The Balanced Scorecard is a management tool that can significantly improve implementation of corporate objectives and strategies as well as provide a control and monitoring framework system. It is about creating a business strategy where all the plans fit together in a simple to understand, cause-and-effect chain of events, about setting goals and measuring performance, and about how to communicate to keep everyone in the team up-to-date.
We begin by assessing organisational readiness to implement a corporate performance management system, drawing up corrective action plans based on our findings. Using inputs from any existing documents and from meetings with senior management, we facilitate the process of drawing up a Corporate Destination Statement, Business Themes, and Strategy Linkage Maps ultimately resulting in a Corporate Scorecard.
With a view to aligning all departmental objectives within one performance reporting framework, the Corporate Scorecard is cascaded down to Units and Departments. These departmental scorecards comprise objectives, measures and targets drawn up to achieve overall goals. The main objective is to facilitate change from subjective, unaligned and unmeasured functional targets towards a performance culture which is totally aligned at all levels with corporate strategy.
Individual Performance Contracts
To ensure that all Department Heads and people within their departments are aligned with the corporate goals and objectives, Individual Performance Contracts (IPCs) are drafted to measure KPIs and Measures at an individual level. IPCs developed are then integrated into the performance management system.