Validating competency models

30 Jan

The BSC allows CEO’s to look at the business from four important perspectives: 1.Balanced Scorecard is the Excellent Tool for Strategy Deployment through Alignment of Processes and People.Harvard Business School Professor, Robert Kaplan and Management Consultant, David Norton conceived the concept of Balanced Score Card (BSC) in 1991.Financial Perspective- To satisfy shareholders, what financial objectives must we accomplish.? Customer Perspective-To achieve Financial objectives, what customer needs must we serve?General mission statement on customer service to be translated into specific measures that reflect the factors that really matter to customers, like lead time measures, quality measures, performance and service measures etc. Internal Process Perspective- To satisfy shareholders and customers in which internal processes must we excel?

Again the SBUs/Dept.s have to check for the gaps in their BSC and identify new processes/KPMs in their SBU/Dept. Step 6: Gap Analysis and Stretching Targets The targets in BSCs/Individual Score Cards are to be fixed in a logical/ systematic manner.