Yesterday I attended a Balanced Scorecard session organized by SPIN Chennai and the speaker was Mr SUDIPTO MARJIT (Practice Head of QAI Limited). Before the session my exposure to Balanced Scorecard was limited (or lower), but Mr.Marjit did an excellent job in giving an overview within the 60-75 minutes he had that at the end I felt I know a lot on the topic. Though this is a theoretical topic he made it very lively with his engaging style, with every sentence he spoke we could easily sense his passion for the topic and experiences he has had on ground.
He introduced the need for having something like Balanced Scorecard before going into the actual topic. This approach helped in appreciating this concept better. “Balanced Scorecard, is a world-renowned management technique for implementing strategy and creating a performance management system. Designed by Dr Robert Kaplan and Dr David Norton, it has been recognized by the HBR as the leading management tool in the last 75 years”
Two key Areas that Mr.Marjit concentrated on the talk were
- Balanced Scorecard methodology and understanding of a Strategy Focused Organization
- Aligning Strategy through Strategy Maps
I really liked his example of South West Airlines using a strategy map.