Building Strategy - Focused Organizations with the Balanced Scorecard
In today’s competitive environment, financial measures
are not enough to gauge performance. Organizations, both for-profit and nonprofit,
need to develop a Balanced Scorecard approach to measure objectives and targets
and develop strategy. But developing strategy is not sufficient—the challenge
lies in implementing it.
The Balanced Scorecard, a new management
approach, supplements financial measures with non-financial measures related
to customers, internal processes, and learning and growth objectives. We will next
discuss how to use this approach to successfully implement strategy using
a Balanced Scorecard strategy map—a framework for organizing measures
and objectives into a coherent strategy.
Case studies will be presented such as Mobil and the Boston Lyric Opera
to show how organizations can use a customized Balanced Scorecard strategy map
to close the management gap between vision and implementation and successfully
implement strategy throughout their organizations. Strategy is driven down to
the front lines and back up to management so that all employees can understand
and help implement it.
Understand the Balanced Scorecard approach.
Apply the Balanced Scorecard approach to your organization.
Understand how to become strategically focused.
Design a Balanced Scorecard strategy map for your organization.
Implement the Balanced Scorecard strategy approach throughout
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