Eighteen years ago, Dr. Robert Kaplan of the Harvard Business School developed a methodology for strategic business planning. It's something every "do-it-yourself" entrepreneur can't afford to miss out on. It's called the Balanced Scorecard (BSC). Some may have heard about it. But not enough are putting it to use.
President and CEO of Sendouts, Donald E. Breckenridge, Jr., explained how recruiters and firm owners can apply the methodlogy in a March 2008 Fordyce Letter online. He explained the basics -- which are centralized around the idea that business activities should be aligned around the vision and strategy of the organization and that there should be metrics to measure success. Breckenridge also explained the four-fold perspective:
- The Financial Perspective
- The Customer Perspective
- The Internal Process Perspective
- The Learning & Growth Perspective
The BSC truly helps define the right perpespectives. It is an undervalued asset to those in the recruiting and staffing industry. Check out the article in Fordyce Letter online. When implemented, the BSC provides the line of attack to define, communicate, measure and manage a business strategy and to achieve ultimate decisive and critical financial goals.
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