Skandia Navigator

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What is the Skandia Navigator? Description

The Skandia Navigator is a collection of intangibles measurements methods, pioneered by Leif Edvinsson at Skandia. The Navigator comprises a holistic view of performance and goal achievement. The architecture of the Skandia Navigator is simple yet very sophisticated. Five focus areas or perspectives capture different areas of interest. Each area visualizes the value creation process. The Skandia Navigator facilitates a holistic understanding of the organization and its value creation along 5 focus areas:

1. Financial focus of the Skandia Navigator captures the financial outcome of our activities. Some like to see it as a receipt. It is here where we establish the long-term goals and also a large part of the overall conditions for the other perspectives. This could be profitability and growth that our shareholder demands from us.

2. Customer focus gives an indication on how well the organization meets the needs of its customers via services and products. For example, how much of our sales is deriving from new customers? When compared with existing customers? Or how loyal are our customers? It represents a view that looks from the outside towards the inside of the company. It is of importance that we define our customers' needs.

3. Process focus of the Skandia Navigator captures the actual processes of creating the services and the products which our customers desire. It covers questions like how do we handle our customer support? This focus area is also connected to the internal processes. Are we working in an efficient way? Are we working in a correct manner? Connected to this could be the importance of structural capital.

4. Renewal and development focus aims at reassuring the organizations long-term renewal and in part its sustainability. What steps and actions should we take now to ensure long-term growth and profitability? What is required so that the company can attain and develop the knowledge that is needed to perceive and satisfy our customers needs?

5. Human focus of the Skandia Navigator is the heart of the organization and is essential in an organization that creates value. The process of knowledge creation is visualized in this focus area. It is also essential that the employees are happy with their work situation; satisfied employees lead to satisfied customers, improving the company's sales and result.

Book: Leif Edvinsson - Corporate Longitude

Book: Baruch Lev - Intangibles: Management, Measurement, and Reporting

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