Balanced Scorecards: Measuring Corporate Strategy from the Top Down 

                  

    CHAPEL HILL, N.C., Jan. 22 /PRNewswire/ -- Savvy executives involve
high-level senior management when deploying their balanced scorecards to gain
full organizational buy-in, according to a study from benchmarking leader Best
Practices, LLC.  Executives who do not gain the organization's confidence in
the scorecard fail to accurately identify key drivers of overall performance
and thus are never able to develop methods for continuous improvement.
    "Developing a Balanced Scorecard of Performance Measures," available at
http://www.BenchmarkingReports.com, includes metrics that offer insight into the
development, implementation and evaluation of effective performance measures.
For example, the report reveals that almost half of the executives at Global
1000 companies are dedicating significant resources to scorecard development
and implementation.  Among those organizations with successful scorecards, 50%
involved CEOs and 80% involved senior vice presidents in the development
process.  Moreover, 72% of companies' mid-level management currently use
scorecards in internal communications.
    The leading practices, managerial insights and benchmark metrics in
"Developing a Balanced Scorecard of Performance Measures" are drawn from
lessons learned interviews with 22 world-class companies across 12 industries.
The report also includes analysis of scorecard development processes, actual
corporate scorecards and over 300 performance metrics used by companies, which
can be used to:

    * Create a plan for scorecard design.
    * Avoid costly mistakes that derail scorecard implementation.
    * Align the balanced scorecard with corporate strategy, goals, and
      management systems.
    * Communicate the balanced scorecard throughout the organization.
    * Develop systems to effectively report key performance measures
      throughout a global enterprise.

    "Companies can cut costs in so many places -- they just need to know where
to look," observes Chris Bogan, CEO of Best Practices, LLC.  "The balanced
scorecard is like a divining rod that leads to hidden cost cutting and
performance improvement opportunities."
    "Developing a Balanced Scorecard of Performance Measures" is available for
purchase at http://www.benchmarkingreports.com/pr/op67.htm.  For more
information, contact Amy Clemmons at 919-403-0251 x241 or
aclemmons@best-in-class.com.

    ABOUT BEST PRACTICES, LLC
    Best Practices, LLC, of Chapel Hill, NC, conducts work based on the simple
yet profound principle that organizations can chart a course to superior
economic performance by studying top companies' best business practices,
operating tactics, and winning strategies.  For more information about Best
Practices, LLC, call 919-403-0251 or visit the corporate website at
http://www.best-in-class.com/ .



SOURCE Best Practices, LLC
Web Site: http://www.best-in-class.com