Balanced Scorecard by Dr. Robert Kaplan and Dr. David Norton is one of the strong tools available currently in supporting the companies to get clear of their strategy and to do holistic, organization wide implementation. Strategy Maps and Balanced scorecards are very useful tools for strategy planning, communication, monitoring, evaluation, course correction and overall implementation.
Ensuring that the strategy implementations is done powerfully on all the 4 perspective of Finance, Customer, Process and Capability perspectives, organizations can ensure that on a daily basis they are moving forward in the strategy implementation.
Highly committed and transformed organizations also have couple of other dimensions including Impact on Society.
Different organizations depending on their genre will have different focus, e.g. government, NGO and similar organizations may not be highly focused on the financial perspective.
R&D organizations, Manufacturing Organizations etc., may have extra focus on the process perspective.
“Learning organizations” may focus more on the capability, learning and growth perspective.
But each and every organization committed to sustainable growth have to have balanced growth.
Team alignment, each department scorecard, each individual scorecard, the vertical and horizontal alignment and the lead and lag measures are very useful dimensions of implementing strategy the BSC way.
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