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So what planning horizon should I use for my balanced scorecard? 1 year, 2 years, 6, 10 perhaps? First recognise that different tools in the overall Balanced Scorecard approach to strategic management are for different planning horizons. Tangible future for 10 years, strategy map for 2-5 years, and scorecards measures for 12-24 months, whilst targets [...] The question was asked, how do you manage risks with the balanced scorecard and how is risk management integrated with the balanced scorecard? I’ve been thinking about this and asked myself the question, “Why would the balanced scorecard not include the management of risk?” A little thought brought me to three conclusions: * The first [...] At an Institute of Director’s economic briefing in November, the Chief Economist of the IOD said that we are still facing uncertainty, its just that the uncertainties are changing. I think the uncertainty continues to change, especially with impending elections and economic fog. Therefore I find two tools most useful in this time of uncertainty [...] How do you handle rapidly evolving and changing strategy with a balanced scorecard? Today I opened my email and found out that my “BT yahoo search is now powered by the nations favourite search engine – Google!”. Yes Yahoo uses Google. It is hard to believe that these rivals from only a few years ago [...] How your balanced scorecard should be helping you in this economic climate (part 1) The current environment is an excellent test of your balanced scorecard. Does it still serve you well as the economy changes, with credit tightening, interest rate and exchange rate changes, with concerns over governance (just ask a banker), as you need [...] |
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