What are the challenges in implementing a Balanced Scorecard?

The challenges in implementing a Balanced Scorecard can vary depending on the organization, but some common challenges include: difficulty in identifying the right metrics to track, resistance to change within the organization, lack of understanding or buy-in from employees, and the need for ongoing review and adjustment of the scorecard. It can also be challenging to balance the need for comprehensive data with the need for a simple, easy-to-understand scorecard.

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There was a significant move towards quarterly reporting in 2019 – up to an average of 56% of organizations, compared to 38% in the previous year. This may be linked to a fall in six-monthly reports. The reporting frequency changes were mirrored in the data on how often Balanced Scorecards are reviewed: with a similarly significant increase to 58%, compared to 40% in 2018. 3rd Generation Balanced Scorecard designs continued to be the most popular design format. They were also the design giving the highest scores for value – 89% of organizations that used them were "Extremely Satisfied" with their Balanced Scorecard. Almost two-thirds of the organizations in the survey reported having multiple Balanced Scorecards, which marked a big increase over 2018 (64% vs. 48%). The number of respondents who said that their Balanced Scorecard was extremely or very useful increased by 88% in 2019, compared to 75% in 2018.

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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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