HOW THE BALANCED SCORECARD CAN IMPROVE PERFORMANCE “Competitive advantage is achieved through operational capability” Do all the teams and people in your company know what strategic priorities and results they support and need to deliver?
Many a word has been spoken about strategic alignment and harnessing the sum total of every person’s efforts to produce exceptional corporate results – but how does one do this practically? The Balanced Scorecard is a tried and tested method of interpreting and mapping enterprise/ company strategy (and the key drivers of performance) into clear, balanced, measurable objectives and targets, which form the basis of cascading and communicating performance priorities throughout the organisation. The Balanced Scorecard was developed by Norton & Kaplan as a response to their research findings that organisations where executives focused on a balanced agenda in managing the business were more successful when measured against a variety of indices. Furthermore they were better able to sustain their performance. We believe that this provides a powerful motivation to adopt this approach particularly where there may be some resistance to non-financial and “softer” measures. The approach to strategy
Related Questions
- HOW THE BALANCED SCORECARD CAN IMPROVE PERFORMANCE "Competitive advantage is achieved through operational capability" Do all the teams and people in your company know what strategic priorities and results they support and need to deliver?
- How Do You Measure Operational Risk In The Balanced Scorecard Approach?
- What is an example of a competitive advantage achieved with VCM?
