Balanced Scorecard in Insurance and Banking
rajiv gupta, Business Consultant, India, Member
I have run a BSC programme in an insurance co for the last 4 years aligned with a strategy map. It has been a tremendous learning experience. Have cascaded it to the departmental lead level also. BSC is altogether a paradigm change as besides being a much more systemic approach to goal setting, there is a much sharper focus on team/individual performance aligned with the strategy of the co which is altogether rare here as the prevalent practice is for performance accountability loosely linked with strategy. There are several other benefits as well.