| Balanced Scorecards |
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The popularity of the Balanced Scorecards (BSC) approach among
strategists, executives, controllers, and -last not least- HR personnel
is stronger than ever. The reason: Successful BSC projects
bridge, in an ingenious simple way, the gap between strategy
development and strategy deployment. The result: An enterprise-wide
reporting system that can delight both operational and strategic
controllers.
The introduction of a BSC system helps strategists create a balanced set of strategic goals. Balanced here means that at least perspectives of finance, processes, markets, and the internal organization are covered. Though depending on the activities of the business, many other perspectives can be considered as well. The company's strategic goals are described in their mutual relationships ("Strategy Map"), then connected to appropriate metrics ("KPIs" or " Key Performance Indicators") and finally represented in different business areas and hierarchic levels. At best, every employer in the enterprise knows at any time to which strategic goal he or she contribute, which measures are appropriate to do so and how close he or she is already in meeting the target. Today, BSC methodology has proven impressively its potential in different industries and different countries. A range of certified BSC-tools are on the market, most of which can be integrated seamlessly in the intranet of an enterprise. Currently, innovative thinking is required foremost for the identification of new Key Performance Indicators. An especially promising trend: The representation of Customer Relationship Management metrics on a dedicated CRM-Scorecard. |