First Commonwealth Financial Corporation, the financial institutions in central and southwestern Pennsylvania, implemented Balanced Scorecard for the description and implementation of its new customer-focused strategy. Its founder and chairman decided that Balanced Scorecard should also be a major input to the corporate governance process with the board so that the board can become more aware of and more involved in the company's strategy. Describes how the board became aware of the company's Balanced Scorecard and how it helped develop Balanced Scorecard for itself. In addition to the enterprise and desktop performance, the company has also developed a system of indicators for each senior executive management and compensation committees to assess and reward high performance management. Extensive exhibits illustrate three different indicators and reports, and supporting documents for these indicators. "Hide
by Robert S. Kaplan Source: Harvard Business School 30 pages. Publication Date: November 4, 2003. Prod. #: 104042-PDF-ENG
Related Case Solutions & Analyses:
The Practice of Global Product Development (With Updates by Steven D. Eppinger)
SABIS – Global Educational Venture From Lebanon
Organizational Dimensions of Creativity: Motion Picture Production
Sun Microsystems
Managing Xeroxs Multinational Development Center (Abridged)
People Express Airlines: Rise and Decline
Information Technology in Organizations: Emerging Issues in Ethics and Policy
CoCubes.com: Connecting Colleges (to) Companies
The Backyard Harvest: Outgrowing Hunger One Community at a Time
Climate Change
