Balanced Scorecard: Strategic Performance Measures Improve Corporate Strategy Execution

    CHAPEL HILL, N.C., Oct. 7, 2002-- Top companies utilize a balanced
scorecard as a vehicle to deploy corporate strategy and as a useful approach
to managing corporate performance.  According to a study by research and
consulting firm Best Practices, LLC, consistently updated, balanced scorecards
help channel limited resources to critical functions and better measure
corporate performance.  Balanced scorecards strengthen communication of
corporate goals, enhance customer service and focus strategy deployment.
    "Developing a Balanced Scorecard of Performance Measures" available at, reveals how world-class
companies successfully implement balanced scorecard initiatives.  For example:

    * Benchmarked companies communicate the importance of fast formation of
      balanced scorecards to measure performance: 86% of all benchmarked
      companies created their scorecards in nine months.
    * Benchmarked companies ensure scorecard measures are linked to
      compensation: 79% of the companies included compensation metrics while
      64% also utilize performance appraisals and reward and recognition
    * To reflect changing strategy, 62% of benchmarked companies update
      balanced scorecards annually, while 38% update every three to six

    The study contains frequently used performance measures, strategies for
communicating the balanced scorecard and the most effective approaches for
reporting corporate performance from 22 world-class companies across
12 industries.  Key findings include:

    * Analyses of scorecard development processes
    * More than 20 actual corporate scorecards and more than 300 performance
      metrics used by benchmarked companies
    * Corporate strategy communication tools
    * Measures for integration of balanced scorecard with corporate goals

    "The balanced scorecard helps companies focus on all the factors that
affect the bottom line," said Alex Lyons, manager at Best Practices, LLC.
"It's like a divining rod that leads to hidden cost-cutting and performance
improvement opportunities."
    To download a report summary of "Developing a Balanced Scorecard of
Performance Measures," visit .
For more information about this report or other benchmarking reports, contact
Jeanne Langley at (919) 767-9258 or at

    Best Practices, LLC is a research and consulting firm that conducts work
based on the principle that organizations can chart a course to superior
economic performance by studying the best business practices, operating
tactics and winning strategies of world-class organizations.  For more
information, call 919-403-0251 or visit