Vaidyanathan Ramalingam’s Post

Khalid ALMutairi: Awesome information and Thanks! adding further: Here are the reasons why a #BalancedScorecard is important alongside these other methods: 1. Comprehensive View: #OKRs, #SMARTGoals, and #KPIs often focus on specific aspects of performance such as objectives, specific targets, or key metrics. However, a Balanced Scorecard provides a comprehensive view by incorporating multiple perspectives such as financial, customer, internal processes, and learning and growth. This ensures that all aspects of organizational performance are considered and aligned. 2. Alignment: While OKRs, SMART Goals, and KPIs are effective for aligning individual or team objectives with organizational goals, a Balanced Scorecard takes alignment a step further by ensuring that strategic objectives are linked to operational activities. It helps in cascading objectives across different levels of the organization and aligning them with the overall strategic direction. 3. Balance between Leading and Lagging Indicators: OKRs and SMART Goals often focus on leading indicators, such as activities or behaviors that drive future performance. KPIs, on the other hand, typically include lagging indicators, such as financial metrics. A Balanced Scorecard combines both leading and lagging indicators, providing a more holistic view of performance and enabling proactive management. 4. Long-Term Perspective: OKRs and SMART Goals are often set for shorter time frames, such as quarterly or annually, focusing on achieving specific outcomes within those periods. While this is important, a Balanced Scorecard encourages a longer-term perspective by including objectives and measures related to the organization's vision, mission, and strategic priorities. 5. Focus on Strategy Execution: A Balanced Scorecard helps organizations to not only set strategic objectives but also to execute them effectively. By including measures related to strategy implementation, it provides a framework for monitoring progress, identifying areas of improvement, and making necessary adjustments to ensure that strategic goals are achieved. 6. Communication and Transparency: A Balanced Scorecard facilitates communication and transparency by providing a common framework for discussing and reporting performance across different functions and levels of the organization. *Views are personal Vaidyanathan Ramalingam USR INFO.TECH (Global niche player in PMS - For multi-collar workforce, White label with AI) ------------------ #balancedscorecard #strategicdesign #strategicleadership #strategy #strategyconsulting #strategyexecution #strategytoexecution #strategyimplementation #strategydevelopment #strategymanagement #strategyplanning #strategicconsulting #strategyandtransformation #strategyexecution #okr #okrs #performancecoach #performancemanagement #performanceappraisal #kpi #kpis #keyperformanceindicator #chro #digitaltransformation #cxo #hrconsulting #managementconsulting #peopleadvisoryservices #hradvisory