The Balanced Scorecard evolved from a measurement system into a complex strategy execution framework. Today it helps companies all over the world to describe and execute their strategies. Properly implemented BSC is supposed to help any organization, but we often hear that managers have faced some difficulties, in which BSC did not work, and that … 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
A good strategy implies coherence between objectives at each level of organization. In strategic planning, this coherence is achieved by cascading or alignment of strategy scorecards. Cascading method 1: Alignment by perspectives. Cascading method 2: Alignment by normalized goals. Cascading method 3: Direct cascading by KPIs. Cascading method 4: Alignment by context. Key topics: The … Read more
Balanced Scorecard Software Introduction Sign-up Free Plan Pricing Customer Support User Tutorial Case Studies Other BSC Products BSC Toolkit Free Strategic Planning Training Articles Balanced Scorecard Examples Advantages and Disadvantages of the Balanced Scorecard Framework Strategic Planning Process
What are the best KPIs for a hotel? How can one apply the Balanced Scorecard approach to hotel management? Find an example of a strategy map with objectives and KPIs for a hotel business. Here are key topics of the article: Hotel KPIs Hotel Balanced Scorecard An Example of a Strategy Hypothesis Balanced Scorecard in … Read more
Build a solid base for discussion and execution of your organization’s strategy. Learn how to create a single-page strategy map following step-by-step guides and using examples. Part 1. Guides: How to Create a Strategy Map in 8 Steps + Infographic Typical Mistakes Part 2. Templates: Strategy Map PDF Template 10 Strategy Map Examples The term … Read more
Find below the list of the ready-to-use KPIs for a dental practice. It makes sense using these KPIs as a part of your Dental Practice Business Scorecard. If you are looking for an example of a more general scorecard for a healthcare organization, then we recommend to check out this hospital scorecard template. New Patient … Read more
A Practical Perspective on Managing Risks in Strategic Planning Using ISO 31000 as a Guiding Standard. Introduction: Defining Risk Beyond Probability and Impact The guiding standard in the domain of risk management is ISO 31000. It’s intriguing to observe the evolution of the standard’s definition of risk over time: The previous ISO definition of risk: … Read more
As an experiment, we’ll describe the same strategy using the Hoshin Kanri and the Balanced Scorecard frameworks to see the advantages and the limitations of both business tools. Both Hoshin Kanri and the Balanced Scorecard are strategic planning frameworks. In this article, we’ll review the Hoshin Kanri framework briefly, and as an experiment will describe … Read more
Banks can no longer base their strategy on financial indicators only. In this article, we will build a Balanced Scorecard for a typical retail bank. We will analyze emerging trends, possible response strategies, and relevant KPIs. The content of the article: Emerging Challenges for Retail Banking Any business is about trust, and retail banks are … Read more