With the current development of business models and management, is increasingly necessary to obtain an overview of the same by the management team.
The Balanced Scorecard isone of the most effective tools for deploying and implementing the strategic plan of the Company. Today is not enough to manage financial indicators alone, leading to an excessive emphasis onachieving short-term results.
BSC has the task of translating the vision and strategy of the organization in a set of indicators to report on the achievement of objectives. It is an indispensabletool for consistently aligning people with the strategic plan of the Company, and to help achieve the strategic objectives of the Organization.
The goal of any measurement system must motivate allmanagers and employees to successfully implement the strategy of the business unit. Those companies that can move its strategy to its measurement systems are better able to execute their strategy becausethey can communicate their objectives and goals. A successful BSC is one that communicates a strategy through an integrated package of financial and nonfinancial indicators.
The Scorecard is linkedstrategically to the organization through three indicators.
• cause-effect relationships
• Results and action-inducing
• Linking with finance
The BSC aligns and supports the key processes ofthe organization, and includes the following:
• Classification and strategy update
• Communicate the strategy throughout the organization
• Align personal goals and strategy departments
• Identifyand align strategic initiatives
• Link strategic objectives to long-term goals and annual budgets
• Align strategic and operational reviews
• Obtain feedback to learn about and improve strategyAdvantages of the Implementation of Balanced scorecard
1 .- System of Managing for Results: BSC helps to align employee objectives with those of the Organization. encouraging the implementation...