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Implementing the Balanced Scorecard (BSC) can present several challenges. These include difficulty in identifying appropriate measures, resistance to change from employees, and the need for a cultural shift within the organization. Overcoming these challenges requires a clear communication strategy, training and education, and strong leadership commitment. It's also important to start small, perhaps with a pilot project, and gradually expand the use of BSC across the organization.
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Focus Areas – This method involves building your entire strategic plan around the BSC. To implement this method, each of the four perspectives (Financial, Customer/Stakeholder, Internal Process and Organizational Capacity) are set as one of the strategic Focus Areas. Objectives, Projects and KPIs are then listed directly underneath each main perspective. Goal Types – This method involves establishing your own Focus Areas separately from the BSC. Then a custom field for each Objective, Project and KPI needs to be created with specific categorized activities.
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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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