Balanced Score Card Model

As global competition heats up, the need to identify and implement strategies that yield competitive advantage increases. Balanced Scorecard (BSC) is a management concept which helps managers at all levels monitor results in their key areas. The BSC is a performance management approach that focuses on four indicators, including customer perspective, internal-business processes, learning and growth and financials, to monitor progress toward organisation's strategic goals. Working in a telecommunications company, our challenges in 2001 were to …

…to achieve significant growth targets amidst increasing downward pricing pressure, limited resources, and an increasingly competitive market. BSC concept was implemented with the following steps: 1. Strategic themes determined 2. Scorecard design 3. Strategic progress review 4. Strategy refinement 5. Alignment and focus The BSC has facilitated a cultural shift toward the use of measurement as a means of learning and changing behaviours. The BSC has contributed significantly to a sharper and more aligned team, for current and future success.