Is Implementing a Balanced Scorecard Wise During Tough Times and Layoffs?

Dear,

I would like to know the right time to launch and implement the balanced scorecard in a company that is facing deteriorating business conditions, a low market, losses, cost-cutting measures, low recovery amounts from the market, and layoffs.

Can anyone suggest if implementing the Balanced Scorecard under the above conditions would be helpful for the company?

Muhammad Hassan

BSC can launch at any time but start by understanding from the top and cascading to the bottom. HR should play a pivotal role, and other units, departments, and individuals should actively participate in this initiative. This will help in fair increments and performance appraisals as well.
Mr. Divekar is right; consultants can become very good catalysts to initiate it.

I would not advise implementing BSC in a declining business environment. It would just kill the initiative. Employees will become defensive and will view this tool as a way to force improvement in performance.

It's a valuable tool but needs to be used with precision at the right time.

Best regards, Raj