Strategy execution and Balanced Scorecard
Tesco is the most famous example of how to use balanced scorecard to execute a well defined strategy. Under Sir Terry Leahy’s leadership, the balanced scorecard has been pivotal to Tesco’s success, helping them to be the world class retailer they are today.
We will help you to validate your strategy and make it accessible to the whole organisation through the use of strategy maps. A well developed strategy map becomes the core backbone for all activities and performance management throughout the business, linking the strategy to the critical success factors and outcomes required to achieve the strategic objectives. The balanced scorecard is simply the visual management tool which tells you where you are on your strategic journey and focuses your teams on actions needed to deliver the strategy. Cascaded and aligned scorecards provide you with a line of sight across the whole organisation from Board to frontline workers with everyone focused on delivering the same overall vision.
Implementing a balanced scorecard means overhauling the way a company operates – its management philosophy, leadership style, ways of working, processes etc. This is not about introducing a new set of performance measures into an existing way of operating.
