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Balanced Scorecard Principles
Keys to success
10 Underlying principles for
Effective Strategic Management and Performance Management
using a Balanced Scorecard based management approach
1. If you don’t know where you want to go, you are unlikely
to get there.
2. Be absolutely clear what you are using your scorecard for.
3. It is about cause and effect.
4. It is about balance.
5. Measure what you want to manage, (not manage what you can
measure).
6. Never, never, never, ever start a scorecard project with
measures.
7. Make sure you are explaining and communicating the strategy.
8. Be clear about the themes of your strategy and how they relate
to Balanced Scorecard perspectives.
9. It’s a collective endeavour – it's about collective
understanding.
10. Strategy evolves, you learn from its execution: Management
is about testing and learning from its execution. Performance
management needs to reflect this.
11. Making it strategic relies on top level sponsorship: get
it, or be operational.
OK, there are 11. But, we couldn't
miss the last one out, could we?
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