How to Innovate in Marketing (Collection), 2/e

80. The Balanced Scorecard

The missing links between strategy development and strategy execution are communication and alignment. The Balanced Scorecard and Strategy Map are fabulous tools that will help you improve these two critical links. It will create and communicate a shared understanding of strategy, resulting in alignment. Alignment across multiple teams enables greater flexibility in creating and communicating new strategies based on changing market, competitive, and technological conditions.

A few years ago, Fortune Magazine published a shocking statistic that stated only ten percent of employees understand their company’s strategy.¹ This is consistent with other findings. Research from Harvard professors Robert Kaplan and David Norton, ...