Download and customize hundreds of business templates for free
Chapter Three emphasizes the importance of aligning financial objectives with the strategic planning of a business. It suggests that the scorecard should narrate the strategy, beginning with long-term financial goals. These goals should then be connected to a series of actions involving financial processes, customers, internal processes, and lastly, employees and systems. The ultimate aim is to achieve the desired long-term economic performance.
Question was asked on:
Chapter Three covers in detail how the Financial Perspective should operate. The reader is encouraged to link their financial objectives to the strategic planning of the business. The scorecard should tell the story of the strategy, starting with the long-term financial objectives, and linking them to the sequence of actions that must be taken with financial processes, customers, internal processes, and finally, employees and systems to deliver the desired long-run economic performance.
Asked on the following book summary:
The Balanced Scorecard believes that business leaders often times fail to connect the necessary strategy with the appropriate action or tactic. The b...
Download and customize hundreds of business templates for free
Visualize your organization’s strategy so that all team players understand how to work together and identify where they fit in. Use our Strategy Maps collection to document and hone in on your priorities.
What if you could communicate your overall strategy on a single page? Well, you can with our Strategy Maps deck. Create strategy maps that keep everyone in agreement about the business direction and enable the teams to see where they fit in and how their jobs affect the company’s general strategic objectives.
How do you out-perform competitors and acquire a better understanding of key profitability drivers in your industry? This book, by the legendary Michael Porter, has redefined how Fortune 500 companies formulate strategy. Read this summary to unlock the analytical tools that create game-changing strategies.
What’s the difference between leaders who only achieve short-term success and visionaries who create resilient and truly competitive organizations? Read this book summary to learn the principles that shape an infinite-minded leader who inspires loyalty and advances a greater cause for generations.