Sunday, March 29, 2015

Strategy, The Balanced Score Card, and Performance Management

After spending these past two weeks of this class and all of our readings, I see how important it is to have a clear business strategy. I remember when I started at my current company and began to learn about and manage our business unit balanced score card. No one knew what its intent was and why we were doing it. This was just something that we had to do by a specific deadline, just another daunting task that no one wanted to do so they passed on to the new girl. All this balance score card consisted of was employee headcount (I work in HR), turnover, new hires and terminations, and a couple other numbers on who we had working for us. After reading “The Balanced Scorecard” by Kaplan and Norton, I found that our “balanced score card” really wasn’t a balanced score card. It did not measure the four basic question presented in this article; how customers saw us, what we must excel at, can we continue to improve by innovating and learning, and how do our stakeholders view us financially. It was not in line with our strategy and, to be honest, to this day I do not even know what our strategy is. Eventually, after about 1 year our balanced score card went away.
There is so much effort and focus given to our personal performance management and the need for measurable goals that pertain to the aspects of the business unit that we personally manage. For me personally my goals are aligned with customer service, how I excel in areas of my work focusing on how I can improve that provide specific measurable for each area of focus.   This has balanced my work and how I manage my efforts and clearly shows me what I need to work on and what I do well. I feel that if we implemented a balanced score care across our organization it would benefit us internally as well as the work we do with our customers. We are currently experience our highest turnover yet and have encountered internal equity issues. If we implemented a balanced score card it would open our eyes to what needs to be done internally as well as how our customers view. By doing this I feel that it could lead to a more unified organization of happy employees working toward the greater good of the organization, much like what happened with the City of Charlotte.
I felt that the City of Charlotte is a great example of implementing and building the balanced score card into their everyday efforts. With all of the changes, they stayed true to the mission and vision while re-creating an organization based on their core ideologies which was measurable through the balanced score cared. I feel that my current organization has the potential to implement a balanced score card across our very diverse business units in order to have the core ideologies, vision, and strategy at the forefront.