Scorecard Best Practices

Chapter 7. Implementation Strategies

Scene: It is early morning in a coffee shop near Patrick's office. Patrick is sitting at a small table on which there are two cups of coffee. Ted enters the coffee shop and sits at the same table … Patrick: “Good morning, Ted. Glad that you could arrange to meet me here. I've taken the liberty of getting you a cup of coffee, with cream. Would you like a bagel or something?” Ted: “Thanks for the coffee, but I'll have to pass on anything to eat—got to watch those extra carbs.” Patrick: “I know what you mean. I've finished going through the last set of reading material that you gave me. There sure are a lot of things you need to consider when designing a scorecard system.” Ted: “Like what?” Patrick: “Aside from categorizing performance measures for your scorecards, an organizing framework is helpful when taking strategy statements, such as the organization's vision and mission, and developing and organizing strategic objectives from them.” Ted: “Good. What else?” Patrick: “The scorecard system does not live in isolation. It's important to recognize how the scorecard ties into a number of other management initiatives—how is it tied to strategy, performance evaluation, and compensation programs. Also, it's important to consider how your existing systems and initiatives will support the scorecard system.” Ted takes a sip of his coffee. Ted: “This is good coffee—I'll have to remember this place. Those are definitely good points to keep in mind when ...