Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 11 August 2005
Length: 30 pages
Data source: Field research
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Abstract
First Commonwealth Financial Corp, a financial institution in central and southwestern Pennsylvania, implemented the Balanced Scorecard for describing and implementing its new customer-focused strategy. Its founder and chairman decided that the Balanced Scorecard also should become the primary information input for the corporate governance process with the board of directors so that the board could become more knowledgeable about and more actively involved in the company''s strategy. Describes how the board became knowledgeable about the company''s Balanced Scorecard and how it participated in developing a Balanced Scorecard for itself. In addition to the enterprise and board scorecards, the company also developed scorecards for each senior executive for the governance and compensation committees to assess and reward senior management performance. Extensive exhibits illustrate the three different scorecards and the reports and supporting documents for these scorecards. The teaching purpose is to look at the role of the Balanced Scorecard in the corporate governance process.
Location:
Industry:
Size:
1,600 employees, USD300 million revenues
Other setting(s):
2003
Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 17 June 2004
Length: 7 pages
Spanish language
Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 11 August 2005
Revision date: 4-Apr-2019
Length: 31 pages
Data source: Field research
About
Abstract
First Commonwealth Financial Corp, a financial institution in central and southwestern Pennsylvania, implemented the Balanced Scorecard for describing and implementing its new customer-focused strategy. Its founder and chairman decided that the Balanced Scorecard also should become the primary information input for the corporate governance process with the board of directors so that the board could become more knowledgeable about and more actively involved in the company''s strategy. Describes how the board became knowledgeable about the company''s Balanced Scorecard and how it participated in developing a Balanced Scorecard for itself. In addition to the enterprise and board scorecards, the company also developed scorecards for each senior executive for the governance and compensation committees to assess and reward senior management performance. Extensive exhibits illustrate the three different scorecards and the reports and supporting documents for these scorecards. The teaching purpose is to look at the role of the Balanced Scorecard in the corporate governance process.
Settings
Location:
Industry:
Size:
1,600 employees, USD300 million revenues
Other setting(s):
2003
Related
Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 17 June 2004
Length: 7 pages
Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 11 August 2005
Revision date: 4-Apr-2019
Length: 31 pages
Data source: Field research