Dear all,


I would like insight on the use o of the BSC for small firms as they lack resources and have a relatively low level of complexity ,and what in that view what would be a simple management system for that.


Also how would different "Grand Strategies" be represented on a strategic map, eg. Strategic alliance, market development and Concentrated Growth.


regards,

Yuri Lengue

Dear Yuri,
There was an excellent article about the relevance of the BSC to small firms. It was in the Jan/Feb 2008 Balanced Scorecard report (article ref is B0801E) and you can order this from the Harvard Business Press web site as a download.
I have worked in this area for the past 5 year and concluded that you do need to produce a strategy map but a simple one with say two strategic objectives in no more than 3 or 4 themes. You can then use this to create a discussion/dialogue with customers, colleagues and suppliers to help you define what, in their terms. you firm is good at - called 'do wells'.
All the evidence is small firms need specific focus and this approach helps to target limited resources. The other major carry over from large scale implementations is the process of creating, then rationalising initiatives to help reinforce the strategy execution.
Best of luck with your implementation.
Andrew

Hi, Andrew,

what is your measurement for small firm in terms of annual turnover?

Hi Ruslan Dmitriev ,

Speaking of KPI for annual turnover. www.smartkpis.com may be a good resource for you. It contains a user friendly library of well-documented performance measures. At the moment it lists over 3300 KPI examples, grouped in 73 functional areas, as well as 83 industries and sub-categories.

KPI examples for accounting and finance are available on these pages
">http://www.smartkpis.c...i/f.....accounting/

">http://www.smartkpis.com/...-areas/finance/


In addition to examples of performance measures, www.smartKPIs.com also contains a catalogue of performance reports that illustrate the use of KPIs in practice.

Examples of such reports for accounting and finance are available on: ">http://www.smartkpis.c...i_e.....accounting/

">http://www.smartkpis.com/...-areas/finance/


The website is updated daily with new content, so check it from time to time for additional content.

Please note that while examples of performance measures are useful to inform decisions, each performance measure needs to be selected and customized based on the objectives and priorities of each organisation.

Best regards,

Anita Liang
Research Analyst
www.smartKPIs.com

Edited: 08/25/2010 at 10:34 PM by eab grp