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Managing with the Balanced Scorecard

Posted October 28, 2009 8:21 AM by Ted Jackson

Building a Balanced Scorecard is fun. We have been helping organizations determine what their strategy map, measures, and initiatives are for over 10 years. The process and the product are both enjoyable. Imagine spending time waxing on about your strategy and your objectives. Looking at your past performance and pondering the future opportunities. Your leadership team then gets together to debate the one-page view of your strategy, the strategy map, as Norton and Kaplan call it. This is fun stuff.

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Great information.... I would like to add more that Balanced scorecard is basically a tool for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy. A must tool for all the businessman. I got to know more about this topic on FINTEL's website. Subscribe to this site and update your knowledge.
# Posted By Business Scorecard | 11/10/09 6:53 AM
We are a 100 person firm and in July of 2009 implemented the BSC across our company. It represented the first time this had ever been done in the six year history of the company. Our firm is filled with Operations people and analysts with advanced math and statistical modeling skills. Measurement is in their blood. Communication is the area we find the most difficult. Consistently communicating the strategy and results and making it impactfull to every employee is a challenge. Insight on succesfull strategies there would be helpfull.
# Posted By Jay Heroux | 11/10/09 8:51 AM
Jay, Sorry for my late comment. Communication is critical. A commonly said mantra is "7 times in 7 ways." This means that if you want people to hear something, you must say it sever different times though different mediums. One of the most effective things that I have seen is just to get the leadership team to practice talking through the strategy map.

Then start getting your leaders to ask their direct staff how they contribute to the strategy. People start paying a lot more attention if their boss is comfortable with the framework and seems to be paying attention.
# Posted By Ted Jackson | 12/13/09 8:44 PM
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