TEC 2005 Customer Objectives Early Career

Slide 1: 

Balanced Scorecard WorkshopCustomer Objective:Enhance Relevance to Early Career EngineersTEC 2005Pittsburgh, PennsylvaniaLarry Dickinson, VP, K&C Program and ActivitiesMarian Heller, Coordinator, Educational ActivitiesDickinsonL@asme.org HellerME@asme.org

Workshop Objective: 

Workshop Objective The purpose of this workshop is to: Provide you with a basic understanding of Strategy Development and Execution/Management using the Balanced Scorecard system Use one of the ASME customer objectives as an example to demonstrate how technical and global units can plan and contribute to ASME’s overall objectives through unit operations. THIS IS AN INTERACTIVE WORKSHOP AND YOUR PARTICIPATION WILL MAKE IT A SUCCESS!

Review of Balanced Scorecard: 

Review of Balanced Scorecard The Balanced Scorecard facilitates the strategy management process Facilitates strategy formulation, execution, measurement, and communication Provides a framework to link strategy to operations at all levels of the organization Enables organization to become centrally focused on the strategy

Review of Balanced Scorecard: 

Source: Kaplan and Norton, Strategy-Focused Organization, 2001. The Balanced Scorecard centers around four important perspectives Internal Process Perspective Financial Perspective Learning & Growth Perspective Customer Perspective Return on Investment Price Quality Time Function Image Relationship Value Proposition Sources of Growth Sources of Productivity + + “Build the Brand” “Make the Sale” “Deliver the Product” “Service Exceptionally” Revenue Strategy Productivity Strategy 1. The economic model of key levers driving financial performance 2. The identification of targeted customer segments and their value propositions 3. The process-focused aspects of the business 4. The intangible assets necessary to drive performance Staff Competencies Technology Infrastructure Climate for Action A Balanced Scorecard tells the “story of the strategy” Review of Balanced Scorecard

ASME Balanced Scorecard Customer Objectives: 

ASME Balanced Scorecard Customer Objectives Enhance Relevance to Industry & Government Serve our Core Customers Increase and Expand Market Relevant Content Expand & Enhance Global Presence Enhance Relevance to Early Career Engineers Expand/Enhance Multi-Disciplinary Activities

Strategy Development: 

As you formulate your strategy around the four Balanced Scorecard perspectives, ask yourself the following questions: Customer: "To achieve our vision, how should we appear to our customers?“ Financial: "To succeed financially, what models must be implemented for global growth, sustained viability and reinvestment?“ (key drivers of financial performance) Internal: "To satisfy our customers, what business processes and procedures must we excel at?" Learning and Growth: "To achieve our vision, how must our organization learn and change to sustain our ability to improve?" Strategy Development

Strategy Development: 

A clear definition of the “value proposition” is the single most important step in strategy formulation Strategy Development

Strategy Development: 

Strategy Development Need to identify: Current assessment of our situation (a complete honest assessment is key) - Use SWOT Table: Resources needed

Slide 9: 

Customer Objective:Enhance Relevance to Early Career Engineers ASME is losing its relevance to Early Career Engineers leading to erosion of its membership base and loss of sales of key programs. The Society must take on initiatives (e.g., develop key programs and activities) that can attract and retain early career engineers as members. What are early career engineers looking for from a professional society? How can the Balanced Scorecard help units (technical and global) plan and implement effective programs for early career engineers?

Slide 10: 

Strategic Theme: Enhance Relevance to Early Career Engineers What and How do we do that? (Basic requirements and differentiators) What processes must we master to support the customer value proposition? Unit Operations? What competencies, knowledge and climate do we need to support processes and activities? Customer Objective:Enhance Relevance to Early Career Engineers

The Final Component –Measures, Targets & Initiatives: 

The Final Component –Measures, Targets & Initiatives