to the University’s BSC
 Cascaded to all levels and units
Then…


What processes must function effectively
to achieve the things stakeholders regard
as important - objectives
What information could be collected to
help judge the degree to which they are
operating effectively -measures
Cause-effect linkages


How individual staff members and teams
help contribute to the overall outcomes
Connecting the desired outcomes with the
drivers of results


E.g. shelving and student retention;
Information literacy training and excellence in
teaching, learning and research
Objectives, measures and targets



Large numbers of objectives
Challenge of culling them
Measures





Quantifiable
Easily understood
Relevant
Inclusive
Targets for each of the measures

E.g. Shelving turnaround times, number of unfilled
document delivery requests
Customer Perspective
Objectives
Enhance customer
satisfaction
Measures
Customer satisfaction
survey, suggestion box
focus groups
Enhance
Comments and
communication and suggestions received
collaboration
Library involvement in Uni
wide groups
Ensure customers’ Number of irritants or
awareness of
gaps reported
quality resources
Take-up rate
Enhance Library’s
Library staff
contribution to
representation in
university
University-wide activities
marketing
Number of school visits
Number of Alumni
borrowers/Associate
borrowers
Targets
Improve
and
monitor
Maintain or
improve
Monitor
and reduce
Increase
Maintain or
increase
Internal Business Perspective
Objectives
Measures
Continuous
improvement
Meeting service standards/charter
Increase
e.g. Shelving turnaround times
Customer response times
Reduce
Percent unfilled document delivery requests
Staff costs spent on processing
Number of new products, new publications Increase
and services introduced
Improved product
range & service
development
Improved
availability of
course materials
Cost effective
implementation of
information skills
Targets
Percentage of required and recommended
materials available on the shelves
Increase
Staff formal training hours
Attendees per staff member
Attendees at orientation tours
Increase
Innovation and Learning
Objectives
Measures
Targets
Recruit, motivate
and develop
highest quality staff
Information skills
training for
academics and
students
Library and
information
resources,facilities
and services
Percent of budget spent on
staff development
Staff satisfaction index
Quality of student
assignments
Research publications
Successful research grants
Library budget as a percent of
the University budget
Increase
Increase
Maintain or
increase
Financial Perspective
Objectives
Measures
Targets
Cost effective
allocation of
resources
Improved value for
money
Acquisitions expenditure as a
percent of staff costs
Increase
Active borrowers
Usage of resources, services
Percent items used within one
year of acquisition
Performance of
vendors/suppliers
Increased income
Income from sources other
from non-University than the university
sources
Maximise asset
Efficiency and effectiveness in
utilisation
the use of facilities, space,
services, systems and
resources
Increase
Improve
Monitor
Increase
Increase
Adoption





Linking the BSC to a set of initiatives and
projects
Each project with its own set of objectives,
owners, timelines and targets
Review – three times a year
Annual review by all staff – reprioritisation
Team and individual staff adoption of their
own BSCs
Issues






Time-consuming
Takes a long time to cascade to all levels
Needs to be driven both top down and bottom
up
Quantitative measures – culture of libraries
Need to eliminate non-strategic initiatives and
objectives
Linking budgeting to the strategy development
Conclusion







BSC provided a way of articulating what, why
and how well aspects of our plan and how the
plan complements the University strategic plan
Ease of integration into all aspects of activities
Another tool, methodology
A strategic management system
Tool to communicate with the stakeholders
Tool to help achieve continuous improvement
Journey, not a project
Bond University
http://www.bond.edu.au
[email protected]
[email protected]