These 20 companies achieved greatness using the Balanced Scorecard—and you can too.
Strategic planning is a vital aspect of your company’s success—but when it comes to actually executing on that strategy, you might feel completely lost. If your current management system just isn’t getting you to where you need to go, it’s time for a better solution.
Introduced in the early 1990s, the Balanced Scorecard (BSC) is one of the world’s top strategic management frameworks. It combines four different business perspectives—financial, customer, internal processes, and people—to help companies understand and achieve their organizational objectives. The Balanced Scorecard does not create strategy; rather, it organizes it in a visually-friendly format.
The Balanced Scorecard does not create strategy; rather, it organizes it in a visually-friendly format.
Although the Balanced Scorecard was introduced decades ago, it's still relevant and widely used. 2CG, a strategic execution consultancy firm, has been conducting yearly surveys about the Balanced Scorecard since 2009 in an effort to better understand why and how it’s used. (You can find results from all nine of 2CG’s studies here.) Of the organizations that participated in the 2017 survey:
- 77% report that their Balanced Scorecard is extremely or very useful.
- 75% use the Balanced Scorecard to influence business actions.
- The Balanced Scorecard is used by both small and large organizations: 61% of respondents had less than 500 employees, and 9% had over 10,000 employees.
These survey results show that companies using the Balanced Scorecard are consistently benefitting from it. In fact, I bet you’ll recognize many of the companies below that have integrated the Balanced Scorecard in their organization. If you click each link, you’ll be able to read some Balanced Scorecard case studies and learn how the BSC has helped each of these organizations. Below this list, we also describe the benefits you will get from implementing a scorecard in your organization.
20 Companies Using The Balanced Scorecard
Private Sector
Automotive:
- Volkswagen
- Ford Motor Company
Banking:
- Wells Fargo
- Citibank
- TD Canada Trust
Energy:
- Mobil North America Marketing and Refining (NAM&R)
Environment:
- Veolia Water
Electronics:
- Philips Electronics
Healthcare:
- Sunnybrook Health Sciences Centre at the University of Toronto Hospital
Manufacturing:
- Borealis
- FMC Corporation
Shipping:
- UPS
Technology:
- Apple
- Microsoft Latin America
Telecommunications:
- Verizon
- AT&T
Public Sector
Local Government:
- City of Charlotte, NC
U.S. Government:
- Defence Logistics Agency
- Federal Bureau of Investigations (FBI)
Higher Education:
- University of Virginia
Source: Clear Point Strateg
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