Download - Balanced score card
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Subject: Quality ManagementFaculty of Business AdministrationGroup 6-KITT
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CONTENT
I. Introduction
II. Purpose and Benefit
III. Philosophy
IV. The principle of application
V. The way for Applying
VI. Applicant for BSC in Vietnam
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I. INTRODUCTION
BALANCED SCORECARD
Who?
Robert S. Kaplan
David Norton
When & Where?
Starting from 1990,
now is over the world.
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I. INTRODUCTION
MISSION STRATEGY
FINANCE
Objective Measure Target Initiative
INTERNAL PROCESSESLERNING AND GROWTH
CUSTOMER
Objective Measure Target Initiative
Objective Measure Target Initiative
Objective Measure Target Initiative
What?
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I. INTRODUCTION
Why?“3 in 1” : • One of the measuring performance system• One of the communication tools (or communication)• One of the managing method of The Effective Strategy within the organization. How?Individual: interpret and implement The Effective Strategy in order to improving the performance and measuring the working productivity. Organization: improve treatment regimes poisoning, allocate logically human resources.
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II. PURPOSE AND BENEFITS
Purpose
Building a scorecard system : Perspective, Objective,
Indicator, Target, Initiative of each person and each
department
=> carry out, measure and manage the implementation
of organizational strategy
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II. PURPOSE AND BENEFITS
• Setting goals, targets appropriate with the general strategy of the organization through the scorecard system
• Construction and adjustment actions of the organization by the measurement results by Scorecard
• Expressing clearly, briefly strategy to all levels => share information, promote a spirit of co-ordinates
• Overcoming the limitations of traditional methods: long cycles, not specified the problem, allocate resources disproportionately, only the short-term results
Benefit
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II. PURPOSE AND BENEFITS
Benefit• Solve four major hurdles in the strategy's implementation: vision barriers, human barriers, resource barriers and management barriers
• Accurately assess the results of each level => preferential treatment policies, additional human resources
• Creating a scientific basis for the planning and development of intangible: strategy training, development of business knowledge, Optimize Value management elements of internal processes
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• “Performance should be measured by
people who create it”, not just be measured
by someone else.
• Each person is associated with one another
and with the overall strategy of the
organization according to the principle of the
“cause and effect” theory. This is the basis for
interpreting a common strategy into
objectives for each person.
III. PHILOSOPHY
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III. PHILOSOPHY
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IV. THE PRINCIPAL OF APPLICATION
● The effective relations with staff and with other
stakeholders (unions, distributors, major customers).
● Empower staff appropriately
● Links Scorecard system with oriented strategy of the
organization chart
● Combined Measurement Assessment, Planning and
Performance Improvements to management
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IV. THE PRINCIPAL OF APPLICATION
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V. THE WAY FOR
APPLYING
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• Customer Values• Organization Pain• Organization Values• Vision & Mission
• Customer Values• Organization Pain• Organization Values• Vision & Mission
STEP1: ASSESSMENT
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STEP1: ASSESSMENT
WHAT ?• Mission?• Vision ?• Core value ?• Goals ?
HOW ?
• SWOT analysis, Porter’s Five Forces, Competitive analysis, Interview.• Consultation of the Executive (Executive team)
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STEP2: STRATEGY PLANNING
ThemesStrategic ResultsStrategies
ThemesStrategic ResultsStrategies
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STEP2: STRATEGY PLANNING
WHAT ?
HOW ?
Platform strategies to implement mission and vision of the company
• 3 to 5 medium-term strategies (2-4 years)• Should be different from competitors. Ex: Effective quality training, customer service, maintain a good relationship with the Supplier,...
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STEP3: OBJECTIVE
• Strategy Elements
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STEP3: OBJECTIVE
WHAT ?
HOW ?
The objectives of the company to implement the proposed strategies
Each objective is reviewed base on 4 perspectives:
• Finance• Customer• Internal process• Learn & Growth
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STEP3: OBJECTIVE
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STEP4: STARTEGY MAP
• Performance Drivers• Enablers• Causal Links
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STEP4: STARTEGY MAP
WHAT ?
HOW ?
Strategic mapping of the principle levels from top to bottom starting from the strategy of the organization
Objectives will be reviewed to find the relationship between them.Causal relationship: cause and effect link
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STEP5: PERFORMANCE MEASURES
• Performance Measures• Targets• Baselines
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STEP5: PERFORMANCE MEASURES
WHAT ?
HOW ?
Measures to evaluate the performance of the objective+ Lagging Indicator: outcome- to be achieved+ Leading Indicator. driver- to achieve that outcome
With numerical targetsEx: Objective: "Customer satisfaction“→ Measure1: Number of customer complaints(lagging)- 30→ Measure 2: counselor working hours with clients(Leading)-120
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STEP6: INITIATIVES
• New Projects
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WHAT ?
HOW ?
STEP6: INITIATIVES
- Defining initiatives to complete each objective and measure
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STEP7: AUTOMATION
• Software• Performance Reporting• Knowledge Sharing
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STEP7: AUTOMATION
WHAT ?
HOW ?
Everything (or most things) should be implemented in a software-based automation specialist for BSC: +Data collection, to test reports, chart review …
Software, Performance Reporting, Knowledge sharing
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CASCADE
• Alignment• Business & Support Unit Scorecards
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WHAT ?
HOW ?
CASCADE
Transferring content in the BSC Organization down to every employee in the enterprise to construct: + BSC Department level--> BSC Unit Level--> BSC Personal Level
Building a BSC at each level which suit, consistent with the strategy map of that level
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EVALUATION
• Performance Results• Revised Strategies
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EVALUATION
WHAT ?
HOW ?
Assessing the new BSC’s omission which need to amend or even remove in order to build a BSC product most suitable for company
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• Customer Values• Organization Pain• Organization Values• Vision & Mission
• Customer Values• Organization Pain• Organization Values• Vision & Mission
• Themes• Strategic Results• Strategies
• Software• Performance Reporting• Knowledge Sharing
• Alignment• Business & Support Unit Scorecards
• Performance Results• Revised Strategies
• Strategy Elements
• Performance Drivers• Enablers• Causal Links
• Performance Measures• Targets• Baselines
• New Projects
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V. APPLICATION OF BSC IN VIETNAM
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V. APPLICATION OF BSC IN VIETNAM
“For a more beautiful and healthier life”
Vision
Mission
“DHG Pharma always provides high quality products and services to satisfy the aspiration for a more beautiful and healthier life.”
INTRODUCTION
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V. APPLICATION OF BSC IN VIETNAM
Importance milestones:
-1996: The first year that DHG Pharma’s products was elected as “Vietnam High Quality Goods”, the factories complied with the GMP standard, being the leader of Vietnam pharmaceutical industry until now.
- 2004: Equitization
- 2006: “DHG” being listed on HOSE
INTRODUCTION
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V. APPLICATION OF BSC IN VIETNAM
THE APPLICATION OF BSC IN DHG PHARMA
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THE APPLICATION OF BSC
Economic situation:
The financial crisis in 2008
• Input materials for pharmaceutical production, largely
due to imports
• Exchange rate fluctuation
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THE APPLICATION OF BSC
The need to have a model of strategic planning and control?
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THE APPLICATION OF BSC
Finance and investment
What else we can do with the current production facility?
---------------------
Personnel
How can we manage what we have now more effectively?
---------------------
Sales and marketing
How can we develop an effective marketing plan?
---------------------
Production and products
Which plans to improve the internal process?
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Sales and marketing (Customer)
+ Minimizing the maximum competitive advantage,
+ Focusing on the development of key product groups,
+ Focus on traditional customer groups.
+ Construction while enhancing the brand image in the minds of consumers through media activities, social activities with criteria to mini
+ The settlement of debts, minimize costs and optimize efficiency.
THE APPLICATION OF BSC
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Finance and investment (Finance)
+ Reasonable timing for storage of raw materials,
+ The balance between exchange rates and raw material prices,
+ Review and standardize the investment projects to refer to
carrying out the project really necessary and effective.
THE APPLICATION OF BSC
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+ construct standard processes to reduce wastage, reduce costs;
+ organize activities to stimulate creativity in order to increase productivity and improve product’s quality.
Personnel (Learning and Growth)
+ strengthen, mobilize additional personnel for sales line,
+ enhance training key staff and organize a series of training programs for employees.
THE APPLICATION OF BSC
Production and products (Internal Processes)
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THE APPLICATION OF BSC
Results
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MISSION ROSTERSTT MSSV Tên Nhiệm Vụ
1 71006087 Nguyễn Ánh Chiêu Dương Conclusion and content of part II- presenting
2 71006140 Đoàn Doãn Ngọc Trinh PowerPoint- Presenting
3 71006055 Trần Thị Quỳnh Như The Way of application (Steps)
4 71006148 Nguyễn Thị Hải Yến Introduction and conlusion
5 71006080 Nguyễn Diệp Ngọc Yến Content of part II
6 71006136 Nguyễn Thị Thuỳ Trang Purpose and Benefits
7 71006147 Huỳnh Hải Yến Principal and examples
8 Dương Kim Mai Requirements of method and examples