Corporate Management and Balanced Scorecard
The balanced scorecard approach (BSC) is an overarching framework for developing a well-balanced corporate management system. Balance in this sense refers to the consideration of financial, non-financial, external, and internal performance indicators.At the heart of BSC is the business strategy, which follows from the company’s vision and is transformed into strategic objectives, key performance indicators, target values, and steps to be taken. Objectives established in the strategy can only be achieved when they can be monitored by means of intelligible and operationalisable key performance indicators – true to the motto “You can‘t manage what you don‘t measure“ (Kaplan/Norton). Consequently, each objective is associated with a realisable, intelligible key performance indicator with a target value and monitoring of the achievement of the objective.
The process of setting objectives turns the business strategy into something that is tangible for the employees in their day-to-day work, and activities are then geared toward its fulfilment. In order for a BSC to be applied, it must be integrated into the management system, and reporting and planning processes must be adapted accordingly.
We assist you in establishing balanced scorecards in the department or company-wide. As part of this we provide you with the following:
- A modular process that can support you throughout the entire process or at defined points.
- Methodological expertise in BSC development, from the selection of strategic objectives to the regular (automated) measurement of key performance indicators.
- Clear focus on the essential elements with streamlined project management so that you don’t get lost in discussions of objectives and steps.
- Training and communication strategies to ensure that everyone is on the same page in terms of BSC development and use.
The technical expertise required for the preparation of strategy maps and dashboards in conjunction with the performance management and business intelligence services we provide.
Contact:
Oliver Knechtenhofer - Principal
knechtenhofer@callista-group.com