Updating the global scorecard

The scorecard lets them introduce four new management processes that, separately and in combination, contribute to linking long-term strategic objectives with short-term actions.(See the exhibit “Managing Strategy: Four Processes.”) —helps managers build a consensus around the organization’s vision and strategy.The scorecard allowed companies to track financial results while monitoring progress in building the capabilities needed for growth.The tool was not intended to be a replacement for financial measures but rather a complement—and that’s just how most companies treated it.Used this way, the scorecard addresses a serious deficiency in traditional management systems: their inability to link a company’s long-term strategy with its short-term actions.

updating the global scorecard-78updating the global scorecard-44updating the global scorecard-20updating the global scorecard-32

The third process——enables companies to integrate their business and financial plans.

Almost all organizations today are implementing a variety of change programs, each with its own champions, gurus, and consultants, and each competing for senior executives’ time, energy, and resources.

Managers find it difficult to integrate those diverse initiatives to achieve their strategic goals—a situation that leads to frequent disappointments with the programs’ results.

After agreeing on performance measures for the four scorecard perspectives, companies identify the most influential “drivers” of the desired outcomes and then set milestones for gauging the progress they make with these drivers. Thus, at any point in the implementation, managers can know whether the strategy is working—and if not, why. By going beyond traditional measures of financial performance, the concept has given a generation of managers a better understanding of how their companies are really doing.

By supplying a mechanism for strategic feedback and review, the balanced scorecard helps an organization foster a kind of learning often missing in companies: the ability to reflect on inferences and adjust theories about cause-and-effect relationships. These nonfinancial metrics are so valuable mainly because they predict future financial performance rather than simply report what’s already happened.

Leave a Reply

  1. 2014 sexchat 01-Nov-2019 11:24

    You can sign up for a loyalty rewards membership with Uncut DVDs to earn Loyalty Rewards Points that can go towards further money off your purchases, and present you with a free gift on all orders over 0.

  2. investment dating 02-Oct-2019 02:02

    At the time, no radiation-detecting instrument (such as a Geiger counter) was sensitive enough to detect the small amount of carbon-14 that Libby’s experiments required.

  3. datingnl 19-Dec-2019 01:55

    This is an example of where a precise and unflattering word is effective (doesn’t quite make up for the ‘fleisch’ and the ‘speck’, however).

  4. Sex adult chat 3d game free 18-Oct-2019 02:33

    Chat Forum One is open to all and you can chat using a mobile phone or tablet - no registration required.

  5. storm large dating 25-Jan-2020 14:51

    Don't ask your friends to tell you everything they can because you can end up with a tainted view of what to expect.

  6. 1 on 1 sex webcam with random people 06-Feb-2020 17:48

    Performers would come to a studio where they received a cubicle, coaching, and cash incentives to keep callers on the line longer.