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METHODOLOGY FOR IMPLEMENTING THE BALANCED SCORECARD INTO STRATEGIC PLANNING SYSTEM OF INDUSTRY DEVELOPMENT IN THE REGION
Abstract
The article presents speculation about the possibility of using a corporate tool of strategic planning, such as the balanced scorecard (hereinafter BSC) at the sectoral management level. We propose BSC constructing method for the regional industry (in the context of the Stavropol Territory of the Russian Federation). According to this method, the existing mission of the region's industry is used to build a strategy map, select key performance indicators to achieve the strategic goals, as well as describe control procedure. The developed technique has been tested practically that allows drawing conclusion concerning its efficiency and possibility to implement into management practices at the industry level. Territory has proven to be effective because: firstly, the system increases the transparency of the strategic planning process for all stakeholders; secondly, establishes a clear logical relationship between objectives at various management levels; thirdly, structures the selected targets for different groups, i.e. defines projections, simplifying thereby the control over their implementation; fourthly, establishes a clear link between selected targets and key performance indicators for their achievement; and fifthly, fixes specific targets and indicators for particular departments and officials that increases the responsibility of the functionaries for their achievement.
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