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Creating a Balanced Scorecard for a Financial Services Organization

توضیحات

How to tap the power of Balanced Scorecard for financial services organizations

This book explains how financial services organizations can build and implement a Balanced Scorecard (a strategy management framework) that can deliver accountability, transparency, and risk management. With plentiful case study examples supported by the latest theoretical thinking, this book provides a step-by-step guide to designing the Balanced Scorecard framework (that includes both financial and non-financial performance perspectives) and how to align the whole organization behind the strategic goals of the enterprise.


CHAPTER 1: THE CURSE OF LIVING IN "INTERESTING TIMES", THE CREDIT CRUNCH, AND OTHER CHALLENGES.
Executive Summary.
Introduction.
The Impact of the Credit Crunch.
Deregulation, Globalization, and Technology.
The Collapse of Customer Loyalty.
Scorecard Pioneers.
Other Scorecard-Using Financial Services Companies.
Conclusion.

CHAPTER 2: DESCRIBING THE BALANCED SCORECARD.
Executive Summary.
Introduction.
The Scorecard's Origins.
A Balanced Measurement System.
The Emergence of the Strategy Map.
The Strategy-Focused Organization.
Enterprisewide Alignment.
Creating a Board Scorecard System.
The Office of Strategy Management.
The Execution Premium Model.
Conclusion.

CHAPTER 3: THE BALANCED SCORECARD AND RISK MANAGEMENT.
Executive Summary.
Introduction.
Linking Strategy Management with Risk Management: a History.
Strategic Risk Management: the New Core Competency.
Risk-Based Performance.
A Risk-Balanced Scorecard.
The Five Principles of SRM.
Conclusion.

CHAPTER 4: BUILDING A STRATEGY MAP.
Executive Summary.
Introduction.
Start with the Strategy.
Senior Management Must Own the Strategy Map.
Strategy Clarification.
The Use of External Facilitation.
Creating Objectives.
Strategic Themes.
Risk-Balanced Scorecard.
Value Creation Map.
Risk Map.
Conclusion.

CHAPTER 5: SELECTING METRICS AND TARGETS.
Executive Summary.
Introduction.
The Critical Few Measures.
Key Performance Questions.
KPIs.
Common Definitions.
Key Risk Indicators.
A Risk Scorecard.
Selecting Targets.
Comparative Performance Goals.
Conclusion.
Self-Assessment Checklist.

CHAPTER 6: SELECTING INITIATIVES.
Executive Summary.
Introduction.
Organizational Awareness of the Importance of Initiatives.
The Challenges of Selecting Initiatives.
Linkage to the Strategy Map.
Stratex.
Initiative Prioritization.
Conclusion.

CHAPTER 7: CASCADING THE BALANCED SCORECARD: THE STRUCTURAL CHALLENGES.
Executive Summary.
Introduction.
Strategic Line-of-Sight.
Mandated Objectives and Measures.
An Ideal Scorecard Cascade.
Scorecard Pilots.
A Hybrid IT Strategy Map: the Case of the Bank of England.
To Cascade or Not to Cascade?
Conclusion.

CHAPTER 8: CASCADING THE BALANCED SCORECARD: THE CULTURAL CHALLENGES.
Executive Summary.
Introduction.
Transparency and Accountability.
Fear of Measurement.
A Major Change Effort.
Senior Management Behavior.
Local Champions.
Communications.
Conclusion.

CHAPTER 9: INDIVIDUAL PERFORMANCE APPRAISAL AND INCENTIVE COMPENSATION.
Executive Summary.
Introduction.
Personal Scorecards.
Arguments Against the Personal Scorecard.
Truncated Personal Scorecards.
Competency Development.
Personal Scorecards for the Senior Team.
Linking Performance to Pay.
The Arguments Against Making the Link.
Making the Choice.
Conclusion.

CHAPTER 10: GETTING THE BEST FROM SOFTWARE.
Executive Summary.
Introduction.
The Benefits of Automation.
What Software Cannot Do.
Certified Vendors.
Criteria for Choosing Software.
Advanced Performance Institute Software Selection Criteria.
Developing an IT Strategy.
Strategy and Risk Management.
Conclusion.

CHAPTER 11: ALIGNING BUDGETING AND PLANNING WITH STRATEGY THROUGH THE BALANCED SCORECARD.
Executive Summary.
Introduction.
The Shortcomings of the Budget.
Out of Step With Strategy.
The Scorecard Driving the Budget.
Devolved Responsibility.
Alternatives to Conventional Budgeting.
Reporting Risk.
Stratex.
Conclusion.

CHAPTER 12: CONCLUSION AND ACTION ROADMAP.
Executive Summary.
Part One: The Future of the Balanced Scorecard Within Financial Services Organizations.
Introduction.
Learning from Past Mistakes: Balancing Strategic Goals with Risk Management.
Better Board Oversight in the Future.
Part Two: Action-Oriented Roadmap.
Parting Remarks.