Chemical Bank case

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Case 1: Chemical Bank: Implementing the Balanced Scorecard mark page 233-252
Questions for the subject of discussion:
1. What does Mike Hegarty long for to accomplish with the BSC ?
2. Comment without ceasing the BSC implementation at Chemical’s Retail Bank ?
3. What pitfalls destitution to be avoided for a successful BSC project?

Balanced Scorecard Implementation Pitfalls to Avoid
There are many Balanced Scorecard implementations where companies slip on't seem to get all the benefits described overhead. Research and experience have identified unlike each other traps and pitfalls; main ones to eschew are listed below.
Taking Strategy Design shortcuts.
Many companies take a balanced scorecard that has been designed by a similar organisation in their persistence and just copy it. Others take the four box BSC prototype and hold a brainstorm session to delineate objectives into each of the perspectives in the absence of ever reflecting on the strategy. Both of these be possible to lead to a BSC that does not mirror your strategy. Creating and agreeing up~ the body your own strategy requires efforts, discussions and mind.
Designing your strategy should involve the whole of key stakeholders and ensure that you be in possession of a unique set of interrelated objectives that contemplate your business at this point in time. Initial exterior facilitation often helps and allows to overpower internal politics and power struggles.
Not Creating a Strategy Map.
Missing fully strategy maps is one of the biggest mistakes somewhat organisation can make. Having one integrated sharpen of objectives on one piece of is such a powerful tool and the action of designing a strategy map look after to yield some of the biggest benefits. This is supported ~ means of research with 157 companies conducted ~ dint of. the Wharton School which finds that without more 23% of companies consistently built, analysed, and tried causal models. However, the survey furthermore finds that those organisations which used strategic maps had a 2.95% higher ROA and 5.14% higher ROE than companies that didn't practice cause-and-effect models.
BSC may not have existence...

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