Balanced Scorecard: linking strategic planning to measurement and communication Gulcin Cribb and Chris Hogan Bond University, Australia OBJECTIVES Discuss how BSC methodology can facilitate linking a library strategic plan to that of the parent entity Examine the process of identifying performance measures Examine cause-effect relationships between measures Present Bond University library as a case study Bond University http://www.bond.edu.au Bond University http://www.bond.edu.au Balanced Scorecard (BSC) Devised to overcome shortcomings of previous systems Four Perspectives: Customer - How do customers see us? Internal Business - What must we excel at? Innovation and Learning - How can we continue to improve? Financial - How do we look to stakeholders? Aims of Bond’s BSC To enable the measurement of all critical activities To provide a strategic management system to monitor implementation of the strategic plan To facilitate communication with all stakeholders in particular with staff Bond University’s Balanced Scorecard A Balanced Pathway to Development Customer Perspective Objectives Measures Targets How do our customers see us? Internal Business Objectives Measures What must we excel at? Innovation and Learning Targets Mission, Vision and Strategic Goals Financial Perspective Objectives Measures Targets How do we look to stakeholders? How can we continue to improve and create value? Objectives Measures Targets In the beginning…. Strategic plans, lots of stats collected Are we doing things right? (How) - process To Are we doing the right things? (What) outcome Holistic strategic management system linked to the University’s BSC Cascaded to all levels and units Then… What processes must function effectively to achieve the things stakeholders regard as important - objectives What information could be collected to help judge the degree to which they are operating effectively -measures Cause-effect linkages How individual staff members and teams help contribute to the overall outcomes Connecting the desired outcomes with the drivers of results E.g. shelving and student retention; Information literacy training and excellence in teaching, learning and research Objectives, measures and targets Large numbers of objectives Challenge of culling them Measures Quantifiable Easily understood Relevant Inclusive Targets for each of the measures E.g. Shelving turnaround times, number of unfilled document delivery requests Customer Perspective Objectives Enhance customer satisfaction Measures Customer satisfaction survey, suggestion box focus groups Enhance Comments and communication and suggestions received collaboration Library involvement in Uni wide groups Ensure customers’ Number of irritants or awareness of gaps reported quality resources Take-up rate Enhance Library’s Library staff contribution to representation in university University-wide activities marketing Number of school visits Number of Alumni borrowers/Associate borrowers Targets Improve and monitor Maintain or improve Monitor and reduce Increase Maintain or increase Internal Business Perspective Objectives Measures Continuous improvement Meeting service standards/charter Increase e.g. Shelving turnaround times Customer response times Reduce Percent unfilled document delivery requests Staff costs spent on processing Number of new products, new publications Increase and services introduced Improved product range & service development Improved availability of course materials Cost effective implementation of information skills Targets Percentage of required and recommended materials available on the shelves Increase Staff formal training hours Attendees per staff member Attendees at orientation tours Increase Innovation and Learning Objectives Measures Targets Recruit, motivate and develop highest quality staff Information skills training for academics and students Library and information resources,facilities and services Percent of budget spent on staff development Staff satisfaction index Quality of student assignments Research publications Successful research grants Library budget as a percent of the University budget Increase Increase Maintain or increase Financial Perspective Objectives Measures Targets Cost effective allocation of resources Improved value for money Acquisitions expenditure as a percent of staff costs Increase Active borrowers Usage of resources, services Percent items used within one year of acquisition Performance of vendors/suppliers Increased income Income from sources other from non-University than the university sources Maximise asset Efficiency and effectiveness in utilisation the use of facilities, space, services, systems and resources Increase Improve Monitor Increase Increase Adoption Linking the BSC to a set of initiatives and projects Each project with its own set of objectives, owners, timelines and targets Review – three times a year Annual review by all staff – reprioritisation Team and individual staff adoption of their own BSCs Issues Time-consuming Takes a long time to cascade to all levels Needs to be driven both top down and bottom up Quantitative measures – culture of libraries Need to eliminate non-strategic initiatives and objectives Linking budgeting to the strategy development Conclusion BSC provided a way of articulating what, why and how well aspects of our plan and how the plan complements the University strategic plan Ease of integration into all aspects of activities Another tool, methodology A strategic management system Tool to communicate with the stakeholders Tool to help achieve continuous improvement Journey, not a project Bond University http://www.bond.edu.au Gulcin_cribb@bond.edu.au chog5801@bigpond.net.au