Balanced Scorecard - Introduction Kaplan and Norton: Using the Balanced Scorecard as a Strategic Management System.

Where are you? Where are you going? How are you going to get there?

What goals have been set? How are we performing with respect to goals? Performance How is performance defined? Specifically, how do WE define performance? How is performance measured? Specifically, how do WE measure performance? What goals have been set? How are we performing with respect to goals? There is no standard definition of performance. We can only define it in our context, our resources, our abilities, our threats.

Key Insight about Performance Can’t we just look at the size of a club to measure success? Can’t we just look at our bank account to measure success?

The BSC is Four Key Perspectives Past/Present Future Financial Membership Internal Processes Learning and Growth These four perspectives assess future performance requesting that you do this at your Feb. meeting

Balanced Scorecard Perspectives Financial Viability Learning & Growth Membership Internal Processes To succeed financially, what is our fundraising and membership strategy supporters? To achieve our vision, how can we recruit, retain and involve members? To achieve our vision, how we will sustain our ability to change and improve? To maintain a healthy club, what processes must we adapt? Vision & Mission Take a moment and look at the four perspectives, all placed in the context of our vision and strategy. All Balanced. Also note the interactiveness of the perspectives – financial affects internal, affects membership, learning and growth affects membership, affects internal processes. And all of those affect and are affected by Vision and Strategy. Also note that there is a key measure expressed within each structure – Membership – to achieve our vision, how should we appear to our members? etc

Balanced Scorecard Perspectives Internal Processes – Club Leadership Objectives Recruit new leaders for Board Positions Targets One new Treasurer, One new CS, One new VP Initiatives Monthly Mentoring Training

The Scorecard Objectives Targets Membership Initiatives Increase Membership in 2017 Targets Add one new member each month Initiatives Open House in Jan Direct Mail in Feb Attend a networking event every mo. Imbedded within each element is a table with four aspects – Objectives, Measures, Targets and Initiatives. Objectives – what do we want to accomplish, Measures – how will we accomplish this, targets – and Initiatives, what are we going to do to achieve the objective and hit the target. This is the Scorecard

Balanced Scorecard Perspectives Financial Objectives Cover cost for five people to attend MFRW Spring meeting Targets $300 Initiatives Seek a sponsor, conduct a fundraiser

Balanced Scorecard Perspectives Learning & Growth Objectives Active usage of Facebook Targets Two posts per week Initiatives Facebook training in Jan Phone support