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The Balanced Scorecard Approach

19 May 2022   By   Share

The Balanced Scorecard Implementation

A Sizeable Project

We begin to understand that it is not enough to add dashboards here and there with indicators picked in various places, measuring any of these perspectives or the four of them, saying "That's it! We are designing Balanced Scorecard!". It is important not to stick to this one teaching.
The "Nirvana of the ultimate method" is not as easy to access. Besides, talking about the importance of non-financial indicators is a stereotype for consultants looking for a niche.

A Radical Reform

The implementation of specialized tools is only the last step and not the body of the project. It is also the easiest step. Let us not forget that beforehand, we must develop a practical and realistic strategy, conform to the model defined by Robert Kaplan and David Norton.

It is a fundamental reform of the management and minds of all corporate staff that needs to be undertaken. The establishment of the Strategy Map (identification of causal links) and its application are otherwise more complex than setting tools. It requires other skills.

It is not a homeopathic approach that has to be adopted but a real constructive surgery. The operation is complicated and the side effects on the modes of the company's mechanism are more than consequent.

The Balanced Scorecard is not a "thing" that is added just like that, thinking that tomorrow, with this new tool, everything will be damned better! It will drive you crazy when you try to apply them within companies, SMEs or not, with their own effective conceptions of strategy, probably effective by the way.

For the method to be operational, the process of "conversion of minds" has to be followed from beginning to end.

An Advice: Keep the method only for companies that do not develop strategy (there are many) and are willing to accept standard and square principles of operation (there are much fewer...).

Be Careful: The project is long and very expensive. When preparing the budget, in order to convince employees and polarize the actions, the time spent by all executives in integrating this new way of thinking has to be considered.

What is a performance dashboard?

A performance dashboard is not a checking instrument anymore.
It is performance measurement tool, a key to progress approach.

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