Use the balanced scorecard or another similar tool to recommend indicators and measurements that will tell you if the company is successful or unsuccessful in progressing toward your vision through execution of strategy.
A balanced scorecard presents organizational performance on four primary groups of measures:
- Customer (external stakeholder)
- Learning and Growth
- Internal Process
You should develop a strategy scorecard that ties the performance of your business unit in these areas to its overall business strategy. The challenge you face is selecting 2â€“3 measures in each of the four areas that give a measurable and reliable indication of the business unit performance in the key activities that promote strategic fit, customer value, and sustained competitive advantage