Successful Balanced Scorecard Implementation Strategies for a Manufacturing Organization

Abstract

Up to 90% of businesses fail to execute their business strategies. Still, the effective implementation of a performance measurement system like the balanced scorecard (BSC) often leads to the implement a more successful execution of a business strategy. The purpose of this qualitative single case study sought to explore the successful strategies used by business leaders to implement a BSC effectively. Change theory was the conceptual framework for the study. Participants consisted of 3 business leaders of a manufacturing organization in Southeast Wisconsin, who successfully implemented the balanced scorecard within their business. Data were collected from face-to-face, semistructured interviews, and public documents. Data were analyzed according to Yin’s 5-step process of compiling, disassembling, reassembling, interpreting, and making conclusions. Three key themes emerged from the data analysis: develop a clearly defined business strategy with measurable strategic objectives, effectively communicate the business strategy to all stakeholders, and assign a project manager who will lead and monitor the implemented change. The implications for positive social change include the potential to improve an organization’s financial profitability and long-term sustainability, thus providing additional income for local communities, which could lead to improving the economic health of local communities