Balanced Scorecard and Compensation Management

Author: Qin Yangyong
Publisher:
Publish Date: 2007-01-01
Features: In the construction of strategic center organizations, as a strategic management tool, the Balanced Scorecard (BSC) can promote the proactive and conscious review of corporate strategy by senior management; as a performance management tool, the Balanced Scorecard is ultimately designed to motivate and guide employees in effectively executing the company's strategy. Therefore, only by achieving a reasonable integration with the compensation system and obtaining effective support from the compensation and reward mechanisms can the Balanced Scorecard have its true practical significance. The main content presented in this book is the operational steps of the Balanced Scorecard and compensation management transformation, as well as how to handle the interface between BSC and the compensation reward mechanism. Additionally, it provides practically meaningful integration of the Balanced Scorecard (BSC) with other strategic performance management tools such as Management by Objectives (MBO), strategic KPIs, and stakeholder scorecards in terms of operational methods.