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Strategy is about change and improvement, so Strategy maps have to reflect that change and balanced scorecards have to be able to track that change to manage performance. Modern, third and fourth generation, balanced scorecards have strategy maps. These contain the objectives from which balanced scorecards can develop their measures, targets, actions, responsibilities. Strategy is [...] Are BSC implementation for building Strategy Execution and BSC for Performance Management issues actually two different projects? Do they actually have different agenda, work flow, stakeholders involved, pitfalls, and require different expertise and skills from consultants? This was a recent question on a forum: Here is my answer: The ambiguity is in the question because [...] How do you measure sustainability using the Balanced scorecard and an Environmental Strategy Map This question actually raises two separate questions How best to measure sustainable and environmental activities and strategy? How do I represent them on my strategy map and in my balanced scorecard? An Environmental Balanced Scorecard I often get into discussions about [...] Principles of Effective balanced scorecards part 8 “Who cares? It better include the Chief Executive” Now you can certainly do scorecard projects without the strategy: Without a strategic intent. What happens is that the “Do a scorecard” message comes down from the top, but there may be little guidance as to what is wanted. Involvement [...] Principles of Effective Balanced Scorecard Part 7 “The ability to learn faster than your competitors may be the only sustainable competitive advantage.” Arie de Geus Whilst chatting with a manager of a largish organisation I suggested it was useful to think about organisations and how they learn, in the same way we think about people [...] Principles of Effective Balanced Scorecards Part 6 “Of course we have a scorecard. I designed it at home the other evening” Very early on in my Balanced Scorecard career I heard a lovely story. Some of my colleagues had been to see a potential client about some scorecard work. It turned out he had one [...] Principles of Effective Balanced Scorecards Part 4 “The person who says it cannot be done, should not interrupt the person doing it.” Chinese proverb. I’m reminded of this every time I work on measures for performance management in an organisation. As you read this, just imagine you are in a workshop developing measures for your [...] Principles of Effective Balanced Scorecards Part 3 Like many organisations, this FTSE 100 Company’s executive team had a vast amount of data at their fingertips. Their monthly report contained around 120 measures. The Chief Executive could drill down to individual retail outlets, and look at Saturday’s product sales for all their categories, first thing Monday [...] Principles of effective balanced scorecards Part 2 “Our Balanced Scorecard is an unfocussed mess.” Many years ago I was chairing a Balanced Scorecard conference. There were over 120 organisations represented and there seemed to be 120 different ways of doing the Balanced Scorecard being promoted. Over dinner I was sitting amongst a group of people [...] Principles of Effective Balanced Scorecards Part 1 Have you noticed how you notice what you are paying attention to? Are you paying attention to the letter t in this newsletter? I doubt you were, but you are now, and you can stop if you want. Likewise, when you get a new car that you [...] |
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