Balanced Scorecard as a strategy execution and management system

Without a proper execution framework, even the superior formulated strategy will be no more than another documented paper sitting on the shelves of the company, forgotten soon after being developed.

The balanced scorecard methodology provides the framework of translating strategy into action. It commences with the strategy development and formulation, which is then mapped and linked to the objectives of the different organizational units, divisions and cascaded down to the individual objectives of the employees.

Our strategy advisory practice aims to introduce this practice in Armenia, help businesses to learn the benefits and support throughout the installation and execution process. The practice, such widely accepted throughout the world (around 65-70% of companies operating in developed countries base their strategy execution process on Balanced Scorecards) is yet new in Armenia. EV Consulting has gained the knowledge and expertise on the practice directly from the developers of the methodology - Drs. Kaplan and Norton, The Palladium Group.

EV Consulting's Managing Partner Manuk Hergnyan has been recently granted a Kaplan & Norton Balanced Scorecard certification. Dr. Robert Kaplan (Harvard Business School) and Dr. David Norton (The Palladium Group) are the creators of the BS method.

Manuk Hergnyan became also a Charter Member of the Execution Premium Community formed by the Palladium Group, a community of selected certified BS practitioners who enjoy professional support by the creators of the concept.

Read further

• Introducing Balanced Scorecard, an EV Periodical article on the Balanced Scorecard by Sona Grigoryan
• EV Solutions: the Balanced Scorecard implementation