Measuring Measures to company productivity

Productivity of corporate entities that determines the effectiveness and efficiency on in-house and external operations, procedures, tasks and activities is intangible. So are the factors effecting its enhancement or detraction. However, for business organizations as a whole, productivity is vital to their survival and sustainability. It is empirical to understand this intangible necessity to have better control over it. Balanced Scorecards come handy in this regard as they allow a particular factor that is required to be studied or analyzed to become quantified using simple, logic-based methodologies.  

With the help of its very useful tools as, the Balanced Scorecards Toolkit, which is a set of documents designed to aid in the development, implementation, usage and evaluation of the Balanced Scorecards in the companies to measure, control and enhance performance. However, implementation of scorecards involves a thorough study of the organization which includes, gauging the performance of the outcome of company operations and implementation through SWOT Analysis Process which gauges the Strengths, Weaknesses, Opportunities and Threats to the company. It involves the SWOT based on ‘can do’ and ‘cannot do’ approaches to segregate what can be or is achieved as compared to what has to be accomplished yet. These analyses are based on corporate mission and vision defined by the mission statement and the vision statement respectively. A financial analysis is also conducted to find out the market strength of the firm both by in-house and external aspects. In order to understand the processes adopted by the organization and the degree to which they are fruitful Expertise Level Analysis is conducted. This is also helpful in identifying the level of efficient skill in a staff.

Keeping in mind the corporate values these analyses help identifying the weak areas from the stronger one and the departments or divisions which are showing aversion from the organizational goals and objectives. This allows data to be summarized as useful information that can now be processed to attain better productivity by channelizing resources and energies to the operations that need support and improvisation.

Upon completion of these analyses and processing information according to the needs a scorecard is built according to the goals and needs of the organization to get a better understanding and grip on measures, controls, performance and improvisation procedures. This helps in formulating a strategy that links and finds the best fit of organizational needs versus the improvement requiring areas to collectively map out the measurements and targets.

Once the targets and objectives are set, the perspective metrics are chosen from the predefined categories that are assigned weights and scores for the purpose of actual rating of the activities related to job or processes.  This calculation based process is made very simple by the Balanced Scorecards which has built in complicated formulas like normalization and other related performance calculation. With our technological driven solution, we do not only save on time but increase our time responsiveness towards organizational issues.