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Implementation of Strategic Planning Tool to Achieve Long Term Financial Plan

by | Oct 28, 2021 | 0 comments

Balanced Scorecard Approach to Define 3 Year Financial Plan

Challenge

Multi-billion $ organization acquires a small family owned business in an adjacent market with a rapid global growth expansion plan.

Solution

As Division Controller for the acquired business, selected the Balanced Scorecard as the tool to develop a 3 year strategic plan as the basis for the financial plan.

Implementation

Trained the entire management team, across all disciplines, in the Balanced Scorecard process with the goal of linking the business strategy to the financial plan. From a Financial, Customer, Internal Business Process and Learning and Growth Perspective worked with the management team to develop a Strategy Map highlighting the company’s Objectives, Measures, Targets and Strategic Initiatives. This involved defining specific written goals, how to measure progress, achievable targets and how to get there.

Results

The introduction of the Balanced Scorecard process and Strategy Map helped each of the management team members understand and monitor the actions needed to achieve the global growth plans for the company. It also provided the acquiring organization with insight into the plans, timing and funding requirements needed to meet their financial goals.

Implementation of Strategic Planning Tool to Achieve Long Term Financial Plan

by | Oct 28, 2021 | 0 comments

About the Author

Anita P. Moulton, CPA

Anita P. Moulton, CPA

CFO Partner

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