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Essay / Balance Scorecard Essay - 1877
The Balance Scorecard and Strategy Map help break down these barriers by connecting organizations and outcomes. Linking operational goals and objectives across organizations can help eliminate silo mentality. Communication Strategy The Balance Dashboard provides the entire organization with the ability to visualize overall results and their progress toward G&O. The ability to disseminate information everywhere allows all levels of the organization to work to impact outcomes. This common language facilitates dialogue between functional managers and employees, and across organizational boundaries between different disciplines. Monitoring and Management Strategic Execution Person (2009) highlights that less than 10% of management staff time is spent monitoring strategy and execution. Executives devote most of their time to operational performance. The balance sheet dashboard can help compensate for this. The Balance Scorecard provides leaders with a way to monitor performance against overall strategic intent. This helps leaders stay focused on strategic leadership and allows functional managers to focus on operations.