KaizenTip 113:: Balanced Scorecard meets the Kaizen Wheel Most organisations will have a number of performance measures or KPI’s. Sometimes these are displayed via a ‘dashboard’, ‘scorecard’ or ‘steering wheel’. The difficulties some businesses have are: So for those of you involved in any aspect of performance management, here is your call to action:
This week’s Kaizen Tip was written by Martyn Haworth. You may already be familiar with the Kaizen wheel that shows a framework for Continuous Improvement. Within this tool are six segments that, together, can drive performance in the areas of people, process, customer and finance. If you’ve not seen or heard of the wheel before, the six sections are:
Combined with the preferred measurement tool, the Kaizen wheel can incorporate these measures in each segment to ensure continuous improvement of performance. For example, two key measures in each segment means a total of twelve indicators all dedicated to CI. Once a ‘baseline’ is identified for each measure, future targets and review frequency can be set. Accountability for each measure can be agreed with the right owner who is then responsible for driving its performance with the support of the team. A simple ‘banding’ can be applied that will show each indicator a ‘colour’ that reflects the result to target every week, month of quarter as follows:
If you’d like to discuss any aspects of continuous performance improvement, contact us at directors@kaizen-training.com