While many of us agree that the Balanced Scorecard is an excellent Strategic tool, the implementation has not been that easy and hence the return on investment on such an initiative has been minimal! The question is why? Based on my recent consulting and training experience, and the feedback that I get from clients and friends, here is what many believe are the main reasons:
* Lack of accountability in the organizations (for results, rewards and career growth)
* Poor understanding by all across the organization about the process prior to implementation
* Lack of senior management involvement
* Lack of on-going training
* Very high expectations
* Rewards in many companies are still not 100% tied to targets
What is missing?
What is your experience on the above!
Meirc Training & Consulting is offering a series of training programs in 2010 under the umbrella of "Strategic & Planning" including the Balanced Scorecard. Several topics will be presented and discussed in those programs, including but not limited to: importance of vision and mission statements, SWOT analysis, developing strategic goals, objectives, KPI's and units of measures. We also talk about the importance of initiatives at all levels and how to set SMART targets to move the organization towards its vision.