Struggling To Implement The Balanced Scorecard?
The Balanced Scorecard (BSC) is a strategic planning tool and system used to help companies and organisations with the following:
- Communicate what they are trying to accomplish;
- Align the day-to-day work that everyone is doing with strategy;
- Prioritize projects, products and services; and
- Measure and monitor progress towards strategic targets.
What Are The 4 Quadrants Of The Balanced Scorecard?
The balanced scorecard keeps companies and organisations looking and moving forward instead of backward according to the following perspectives:
- How do customers see us? (Customer perspective)
- What must we excel at? (Internal perspective)
- Can we continue to improve and create value? (Innovation & Learning perspective)
- How do we look to shareholders? (Financial perspective)
Some Of The Challenges Organizations Face With BSC Implementation
Organizations are sometimes challenged by understanding how to connect the dots between the strategic objectives the organization is trying to accomplish, and its mission, vision and strategy.
The other challenge likely being faced is how to put strategy and vision at the centre and with a clear road-map with measures on how to translate strategy into action, connecting functional, departmental and corporate levels.
Do You Need Help To implement The Balanced Scorecard In Your Organization?
We work with your team and provide expert guidance on how to successfully implement and use the balanced scorecard.
Many organizations are asked to implement the BSC, without adequate support and guidance.
We provide expert guidance and support via appropriate workshops and helping your people understand the length and breadth of how to unpack the strategy and adopt the balanced scorecard, in a smart way that makes sense and can be applied in a fuss-free manner.
Once staff know where they fit in and how the BSC impacts them, they buy into the process and support the strategic direction of the organization in a cohesive manner.