What does the tool measure?
The Third Sector Performance Dashboard tool was formed from the Social Firm Performance dashboard. Designed by Social Firms UK for Social Firms to measure aspects of their business, the tool enables organisations to examine areas that need to be improved or developed. The dashboard is based upon Balance Scorecard principles.
Who can use the tool?
The third sector performance dashboard can be used by third sector organisations and social enterprises and firms, of varying sizes. It is useful for organisations who are looking to examine elements of their organisation, such as; financial aspects, governance, customers or external stakeholders, performance or environmental, people and work life balance and marketing and communications.
How does the tool/approach work?
Measuring the ‘balance’ an organisation has across its main sectors, with flexible templates for the objectives being explored, the Third Sector Performance dashboard takes into account time limiting factors that may be experienced by Third Sector organisations. The dashboard can be useful for organisations looking to explore their performance levels against their importance goals in a clear manner. Reports can be produced internally and adapted for external use, also.
Available on a CD-ROM, the third sector performance dashboard utilises a ‘traffic light’ system which is used to monitor progress towards the measureable objectives that the organisation wishes to achieve. The results are a simple way of sharing information on progress with stakeholders.
By using the software, organisations can log and monitor progress in six different elements of their activities (these can be tailored to the needs of the organisation). Up to eight objectives can be linked to each element, along with related performance measures and a performance report can be generated for each objective. The standard elements are:
- Customers or external stakeholders
- Performance or environmental
- People and work life balance
- Marketing and communications
How to get started and further information
The Third Sector Performance Dashboard is available on a CD-ROM. It is available to non-members at a cost of £108 and for Members of the Social Enterprise Coalition (SEC) and NCVO it is available at a rate of £60. The tool is available free to members of Social Firms UK. There is also availability for national third sector support agencies in other countries for an initial fee, to obtain licences.
Further information in reference to valuing social firms can be found on the Social Firms UK site: http://www.socialfirmsuk.co.uk/about-social-firms/-value-social-firms-and-proving-it