how to convince the stakeholders to use the balanced scorecard concept | bscdesigner.com
DESCRIPTION
The Balanced Scorecard is a business tool recognized world-wide by companies' executives. The secret of the successful BSC project is that all key employees, business owners, and top managers are involved. Research show that the biggest challenge during the implementation of the BSC is a motivational problem. Before starting a Balanced Scorecard project it is necessary to explain this business approach to all stakeholders so that they would buy into the design of the Balanced Scorecard and in the future became active users of this business tool. More: http://www.bscdesigner.com/TRANSCRIPT
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HOW TO CONVINCE THE STAKEHOLDERSTO USE THE BALANCED SCORECARD CONCEPT
By Aleksey Savkin, bscdesigner.com
BSC DESIGNER
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Is recognized world-wide by
companies' executives
THE BALANCED SCORECARD
BSC DESIGNER
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Is recognized world-wide by
companies' executives
THE BALANCED SCORECARD
All key employees,
business owners, and top managers must be involved
BSC DESIGNER
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Is recognized world-wide by
companies' executives
THE BALANCED SCORECARD
All key employees,
business owners, and top managers must be involved
The biggest challenge is a motivational
problem
BSC DESIGNER
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Is recognized world-wide by
companies' executives
THE BALANCED SCORECARD
All key employees,
business owners, and top managers must be involved
The biggest challenge is a motivational
problem
Before starting a Balanced Scorecard
project it is necessary to explain
this business approach to all
stakeholders
BSC DESIGNER
![Page 6: How to convince the stakeholders to use the Balanced Scorecard concept | BSCDesigner.com](https://reader033.vdocuments.us/reader033/viewer/2022061300/54c6d65f4a79599e578b4596/html5/thumbnails/6.jpg)
THE BALANCED SCORECARD IS ALREADY USED WIDELY
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More than 50 %of large enterprises use some type of a balanced scorecard.— Study by Cranfield University
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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31%of companies reported Balanced Scorecard as extremely helpful; 42% as a very helpful.— 2GC Balanced Scorecard usage survey
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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34%of interviewed companies use BSC for strategic management, 35% for reporting, 17% for operational management.— 2GC Balanced Scorecard usage survey
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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70%of organizations had at least partially implemented a Balanced Scorecard by 2006.— Bain & Co
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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50%of Fortune 1,000 companies are using the Balanced Scorecard.— Bain & Co
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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BALANCED SCORECARD was one of the 5 most used business tools in 2013.— Bain & Co, Management Tools & Trends 2013
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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Find all the mentioned statistics in the BALANCED SCORECARD FACT SHEET AND STATISTICS section at— www.BSCDesigner.com
THE BALANCED SCORECARD IS ALREADY USED WIDELYBSC DESIGNER
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WHY COMPANIES USE THE BALANCED SCORECARD?
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By now we see that the
Balanced Scorecard is used widely, but WHY
is it used?
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of typical workforce does not understand its organizations’ strategy.— Balanced Scorecard Collaborative
97%
PROBLEMS THAT ALL COMPANIES FACE AND THAT BALANCED SCORECARD ADDRESSES
BSC DESIGNER
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of organizations fail to execute their strategies successfully.— Balanced Scorecard Collaborative
90%
PROBLEMS THAT ALL COMPANIES FACE AND THAT BALANCED SCORECARD ADDRESSES
BSC DESIGNER
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of organizations do not link middle management incentives to strategy.— Balanced Scorecard Collaborative
70%
PROBLEMS THAT ALL COMPANIES FACE AND THAT BALANCED SCORECARD ADDRESSES
BSC DESIGNER
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BALANCED SCORECARD ALLOWS ONE TO SEE THE BIG PICTURE
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BALANCED SCORECARD ALLOWS ONE TO SEE THE BIG PICTURE
LINE-LEVEL EMPLOYEES start seeing the connection between what they are doing
now and the strategy of the company.
BSC DESIGNER
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EXECUTIVES enjoy the top view of what's happening in the company, why it’s
happening and what is the response of the business on this.
BALANCED SCORECARD ALLOWS ONE TO SEE THE BIG PICTURE
BSC DESIGNER
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ANALYZE YOUR LAST FAILURE
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ANALYZE YOUR LAST FAILURE
IF YOU WOULD HAVE EXECUTED IT BETTER IF YOU WOULD SEE A BIG PICTURE OF WHAT'S GOING ON?
BSC DESIGNER
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ANALYZE YOUR LAST FAILURE
IF YOUR EMPLOYEES WOULD ACHIEVE BETTER RESULTS IF THEY WOULD HAVE KNOWN WHAT STRATEGIC PLAN STANDS BEHIND THEIR JOB?
BSC DESIGNER
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ANALYZE YOUR LAST FAILURE
IF YOUR PROJECT WOULD BE MORE PREDICTABLE IF YOU WOULD USE CLEARLY DEFINED MEASURES AND KPIS?
BSC DESIGNER
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HOW EXACTLY CAN THE BALANCED SCORECARD HELP?
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stakeholders need to see the big picture of what's happening in the business and why.
Management initiatives should be aligned with strategy and we need KPIs to know that we are on the right track.
TO EXECUTE A BUSINESS STRATEGY EFFECTIVELY
HOW EXACTLY CAN THE BALANCED SCORECARD HELP?
BSC DESIGNER
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THE BALANCED SCORECARDobligates top managers to formalize their strategic ideas into a form of a strategy map.
Business objectives should be linked with each other by a cause-and-effect connections.
HOW EXACTLY CAN THE BALANCED SCORECARD HELP?
BSC DESIGNER
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With the Balanced Scorecard KPIs will be aligned to business objectives.
We will know if we are on the right track towards achieving the business goal.
HOW EXACTLY CAN THE BALANCED SCORECARD HELP?
BSC DESIGNER
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In the Balanced Scorecard for each business objective we will have an action plan.
It will tell employees what they should do to achieve the specific business goal.
HOW EXACTLY CAN THE BALANCED SCORECARD HELP?
BSC DESIGNER
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The Balanced Scorecard project will be cascaded.
BSC project will be delegated to department levels.
HOW EXACTLY CAN THE BALANCED SCORECARD HELP?
BSC DESIGNER
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YOU STILL NEED YOUR PROJECT MANAGEMENT TOOLS
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The Balanced Scorecard is not a replacement for classical project management tools.
The BSC addresses the strategy execution problems, not a task management challenges.
YOU STILL NEED YOUR PROJECT MANAGEMENT TOOLSBSC DESIGNER
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The Balanced Scorecard gives a business context for operational tasks.
Instead of just doing their job, employees will be able to understand why they are doing it and why it is important.
YOU STILL NEED YOUR PROJECT MANAGEMENT TOOLSBSC DESIGNER
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Companies that have implemented the Balanced Scorecard have reported significant increases in ultimate business performance.
The Balanced Scorecard allows changing the perception of the job.
YOU STILL NEED YOUR PROJECT MANAGEMENT TOOLSBSC DESIGNER
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83%found the most significant impacts of Balanced Scorecard implementation in business actions.— 2GC Balanced Scorecard usage survey
BSC DESIGNER
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80%of organizations using Balanced Scorecard reported improvements in operating performance.— Balanced Scorecard Forum
BSC DESIGNER
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66%of these organizations reported an increase in profits.
— Balanced Scorecard Forum
BSC DESIGNER
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A BALANCED SCORECARD AND A DASHBOARD ARE NOT THE SAME
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Most businesses have some type of a dashboard. A dashboard and a Balanced Scorecard are not the same business tools.
They are designed for different purposes.
A BALANCED SCORECARD AND A DASHBOARD ARE NOT THE SAME
BSC DESIGNER
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Dashboards are great for monitoring of the current business state.
Dashboards help to generate some business insights.
A BALANCED SCORECARD AND A DASHBOARD ARE NOT THE SAME
BSC DESIGNER
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You will need a scorecard that will track your progress towards specified business objectives.
Use the Balanced Scorecard when it comes to new challenges.
A BALANCED SCORECARD AND A DASHBOARD ARE NOT THE SAME
BSC DESIGNER
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Learn more about the difference in the article:"What’s the difference between a Dashboard and a Balanced Scorecard?“ on www.bscdesigner.com
A BALANCED SCORECARD AND A DASHBOARD ARE NOT THE SAME
BSC DESIGNER
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WHAT ARE THE BENEFITS OF THE BALANCED SCORECARD?
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BSC FOR A TOP MANAGER
Visualizes strategic
information on the strategy map
BSC DESIGNER
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Displays the big picture of what's going
on in the company
BSC FOR A TOP MANAGER
Helps to formulate and
execute the strategy
Top manager have the understanding of the cause-and-effect
connections between involved
business objectives and suggested
business solutions
Visualizes strategic
information on the strategy map
BSC DESIGNER
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Helps to monitor the
current performance
BSC FOR A BUSINESSS UNIT MANAGER
BSC DESIGNER
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Helps to monitor the
current performance
BSC FOR A BUSINESSS UNIT MANAGER
Helps to tracks the progress
towards business
objectives
Top level initiatives are translated more logically. Managers
focus on what matters, and avoid a job that doesn't help
the company to execute its strategy
Visualizes important
performance information
BSC DESIGNER
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Shows how the current
task is linked to the
company's strategy
BSC FOR LINE-LEVEL EMPLOYEES
BSC DESIGNER
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Shows how the current
task is linked to the
company's strategy
BSC FOR LINE-LEVEL EMPLOYEES
Tracks the current
performance transparently
Knowing the ultimate goal helps
employees to do their job more
effectively
Employees are happy to do a job
where a final objective and the
progress measures are
clearly defined
BSC DESIGNER
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BALANCED SCORECARD'S DON'TS
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DO NOT RUN THE BSC PROJECT BY YOURSELF. Top managers like to play their business toys alone. In the case of the Balanced Scorecard this won't work. Involve your team as soon as possible. In this way you will come up with better KPIs, business objectives, action plans and finally will achieve better results.
BALANCED SCORECARD'S DON'TSBSC DESIGNER
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DO NOT USE REWARD KPIs. Linking rewards to specific KPI will make the life of HR much easier, but it is not recommended to use Reward KPIs on your scorecard.Researches and best practices also confirm this point of view. Check out "Compensation and reward KPI best practices" article on www.bscdesigner.com for details.
BALANCED SCORECARD'S DON'TSBSC DESIGNER
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DO NOT COPY KPIs FROM OTHER BUSINESSES. You need to map your business objectives and then come up with KPIs that will measure your progress towards business objectives or monitor your current performance. Business objectives come first, not KPIs. For that reason it doesn't make sense copying KPIs from others.
BALANCED SCORECARD'S DON'TSBSC DESIGNER
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WE ALREADY HAVE KPIs! WHY DO WE NEED ANYTHING ELSE?
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They can give some insights, but they lack the connection with strategy, business objectives and action plans.
— Learn more in the article:"Why most KPIs don't work and what to do about this."
KPIS ARE FOR MEASUREMENT, NOT FOR MANAGEMENT.
WE ALREADY HAVE KPIs! BSC DESIGNER
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CHOOSING AN AUTOMATION TOOL
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As it was shown the Balanced Scorecard is not about few KPIs and it is not for the top managers only.
To help company execute its strategy, the Balanced Scorecard should be a part of the business toolkit of all departments.
CHOOSING AN AUTOMATION TOOLBSC DESIGNER
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Excel is a great choice when you are on the stage of a prototype.
To help company execute its strategy, the Balanced Scorecard should be a part of the business toolkit of all departments.
CHOOSING AN AUTOMATION TOOLBSC DESIGNER
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When it comes to the strategy map, cascading, sharing your BSC, choose a professional Balanced Scorecard software like BSC Designer.BSC Designer you can link a KPI to your data in MS Excel.
CHOOSING AN AUTOMATION TOOLBSC DESIGNER
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Facts tell, stories sell. We shared many facts about the Balanced Scorecard.
To be really persuasive one need to share stories about the Balanced Scorecard with their stakeholders.
CHOOSING AN AUTOMATION TOOLBSC DESIGNER
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CHOOSING AN AUTOMATION TOOL
Simple installation
— Ivan Lim, Blurmath Tuition Company, Singapore
"The interface looks rather intuitive and is
able to allow the user to know his/her way
around easily. Also, it does not require
complicated installation, unlike some BSC
software in the market."
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CHOOSING AN AUTOMATION TOOL
Simple installation
— Ivan Lim, Blurmath Tuition Company, Singapore
"The interface looks rather intuitive and is
able to allow the user to know his/her way
around easily. Also, it does not require
complicated installation, unlike some BSC
software in the market."
Easy to maintain and input data
— Javier Peñate, Operations Manager, DCM S.L., Spain
"After testing some independent BSC solutions of the market, we decided to use BSC Designer because it is easy to start and maintain, and it is really easy to input data and the software is very intuitive. "
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CHOOSING AN AUTOMATION TOOL
Simple installation
— Ivan Lim, Blurmath Tuition Company, Singapore
"The interface looks rather intuitive and is
able to allow the user to know his/her way
around easily. Also, it does not require
complicated installation, unlike some BSC
software in the market."
Easy to maintain and input data
— Javier Peñate, Operations Manager, DCM S.L., Spain
"After testing some independent BSC solutions of the market, we decided to use BSC Designer because it is easy to start and maintain, and it is really easy to input data and the software is very intuitive. "
Learn BSC method
— Abdula Ali, Sales Director, MIC, Saudi Arabia
"BSC Designer helps with the implementing of company’s strategy. It seemed to me that I can learn from BSC-Designer more than from what I have studied in different costly courses. "
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CHOOSING AN AUTOMATION TOOL
Simple installation
— Ivan Lim, Blurmath Tuition Company, Singapore
"The interface looks rather intuitive and is
able to allow the user to know his/her way
around easily. Also, it does not require
complicated installation, unlike some BSC
software in the market."
Easy to maintain and input data
— Javier Peñate, Operations Manager, DCM S.L., Spain
"After testing some independent BSC solutions of the market, we decided to use BSC Designer because it is easy to start and maintain, and it is really easy to input data and the software is very intuitive. "
Learn BSC method
— Abdula Ali, Sales Director, MIC, Saudi Arabia
"BSC Designer helps with the implementing of company’s strategy. It seemed to me that I can learn from BSC-Designer more than from what I have studied in different costly courses. "
Hierarchical KPIs
— Davide Gentile, Strategic Advisor, Davide Gentile
Management Consultancy
"BSC Designer allows creating categories and sub-categories where you can put Key Performance Indicators; it is possible to represent hierarchical structure of KPIs."
![Page 66: How to convince the stakeholders to use the Balanced Scorecard concept | BSCDesigner.com](https://reader033.vdocuments.us/reader033/viewer/2022061300/54c6d65f4a79599e578b4596/html5/thumbnails/66.jpg)
CHOOSING AN AUTOMATION TOOL
Simple installation
— Ivan Lim, Blurmath Tuition Company, Singapore
"The interface looks rather intuitive and is
able to allow the user to know his/her way
around easily. Also, it does not require
complicated installation, unlike some BSC
software in the market."
Easy to maintain and input data
— Javier Peñate, Operations Manager, DCM S.L., Spain
"After testing some independent BSC solutions of the market, we decided to use BSC Designer because it is easy to start and maintain, and it is really easy to input data and the software is very intuitive. "
Learn BSC method
— Abdula Ali, Sales Director, MIC, Saudi Arabia
"BSC Designer helps with the implementing of company’s strategy. It seemed to me that I can learn from BSC-Designer more than from what I have studied in different costly courses. "
Avoid Excel sheets
— Emmanuel Jaunart, founder
of Mielabelo, Belgium
"It is simple, fast and
effective... BSC Designer
helps you to avoid using and
maintaining home-made
Excel sheets and produces
professional results."
Hierarchical KPIs
— Davide Gentile, Strategic Advisor, Davide Gentile
Management Consultancy
"BSC Designer allows creating categories and sub-categories where you can put Key Performance Indicators; it is possible to represent hierarchical structure of KPIs."
![Page 67: How to convince the stakeholders to use the Balanced Scorecard concept | BSCDesigner.com](https://reader033.vdocuments.us/reader033/viewer/2022061300/54c6d65f4a79599e578b4596/html5/thumbnails/67.jpg)
80testimonials from users from various businesses from all over the world.
— www.bscdesigner.com/about-us/testimonials
CHOOSING AN AUTOMATION TOOLBSC DESIGNER
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Business people like to see not just user's testimonials, but the case studies with even more facts and details.
Share with your stakeholder one of the business stories from case study section on www.bscdesigner.com
CHOOSING AN AUTOMATION TOOLBSC DESIGNER
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STILL DOUBT ABOUT THE BALANCED SCORECARD?
![Page 70: How to convince the stakeholders to use the Balanced Scorecard concept | BSCDesigner.com](https://reader033.vdocuments.us/reader033/viewer/2022061300/54c6d65f4a79599e578b4596/html5/thumbnails/70.jpg)
MORE ABOUT THE BALANCED SCORECARD
Find more insightful articles about the Balanced Scorecard in ”Articles” section at www.bscdesigner.com
BSC DESIGNER
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THANK YOU!
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