Balanced Scorecard for Strategy Execution
Why do companies with a well thought through strategic roadmap not reach their destination? "Corporate strategies are intellectually simple; their execution is not. The question is, can you execute? That’s what differentiates one company from another."
"Many organizations spend a significant amount of effort and money creating lofty roadmaps for success that, more often than not, do not lead them to their intended destinations. The reason companies lose their way is not because they are unable to craft a good strategic roadmap; it is because they don’t have the mechanism in place to keep their cars on the road. Tools like the balanced scorecard help organizations effectively clarify their strategy in a holistic manner, communicate the strategy to all stakeholders, align all departments behind the strategy, and measure strategic performance. Without connecting the scorecard’s road map for success to the management processes that steer the business, true value creation will remain elusive. Integration of these critical management processes enables companies to effectively execute strategy and to reach their intended destinations. And, to paraphrase Robert Frost, that can make all the difference."
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Posted on 02/14/2011 by