Performance Management - Making It Work, Part 2: Strategy Maps and Balanced Scorecards for Navigation and Speed

Topics:
Balanced Scorecard,
Performance Management,
Strategic Management Tools
Tags:
Action Plan,
Balanced Scorecard,
Better Management.com,
KPI,
Management,
Performance,
Performance Management,
Strategy
Source:
Better Management.com

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Overview: Strategy maps and scorecards are excellent tools in the quest for a strategy-supporting measurement system that links to operations and tactics. These are management tools that establish strong relations between the vital areas of the strategy and the organization's measures. Strategy maps define strategic objectives and associated initiatives and action plans that support the organization's vision and mission, and the Key Performance Indicator (KPI) measures, when scored, signal whether the action plans are succeeding. Some of the KPI measures, strategic or operational, lend themselves to monitoring from an Activity-Based Management (ABM) system.

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