Are you ready to use Balanced Scorecard? Check your knowledge now

Implementation and maintenance of Balanced Scorecard is quite a difficult and for some companies a painful process.  This performance evaluation tool works only when a number of conditions are observed.  One of the most common myths about Balanced Scorecard is that BSC is a magic tool that is capable of turning any company into a successful international corporation.  Well, there is no magic in the business world.

Balanced Scorecard yields positive results only when it is properly implemented.  As said above, the system itself will not do all the work.  If the company management is not ready to implement BSC, this system will turn into a useless pile of datasheets, charts, tables and other information.  It should be noted that implementation of Balanced Scorecard requires sufficient investment.  Thus, unsuccessful implementation of BSC is simply a waste of money.

It is very important for the company to know 2 basic things: how a company learns that it needs Balanced Scorecard and how a company knows that it is ready to use Balanced Scorecard.  To answer the first question one should keep in mind the following:

  • If the company midlevel and top management is not involved in strategic planning than such a company certainly needs Balanced Scorecard
  • If the company personnel does not understand strategic goals such company needs Balanced Scorecard
  • If there is poor communication between companies belonging to one holding, such companies need Balanced Scorecard
  • If there is no operational control in the company such company needs Balanced Scorecard

To answer the second question (are you ready to use Balanced Scorecard) you can download free questionnaire on Balanced Scorecard from AKS-LABS.  This survey is offered in pdf extension which one can print out and check the answers.

BSC questionnaire will be helpful for the entire company

BSC questionnaire will be helpful for the entire company

This questionnaire would be helpful both for those who plan to use Balanced Scorecard men those already using BSC.  Having answered the question and check the results one will be able to evaluate knowledge on Balanced Scorecard.

The questions mostly concern implementation stages of Balanced Scorecard, peculiar features of this system, key performance indicators, their number and impact on co performance, strategy maps, strategic goals etc.

This survey is designed both for company management and ordinary employees.  It is very important that every employee understands strategic goals of the company and the way Balanced Scorecard works.  Having analyzed questionnaire results it will be possible to determine total readiness of the company and its management to use Balanced Scorecard in the everyday work.

Check your BSC knowledge

Check your BSC knowledge

Read on BSC questionnaire here.

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