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Designing A Strategy To Effectively Communicate The Balanced Scorecard, Andra Gumbus, Bridget Lyons, Tom Wilson
Designing A Strategy To Effectively Communicate The Balanced Scorecard, Andra Gumbus, Bridget Lyons, Tom Wilson
WCBT Faculty Publications
As increasing numbers of organizations adopt the balanced scorecard (BSC) to align strategy with operations and measure progress toward meeting strategic goals, the importance of successful communication of the scorecard throughout the organization has become apparent. Successful implementation and effective use of the BSC occurs when organizational stakeholders recognize its role, use, and benefits. In the March/April 2003 issue of Cost Management, we detailed how Bridgeport Hospital, a member of Yale New Haven Health System (YNHHS), adopted the BSC and used the scorecard to align capital investment decisions with strategy.1 In this article, we will profile how the hospital designed …
The Balanced Scorecard At Philips Electronics, Andra Gumbus, Bridget M. Lyons
The Balanced Scorecard At Philips Electronics, Andra Gumbus, Bridget M. Lyons
WCBT Faculty Publications
The drive to implement the balanced scorecard at Philips Electronics came from the top down - as a directive from the Board of Management in Europe to all Philips divisions and companies worldwide. The directive went to each of the companies and their quality departments, with the effort in the medical division headed by the Quality Steering Committee that reports to the president of Philips Medical Systems. Philips Electronics has used the balanced scorecard to align company vision, focus employees on how they fit into the big picture, and educate them on what drives the business. An essential aid to …
Pitney Bowes Calls For New Metrics, Mark Green, Jeanine Garrity, Andra Gumbus, Bridget Lyons
Pitney Bowes Calls For New Metrics, Mark Green, Jeanine Garrity, Andra Gumbus, Bridget Lyons
WCBT Faculty Publications
The importance of measuring strategy and action plans is here to stay. That is why savvy companies are using a scorecard. Pitney Bowes Inc. is one company that believes in the balanced scorecard. At PBI the basis is in place with a newly defined mission statement, individual objectives linked to the mission, and metrics designed to measure progress toward achieving those objectives. The company has been successful on several fronts. In fact, the balanced scorecard approach helped PBI to improve a process in its core business and ultimately saved the company millions.