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The potential challenges of implementing the Balanced Scorecard may include difficulty in identifying the right metrics, resistance to change from employees, the need for continuous review and update, and the risk of overemphasis on financial metrics. It also requires a strong commitment from the management and a clear understanding of the organization's strategy.
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Strategic planning is a crucial aspect of a business' success. That is why Apple, Volkswagen, UPS, Citibank and many other Fortune 500 companies, and even U.S. Army Medical Department, use Balanced Scorecard (BSC) and remain extremely productive and enviably profitable. Our template allows you to use the BSC approach to improve strategic communication and execution, process alignment and performance reporting within your company (among other things), and thrive.
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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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