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Linda Bounds Vice President – Financial Services

Focus on Results Balanced Scorecards. Linda Bounds Vice President – Financial Services. Focus on Results. The Question.

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Linda Bounds Vice President – Financial Services

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  1. Focus on Results Balanced Scorecards Linda Bounds Vice President – Financial Services

  2. Focus on Results

  3. The Question What approach do you use to achieve and maintain excellent results? -- Results that create loyalty customers and value for your employees, vendors/partners and shareholders.

  4. Focus on Results – Balanced Scorecard • Learning Objectives • Approach to Focus on Results • Identify key stakeholders and requirements • Alignment of requirements and strategies • Systematic review through Balanced Scorecard • Approach to Creating Value • Process improvement actions • Innovation • Key to Achievement • Leadership System • Results - Sustainability

  5. Focus on Results – Creating Value

  6. Balanced Scorecard A Balanced Scorecard is simply: • Your key stakeholders • Their key requirements • Indicators of your performance • Displays your goals • All of your important results on one page

  7. Key Elements - Performance Measurement System Set the Direction • Align with Key Stakeholder Requirements

  8. Key Elements - Performance Measurement System Set the Direction • Linked to Organizational Goals

  9. Key Elements - Performance Measurement System Set the Direction • Align with SWOTS, Core Competencies and Company Strategies

  10. Key Elements - Performance Measurement System Establish the Measures • Align with performance and process areas

  11. Company Goals Company Requirements Department Scorecard Key Elements – Performance Measurement System - Link Goals and Requirements to Department and Individual Scorecards Individual Scorecard Product Availability In-stock Rate Shipping package quality Customer Satisfaction Accurate, Intact Shipments • In-stock rate by product line • Package quality rate • Picking error rate • Ship QC invoices per hour Fast Delivery Easy to do business with Abandoned Calls

  12. Key Elements - Performance Measurement System Establish the Measures • Integrate stakeholder requirement, process, measure and value

  13. Key Elements - Performance Measurement SystemBalanced Scorecards- Measures provide depth and breadth for fact-based decision making * Not actual numbers. Numbers are for illustration purposes only.

  14. Customer Satisfaction * Not actual numbers. Numbers are for illustration purposes only.

  15. CustomerSatisfactionDetail * Not actual numbers. Numbers are for illustration purposes only.

  16. LogisticsDepartmentScorecard * Not actual numbers. Numbers are for illustration purposes only.

  17. EmployeePerformance * Not actual numbers. Numbers are for illustration purposes only.

  18. CompanyDailyDashboard * Not actual numbers. Numbers are for illustration purposes only.

  19. Key Elements – Performance Measurement SystemSystematic Review Process Company Scorecard Monthly SLT Review Department Scorecard Monthly Review with President Area Process Measures Monthly DLT Review Employee Performance Supervisor Daily Review

  20. Key Elements – Performance Measurement SystemTake Action – Value Creation Creating Value

  21. Key Elements of Performance Measurement System Take Action - Value Creation • Review of results generate process improvement and innovation • Three categories at Midway: • Corrective Actions from review of process measures • Innovation from continuous improvement ideas • “Bucket List” for strategically significant ideas

  22. Key Elements – Performance Measurement SystemTake Action - Value Creation - Results not meeting goal for three months - establish Action Plan * Not actual numbers. Numbers are for illustration purposes only.

  23. Key Elements – Performance Measurement System Take Action – Company Action Plans (CAPs) Department Action Plans (DAPs) - Track Action Plan Results through integration into the process.

  24. Key Elements – Performance Measurement SystemCommunicate • Communicate Improvements • SOTB and Qtrly DKS • Monthly DLT and staff review • Daily dashboard review • Celebrate Improvements • Formal/informal R & R • Engages Employees

  25. Key Elements – Performance Measurement SystemValue Creation – Repeat the Process Creating Value

  26. Value Creation – Driven through Leadership System

  27. “Results” of Excellent Performance Measurement System-- Value Creation and Performance Excellence • Deliver every improving value to customers and stakeholders • Loyalty • Growth • Sustainability • Improves overall organizational effectiveness and capabilities • Continuous Innovation 3. Organizational and personal learning • Engagement • Organizational DNA

  28. Questions?

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