What are the Challenges of Implementing a Balanced Scorecard?
While the Balanced Scorecard is a powerful tool, its implementation can pose challenges, such as:
Complexity: Developing and maintaining a Balanced Scorecard can be complex and time-consuming. Resistance to Change: Employees and managers may resist changes required to align with new strategic objectives. Data Collection: Gathering accurate and relevant data can be challenging. Continuous Review: Requires ongoing review and adjustment to remain effective.