THE STRATEGY MAP AND ITS BALANCED SCORECARD
Most executives are effective at formulating their strategy. Their frustration is with having their managers and employee teams implement their strategy. Evidence of executives failing to successfully execute their strategy is an increase in job terminations of CEOs. Boards of directors, no longer a...
Saved in:
| Published in: | EDPACS Vol. 61; no. 3; pp. 1 - 16 |
|---|---|
| Main Author: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
Taylor & Francis
03-03-2020
|
| Online Access: | Get full text |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Most executives are effective at formulating their strategy. Their frustration is with having their managers and employee teams implement their strategy. Evidence of executives failing to successfully execute their strategy is an increase in job terminations of CEOs. Boards of directors, no longer a ceremonial role, have become activists; and their impatience with CEOs failing to meet shareholder expectations of financial results is leading to job firings of CEOs, chief financial officers (CFOs), and executive team members. The strategy map and its associated balanced scorecard method with key performance indicators (KPIs) addresses this problem. It communicates the strategy to managers in a way they can understand it. By assigning targets for the KPIs and holding managers accountable to achieve or exceed their assigned KPIs, this aligns the managers actions and decisions with the strategy. |
|---|---|
| ISSN: | 0736-6981 1936-1009 |
| DOI: | 10.1080/07366981.2020.1750799 |