Question
Company -Costco The Costco board would like to build a Balance Scorecard (BSC). Through strategy mapping, employees can see the causeand-effect relationships among the four
Company -Costco
The Costco board would like to build a Balance Scorecard (BSC). Through strategy mapping, employees can see the causeand-effect relationships among the four BSC perspectives (strategy maps use the BSC perspectives as a framework) and gain a better understanding of how the job they perform every day affects the organization's ability to achieve its strategic objectives. In building a high-quality BSC, pay attention to the following key guidelines:
a. Each perspective should contain four to six objectives (each objective will have at least one measure, possibly more). Having fewer than four creates a risk of a perspective being underrepresented; more than six makes tracking cumbersome and can take the spotlight off a few critical factors.
b. There should be a blend of leading indicators and lagging indicators. Consider the SMART (specific, measurable, attainable, realistic, and timely) approach to selecting the target for each goal. Provide citations of external research to help you come up with relevant objectives and appropriate measures to your company.
c. Provide a strategy map to visually demonstrate the cause-and-effect logic built into the strategy. Clearly explain those causal relationships among of the objectives of your BSC
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