Balanced Scorecard is not Strategy
Harvard Business Publishing is again pushing its balanced scorecard stuff, but under the misleading strap-line Strategy has never been more important. Don’t get me wrong - BSC is a much better tool for on-going performance management or for strategic initiatives than the crude finance-only metrics that too often dominate, but it’s a very long way short of being a strategic management. A few shortcomings: Read more
The balanced scorecard
A large Management Development community I track has been discussing how we could have prepared people better for the current troubles, and some have advocated the Balanced Scorecard [BSC]. I have used BSC in strategy teaching for some years, and come across BSCs in many companies. My impression is that, whilst it is a valuable extension to standard financial reporting systems, it has some limitations as a tool for managing strategy – limitations that the down-turn has exposed quite sharply.