Behind every success of a business initiative or strategy lies on its implementation. There are a lot of different approaches presented in the past, each promises to bring a company on top of the competition. But then again, this will only remain as a mere theory if not given appropriate attention. This is the reason why a certain business approach may work wonders for a particular organization, but fail to deliver on another. Same is true with the balanced business scorecard concept. But what went wrong? Here are some of the reasons:
(a) Leadership. This is one of the many predictable reasons why a certain business approach, such as the balanced scorecard concept, will not work on every organization. Full attention is needed and every tiny detail should be taken into consideration. A good leader may meet certain needs but a great leader will go on extra mile and exceed company and customers expectations. This will motivate employees to do well on their daily tasks and will eventually lead to business success. (b) Communication. To be successful in implementing an initiative, then make it easier for people to understand the concept behind it. Communicate well why this should be done to inspire them more on what they do. Make each task as simple as possible as complexities only lead to potential failure. (c) Timing. Appropriate timing is crucial in any business operation. There are certain deliverables that need to be on top priority. Make each step orderly and precise with a little sense of urgency. (d) Expectations. Expecting too much may only lead to disappointments. If a balanced scorecard has proven that a strategy is not that feasible, make appropriate changes. Don ‘t settle for anything less as innovation is needed for the business to grow and improve.