| Topic : Developing Strategy with the Balanced Scorecard |
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Implementing Balance Scorecard for performance management
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Activity:
35 views;
last activity : 07 06 2010 20:18:09 +0000
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Organizational alignment to build individual and collective accountability
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Data driven decision making
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A clear numeric method of defining strategies and accountability
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Planning, mesaurement and development
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Improved transperancy and communications
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As a communication tool to publicise the vision and strategy in action
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the process of developing a strategy focussed organization is very difficult and balanced score card helps in developing one
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balanced scorecard gives an opportunity to measure the facts and hence in driving a data driven decision making.
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Yes,
I agree it may help to do that....http://nillhill.blog.friendster.com/
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The issues is everybody is talking about vision,mission,goals & strategies but nobody was able to be precise on what to achieve.Quantifying them seemed to be the core of success in taking the organization ahead.So the challenge was to divide the all the goals into areas which she all encompass almost everything the organization needs to do to and align individuals to achieve those goals.That is where the 4 perspectives (Financial,Operational,Customer,Learning & Growth) came into picture. The goals and the needs & measure of success for each organization is UNIQUE. But perspectives almost remain the same.According to BSC,the organization needs to define the key measures of success for each perspective.Here we come to KPIs.We have to define them at top level and gradually break it down to bottom level KRAs for individuals. Remember the top down approach is very essential as the CEO & Top level strategist know where the organization should go. They should drive the BSC deployment.Unless the organization shall move into be a autopilot where they would never have control as bottom level operational managers would sway it according to their convenience. So it ideally should acertian the accountability top-to-bottom and clearly define the individual contribution to towards the organizational growth. |
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builds employee buy in and helps in giving an organizational level transparency
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Utilizing a balanced score card in business can really help a lot. A balanced score card approach can:
~Get Business Consulting Services. The Clerical Business Solutions Company provides business consulting services specializing in strategic planning, business management and strategic management. |
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