Abstract:
This study aims to identify drivers and hindrances of strategy execution when using the balanced scorecard execution premium (BSCEP) process. Strategy execution consistently remains a global challenge. Chief executive officers (CEOs) have been removed as a result of failure to execute strategies. Countries have excellent policies and strategies on paper that they are failing to execute.
Many strategy execution processes and frameworks have been designed to enhance strategy execution. The strategy execution gap, however, is still real. The BSCEP created by Kaplan and Norton claims to address this gap. Some authors have commented on the standard BSC, either as critics or admirers of the framework; however, few authors have given an account of practical experiences in using the BSC process to execute strategies. There is limited literature or commentary about the role of the BSC in strategy execution.
Qualitative multi-method strategies were adopted. A case-study analysis, phenomenological study and autoethnography account were employed, using a triangulation approach. The objective of this study is to contribute to the body of knowledge by providing a view of the practical experience of using the BSC for strategy execution. The findings provide strategy practitioners, company CEOs and academics with an understanding of challenges encountered when translating the BSC framework, as a theoretical concept, into action.
The findings suggest that the drivers and hindrances of strategy execution using the BSCEP were mainly organisational. Organisational readiness in using the BSCEP is, therefore, an important factor in the successful implementation of the BSCEP.
