Corporate Strategy and the Balanced Scorecard
Every enterprise finds itself in the position of facing and interacting with the environment that it is surrounded by. Enterprise has to outline the corporation’s identity in its relationships with the outside: more specifically, it consists of the special entrepreneurial formula i.e. it is how the company specifically responds to the manifold expectations/needs of the various parties that it interacts with.
In this chapter, we describe the formation process leading to corporate strategy and the role of the Balanced scorecard in strategy management by exploring the relationship between the Balanced scorecard and the four main engines of strategy management: (1) the strategy control loop, (2) the strategic intent formation loop, (3) the entrepreneurial and innovation loop and (4) the value, aspiration and attitude review loop (in brief, the “mental models”) of the top management.
KeywordsCorporate strategy Strategy formation Intentional strategy Deliberate strategy Realised strategy Emergent strategy Strategy review loops Strategic control
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