Indicative FSP

Improving the Strategic Alignment of Decision-Making for the Effective Implementation of the 5 Years Business Plans

Starting from the general (corporate) strategy description, the corporate objectives are identified, followed by the examination of the business objectives of each country of strategic interest abroad. Those objectives and linkages between them are visualized using strategy maps. Describing the strategy should enhance alignment of company objectives, giving the base for its performance measurement. This study proposes the base for the development of a consistent performance measurement system of ELPE’s international activities. The Balanced Scorecard (BSC) approach is used for identification, elaboration and linking the performance measures in the four perspectives proposed by this methodology: financial, customer, internal and learning and growth perspective. Prototypes of the BSCs for seven companies of ELPE’s interest are developed in order to identify the criteria and tools for measuring their objectives. This process should lead to the translation of the company’s strategy into operational terms, providing guidelines how actually to manage the strategy. The framework for identifying the clear and unambiguous action plan is introduced, in the form of the adaptable generic table of international division’s objectives, measures and initiatives.

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