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Sandy Richardson

Hi Colin: I absolutely agree with you. It is critical that an organization define its strategy and strategic objectives (including strategic objective definitions) before selecting indicators.

I personally think that the strategy map is the best tool for doing this. Once an organization has a strategy map, you're right, the indicators almost fall out of it. The beauty of taking this approach is that you end up with a well aligned indicator set, giving you a powerful tool to actually measure and manage your strategy - providing you implement the processes, culture, and conversations you need to do a good job with this!

Colin Barr

In my opinion the power of the balanced scorecard concept really comes to life when the 4 perspectives are used as a framework for capturing the strategic objectives and targets the business wants to achieve. The process of establishing these objectives by working through the perspectives using a cause-effect approach is very logical and very accessible. The result is a truly cohesive plan and the business measures almost fall out of this automatically. Hence I would say that the achievement of a well structured set of objectives is also a great benefit which we can pitch to decision makers. Colin Barr www.stratile.com

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