The Balanced Scorecard: Executives' Tool Links Strategy and Performance

Apr 04, 2001, 01:00 ET from Best Practices, LLC

    CHAPEL HILL, N.C., April 4 /PRNewswire/ -- The Balanced Scorecard drives
 the process by which many of the world's leading companies accurately assess
 strategy fulfillment, according to research from benchmarking leader Best
 Practices, LLC.  Companies that fail to use the combination of leading and
 lagging indicators to determine strategic execution often make uninformed
 decisions -- leading to missed goals and under-performance.
     "Developing a Balanced Scorecard of Performance Measures" and its
 corollary report, "Beyond the Balanced Scorecard: Measuring Corporate
 Performance," available online at http://www.BenchmarkingReports.com, reveal
 that high-level executives at leading companies invest extensive time and
 resources to match performance levels with corporate strategies.  "Developing
 a Balanced Scorecard of Performance Measures," profiles how companies use a
 balanced scorecard to slash costs, implement strategy and standardize
 performance.  "Beyond the Balanced Scorecard: Measuring Corporate Performance"
 analyzes numerous measurement tools that organizations rely on to assess
 performance.
     Both studies are drawn from numerous first-hand executive interviews and
 contain:
 
     * Best practices and winning scorecard strategies from world-class
       companies across more than a dozen industries.
     * Analysis of scorecard development processes.
     * Hundreds of performance metrics and dozens of actual corporate
       scorecards used by interviewed companies.
 
     "The balanced scorecard helps companies focus on all the factors that
 affect the bottom line," said Adam Bianchi, BPLLC senior project leader.
 "It's like a divining rod that leads to hidden cost cutting and performance
 improvement opportunities."
     These studies will help organizations:
 
     * Communicate the balanced scorecard approach throughout the organization.
     * Develop strategies to identify meaningful performance measures.
     * Analyze performance measures frequently employed in areas such as
       customer management, internal operations management, employee
       management, financial management and more.
     * Align the balanced scorecard with overall company strategy, goals and
       management systems.
 
     "Developing the Balanced Scorecard" is available for purchase online at
 http://www.BenchmarkingReports.com/pr/op67.htm and
 "Beyond the Balanced Scorecard: Measuring Corporate Performance" is available
 at http://www.BenchmarkingReports.com/pr/op71.htm.  For more information about
 these companion reports or to learn about additional benchmarking studies,
 contact Susan Silverstein at ssilverstein@best-in-class.com or
 919-403-0251 x 251.
 
     ABOUT BEST PRACTICES, LLC
     Best Practices, LLC conducts work based on the principle that
 organizations can chart a course to superior economic performance by studying
 top companies' best business practices, operating tactics, and winning
 strategies.  For more information about Best Practices, LLC, call 919-403-0251
 or visit the corporate website at http://www.best-in-class.com/.
 
 

SOURCE Best Practices, LLC
    CHAPEL HILL, N.C., April 4 /PRNewswire/ -- The Balanced Scorecard drives
 the process by which many of the world's leading companies accurately assess
 strategy fulfillment, according to research from benchmarking leader Best
 Practices, LLC.  Companies that fail to use the combination of leading and
 lagging indicators to determine strategic execution often make uninformed
 decisions -- leading to missed goals and under-performance.
     "Developing a Balanced Scorecard of Performance Measures" and its
 corollary report, "Beyond the Balanced Scorecard: Measuring Corporate
 Performance," available online at http://www.BenchmarkingReports.com, reveal
 that high-level executives at leading companies invest extensive time and
 resources to match performance levels with corporate strategies.  "Developing
 a Balanced Scorecard of Performance Measures," profiles how companies use a
 balanced scorecard to slash costs, implement strategy and standardize
 performance.  "Beyond the Balanced Scorecard: Measuring Corporate Performance"
 analyzes numerous measurement tools that organizations rely on to assess
 performance.
     Both studies are drawn from numerous first-hand executive interviews and
 contain:
 
     * Best practices and winning scorecard strategies from world-class
       companies across more than a dozen industries.
     * Analysis of scorecard development processes.
     * Hundreds of performance metrics and dozens of actual corporate
       scorecards used by interviewed companies.
 
     "The balanced scorecard helps companies focus on all the factors that
 affect the bottom line," said Adam Bianchi, BPLLC senior project leader.
 "It's like a divining rod that leads to hidden cost cutting and performance
 improvement opportunities."
     These studies will help organizations:
 
     * Communicate the balanced scorecard approach throughout the organization.
     * Develop strategies to identify meaningful performance measures.
     * Analyze performance measures frequently employed in areas such as
       customer management, internal operations management, employee
       management, financial management and more.
     * Align the balanced scorecard with overall company strategy, goals and
       management systems.
 
     "Developing the Balanced Scorecard" is available for purchase online at
 http://www.BenchmarkingReports.com/pr/op67.htm and
 "Beyond the Balanced Scorecard: Measuring Corporate Performance" is available
 at http://www.BenchmarkingReports.com/pr/op71.htm.  For more information about
 these companion reports or to learn about additional benchmarking studies,
 contact Susan Silverstein at ssilverstein@best-in-class.com or
 919-403-0251 x 251.
 
     ABOUT BEST PRACTICES, LLC
     Best Practices, LLC conducts work based on the principle that
 organizations can chart a course to superior economic performance by studying
 top companies' best business practices, operating tactics, and winning
 strategies.  For more information about Best Practices, LLC, call 919-403-0251
 or visit the corporate website at http://www.best-in-class.com/.
 
 SOURCE  Best Practices, LLC