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Balanced scorecard


<ul><li><p>1 </p></li><li><p>Balanced Scorecard Implementation at UniCredit Tiriac Bank </p><p>Jann Tadorian Contact: </p><p>Managing Partner e-mail: jann.tadorian@inplenion.com </p><p>Inplenion Business Consulting International mobile: +41763915015 </p></li><li><p>3 </p><p>Agenda </p><p> What is the Balanced Scorecard ? </p><p> How to implement a Balanced Scorecard Project? </p><p> Unicredit Tiriac Bank Example </p><p> Overview Oracle Strategy and Scorecard Solution </p><p> Q&amp;A </p></li><li><p>4 </p><p>Agenda </p><p> What is the Balanced Scorecard ? </p><p> How to implement a Balanced Scorecard Project? </p><p> Unicredit Tiriac Bank Example </p><p> Overview Oracle Strategy and Scorecard Solution </p><p> Q&amp;A </p></li><li><p>5 </p><p>A Report ? </p><p>A Fashion ? </p><p>A KPI </p><p> System </p><p>? Its a </p><p> Management System ! </p><p>What is the Balanced Scorecard ? </p></li><li><p>6 </p><p> Do you have a clear formulated mission, vision and strategy in your company ? </p><p> Are the BU strategies aligned with the company strategy ? </p><p> Is there a discussion on strategy implementation within your management meetings? How much time do you spend on it ? </p><p> Are your personal goals (MBO) aligned with the company strategy ? </p><p> ...are the projects clearly approved and prioritized according to their strategy contribution ? </p><p> Are you sure that your management reporting reflects the status of your key success factors or the strategy implementation ? </p><p>Honestly </p></li><li><p>7 </p><p>Company Challenges : Strategy Execution </p><p>The Vision Barrier </p><p>Only 5% of the work force understands the strategy </p><p>The People Barrier </p><p>Only 25% of managers have incentives linked to strategy </p><p>The Management Barrier </p><p>85% of executive teams spend less than one hour per month </p><p>discussing strategy </p><p>The Resource Barrier </p><p>60 % of organizations dont link budgets to the strategy </p><p>9 of 10 companies fail </p><p>to execute strategy </p><p>Todays management Systems Were Designed to Meet the Needs of Stable Industrial Organizations That Were Changing Incrementally </p><p>You Cant Manage Strategy With a System Designed for Tactics </p></li><li><p>8 </p><p>= + + + + Objectives Competencies Actions Resources Motivation Information + Intendent </p><p>Change </p><p>= Confusion + + + + Objectives Competencies Actions Resources Motivation Information + </p><p>= Anxiety + + + + Objectives Competencies Actions Resources Motivation Information + </p><p>= Frustration + + + + Objectives Competencies Actions Resources Motivation Information + </p><p>= Chaos + + + + Objectives Competencies Actions Resources Motivation Information + </p><p>+ + + + Objectives Competencies Actions Resources Motivation Information + = Little Change </p><p>+ + + + Objectives Competencies Actions Resources Motivation Information + = unsuccessful </p><p> Implementation </p><p>What is needed for a successful Strategy Execution? </p></li><li><p>9 </p><p>Vision/ Strategy </p><p>Finanzielle Perspektive Finanzielle Perspektive </p><p>Was leisten wir fr unsere Kapitalgeber, um den </p><p>finanziellen Erfolg zu erhhen? </p><p>Was leisten wir fr unsere Kapitalgeber, um den </p><p>finanziellen Erfolg zu erhhen? </p><p>Finanzielle Perspektive Financial </p><p>Was leisten wir fr unsere Kapitalgeber, um den </p><p>finanziellen Erfolg zu erhhen? </p><p>If we succeed, how will we </p><p> look to our Shareholders ? </p><p>Struktur - und Prozessperspektive </p><p>Struktur - und Prozessperspektive </p><p>optimiert werden, um </p><p>zufrieden zu stellen? </p><p>optimiert werden, um </p><p>zufrieden zu stellen? </p><p>Struktur - und Prozessperspektive </p><p>Processes </p><p>optimiert werden, um </p><p>zufrieden zu stellen? </p><p>To satisfy our customers, </p><p>at which processes </p><p>must we excel ? </p><p>Mitarbeiter/Lern - und Entwicklungsperspektive Mitarbeiter/Lern - und </p><p>Entwicklungsperspektive </p><p>Wie knnen wir durch Innovation und Lernen </p><p>unseren Beitrag zur Wert - schpfung verbessern?" </p><p>Wie knnen wir durch Innovation und Lernen </p><p>unseren Beitrag zur Wert - schpfung verbessern?" </p><p>Mitarbeiter/Lern - und Entwicklungsperspektive </p><p>Learning &amp; Growth </p><p>Wie knnen wir durch Innovation und Lernen </p><p>unseren Beitrag zur Wert - schpfung verbessern?" </p><p>To achieve process excellence </p><p>how must our organization </p><p> learn and improve ? </p><p>Kundenperspektive Kundenperspektive </p><p>wir fr unsere Kunden </p><p>zu verwirklichen?" </p><p>wir fr unsere Kunden </p><p>zu verwirklichen?" </p><p>Kundenperspektive Customer / Market </p><p>wir fr unsere Kunden </p><p>zu verwirklichen?" </p><p>To achieve our vision, how </p><p> must we look to our </p><p> customers ? </p><p>Increased Clarity </p><p>Better Committment Implementation is </p><p>controllable </p><p>Better Balance </p><p>The Balanced Scorecard! </p></li><li><p>10 </p><p>The Balanced Scorecard Story! </p><p>Source: Kaplan/Norton 2009 </p></li><li><p>11 </p><p>Source: Study 100 x BSC, Horvth &amp; Partners </p><p>Support of a successful Strategy Implementation </p><p>Put in place of a common Strategy Understanding </p><p>Better Communication of the Strategy </p><p>Improvement of the Organization Learning </p><p>Enhancement in Cause &amp; Effect Relations Thinking </p><p>Better Objective Accountability </p><p> Very important </p><p> Relatively important </p><p> Little importance </p><p> Not important </p><p>20% </p><p>43% </p><p>61% </p><p>43% </p><p>59% </p><p>69% </p><p>42% </p><p>35% </p><p>24% </p><p>43% </p><p>33% </p><p>24% </p><p>28% </p><p>18% </p><p>13% </p><p>10% </p><p>6% </p><p>6% </p><p>10% </p><p>4% </p><p>2% </p><p>4% </p><p>2% </p><p>1% </p><p>0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% </p><p>The Reasons for BSC implementation? </p></li><li><p>12 </p><p>Agenda </p><p> What is the Balanced Scorecard ? </p><p> How to implement a Balanced Scorecard Project? </p><p> Unicredit Tiriac Bank Example </p><p> Overview Oracle Strategy and Scorecard Solution </p><p> Q&amp;A </p></li><li><p>13 </p><p>BSC </p><p>Change Management (F) </p><p>Project Management (A) </p><p>BSC </p><p>Model </p><p>(C) </p><p>Business Content Information Technology </p><p>SW </p><p>Solution </p><p>(D) </p><p>Data </p><p>Management </p><p>(E) </p><p>The Balanced Scorecard House </p><p>Strategic </p><p>Foundation </p><p>(B) </p></li><li><p>14 </p><p> Project Initialisation </p><p> Clarify Starting Point </p><p> Buy in Top Management </p><p> Clarify Objectives </p><p> Project Execution </p><p> Project Plan </p><p> Project Organisation </p><p> Project Documentation </p><p>Steering Commitee</p><p>Sponsor</p><p>(CFO)</p><p>Projectsteering</p><p>Work Group</p><p>(Content)</p><p>Work Group</p><p>(Technical)</p><p>Core Team</p><p>Project Organisation</p><p>Jan</p><p>Project Plan</p><p>AprMarFeb Mai</p><p>2 3 4 5</p><p>Modul A</p><p>Modul B</p><p>Modul D/E</p><p>Modul C</p><p>Modul E</p><p>ProjectManagement</p><p>ChangeManagement</p><p>StrategicFoundation</p><p>BSCArchitecture</p><p>SW/DataManagement</p><p>6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21Woche</p><p>Projektstart</p><p>Workshop1</p><p>Workshop2</p><p>Workshop 2: (11.2.03, 1/2 Tag)</p><p>Ausarbeitung strategische ZieleEntwicklung Ursache-/Wirkungsbeziehung</p><p>Teilnehmer:</p><p>Core team/alle</p><p>Kick Off</p><p>Workshops</p><p>Meeting Steering Comitee</p><p>Kick Off: 13.1.03, (1/4 Tag)</p><p>Klrung AusgangslageKlrung Zielsetzung</p><p>Teilnehmer:</p><p>alle</p><p>Sitzung 1: (18.2,1/4 Tag)</p><p>Verabschiedung Ziele u.Ursache-/Wirkungsbeziehungen</p><p>Workshop 3: (26.2.03, 1 Tag)</p><p>Definition MessgrssenDefinition Aktionen</p><p>Teilnehmer:Core team/alle</p><p>Sitzung 2: (11.3,1/4 Tag)</p><p>Verabschiedung Messgrssen u.Aktionen</p><p>Workshop 4: (18.3.03, 1/2 Tag)Definition Zielwerte u.Verantwortlichkeiten</p><p>Teilnehmer:alle</p><p>Workshop3</p><p>Sitzung 3: (20.3,1/2 Tag)Verabschiedung Zielwerte u.Verantwortlichkeiten u.BSC Konzept</p><p>Workshop3</p><p>Workshop 1: (4.2.03, 1/2 Tag)</p><p>Klrung und ErluterungLeitbild</p><p>Stakeholderanalyse</p><p>Teilnehmeralle</p><p>Project Management (Module A) </p></li><li><p>15 </p><p>Vision - Strategy - Check </p><p>Strategy: </p><p>Strategic Priorities </p><p>Common Strategy Understanding </p><p>External View </p><p>Internal View </p><p>Opportunities </p><p>Threats </p><p> Strengths </p><p>Weaknesses </p><p>SWOT </p><p>Actual/ Future </p><p>Markets/Products </p><p>Gaps Deficits </p><p>Competitors </p><p>Vision </p><p>Strategic Foundation (Module B) </p></li><li><p>16 </p><p> Strategic Objectives </p><p> Cause and Effect Chain </p><p> (Strategy MAP) </p><p> KPIs </p><p> Owners </p><p> Targets </p><p> Initiatives </p><p>Sustainable Growth Operational Excellence</p><p>Increase Revenue</p><p>Financial</p><p>Customer</p><p>Processes</p><p>Potential</p><p>Acquire New </p><p>Customers</p><p>Improve Employee</p><p>Competencies and </p><p>Motivation</p><p>Develop further the</p><p>Customer Focussed </p><p>Attitude</p><p>Enhance Accessibility of </p><p>Relevant Customer</p><p>Information</p><p>Improve</p><p>Profitability</p><p>Improve Asset</p><p>Utilization</p><p>Strategy Map Shop </p><p>Offer an Optimal Customer</p><p>Value Proposition</p><p>Improve Customer</p><p>Profitability</p><p>Retain Existing </p><p>Customers</p><p>A Class Supplier</p><p>Quality of Product </p><p>Presentation</p><p>Improve Cost</p><p>Structure</p><p>Optimize Product</p><p>Availability</p><p>Optimize Supply</p><p>Management</p><p>Enhance Advertising</p><p>Effectivity</p><p>Balanced Scorecard </p><p>Balanced Scorecard </p><p>Strategic Objectives KPIs Targets2003</p><p>Initiatives</p><p>Improve Profitability</p><p>Improve</p><p>Cost structure</p><p>Force</p><p>Growth</p><p>EBITDA</p><p>% Gesamtkosten vom Umsatz</p><p>% Vertriebs- und Verwaltungskosten</p><p>Gesamtumsatz</p><p>Improve</p><p>Capital Expenditures</p><p>Acquisition New Customers</p><p>Bind Customers</p><p>Optimal Value Proposition</p><p>Focus on </p><p>A Classe Supplier</p><p>Improve Product</p><p>Presentation</p><p>Use new Medias</p><p>Improve employee Motivation</p><p>and Competencies</p><p>Anzahl Neukunden</p><p>Churn Rate</p><p>CSI</p><p>% Anteil der Produkte von A Klasse</p><p>Lieferanten</p><p>Produkt-Visualisierungsindex</p><p>Bestellvorgnge ber Internet</p><p>Austritte von Key Employees</p><p>Mitarbeiterbefragungswerte</p><p>18%</p><p>80 % </p><p>7 %</p><p>900 Millionen Euro</p><p>12%</p><p>+ 5 %</p><p>2%</p><p>80 Indexpunkte</p><p>80 %</p><p>85 Indexpunkte</p><p>+ 125 %</p><p>3%</p><p>85 % Indexwerte</p><p>Shop UP- Projekt</p><p>Einfhrung eines Lieferanten-</p><p>bewertungssystems</p><p>Einfhrung Mitarbeiterbefragung</p><p>Feedbacksysteme berarbeiten</p><p>PR- Projekt</p><p>ROI</p><p>Perspectives</p><p>Financials</p><p>Customer/Market</p><p>Processes</p><p>Potentials</p><p>Balanced Scorecard Model (Module C) </p></li><li><p>17 </p><p>Strategic Objectives + Explanations </p><p>Strategic Initiatives </p><p>KPIs and </p><p>Target Values </p><p>BSC </p><p> Documents </p><p>Strategic Priorities </p><p>Cause and Effect Chains+ Explanations </p><p>1 </p><p>2 </p><p>3 </p><p>4 </p><p>Financial Perspective</p><p> Improve W.C.-ratio</p><p> . . .</p><p> . . .</p><p> . . .</p><p>Process Perspective Improve strategic akquisition process</p><p> . . .</p><p> . . .</p><p> . . .</p><p> . . .</p><p>Customer Perspective Establish innovator image</p><p> . . .</p><p> . . .</p><p> . . .</p><p> . . .</p><p>Learning &amp; Growth Perspective Create global group thinking of local</p><p>management</p><p> . . .</p><p> . . .</p><p> . . .</p><p> . . .</p><p>Po</p><p>ten</p><p>cia</p><p>l P</p><p>rocess </p><p>Cu</p><p>sto</p><p>mer </p><p>Fin</p><p>an</p><p>ce </p><p>Documentation of strategic goals and corresponding KPIs </p><p>Goal-No.: P 3 Upper level strategic goal: none </p><p>Measurement No.: P 3.1 Corporate level: 1 </p><p>Person responsible for data: Frequence: </p><p>FORMULA: </p><p>Definition by negative separation (What does the strategic goal not mean?): </p><p>Person responsible for reporting: </p><p>Frequence of reports: </p><p>DEFINITION: </p><p>Person responsible for strategic goal: </p><p>Data source: </p><p>Strategic goal definition (What shall be reached?): </p><p>Story of Strategy </p><p>Strategic goal: </p><p>Definition/Formula: </p><p>Measurement: </p><p>Person responsible for result: </p><p>Balanced Scorecard Model (Module C) </p></li><li><p>18 </p><p>18 </p><p>BSC Model: Translate Strategy into Action (Module C) </p></li><li><p>19 </p><p> BSC Logic </p><p> Presentation Content </p><p> Navigation </p><p> Different Data Inputs </p><p> Easy Maintenance </p><p> Company-wide Distribution </p><p>Balanced Scorecard Solution (Module D) </p></li><li><p>20 </p><p> Datasources </p><p> Data Transformation </p><p> Data Quality Assurance </p><p> Interfaces </p><p> Loading Data </p><p>Slide 9 </p><p>ERP </p><p>KPI Data Mart Data Input </p><p>SW - Datatransfer </p><p>Quality Assurance </p><p>BSC Application </p><p>DWH </p><p>Business </p><p>Divisions </p><p>Scorecard User </p><p>Data Management Architecture </p><p>Administration &amp; Support </p><p>KPI Interface Manual </p><p>Interface (Web Application ) </p><p>Application Web Interface </p><p>Cubes Excel </p><p>Data Management (Module E) </p></li><li><p>21 </p><p> Communication </p><p> Mobilisation </p><p> Information </p><p> Training </p><p> Integration in Management System </p><p> BSC Review Process </p><p> MBO </p><p> Incentive System </p><p>Change Management (Module F) </p></li><li><p>22 </p><p>Agenda </p><p> What is the Balanced Scorecard ? </p><p> How to implement a Balanced Scorecard Project? </p><p> Unicredit Tiriac Bank Example </p><p> Overview Oracle Strategy and Scorecard Solution </p><p> Q&amp;A </p></li><li><p>23 </p><p>Employees: ~162,000 </p><p> Customers: ~ 40 million </p><p> Branches: ~ 10,000 </p><p>Total assets: ~ EUR 1tn </p><p> Banking operations in 22 countries </p><p> International network spanning ~50 countries </p><p> Global player in asset management: ~ 86 bn in managed assets </p><p>Market leader in Central and Eastern Europe leveraging on the regions structural strengths </p><p>UniCredit Group at a glance* </p><p>*Data as of June 2010, UniCredit Group site </p><p>A Major Banking Group </p></li><li><p>24 </p><p>UNICREDIT TIRIAC BANK AT A GLANCE* </p><p> ~ 3,000 employees </p><p> Over 500,000 clients </p><p> 234 branches </p><p> 20.5 bn RON total assets </p><p>*at 30 June 2010 </p></li><li><p>25 </p><p>OUR GROUP MISSION </p><p>We UniCredit people are committed to generating value for our customers. </p><p>As a leading European bank, we are dedicated to the development of the communities in which we live, and to being a great place to work. </p><p>We aim for excellence and we consistently strive to be easy to deal with. </p><p>These commitments will allow us to create sustainable value for our shareholders. </p><p>25 </p></li><li><p>26 </p><p>March April May June July August February January </p><p>Post Production Support </p><p>18.01 </p><p>March April May June July August February January </p><p>Project Initialization </p><p>Workshops round 1 </p><p>Workshops round 2 </p><p>Consistency Check </p><p>Project Initialization </p><p>Test &amp; Training </p><p>Design </p><p>Migr. PROD </p><p>30.03 WS round 1 ready </p><p>28.05 WS round 2 ready </p><p>Installation </p><p>Start </p><p>Start </p><p>Build </p><p>07.06 </p><p>BSC Concept Ready </p><p>07.06 Design ready </p><p>25.06 Build ready </p><p>16.07 T&amp;T ready </p><p>26. 07 Go Live </p><p>Inplenion Support and coach implementation BALANCED SCORECARD CONCEPT </p><p>01.03 </p><p>SCORECARD IMPLEMENTATION </p><p>Balanced Scorecard Project </p></li><li><p>27 </p><p>Definition of Strategic Initiatives </p><p>Definition and Linkage of Strategic </p><p>Objectives </p><p> Finance </p><p> Customers </p><p> Processes </p><p> Potentials </p><p>Priorisation and Budgeting of </p><p>Strategic Initiatives </p><p>3 2 1 4 5 </p><p>WS 1: </p><p>Strat.Objectives , Cause-and-effect- </p><p>chain </p><p>WS 2: </p><p>KPIs, Target Values and Strat. Initiatives </p><p>WS 3: </p><p>Initiative Priorization and Budgeting </p><p>Definition of Strategic Measures </p><p>Definition of Target Values </p><p>Str</p><p>ate</p><p>gic</p><p> Check </p><p>0 </p><p>BSC Content Elaboration </p></li><li><p>28 </p><p>Criterias for Rollout Type Type A Type F</p><p>External Customer Relation (E) vs. Internal Customer (I) E I</p><p>Revenue Center (R) vs. Cost Center (C) R C</p><p>Strategic Importance H L</p><p>Contribution to Business Value H L</p><p>Independency related to other units H L</p><p>Size of the Unit H L</p><p>Diversification of unit H L</p><p>Complexity of Unit L H</p><p>Rollout Type</p><p>OWN A Entity has an own strategy as starting point for the BSC elaboration</p><p>DERIVED BSC B BSC elaboration is derived from Superior BSC and some own strategic input</p><p>MIX C Financial and L&amp;G perspectives use objectives from superior BSC; individual objectives for customer and process perspective are included.</p><p>STANDARD D Same strategic objectives and KPI's as superior BSC but with own target values (e.g. Branch)</p><p>STRATIGIC INITIATIVES E No BSC is elaborated. Only strategic initiatives are defined as contribution to the BSC objectives of superior entities.</p><p>BSC Communication F No BSC is elaborated but the company and department BSC is communicated and explained.</p><p>Legend</p><p>High (H)</p><p>Little (L)</p><p>OWN</p><p>1. Company</p><p>DERIVED DERIVED DERIVED DERIVED DERIVED DERIVED </p><p>2. Retail 3. CIB&amp;PB 4. CFO 5. GBS 6. CRO 7. HR</p><p>Mix DERIVED</p><p>8.Large Corp 14. IT Phase 1 (2010)</p><p>Mix SI</p><p>9. Intl Cl/CBBM Operations Phase 2 (2011)</p><p>Mix SI</p><p>10. Mid Corporate Org Phase 2 (2011)</p><p>Mix SI</p><p>11. PB Fac. Man. Phase 2 (2011)</p><p>Mix</p><p>12. Markets</p><p>Mix</p><p>13. Real Estate</p><p>SI</p><p>Fin Adv &amp; Prod</p><p>SI</p><p>GTB</p><p>BSC Architecture - 13 scorecards</p><p>BSC Rollout Structure </p></li><li><p>29 </p><p>The above described integrated and comprehensive closed-loop system links strategic planning with operational planning, execution, </p><p>feedback, and learning. The system has many moving parts and interrelationships, and it requires simultaneous coordination among all </p><p>line and staff units. </p><p>Stage: Adapt/Translate the Strategy</p><p>5Y Financial Plan</p><p>Bank Strategy Map</p><p>Bank KPIs</p><p>Bank targets</p><p>Bank Initiatives Portfolio</p><p>Identyfy the Stratex portfolio</p><p>Stage: Align the organization</p><p>BL/CL strategic maps</p><p>BL/CL KPI's </p><p>BL/CL targets</p><p>BL/CL Initiatives</p><p>Stage: Plan Operation/ Budgeting</p><p>Projects prioritization and CAPEX budgeting</p><p>Operational budget </p><p>Personal MBO</p><p>Stage: Mo...</p></li></ul>