The practical and operational implementation of the strategy requires the definition of objectives and indicators for compliance, by means of developing an Balanced Scorecard(BSC) and/or individual or departmental indicators for performance.
The Balanced Scorecard (BSC) allows the strategy and business plan of the organisation to be transformed in objectives and missions, enabling:
To clarify the strategy and achieve consensus about it, making it tangible and with quantifiable objectives and missions.
To link strategic objectives with long term objectives and annual budgets.
To communicate the strategy to the whole organisation.
To align departmental objectives and those of the company by defining specific objectives which correspond to those of a global nature.
To realise the follow-up and quantify the degree of fulfillment of the objectives, by means of indicators to the integral management dashboard.
To realise strategic periodic and systematic revisions, both to adjust it as much as to learn about the strategy and to improve it.