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17 November, 2003 Building and Implementing the Balanced Scorecard: Survey

Naresh Makhijani and James Creelman C/o Balanced Scorecard Solutions. #04-03 Balmoral Plaza Upper Bukit Timah Road Singapore Fax : 65-62350266 Email : naresh@pacific.net.sg. 17 November, 2003 Building and Implementing the Balanced Scorecard: Survey

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17 November, 2003 Building and Implementing the Balanced Scorecard: Survey

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  1. Naresh Makhijani and James Creelman C/o Balanced Scorecard Solutions. #04-03 Balmoral Plaza Upper Bukit Timah Road Singapore Fax : 65-62350266 Email : naresh@pacific.net.sg 17 November, 2003 Building and Implementing the Balanced Scorecard: Survey Greetings! I am writing to you to seek your time to fill this survey form that will be part of a book being written by us (James Creelman & Naresh Makhijani). This survey will support in analysing the experiences of Asian organizations in designing and implementing the Balanced Scorecard. Due for publication in May 2004 the book will include detailed comparisons of current practices in different countries, various industries and sectors. The book will also comprise of best practice case studies from leading Asia-based scorecard users and advice from thought leaders. By taking the time to complete this questionnaire on your organization’s experience with the Balanced Scorecard you will be making a valuable contribution to this major new work. Please be assured that your replies will remain anonymous and will not be shown to any other organization. As a gesture of our gratitude, we will send you a copy of results. Please mail, fax or email the attached form at the address above. We thank you in advance for your cooperation. Sincerely Yours Naresh Naresh Makhijani MSID, CMC, MBA, PGDMSM, B.Sc.

  2. 1st Annual Asia Pacific Balanced Scorecard Survey √ Please fill in the particulars or tick mark appropriate box Section 1. Personal Particulars 1.1. Name : ___________________________________ 1.2. Title : ____________________________________ 1.3. Company Name:___________________________ 1.4 Tel: ________________ 1.5. Fax. No. _______________ 1.6 Country: ’India ’ China ’ Thailand ’ Malaysia ’ Singapore ’ Indonesia ’ Japan ’ Hong Kong ’ Taiwan ’ ______________ 1.7 Industry : ’ Oil & Gas ’ Banking and Insurance ’ Telecom ’ Pharmaceutical ’ FMCG ’ Public Sector ’ Power Sector ’ Conglomerate ’ Manufacturing ’ Distribution ’ Others ____________ 1.8. Size of Company (Revenue) ’ US$ 0-5 million ’ US$ 10-50 million ’ US$ 50-100 million ’ US$ 100 million and above Section 2. Scorecard Use • Do you use the Balanced Scorecard within your organization? • ’ Yes ’No’Planning to do • If yes, go to section 4 on page 4 and complete the form from pages 4 onwards • If no, go to section 3 on page 3 and fill page 3 only

  3. Section 3. Scorecard Non-use 3.1. We evaluated the Balanced Scorecard but decided not to’implement the framework 3.2. We have never considered using the Balanced Scorecard ’ 3.3. The scorecard failed to deliver expected results’ 3.4. Management interest faded’ 3.5. Management couldn’t reach agreement on the composition ’of the scorecard 3.6. It proved too difficult to implement’ 3.7. Cultural resistance ’ 3.8. The champion left the organization’ 3.9. Change of CEO’ 3.10. Scorecard removed following a merger or acquisition’ 3.11. Other reason (please specify): ______________________ ’ Thanks you for completing the survey form. Please mail, fax or email the form at the address given on cover letter

  4. Section 4. Reasons for BSC How important were the reasons for implementing Balanced Scorecard Totally Moderately Extremely Unimportant Unimportant Important Important Important 4.1. To rectify poor financial ’’’’’performance 4.2. To contend with increasing ’’’’’competition 4.3. To better understand the ’’’’’drivers of strategic success 4.4. As a tool to increase ’’’’’accountability for performance 4.5. As a tool to increase ’’’’’performance transparency 4.6. To communicate the strategy ’’’’’to the employee base 4.7. To align the performance of all ’’’’’employees to strategic objectives 4.8. As a framework for aligning ’’’’’bonuses with performance 4.9. To better prioritise initiatives ’’’’’and allocate resources

  5. Section 5. Scorecard Effectiveness 5.1. To which level has the scorecard been deployed Planning Less than 1-3 3-5 Over five Stages 1 year years years years Corporate’’’’’ Division ’’’’’ Business Unit’’’’’ Function ’’’’’ Team’’’’’ Individual employee ’’’’’ Section 5. Scorecard Effectiveness 5.2. On a scale of 1-5, with 1 being totally ineffectiveness and 5 being totally effective, how effective has the Balanced Scorecard proven to be at improving performance at each level Totally Moderately Extremely Ineffective Ineffective effective Effective Effective Corporate’’’’’ Division ’’’’’ Business Unit’’’’’ Function ’’’’’ Team’’’’’ Individual employee ’’’’’

  6. Section 6. Enterprise-Level Scorecard The following questions concern the process for building the enterprise-level Scorecard. If you have build scorecard at functional level and below go to Section 7. 6.1. How long did it take to build the enterprise Balanced Scorecard system? ’We are presently building the scorecard ’Less than 1 month ’Over 1 month but less than 3 moths ’Over three months but less than 6 months ’Over 6 months but less than 9 months ’Over 9 months but less than 1 year ’Over 1 year 6.2. How many perspectives does the Balanced Scorecard contain? ’ Too early to say ’ 3 ’ 4 ’ 5 ’ 6 ’ Other (please specify)______ 6.3. How many strategic objectives are housed within the Balanced Scorecard? ____________________________________________________________ ____________________________________________________________ 6.4.How many key performance indicators are housed within the Balanced Scorecard? ____________________________________________________________ ____________________________________________________________ 6.5.Who championed the Balanced Scorecard effort? ’CEO or equivalent’Other executive board member ’Non-executive board member’Other (please specify) 6.6.How often does the executive team formally assess performance to the Balanced Scorecard? ’As an agenda item within each monthly management meeting ’The scorecard sets the agenda for the monthly management meeting ’As an agenda item once a quarter ’Within a specially convened quarterly meeting ’Once a year ’As an occasional requirement ’Other (please specify) ________________

  7. Section 6. Enterprise-Level Scorecard 6.7.How closely is the budgeting process integrated with the Balanced Scorecard? ’Fully Integrated ’Partially integrated ’Not at all integrated 6.8. Is the Balanced Scorecard used alongside other management tools, and how successful has the integration been in improving performance? ’EVA or equivalent ’Six Sigma ’Quality Framework (such as Malcolm Baldrige) ’ABC ’Other (please specify) ________________ 6.9 Who now has primarily responsibility for facilitating the scorecard process on a day-to-day basis within the organization? ’A dedicated full-time in house Balanced Scorecard team of 5 or more people ’A dedicated full-time in house Balanced Scorecard team of less than 5 people ’The finance function ’The HR function ’The IT function ’Other (please specify) ________________

  8. Section 7. Devolved Scorecard 7.1 If you have rolled the scorecard out deeper than enterprise-level how long has it taken you to complete the process? ’Less than one year ’More than one year but less than three years ’More than three years but less than 5 years ’More than 5 years 7.2. Did you complete a local scorecard pilot prior to wider scorecard rollout? ’ Yes ’ No ’Presently in a pilot stage 7.3. If yes, where was the pilot undertaken: ’Business Unit ’Country ’Function (specify which function) ’Team (specify which team) ’Other (please specify) ________________ Section 8. Use of Consultant 8.1. Did you employ an external consultant to facilitate the scorecard creation and implementation process? ’ Yes ’ No If no go to section 9 8.2. If yes, was this consultant: ’A large general management consultancy ’A specialist Balanced Scorecard consultancy ’Academic ’A functional specialist consultancy ’Other (please specify) ________________ 8.3. How effective was this consultancy in supporting the scorecard effort ’ To early to say ’ Totally in effective ’ Ineffective ’ Moderately Effective ’ Effective ’ Totally Effective

  9. Section 9. Automation 9.1. Have you automated the Balanced Scorecard?’ Yes ’ No If no, how do you capture and report scorecard results? __________________ E.g., excel, PowerPoint. Now go to Section 10 9.2. If yes, which software did you use? ___________________________ 9.3. When did you automate the scorecard? ’At the same time as we built the scorecard ’Immediately after we built the scorecard. ’Less than one year after building the scorecard ’Between one and three years after building the scorecard ’Between three and five years after building the scorecard. ’More than five years after building the scorecard. 9.4. How effective has the automated solution in supporting the scorecard programme? ’ Totally in effective ’ Ineffective ’ Moderately Effective ’ Effective ’ Totally Effective Section 10. Compensation 10.1. Have you tied incentive compensation to scorecard results? ’ Yes ’ No ’ Plan to 10.2. If yes, at which levels is the compensation link applied. Tick all that apply ’Executive Board ’Senior Management ’Middle Management ’Junior Management ’General Employee-Base 10.3 How effective has the compensation link proven to be in improving performance to scorecard objectives, measures etc? ’Executive Board ’Senior Management ’Middle Management ’Junior Management ’General Employee-Base

  10. Section 11. Communication 11.1. Which of these mechanisms have you used to communicate the Balanced Scorecard within the organization? Tick all that apply ’Intranet ’Internal newsletters ’Town-hall meetings ’Posters and other visual displays ’Email ’Senior management briefings ’Cascaded briefings ’Training sessions ’An automated scorecard on the desktop of all employees ’Other (please specify) _____________________________ Section 12. Conclusion 12.1. What has been the greatest benefit in using the Balanced Scorecard? ____________________________________________________________ ____________________________________________________________ 12.2. What has been the single greatest challenge in you scorecard implementation efforts? ____________________________________________________________ ____________________________________________________________ 12.3. What is the most important success factor in succeeding with the Balanced Scorecard? ____________________________________________________________ ____________________________________________________________ • Thanks for your taking time to complete this survey form. • Please mail, fax or email this form before 15 December 2003 at address on cover letter • We will be mailing you the results of survey by 15 March 2004.

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