Scorecard Best Practices
Design, Implementation, and Evaluation
1st Edition
Published on 16. November 2007
Book
Hardback
208 pages
978-0-470-12946-3 (ISBN)
Description
Scorecard Best Practices
Design, Implementation, and Evaluation
What if you had a management tool that would give you and your colleagues current information on the health of your organization and where you stand with respect to achieving your corporate goals? What if this tool could also be used by other managers to communicate changes in strategy, align the business units with the changes, and ultimately help to align employee behavior with the corporate strategy?
Scorecard Best Practices: Design, Implementation, and Evaluation is your single-source reference to achieving all of these goals in order to get the most benefit from Scorecards at your organization. This practical guidebook shows you how to turn strategy into performance at every organizational level and includes eight case studies of companies that have successfully implemented the balanced scorecard, a high-level implementation plan, and a best practices considerations checklist.
Useful for CFOs and controllers, this book offers the best practices with pragmatic insights and proactive strategies to effectively employ the Scorecard system at maximum performance. Scorecard Best Practices provides essential information on:
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Best practice organization benefits
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Choosing an appropriate framework
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Establishing motivation
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Aligning measures and employees to organizational goals
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Getting buy-in from top-level management
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Enabling a supportive environment
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Communicating scorecard concepts
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Designing your scorecard system
Both for those familiar with Scorecards as well as those uninitiated with them, Scorecard Best Practices is an easy-to-read, easy-to-follow-and effective-guide that will show you how to go from strategic ideas to world-class performance.
More details
Product info
GB
Edition
1., Auflage
Language
English
Place of publication
Chichester
United Kingdom
Publishing group
John Wiley and Sons Ltd
Target group
Professional and scholarly
Dimensions
Height: 23.7 cm
Width: 15.8 cm
Thickness: 2 cm
Weight
390 gr
ISBN-13
978-0-470-12946-3 (9780470129463)
Schweitzer Classification
Persons
Raef Lawson, PhD, CPA, CMA, is Director of Research for the Institute of Management Accountants (IMA). He was formerly a professor and chair of the Accounting Department at the University at Albany, State University of New York. He has written extensively in the areas of scorecards, activity-based costing, and cost management, and his work has been published in a variety of publications.
Toby Hatch is a Domain Leader for Performance Scorecard and Business Modeling with Hyperion Solutions. Ms. Hatch has been involved with supporting and implementing scorecard systems, performance management solutions, and activity-based management solutions in companies around the world since 1988. Based on five years of research on implementing scorecard systems, she has published numerous articles in various magazines.
Denis Desroches is a Domain Leader in the business performance management field with Hyperion Solutions. Since 1993, he has supported organizations with the selection, implementation, and knowledge acquisition of scorecard, performance management, and activity-based management solutions.
Content
Acknowledgements.
Chapter 1. Introduction.
Shaps Study Overview.
Study Analysis Groups.
Chapter 2. Scorecard Systems Overview.
What Is A Scorecard System?
Attributes Of Scorecard Systems.
Reasons For Implementing (Operational Versus Strategic).
Impetus For A Scorecard System Initiative.
Benefits Of A Scorecard System.
Best Practice Organization Benefits.
Achieving Significant Benefits: International Results.
Use Of Scorecard Systems By Demographic Segment, Size, Industry
What's Next?
Chapter 3. Establishing Motivation.
Background.
Impetus For Implementation.
Use Of Targets.
Linking Performance Measures To Compensation And Rewards.
Aligning Measures And Employees To Organizational Goals.
Advertising Success.
Measures Used.
Software Features Made Available.
Communicating Appropriate Reasons For Scorecard Implementation.
Summary.
Chapter 4. Enabling A Supportive Organizational Environment.
Background.
Have Buy-In From Top Level Management.
Articulate And Communicate The Organizational Strategy.
Define And Communicate The Reasons For And Benefits Of Implementing A Scorecard System.
Align Human Capital To The Strategy.
Have A Strategy Champion To Maintain The Visibility Required To Be Successful.
Have Employees That Accept And Use The System.
Use A Feedback Loop To Understand Progress And Make Changes Where Required.
Suitable Automation.
Eventually Link To The Compensation And Reward Systems.
Use Consultants Appropriately.
Provide Adequate Time To Implement And Realize Benefits.
Have A System That Is Pervasive, But Implemented In Phases.
Summary.
Chapter 5. Design Of A Scorecard System I: The Organizing Framework.
Organizing Framework.
What Is An Organizing Framework And Why Do We Need One?
Popular Frameworks.
Frameworks Typically Chosen.
Industry Example.
Can An Organization Have Multiple Frameworks?
Multiple Frameworks Or Management Initiatives?
Summary.
Chapter 6: Design Of A Scorecard System II: Other Issues
Background.
Ties Between Measures And Organizational Strategy.
Linking Compensation With Performance.
A Pervasive Scorecard System.
Tracking The "Right" Measures.
Does Your Costing System Support Your Scorecard System?
Self-Evaluation Questionnaire.
Summary.
Chapter 7. Implementation Strategies.
Communicating Scorecard Concepts
Selling The Scorecard.
Organization Levels.
Approaches To Implementation.
Impact Of Implementation Approach.
Industry Differences.
Framework And Levels Of Implementation.
Plans For Future Roll-Out.
Updating Scorecards.
Summary.
Chapter 8. Implementation Issues.
Implementation Timeframe And Deadline.
Implementation Timeframe And Reason For Scorecard System Deployment.
Implementation Timeframe And The Approach.
Effect Of Rationale On Implementation.
Number Of Measures.
Time To Implement Scorecard Software.
Use Of External Consultants.
Consultants And Scorecard Automation.
Organizational Buy-In.
Scorecard And Other Performance/Cost Management Tools.
Summary.
Chapter 9. Scorecard Automation.
Need For Automation.
Extent Of Data And Report Automation.
Software Options.
Software Deployment.
Reporting Results.
System Functionality And Features.
System Flexibility.
Data Accessibility.
Summary.
Chapter 10. Best Practice Considerations Checklist.
Best Practice Considerations Checklist.
Appendix. Case Studies.
Suzano Petroquimica.
Fujitsu Services Oy.
First National Bank: Banking Operations.
Hospitality Services Company.
Financial Service Company.
Pfizer.
City Of Boston.
Entertainment Subscription Company.
Glossary.
Index.
Acknowledgments.