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The starting point of a communication plan should be the company’s vision and objectives. We must ask ourselves why are we launching a communication plan and what do we expect to achieve as a result.
Philips
A recent study suggests that more than half of the Fortune 1000 companies still use the Balanced Scorecard, after over 20 years since it was brought into existence by researchers David Kaplan and Robert Norton.
Strategy execution is not just a matter of owning adequate management tools and techniques, but also of making them work. Various organizations pride themselves on having implemented the Balanced Scorecard as their main tool for effective performance measurement and successful strategy implementation. However, is it enough to cite the use of a Balanced Scorecard in order to communicate a performance-oriented culture?
Before the invention of the Balanced Scorecards, organizations and companies used financial and/or quality operations and programs to measure how well they performed.
In many cases when measuring organizational performance, companies tend to focus solely on the financial perspective, setting objectives such as “Achieve profit growth” (measuring it through $ Gross profit margin, $ Net cash flow, or similar indicators) or “Maintain financial discipline” (measuring it through % Budget variance, # Berry ratio, or others).
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