A Balanced Scorecard case study Executip case study From the Balanced Scorecard (BSC) Design phase To the use of the BSC as the Strategic Performance Management Tool WWW. nexance. com Copyright NEXANCE Ltd. 2001 © December 2001
A quick overview on the Mission & Vision Statements Mission Statement We will revolutionise Business Executives’ Life Experience during their business travels Vision Statement For Business Executives, Executip aims at becoming the Leading Pan European On-screen Portal and Value Added Travel Services Provider Copyright NEXANCE Ltd. 2001 © December 2001
Building the Balanced Scorecard During the Balanced Scorecard Design phase the Management Team will: 1> Set the Objectives that need to be achieved for a successful strategy implementation These objectives are displayed in 4 perspectives with cause & effect links 2> Set the key indicators attached to the objectives In order to set targets, measure progress focus attention (“what gets measured gets done”) and feed back the strategic hypotheses 3> Align the strategic projects with strategic objectives Identify, align and manage the strategic projects portfolio. Those projects are the key medium terms initiatives that will contribute to achieve the objectives 4> Assign responsibilities within your management committee and possibly expand to lower levels in your organisation (especially for projects and indicators) Copyright NEXANCE Ltd. 2001 © December 2001
Notes Internal Processes Perspective Existing project New project Objective I 1: Raise funding in time to support growth forecasts AFR I 2: Increase European geographic coverage ZK I 3: Ensure a high quality editorial content OB Definition Indicator As we expand, we will seek funding from European investors, VCs, strategic partners or private investors, to whom we will demonstrate our thorough understanding of the market, the quality and professionalism of our international team, and the potential quick profitability of our project. We will secure our position in the first six cities covered before expanding our geographic coverage to 18 cities by Dec 2001. Recruitment, management, locations and funding will be the key success drivers behind geographic expansion. Through a network of talented local city managers, we will provide executives with exclusive, independent, valuable insider’s tips. We will set editorial guidelines to ensure that our proprietary content is constantly updated with fresh, accurate, local information and addresses, in a concise style and recognizable touch. Fund raised Project AFR # of new leads in the period Cities coverage JJ OB Content accurary FF Copyright NEXANCE Ltd. 2001 © AFR JJ Content viewed # of new services added Set up Road Show process EE Recruit City Managers Web site monitoring News letter Leisure & travel LL HP OB SW December 2001
Notes People, Learning & Growth Perspective Existing project New project Objective L 1: Build a highly talented international team LL L 2: Develop sophisticated, reliable leading edge technology Definition Indicator We will recruit and retain highly qualified and talented international individuals in editing, partnership and customer relationship management, marketing, IT and HR. We will develop a reliable infrastructure of tailored applications enabling fast access and easy navigation through a multi-channel portal # of langages spoken Project JJ Cumulated years oif experience in core competencies FF Cities coverage AA Develop Compends & Benefits package KK Identify high potentials in the FF European E-business community DD develop interfaces e-mail, web access, phones JJ ZK L 3: Develop wholly supportive infrastructure JJ We will provide the proper legal and HR infrastructure to support growth in all our centrally-located offices. It is essential that we use a consolidated and efficient reporting system Employee satisfaction DD Ensure that Executip's interests are well protected vs its external and internal constituencies BB # of formal reporting to the board Copyright NEXANCE Ltd. 2001 © Train the sales force AA Finalize network in the UK JJ DD December 2001
Financial The Strategy Roadmap F 1: Create a marketable multi-access platform dedicated to executives well being Ad Customer MP Internal Processes BO People, Learning and growth I 3: Ensure a high quality editorial content JL LL C 4: I want a segmenting portal that gives me access to my target customers MP I 8: Sell corporate subscriptions KZ I 2: Increase European geographic coverage AA I 4: Develop a network of e-commerce affiliated partners Ad L 2: Develop sophisticated, reliable leading edge technology F 4: Grow revenue C 3: I want to enhance my executives’ performance by providing then the best working conditions C 2: I want someone that helps make my life easier I 1: Raise funding in time to support growth forecasts LL MP F 3: Grow customer base F 2: Control burn rate I 6: BO Develop time saving hassle free differentiated services KZ DD FF I 5 : Develop pan-European marketing strategy L 3: Develop wholly supportive infrastructure LL FF I 7: Market and sell advertising space and sponsorships JJ KZ L 4: Develop a highly motivating, customer obsessed working environment L 1: Build a highly talented international team Copyright NEXANCE Ltd. 2001 © December 2001
Managing your BSC with the Nexance BSC Web Solution The Nexance BSC Solution Copyright NEXANCE Ltd. 2001 © December 2001
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