Strategy Maps and the Balanced Scorecard. Don Breckenridge Jr. President

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1 Strategy Maps and the Balanced Scorecard Don Breckenridge Jr. President

2 The Typical Owner Owners are typically the Rainmakers Rainmakers tend to work FOR the business instead of ON the business. Most don t know how to work ON their business. So how can you work ON taking your business to the next level and building corporate value?

3 The Answer is Strategy Companies with formal strategy execution process in place dramatically outperform companies without it. If you can t describe your strategy, how are you ever going achieve it? You can t measure what you can t describe You can t manage what you can t measure More importantly, how are your employees going to achieve it?

4 Employees Need To Know The Overall Strategy The Initiatives and Objectives to achieve the Strategy Where they fit into the Strategy What Skills and Knowledge they need in order to achieve the Strategy How to Measure Progress toward achieving the Strategy

5 Strategy Maps & Balanced Scorecard Entrepreneurs need a systematic approach to describing, executing and measuring strategy. Strategy Maps are used to clarify and communicate the corporate strategy on one sheet of paper. The Balanced Scorecard is used to measure variables and initiatives that lead you to success in achieving your strategy.

6 Where does strategy start? Customer need Competitive landscape Your competitive offering Mission, Values, Vision, Strategy, etc.

7 How Corporate Value is Created Mission Why we exist Values What s important to us Vision What we want to become Strategy How we re going to get there Strategy Map Visual explaination of the strategy Balanced Scorecard Measures and focus Targets and Intiatives What needs to get done Personal Objectives What each person needs to do Satisfied Shareholders Delighted Customers Strategic Outcomes Efficient and Effective Processes Motivated and Prepared Workforce

8 The 4 Perspectives of a Strategy Map

9 Cause and Effect Financial Perspective Shareholder Value 1. Higher Revenues 2. Lower Costs Customer Perspective Competitive Advantage Low Cost Supplier High Quality, Low Price, Easy Purchase Internal Perspective Process 1. Quality 2. Turnaround Time Learning and Growth Perspective Human Capital 1. Employee Attraction and Retention 2. Employee Readiness and Training 3. Automation through technology

10 Financial Perspective What is financial success to our shareholders? Revenue Growth and Mix Cost Reduction / Productivity Improvement Asset Utilization / Investment Strategy

11 Customer Perspective To achieve our vision, how should we appear to our customers? What is our Competitive Advantage? Variables include: Quality, Time, Cost, Relationship, Brand Image

12 Customer Value Propositions Lowest Cost High quality, low cost, quick service Dell, McDonalds, Southwest Airlines Product / Service Leader First to market, new market segments Intel, Apple Complete Customer Solutions / Customer Intimacy High quality, total solution, customer partnership, retention Ritz Carlton, Northwestern Mutual Insurance System Lock-in High switching costs XM Satellite Radio, Linked-In

13 Customer Perspective

14 Internal Business Perspective To satisfy customers and shareholders, what operations are critical?

15 Overall Operational Process

16 Customer Operational Process Customer Selection Customer Acquisition Production and Delivery of Service and Product Customer Satisfaction Customer Retention Market Share Customer Profitability

17 Internal Perspective Strategy Map Long Term Shareholder Value Financial Perspective Growth Strategy Productivity Strategy Expand Contractor Revenues Expand Direct Placement Revenue Increase Asset Utilization Increase Operational Efficiency Customer Value Proposition Customer Perspective Single source for all staffing needs from executive to temporary placement for the Information Technology Industry. Maintain the largest, up-to-date network of programmer candidates in the U.S. Industry leader in building relationships and providing personalized service by knowledgeable employees who truly care. Brand Image of the most networked IT placement firm in the U.S. through a philosophy of partnering with candidates and employers. Together, these enable us to place the right candidates in the right positions thereby providing necessary resources for customers to achieve their vision. Internal Perspective Innovation Process 1. Understand customers current needs and anticipate future needs 2. Understand candidates current needs and anticipate future needs 3. Prioritize Opportunities 4. Employ third party technology to reach deliver unique products and services Operational Excellence 1. Efficient and Effective Candidate Networking and Management 2. Fast and Accurate Candidate Qualification Process 3. Maximize coverage on all job orders in minimum time 4. Internal routing to recruitment specialists Customer Mgmt Process 1. Attraction 2. Acquisition 3. Retention 4. Growth 5. Advocacy

18 Learning & Growth Perspective Human Capital Information Capital Culture for Continuous Improvement Culture Leadership Alignment Teamwork

19 Full Strategy Map Example

20 What to Measure? You can t manage what you can t measure Lead vs. Lag Indicators Net Income (lag) Open Job Orders (lead) Prospecting Activity (lead) Strategic vs. Operational Indicators Target a new market (strategic) Job Order Coverage Ratio Limit your indicators

21 Building a Balanced Scorecard Perspective Financial Objective Expand Contractor Revenues Expand Direct Hire Revenue Increase revenue per customer Increase customer profitability Improve sales productivity Measure Revenue from Contractors Revenue from Direct Hires Revenue per Customer Profit per Customer Cost of Sales Customer Customer Satisfaction Single Source Supplier Customer Loyalty % Customers Highly Satisfied % Needs Fulfilled % New Customers from Referral Internal Process Customer Selection Customer Acquisition Sourcing Production Target High Volume Customers Screen Unprofitable Customers Acquire New Customers Increase Marketing Efficiency Increase the volume of qualified candidates Maintain Contact with Candidates Increase the % Job Orders Filled Decrease the Time to Fill Quality of Fill # High Volume Customers # Unprofitable Customers Close Ratio; # New Customers Cost per Sale # New Candidates % Candidates contacted Fill Ratio Fill Time % of Placements Terminated Learning and Growth Human Capital Attract and retain top talent Employee turnover Maintain highly skilled talent Training; Testing Information Technology Automate all Processes % of Processes Automated Organizational Create a customer focused environment Customer Survey Capital Create personal goal alignment Employee objectives linked with BSC

22 Strategy Map & Balanced Scorecard Strategy Map Financial Perspective Increased Profitability Increased Placements Additional Customers Customer Perspective Scorecard Basics Largest Candidate Database Best Qualification Process What do we need to achieve? How is the objective measured? What is our goal? What internal initiatives will accomplish the objective? Internal Business Perspective OBJECTIVE MEASURE TARGETS INITIATIVES Identify More Highly Qualified I.T. Candidates Source more IT candidates for evaluation and tracking Number of Candidates per Day 250 New Candidates per Day per Sourcing Agent Employ new sourcing technology in conjunction with overseas recruiters to obtain candidate information. Learning and Growth Perspective Employ ATS, Web and Sourcing technology to Automate, Import and Qualify Candidates

23 The Corporate Balanced Scorecard LONG TERM (STRATEGIC) SHORT TERM (TACTICAL) Vision Mission Objectives Measures Targets Initiatives Milestones Accountable Resources To become the largest staffing firm in the United States. Provide highly qualified candidates to potential employers in a short amount of time. Learning Internal Customer Financial Increase Profitability Largest Staffing Firm Placements Maintain highly trained recruiters Net Income # Branches and Recruiters # Placements % Recruiters with CPC $10 Million Net Income by Branches and 500 Recruiters by ,000 Direct Placements in % by end of 2008 Recruiting campaign for new recruiters Expansion of Sourcing All recruiters to receive training and take exam Task / Action Plan Task / Action Plan Task / Action Plan Internal HR People and $ Sourcing Management Recruiter Management People and $ People and $

24 Personal Balanced Scorecard Financial Customer Operational Learning and Growth

25 Personal Balanced Scorecard LONG TERM (STRATEGIC) SHORT TERM (TACTICAL) Vision Mission Objectives Measures Targets Initiatives To become a Pinnacle Big Biller. Provide highly qualified SQL Server DBA candidates to potential employers. Financial Customer Internal Learning Increase Annual Income Provide fewer but higher quality candidates Improve networking into SQL Server DBA Reach advanced level of DBA knowledge. Annual Compensation $30k per Month Specialize in Submittal to Placement Ratio Avg. 3:1 Ratio SQL Server DBA's # Qualified DBA Contacts SQL Server DBA Testing 350 Candidates by 2009 Advanced Level by 6/2008 Daily Breakfast and Lunch SQL Server Training from XYZ University

26 Working Together Owners and Employees have Shared Goals Owners and Employees can work together on developing the Corporate Strategy, Maps and Scorecards Employee involvement builds buy-in Personal Scorecards should align with the Corporate Strategy Owners need to provide top down enforcement of the strategy

27 End Goal Strategy Map Clarify and communicate your corporate strategy to shareholders, employees and customers. Balanced Scorecard Measure true variables that lead to the success of your strategy. Plan of Strategic Initiatives Identify strategic initiatives that enable you to achieve your strategy.

28 Next Steps Learn More Balanced Scorecard by Kaplan and Norton Strategy Maps by Kaplan and Norton Schedule Time to work ON the business instead of FOR the business.

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