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Achieving strategy with scorecarding
Author(s) -
Lawson Raef,
Stratton William,
Hatch Toby
Publication year - 2005
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.20104
Subject(s) - balanced scorecard , champion , key (lock) , strategy implementation , process management , computer science , tracking (education) , performance indicator , strategy map , business , operations management , marketing , computer security , psychology , political science , engineering , pedagogy , law
There are four key factors to achieving strategy through implementation of a scorecarding system. The first of these is clear communication of strategy to employees. Second is tracking results and providing visual feedback, such as through scorecards with traffic lights, trend indicators, benchmarks, and scores. Third is having people with the right skills doing the things necessary to push the strategy forward. Fourth is having a strategy champion to keep the scorecard system initiative visible and to encourage communication. © 2005 Wiley Periodicals, Inc.