What To Do And What To Avoid With Bsc

How to succeed in Balanced Scorecard? Even if you attend the most expensive seminars

, even those organized by creators of the framework, Norton and Kaplan, you will barely get any definite answer. Sure, there are sets of rules, norms and requirements for a successful implementation of BSC. At the same time, all managers, both rookies and experienced gurus of the business world, should remember that the path to success is individual for every company. Something that works well for Sony may not work for Toshiba (just hypothetic examples, no advertising meant!).

The same concerns Balanced Scorecard. There are no universal methods of successful BSC implementation. There are no secrets that guarantee immediate and positive results. As mentioned above, implementation methods effective for company A may be a total failure for company B. At the same time, there are general guidelines and rules of BSC implementation that have to be taken into account when BSC is being implemented in whatever company, namely:

1) Implementation of BSC should be never commenced unless at least some managers and employees have a basic understanding of how Balanced Scorecard works. Unfortunately, this is a common mistake. Representatives of some companies, affected by advertising and promotional materials purchase software and metrics, rush to create a bsc project and totally forget about it in future. Even if they try to manage BSC, such attempts would rather do harm to their business.

2) Sometimes, companies hire really seasoned expert who are great at designing BSC projects. At the same time, it is impossible to succeed with BSC unless company insiders participate in implementation and maintenance of this framework. Therefore, even having the best bsc project it is impossible to move on unless company employees know what to do further. Hiring a consultant is a bright idea to get started. The best option, though, is to educate own personnel since company employees know better urgent problems, peculiarities of running business etc. Besides, feedback from employees is extremely important since often ordinary employees may have bright ideas on how to improve performance of a department or an entire company.

3) No hurry. Implementation of Balanced Scorecard is not a speedy process. No immediate results are possible. Thus, it is imperative to be patient. Implement BSC stage by stage. Bear in mind that mistakes at early stages may turn into disasters later. BSC implementation may imply massive investments, thus wasting them is not a good idea. Implementation of Balanced Scorecard may take up to a year or even more. Experts claim that the implementation process never ends, which means that BSC is being constantly improved and adjusted according to company goals and new market environments.

4) Carefully pick software and automation tools. Yes, success in BSC implementation largely depends on what instruments are being used. Choosing good BSC software can be a daunting task. Some companies prefer web based apps, while others opt for conventional desktop software.

5) Metrics have to be carefully chosen. Analysis of the wrong metrics is a direct path to hell.

by: Jaromto Twinds

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