CET’s broad experience has shown that more and more companies possess clearly defined strategies. Their implementation, most often focused on reaching financial and market-related goals, does not always provide the anticipated results. Why is that so?

The requirements of what is becoming an increasingly competitive market force companies to broaden the scope of their strategic planning schemes in such a way as to approach other strategic outcomes of the conducted activities in a systematic way. These include client satisfaction, process efficiency and well qualified, motivated staff.

The Balanced Scorecard (BSC) is a performance management tool which allows for translating strategy into the language of company financial and non-financial goals.

The application of the BSC ensures success due to the engagement of the whole staff in the process of strategy execution.

• Maps of interrelated strategic objectives determine the manner in which company value is created from four perspectives: financial, customer, business processes and learning and growth. Strategy maps are developed at the company and business unit levels.
• The responsibility for accomplishing company objectives lies with the members of company Management Boards, directors and managers (the latter in smaller entities).
• The degree to which a firm achieves its set goals is determined by key performance indicators which are interconnected with the motivation system.

This way company goals and objectives become also the aims of its employees.

Another advantage of such an approach is the activation of innovative thinking within the company. Every employee knows that every original concept, even one seemingly insignificant, may contribute to the achievement of the set corporate objectives.