Q. Process to implement balanced scorecard?
1. A clear vision of introduction of a BSC communicated and demonstration which senior management are committed to the idea.
2. Education given to all managers and staff of the concept of the BSC e.g. workshop seminar or letter to staff for better understanding.
3. According to Kurt Lewin's three stage approach to change, unfreeze existing beliefs by creating dissatisfaction with the current situation, hold consultative meetings and presentations, educate and communicate the reasons why change needs to occur.
4. Participation encouraged by all staff and management to aid change e.g. consultation and evaluation of different solutions, keep an open mind and listen to those affected.
5. Plan and determine how change needs to take place and set objectives and timescale for the introduction of a BSC system.
6. Implement change e.g. systems introduced for gathering information as well as training given to staff andmanagers.
7. Staff appraisal systems and Reward modified and linked to performance measures.
8. Review and feedback obtained periodically to ensure the change process has been successful, and frequent updating of certain measures if they are no longer appropriate.