One of the difficulties with strategic away days and strategic planning days is in their name: they are only a day. Last week I had a day and a half with a team: A team that hardly new each other as they were coming from four different countries and Operating Companies within the same group. [...]
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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 [...] You might be wondering whether you should use a Balanced Scorecard for strategic planning process. Here is my response to that very question. Don’t use “a balanced scorecard”: use “The Balanced Scorecard Approach”. The Balanced Scorecard approach is an effective, systematic approach to capturing strategy (Strategy maps), Planning (the alignment between strategy maps and scorecards) [...] 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 [...] |
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