Using Productiveness Scorecards to Achieve Business Objectives

Today's economy is evolving, ascending and growing. Managing businesses to maintain pace with these ever evolving economic trends is fast becoming a challenge. It is now becoming important to meet your organization's financial and customer expectations. Newer growth strategies and effective performance measurement systems will have to be developed to measure and manage the productiveness of your employee resources and in turn your organization. This takes a lot of effort and planning. Each resource unit of a business contributes towards its overall success or failure. It is essential that the organization understands the importance of its contributing units.

How it helps you grow. To evaluate an organization's employees contribution helps in deciding whether your resource is an asset to the organization or a liability. Implementing a performance measurement system (such as a balanced productiveness scorecard) is one way in which an organization can assess performance, monitor performance, course-correct performance and align employees' performance with an organization's objectives. Despite the level of the employee, methods have been formulated to analyze growth, estimate the improvement required and make positive changes.

Balanced productiveness scorecard is a productivity measurement system that enables an organization to define its vision and strategy and take appropriate actions. It returns feedback on processes and their outcomes to advance performance and results.

To understand the components of this productiveness scorecard approach called the balanced scorecard approach, we need to identify our operations plan. Operations plan must state the strategy, priorities, areas of responsibility, and critical success factors (CSFs) towards key measurable factors or indicators. It is also important to plan the strategy, deliverables, and performance. Chief plan components include the following elements: Operating plan strategy for understanding why the targets will be met; deliverables to list the performance measurement targets, performance indicators to depict how to meet the target values; organization for understanding the person accountable for those targets.

The components of a productiveness scorecard. An integrated view suggests that key operating productiveness scorecard should include: customer satisfaction, access cost; trouble tickets measure; execution of revenue plan; information management; and process of customer delivery.

Implementing balanced productiveness scorecard requires getting an agreement on deliverables, strategies, key performance indicators and organizational design that aligns to the business process. The output of a balanced productiveness scorecard produces an operating plan that enables decision-makers and employees to identify with their level of responsibility of delivering services. Productiveness measurement should be unbiased and guarantee reliable proven results and meet the goals of your organization because you can't effectively improve what you can't measure effectively.

Balanced productiveness scorecard involves numerous measurement prospects in which the original scorecard covers financial, customer, internal business and innovation and learning prospects. The balanced scorecard is an output of strategy formulation. The goals identified that are critical for an organization can also be considered. The balanced productiveness scorecard merges financial and non-financial measurement of performance on one scorecard.

The success of the balance productiveness scorecard approach owes to the fact that this is a complete tool that aids in understanding the target customers, their requirements, and performance gaps. This tool provides logic to concentrate on creating intelligent capital which was impossible under the long-established performance systems. The balanced productiveness scorecard defines the growth strategy with business. It enables the employees to comprehend strategy and align its objectives to their daily operations.