The perspectives of the Balanced Scorecard help to establish a cause-and-effect logic for the strategy map. Learn how to properly map business goals into the Finance, Customer, Internal Processes, and Learning and Growth perspectives. Part 1: Understanding Balanced Scorecard Why these four perspectives? What do we map inside? How to come up with the relevant … Read more
Even the best business systems need to be revised and updated regularly. Use the checklist below to audit your Balanced Scorecard, find possible problems, and fix them during the early stages before they result in bigger issues. There are a number of typical problems that a company’s strategist faces when implementing the Balanced Scorecard framework. … Read more
Who else wants an easy to follow Balanced Scorecard implementation guide? Here is a simple 5 step formula that will help to create and implement a business scorecard that will actually work and that you can be proud of. This formula was tested by our clients, and we have had some positive feedback. This formula … Read more
The Balanced Scorecard is a popular strategy execution framework. In this article, we’ll explore the possibilities of applying this business tool on a personal level. Why get started with a personal Balanced Scorecard: Case 1. Learning the BSC concept Case 2. Mapping personal goals Case 3. Preparing for scaling business Case 4. Personal employee … Read more
What are the strengths of this framework and where do we need to yet improve it? I have already alluded to a need for more than four dimensions. In fact, I propose eight. To make them easier to remember I named them all by starting with a letter M. These dimensions are: Management, the foundation … Read more