Balanced Scorecard Implementation

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We discussed the process of designing and implementing the Balanced Scorecard in the eTraining, “Practical Introduction to the Balanced Scorecard,” available at www.ScoreCardTrainings.com.
In this bonus mini-lesson, we will focus on the implementation plan for the Balanced Scorecard.
It will require a significant investment to design a Balanced Scorecard for your company and put it into use. As a result, it is obviously necessary to create an implementation plan.

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Balanced Scorecard Implementation

  1. 1. Balanced Scorecard Implementation<br />A bonus mini-lesson from www.ScoreCardTrainings.com<br />
  2. 2. Implementation plan for BSC<br />We discussed the process of designing and implementing the Balanced Scorecard in the eTraining, “Practical Introduction to the Balanced Scorecard,” available at www.ScoreCardTrainings.com.<br />In this bonus mini-lesson, we will focus on the implementation plan for the Balanced Scorecard. <br />It will require a significant investment to design a Balanced Scorecard for your company and put it into use. As a result, it is obviously necessary to create an implementation plan.<br />Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.<br />
  3. 3. What should implementation plan include?<br />First, you should know who will be involved in designing your Balanced Scorecard. <br />Your top managers are not enough! <br />To successfully implement the Balanced Scorecard, you must involve all key members of your team.<br />Second, you need to decide what software tools you will use to support the Balanced Scorecard.<br />If your company is very small, MS Excel might be enough. <br />In a larger company, you will definitely want to consider using some automation tools. <br />BSC Designer software, available at www.BSCdesigner.com, includes a freeware edition, as well as a 30-day free trial of professional edition.<br />Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.<br />
  4. 4. Add more details to implementation plan<br />You need to decide who will design your indicators and strategy maps, and who will combine your scorecards into a cascade.<br />You need to plan to update and revise your Balanced Scorecard. <br />After one or two months, you will need to evaluate the scorecard, and find out how well it works in your company.<br />And you need to decide how to implement the Balanced Scorecard in your company. <br />Which business units will use the scorecard? <br />What business problems do they have, and how can you use the Balanced Scorecard to solve those problems?<br />Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.<br />
  5. 5. Three different viewpoints<br /> Your implementation plan should also include three different viewpoints:<br />Business problems and strategic goals: your Strategy Maps. <br />Measurement and improvement: your Key Performance Indicators.<br />Line-level actions: the Initiatives that link actions and indicators together.<br />Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.<br />
  6. 6. Learn more<br />To learn more about the Balanced Scorecard, please visit www.ScoreCardTrainings.com.<br />Copyright © BSC Designer. More Balanced Scorecard Trainings at www.scorecardtrainings.com.<br />

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