Welcome to Sitt's blog! In this blog, we will explore how strategic planning, Balanced Scorecard (BSC), can elevate the quality of our processes and ensure the success of our projects.
The Balanced Scorecard (BSC) is a strategic management tool that transforms strategy into measurable and concrete actions. Developed by Robert Kaplan and David Norton in the 1990s, the BSC focuses on four key perspectives:
- Financial Perspective: How do we view the company from a financial perspective? This measures profitability, revenue and cost management.
- Customer Perspective: How do our customers see us? This includes customer satisfaction, loyalty and customer acquisition.
- Internal Processes Perspective: What internal processes should we excel in? It focuses on operational efficiency, process quality and service innovation.
- Learning and Growth Perspective: How can we continue to improve and create value? This is where staff training, technological innovation and skills development are measured.
Mission: We are an engineering company that integrates agile, flexible, efficient solutions in the transit, transportation and mobility sector that promote the economic development of the country, as well as the quality of life of its citizens; recognized as experts in the structuring, implementation, operation and assurance of our projects, promoting technology and innovation, committed to sustainability, delivering value to our stakeholders.
Vision: To be the preferred partner in intelligent engineering and technology solutions for traffic, transportation, mobility and related sectors, encouraging constant innovation and promoting sustainability.
Based on mission and vision, a series of strategic objectives have been defined:
• Ensure compliance with Sitt's financial indicators
• Optimize the management of company budgets
• Structure and implement new business models
• Generating value in current and future projects
• Develop smart solutions that optimize products and services
• Promoting synergy between systems
• Securing IT infrastructure and information security
• Strengthen the organizational culture based on management, innovation and conciliation
• Foster innovation
Implementation of the Balanced Scorecard in Strategic Planning
Strategic Alignment
The BSC allows us to align our strategic objectives with our daily activities. For example, by ensuring compliance with financial indicators, the BSC is used to establish specific KPIs that monitor our financial performance. This alignment ensures that all areas and projects of the company work towards common goals, creating a synergy that optimizes our resources and efforts.
Strategic Map
The strategy map visualizes and communicates our strategy in a clear and concise manner. It allows us to see how each objective is interconnected and how it contributes to Sitt’s overall success. This map is an essential tool to keep all employees focused on the same goals and ensure that our daily actions are aligned with our long-term vision.
Benefits of the Balanced Scorecard in Process Quality
The BSC has brought numerous benefits to Sitt, especially in improving the quality of our processes:
- Improvement in Process Quality: The BSC allows us to identify and eliminate inefficiencies in our internal processes, thereby improving the quality of our services. By monitoring process-specific KPIs, we can implement continuous improvements and ensure that we are meeting the highest quality standards.
- Alignment and Communication: How do our customers see us? This includes customer satisfaction, loyalty and customer acquisition.
- Tangible Results: Significant improvements in profitability, customer satisfaction and operational efficiency can be seen through the implementation of the BSC. These tangible results demonstrate the value of well-executed strategic management.
Conclusion
In summary, strategic planning and the Balanced Scorecard are essential tools for Sitt. They allow us to align our objectives, monitor our performance and ensure that we are on the right path to achieve our vision and mission. Implementing the BSC can significantly improve the quality of our processes, operational efficiency and customer satisfaction.
We invite you to be an active part of this process and to share your ideas and suggestions to continue improving together!
Additional Resources
Recommended Readings:
- In your area, how do they use the perspectives of the Balanced Scorecard to align with Sitt's strategic objectives?
- What do you highlight about Sitt's Mission and/or Vision?
In my area, through the “Customer Perspective” we align ourselves with the objective of “Structuring and implementing new business models” because we are constantly seeking to retain our customers and attract new ones. We also conduct research to visualize where there are new business opportunities and how we can take advantage of them.
From Sitt's mission and vision, I highlight how innovation has been an important element in providing intelligent solutions in terms of mobility, which has led us to the implementation of technologies that are vital for sustainability, another element that is fundamental for us.
From the marketing and communications area, we use the Client's perspective to align ourselves with objective #3 of the BSC, strengthening Sitt's brand and portfolio through different communication strategies and marketing activities that allow us to build loyalty and attract new leads.
From Sitt's mission and vision, I would highlight its focus on agility, flexibility and efficiency, offering solutions that adapt to the changing needs of the sector, in addition to its constant innovation to stay at the forefront.
From the GH area we mobilize the learning and innovation perspective through objective 9 of Organizational Culture, where we have specific goals around the efr model, leadership, SST and strategic alliances, which additionally promote the sustainability of the company.
Regarding the mission and vision, I highlight its clarity and focus on generating value for stakeholders.
Good morning!
• In your area, how do you use the Balanced Scorecard perspectives to align with Sitt's strategic objectives? For example, in the accounting area, financial indicators allow us to know if we are above or below the goals of each one of them, in this way it is easy for us to measure different economic aspects of the business in progress.
• What do you highlight about Sitt's Mission and/or Vision? Both the company's mission and vision seek not only the growth of the company but also the development of the country through smart solutions and innovation.
Hello everyone… In my area we use the Internal Processes Perspective and the Learning and Growth Perspective, focused on objective 9 of Organizational Culture, seeking to encourage and promote different business initiatives, as well as improve the quality of life through the model of conciliation between person, family, and company.
Highlighting the mission and vision that is not only focused on business results, but also on contributing to the quality of life of citizens and generating sustainable cities.
Hello, good morning, I hope you are well 😀
In your area, how do they use the perspectives of the Balanced Scorecard to align with Sitt's strategic objectives?
In the accounting area, the BSC that is most used and consistent for analysis is the financial BSC, since it allows us to evaluate and take action on both positive and negative changes that are obtained.
What do you highlight about Sitt's Mission and/or Vision?
From the mission I highlight the theme of agility since it is a factor that we all seek due to the pace of society.
and the vision highlighted strengthening the organizational culture based on management, innovation and conciliation, since it is vital to strengthen it, since many times we miss out on reconciling and innovating, but the mission helps us not to miss something so important.