|The Balanced Scorecard (BSC) has been a great step forward for companies that thought success was focusing just on the bottom line. Norton and Kaplan said that Financials are fine but we must also think about Customer Satisfaction, and what about our Internal Business Processes, and what about Learning and Growth? Setting up a dashboard of indicators allowed organisations to derive a Vision and Strategy as its centrepiece. They could then have a better knowledge of where they were really going, and could respond more effectively to change in the market.
But for the BSC, direction is really about making the company successful in the short-term. Because it doesn't think about the organisation's impact on society and the environment, it can't take into account the changes that will be forced upon it, nor the opportunities that lie in change. Roger Kaufman (Prof. Emeritus) suggested to me that I should update the BSC to present day realities and call it the BSC+ (in line with his Strategic Planning Plus and his TQM+). So I did and the ASTD website published the article (as a response to an article on Human Performance Improvement or HPI). I also tied it in with the whole process of feedback that would align the organisation.
Since the BSC is still used effectively by many, why not consider the BSC+, well suited for the Sustainability planning that is starting to change the direction of the more enlightened companies today.
Labels: 360 feedback, Mega Planning, Strategy, Sustainability