Published by:
Harvard Business Publishing
Length: 2 pages
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Abstract
It can take years and cost millions to implement the Balanced Scorecard across a large corporation. But savvy managers don''t have to wait for a corporate transformation to benefit from the method''s central ideas. Four lessons from the Balanced Scorecard that can be applied right away in virtually any business unit or department: 1) monitor a variety of metrics; 2) connect those metrics to strategy; 3) develop a "strategic budget"; and 4) get everyone involved in tracking metrics.
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Abstract
It can take years and cost millions to implement the Balanced Scorecard across a large corporation. But savvy managers don''t have to wait for a corporate transformation to benefit from the method''s central ideas. Four lessons from the Balanced Scorecard that can be applied right away in virtually any business unit or department: 1) monitor a variety of metrics; 2) connect those metrics to strategy; 3) develop a "strategic budget"; and 4) get everyone involved in tracking metrics.