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Balance Score Card

In: Business and Management

Submitted By dakshadixit
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Implementation in Organizations
The tool has become a weapon for organizations to identify the pressure points, conflicting interests, objectives setting, prioritization of objectives, planning and budgeting. The four main important steps that need to be taken care of are –
1. Translating the Vision
It is to be remembered that the vision of any organization should be understood by each and every employee of the organization. If it is understood by the top management only, then it is definite that the organization will fail to realize its goals. Hence, before starting with the strategic implementation process, the organizations needs to be clear about the reason for its existence, where it wants to see itself after a certain number of years and properly decide its business definition. The managers should build a consensus around the organization’s vision and strategy.
The strategies, in fact, emanate from the vision and mission of the company which means that a linkage is formed between the strategies of the different business units and the vision of the organization. The lofty statements must be translated into an integrated set of objectives and measures. Thus, by using this tool, the overall strategic objectives for the company gets clarified which helps to achieve consensus across different business units on the overall strategic objectives for the company.
HRM Report Div – D (SCIT 2011-2013) Page 7
2. Communicating and Linking
Just communicating the vision and the strategies is not an end in itself. The strategic goals and the measures to be set in the different areas have to be decided upon. The long-term strategic goals have to be translated into both departmental and individual goals which should be aligned to each other in order to realize the long-term goals. In fact, each and everyone at different

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