New Corporate Balanced Scorecard Improves Transparency and Connection to Strategic Goals

In April 2023, Santee Cooper created an Operational Excellence business unit, focused on a revised strategic approach to performance intended to optimize operational workflows and processes. One of the unit’s first tasks was to develop a corporate balanced scorecard.

Simply put, a corporate balanced scorecard is a performance management reporting tool used for comparing current company activities with the planned objectives and results. In other words, it acts as a roadmap for all team members to help achieve strategic goals.

The overarching components of Santee Cooper’s scorecard are rooted in our mission and values, and they follow four key objectives – people, perception, performance and profitability. This helps our team understand how our work connects with short- and long-term goals.

“The new corporate balanced scorecard will give our team members a clear and transparent view of our strategic goals and the progress we’re making toward reaching them,” said President and CEO Jimmy Staton. “I’m eager to be able to share objectives, metrics and progress with our team, and provide an actionable line of sight between what Santee Cooper is striving to achieve and how each team member contributes to our success.”

Additional benefits of a corporate balanced scorecard include improved communication and strategic alignment between departments, comprehensive measurement of performance on Santee Cooper’s priorities – both non-financial and financial - improved decision making, and a focus on innovation and process improvement.

The work to develop and revise the components of Santee Cooper’s corporate balanced scorecard included thoughtful and intentional collaboration with leadership and subject matter experts across all lines of business. The Operational Excellence team, led by the Director of Operational Excellence Julie Jordan, also conducted benchmarking against other public power utilities.

These strategic discussions and fact-finding exercises resulted in focus areas related to each of our four key objectives. The scorecard then utilizes measurable key performance indicators (KPIs) to evaluate progress.

“The Corporate Balanced Scorecard will deliver value across multiple dimensions by utilizing the ‘4 Ps’ as a framework. With this framework, we can keep key priorities squarely in sight and deliver sustainable results,” said Jordan. “The scorecard will be available to all team members, allowing them to see a complete overview of how we assess and measure Santee Cooper’s success.”

Santee Cooper’s key objectives and focus areas include:

Santee Cooper’s Corporate Balanced Scorecard is scheduled to be live and introduced to all team members during the second quarter of 2025.

“I am especially grateful to everyone who has been involved over the past year in helping develop the scorecard. This is a true, ongoing team effort that will greatly benefit Santee Cooper, our teammates and our stakeholders,” said Jordan.