In the field of common and everyday language, it is common to use « objective setting » as an expression equivalent to « objective setting », a small linguistic license (apparently) that we cannot allow ourselves here without making some important prior clarification, because of the connotations that emerge from both expressions (notably differentiated from each other, as we will see shortly). Indeed, if we take fixation and establishment as synonyms , taking the sense of fixation as an unappealable stipulation of objectives, we can affirm that these are set in the first of the design and implementation phases of the balanced scorecard . However, it is important to remember that the objectives set in the WCC should not be taken, at any time, as fixed, rigid and immovable objectives. On the contrary: the strategic objectives established in the balanced scorecard must be solid , yes, and coherent , but in no way immovable.
They must be able to be monitored, evaluated and reviewed as appropriate: only in this way can we provide the CMI with the necessary flexibility and adaptability , necessary and desirable in equal measure. Having said this as a note for greater precision, from now on we will use fixation as a term compatible with flexibility and adaptability. Goal setting Setting objectives in the Phone Number List balanced scorecard As we know thanks to the abundant information on the design and implementation of the BSC, presented in the free guide 12 keys to defining an Integrated Scorecard and in previous posts, we can differentiate at least 3 stages in this process: Design: It mainly consists of two design phases, one functional and the other technical. From the first, the functional design phase, the strategy map is obtained , in which, among other key aspects, the objectives to be achieved will have been established (1st objective setting). Communication: consists, as we will remember, of the transmission of knowledge of the adopted strategy (and with it, the established objectives) to all members, levels, areas and departments of the organization.
A stage that no longer strictly addresses the design, and that inaugurates the implementation sequence of the balanced scorecard. Development and monitoring: the development of the CMI and its presentation to the corporate universe precede, together with obtaining the commitment of the members of the organization with the adopted strategy, the start and development of the functions of the control panel. This is where goal setting must be qualified in the terms described at the beginning of this post; If we take it as a concept under construction, never ending (and not unappealable), we will have understood one of the keys that determine the success of a CMI: its flexibility. Indeed, the BSC (and the objectives pursued by the strategy ) must constantly be subject to monitoring, evaluation and review , allowing for the appropriate modifications to be made to adapt it to the reality of the business ecosystem, which is alive and perpetually changing. Summing up, we can conclude that the first setting of strategic objectives in the scorecard is carried out in the first phase of the design stage ( functional design ) of the CMI; However, this does not rule out its subsequent review, modification, expansion or reduction, but quite the opposite: submission to constant review immunizes the BSC and the corporate strategy against rigidity and stagnation, an absolutely necessary prevention and key to success in the achievement of the established strategic objectives.