(Part 1) | BEGINI TAHAP MENYUSUN BALANCED SCORECARD

Rakhmat Robbi

26 Apr 202005:02

Summary

TLDRThis video script discusses the concept of the Balanced Scorecard in the context of strategic, performance, and animal resource management. It outlines the evolution from traditional to modern strategic management, emphasizing the importance of strategy mapping to ensure all employees understand and align with company strategy. The script also covers how to create a strategic map, set strategic targets, identify ideal KPIs, and the impact of an effective Balanced Scorecard on organizational change.

Takeaways

🐘 The video discusses the concept of the 'Balanced Scorecard', a tool used in performance and strategic management.
📈 It introduces the relationship between strategic management, performance management, and the Balanced Scorecard.
📚 The video will cover the general framework of the Balanced Scorecard and how it's commonly used in organizations.
🛠️ It will guide viewers on how to create a strategy map within the Balanced Scorecard framework.
🎯 The process of setting strategic objectives using the Balanced Scorecard will be explained.
📊 The video will teach how to identify ideal KPIs (Key Performance Indicators) and targets for the Balanced Scorecard.
🏗️ It will discuss the importance of building an ideal Balanced Scorecard and its impact on organizational change.
🚀 The video will cover how to formulate strategic initiatives within the Balanced Scorecard.
🔍 The Balanced Scorecard needs to be cascaded down to various organizational functions for comprehensive understanding and implementation.
🌐 The video will also touch on the concept of 'strategic learning and unlearning' in the context of the Balanced Scorecard.

Q & A

What is the main topic discussed in the video?
-The main topic discussed in the video is the concept of the Balanced Scorecard, its relation to strategic management, performance management, and how it is utilized in organizations.
What are the traditional four stages of strategic management mentioned in the script?
-The traditional four stages of strategic management mentioned are: 1) Analyzing the strategic environment (both external and internal), 2) Formulating strategy, 3) Executing strategy, and 4) Evaluating strategy.
Why is there a need for a fifth stage in modern strategic management?
-The fifth stage is added to modern strategic management to address the shortcomings of the traditional four stages, particularly to ensure that all employees have a clear and unified understanding of the company's strategy and to communicate each employee's role in supporting the strategy before execution.
What is the purpose of the Balanced Scorecard?
-The purpose of the Balanced Scorecard is to translate high-level strategy into more specific, actionable terms that align with the overall vision and goals of the organization.
What does the script suggest as the first step in creating a Balanced Scorecard?
-The first step in creating a Balanced Scorecard, as suggested by the script, is to understand the strategic management and performance management in relation to the Balanced Scorecard.
How does the script define the general framework of a Balanced Scorecard?
-The script defines the general framework of a Balanced Scorecard as a tool that helps in mapping out the strategy, setting strategic targets, and identifying ideal KPIs (Key Performance Indicators) and targets.
What is the significance of mapping out a strategy in a Balanced Scorecard?
-Mapping out a strategy in a Balanced Scorecard is significant because it helps to ensure that all employees have a common understanding of the company's strategy and their role in supporting it.
What is the role of KPIs in the Balanced Scorecard according to the script?
-KPIs in the Balanced Scorecard play a crucial role in identifying ideal performance indicators and setting targets that align with the strategic objectives of the organization.
Why is it important to understand the impact of an ideal Balanced Scorecard on an organization?
-Understanding the impact of an ideal Balanced Scorecard on an organization is important because it helps to recognize its influence on organizational change and its effectiveness in achieving strategic goals.
How does the script suggest translating the Balanced Scorecard to organizational functions?
-The script suggests that the Balanced Scorecard should be cascaded down to the various functions within the organization to ensure it is understood and adopted by all functions.
What is the final step discussed in the script regarding the implementation of the Balanced Scorecard?
-The final step discussed in the script regarding the implementation of the Balanced Scorecard is understanding how to conduct a 'cascade' and 'drill-down' within the Balanced Scorecard to ensure it is effectively implemented at all levels of the organization.

Outlines

00:00

📈 Introduction to Balance Scorecard

The speaker, Robby, welcomes the audience to the video and introduces the topic of the Balance Scorecard. It is mentioned that those familiar with human resources management or performance management will recognize the term. The video will discuss the Balance Scorecard in relation to strategic performance management. The speaker outlines the agenda for the video, which includes a brief discussion on strategic management, performance management, and how they relate to the Balanced Scorecard. The video will then delve into the general framework of the Balanced Scorecard, how to create a strategic map within it, how to set strategic targets, and how to identify ideal KPIs and targets. The discussion will also cover the importance of building an ideal Balanced Scorecard and its impact on organizational change.

Mindmap

Keywords

💡Balanced Scorecard

A Balanced Scorecard is a strategic planning and management tool used to track performance and measure the effectiveness of an organization's strategic objectives. It provides a comprehensive view of organizational performance by considering multiple dimensions such as financial, customer, internal processes, and learning and growth. In the video, the Balanced Scorecard is the central theme, with discussions on its relationship with strategic management and performance management.

💡Strategic Management

Strategic Management refers to the process of setting an organization's long-term goals, defining actions to achieve these goals, and allocating resources to carry out the actions. It involves strategic planning, execution, and evaluation. In the script, strategic management is discussed in the context of evolving from four to five stages, with the addition of strategy mapping to improve strategy implementation.

💡Performance Management

Performance Management is a process that measures, evaluates, and develops the performance of employees and departments in an organization. It aligns individual and team goals with the organization's overall objectives. The script mentions performance management in relation to how the Balanced Scorecard can help in defining and tracking performance indicators (KPIs).

💡Strategy Mapping

Strategy Mapping is a technique used to visually represent an organization's strategy. It translates high-level strategy into actionable measures and objectives. The script highlights the importance of strategy mapping as a new stage in modern strategic management, aimed at providing a clear and unified understanding of the company's strategy among all employees.

💡KPI (Key Performance Indicator)

A KPI is a quantifiable measure used to track performance against specific objectives. It helps organizations assess their success in achieving their targets. In the video, KPIs are discussed as part of the Balanced Scorecard, where they are identified and set as ideal targets to measure performance.

💡Strategic Initiatives

Strategic Initiatives are significant actions or projects that an organization undertakes to achieve its strategic goals. The script mentions understanding how to formulate strategic initiatives within the Balanced Scorecard framework to drive organizational change.

💡Organizational Change

Organizational Change refers to the transformation that occurs within an organization's structure, processes, or culture. The script discusses the impact of an ideal Balanced Scorecard on organizational change, emphasizing its role in facilitating and managing such transformations.

💡Execution

In the context of the script, Execution refers to the phase where the formulated strategy is put into action. It is the third stage in modern strategic management, following strategy formulation and mapping. Effective execution is crucial for realizing the goals set out in the strategy.

💡Evaluation

Evaluation in strategic management is the process of assessing the success of implemented strategies. It is the final stage in the modern strategic management process described in the script, where the outcomes are measured against the set objectives to determine the effectiveness of the strategy.

💡Internal Processes

Internal Processes are the systems, procedures, and routines an organization uses to produce its goods and services. In the Balanced Scorecard, internal processes are one of the four perspectives that help organizations to focus on improving the processes that create value for customers.

💡Learning and Growth

Learning and Growth perspective in a Balanced Scorecard refers to the capabilities and conditions that sustain an organization's ability to change and improve. It includes employee training, cultural aspects, and technological systems that support the organization's strategic goals. The script touches on this as part of the comprehensive view provided by the Balanced Scorecard.

Highlights

Introduction to the concept of Balance Scorecard in the context of animal resources management or performance management.

Explanation of the term 'Balance Scorecard' and its significance in modern performance management.

Discussion on the relationship between strategic management, performance management, and the Balance Scorecard.

Overview of the general framework of the Balance Scorecard.

Introduction to the process of creating a strategic map within the Balance Scorecard.

Techniques for formulating strategic targets within the Balance Scorecard.

Identification of ideal Key Performance Indicators (KPIs) and targets for the Balance Scorecard.

Importance of building an ideal Balance Scorecard from strategic mapping to determining KPIs and targets.

Impact of an ideal Balance Scorecard on organizational change.

Techniques for formulating strategic initiatives within the Balance Scorecard.

Necessity of translating the Balance Scorecard into organizational functions for comprehensive understanding.

Discussion on the concept of cascading the Balance Scorecard to align with organizational goals.

Techniques for conducting cascading and linking within the Balance Scorecard.

Introduction to strategic management, emphasizing the importance of analyzing strategic environments.

Explanation of the process of formulating strategies to address future challenges.

Challenges in executing strategies due to general and multi-interpretive nature of strategies.

Modern strategic management updates the traditional four stages to five, including strategy mapping.

Purpose of strategy mapping in modern strategic management.

The five stages of modern strategic management: analysis, formulation, mapping, execution, and evaluation.