How does the BSC help improve strategic communication and execution within a company?

The Balanced Scorecard (BSC) improves strategic communication and execution within a company by providing a clear, structured framework for developing objectives, Key Performance Indicators (KPIs), targets, and initiatives. It allows for a comprehensive view of the organization from four different perspectives, enabling leaders to align their strategies with these perspectives. This alignment facilitates better communication of the strategy across the organization and ensures that all initiatives are strategically focused, thereby improving execution.

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The nine steps to BSC implementation are Assessment, Strategy, Strategy Mapping, Performance Measures, Strategic Initiatives, Performance Analysis, Evaluation. You can use this slide to walk your audience through each of them. The BSC suggests that an organization should be examined from four different perspectives for the leaders to develop objectives, KPIs, targets, as well as initiatives and campaigns in relation to these perspectives. We discuss below. There are three types of companies that can benefit from creating and managing their Balanced Scorecard in Excel: small firms, pilot projects and companies in transition. Creating BSC in Excel is by far the most cost-saving option.

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Balanced Scorecard

Need a way to streamline your strategic planning process? The Balanced Scorecard (BSC) is a tried-and-true method used by some of the most successful...

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