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Faced with the complexity of the modern world it is not surprising that frequently resorting to analogies graphics to aid communication and understanding of complex concepts. When it comes to communicating the concept of Balanced Scorecard, many articles used the following example:
"Imagine that attempt to drive a plane but we have a single instrument-only a speedometer. Be in trouble because to handle a plane requires a board of command with multiple instruments, including an altimeter, a compass and an indicator of fuel. Many companies are like aircraft flying with a single instrument-only have Online Financial Tools. By contrast, the Balanced Scorecard provides measures from multiple perspectives (typically financial, customer, internal process, and learning and growth). This balanced package of measures will enable executives Manege effectively and safely his plane. The Balanced Scorecard pilot who gives the company the control panel they need to control their company in a dynamic environment.
The full set of controls of an airplane is designed to combine a variety of key indicators to inform the pilot. If the Balanced Scorecard is thought the same way, it would be a way for executives to monitor the organization's performance so comfortable and consolidated. Doing so would perpetuate a limited conception of the real potential of this methodology, in which the flow of information is produced only from the bottom up in the organization.
As the concept of Balanced Scorecard went from academia to become a powerful model of strategic management for many companies, the emphasis changed from simply monitoring the performance to find success in implementing the strategy previously agreed. The surprising results obtained by companies that have been successful with the Balanced Scorecard usually do not have been due to new executives truths revealed that enjoyed a better monitoring system. Instead, the improvements were due to the organization focused all its actions in line with the strategy. The better understanding of the strategy by the legions of workers in the enterprise is the main factor behind the change.
Suggest an analogy graphically distinct where the value of primary Balanced Scorecard is not the control panel but the rudder. Many studies indicate that even when executives develop good strategy, they are executed only between 10% and 30% of cases. If the Balanced Scorecard is seen primarily as a monitoring tool, it loses the power that has as a tool to focus and align the organization toward implementing the strategy.
To better appreciate the power of analogy with the rudder, consider a medical instruments company that has two excellent products and a team highly qualified and extremely motivated. After a strategic retreat, the executive announced the goal of achieving an annual growth of 25% over the next 3 years so that they become leaders in their market segment. It invites workers and the general manager inspires reminding the company's mission of helping people to live a healthy and productive life. The CFO graphics displays with the future financial performance of the company and pay variable that could be awarded to top executives. The Human Resources Manager reminds all values of the company that led and will continue where they are accompanying them in their growth. All emerging from the meeting with a positive mindset and motivated to make the most and contribute to collective success.
However, successfully execute the strategy is not an easy task. Even with much effort and energy, may miss approach and consistency. It is likely that there are conflicts and decisions difficult to explain whether members of the organization do not understand clearly the strategy and how they contribute to their implementation.
It is appropriate to reflect on several questions not acquitted: Will growth through acquisitions? Is through the development of new products? Does adding accessories, services or sources of income around existing products? Will expand geographically? How to build deeper relationships with customers to increase the retention ratio? Can cut costs aggressively to gain market share with lower prices or add to the product attributes that justify a price premium? Will seek innovations via increased R & D or sell complementary products through strategic alliances? Are changes will be made in the marks? Will be the fastest or most reliable? Will win new customers through new sales channels? What is the value proposition for the customer? Will be aimed at any specific group of customers? What processes should be achieved excellence? How should invest in a new CRM, optimizing the supply chain, expanding channels or product development? What investments in information technology give priority? What training should be emphasized? The list of questions could occupy many pages. Even if executives at the highest level know the answers, it's hard to be successful if that understanding is not spread across the organization.
Every day, many employees take many decisions with little or much impact. Without a clear and detailed understanding of the strategy of the organisation and its contribution to this strategy as individuals, those decisions and efforts will be fuzzy, contradictory and even unproductive. The head of an effort to reduce costs can affect the work of another who wants to accelerate improvements to the product. If the organization is to succeed, management needs a rudder to help move the organization in the right direction, not a dashboard to tell you where you are.
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