Post by account_disabled on Feb 22, 2024 16:02:44 GMT 10
When we talk about the design and definition of the Balanced Scorecard (or Balanced Scorecard, BSC), we normally look at one of its main constituent elements such as objectives and strategy, or key performance indicators (KPI). However, we rarely address one of the most fundamental issues on which any CMI is based: the mission , business vision and values of the company . Today, and starting from the most characteristic function of the Balanced Scorecard as an eminently strategic tool (that is, supporting decision making based on monitoring the performance of key operations based on the adopted strategy), and reviewing briefly the indispensable elements of it, we will arrive at the definition of the mission and vision of the company as an unavoidable necessity, prior to the design and implementation of a Balanced Scorecard or BSC. From the purposes to the fundamentals of the Balanced Scorecard As a fundamental strategic tool, the Balanced Scorecard (or Balanced Scorecard) must have adequate strategic planning that, prepared prior to its implementation, guides and determines the monitoring of key operations, activities and processes of the company.
Only on a solid strategic plan, with first and second order objectives properly stated and a realistically defined tactic can a CMI be designed that adequately fulfills the functions assigned to it. Strategic planning that will also allow us to detect and establish the most appropriate performance indicators (KPI) for each case, always based Chinese Student Phone Number List on the results obtained from a meticulous analysis of business activity under the 4 perspectives that converge in the Balanced Scorecard. : internal processes , growth , financial and customer , which we have talked about repeatedly in this same blog and which are presented, in detail, in free resources such as the guide 12 keys to defining a Balanced Scorecard , available in the training solutions section.
Among these training resources, those interested in the subject will also find the guide (also free) Balanced Scorecard: list of key elements to have a comprehensive vision of the company , a brief ebook in which the fundamental elements of the Balanced Scorecard are referred to among the which, as we mentioned at the beginning, include the vision and mission of the company. After the review we have carried out, it is evident how important it is to define the business vision and the mission of the organization, elements that must determine in a decisive way the subsequent design of the strategic plan. Elements that, obviously, become essential to set objectives , establish the paths that guide their achievement , determine the relevant indicators and, finally, implement the CMI in the corporate environment. Fundamental components for the strategic governance of the organization , which more than important elements should be considered authentic pillars, the establishment of which corresponds to the directors and managers who, in addition to preparing them, must communicate them to all levels of the company and make them known to the public through the channels considered most appropriate, simultaneously accompanying the communication of the objectives and strategy defined based on them.