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Implementing the Balanced Scorecard

Submitted by admin on Thu, 23/12/2010 - 4:37pm

The strategy map will be used as the foundation for the development of a Balanced Scorecard (BSC). To create the value that we want, we need a control or measurement system.

The Balanced Scorecard is specifically developed to monitor the progress of your strategy in the different aspects of the organization. This means that the Balanced Scorecard is populated with financial measures, customer value measures, internal processes, and the effort in human capital and innovation.

The Balanced Scorecard supports taking strategic initiatives that close the gap between actual and targeted performance. Organizations usually do not have a shortage of strategic initiatives but the difficulty is to select and prioritize them. The essence is doing the right things right.

B&M advises its clients on target setting methodologies. Strategically linked targets are powerful techniques to guide the effort and attention of people towards strategic objectives. We monitor internal consistency between targets and we focus on targets that motivate the right organizational behavior.

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Implementing the Balanced Scorecard

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