The Balanced Scorecard

Simulation Overview

In this multi-player asynchronous simulation, learners can experience the pros and cons of using a balanced scorecard to implement strategic ideas and monitor the company’s performance.

The Story

A small group of participants work together over the course of 8 rounds to implement a strategy for their company, create a strategy map, develop a balanced scorecard, choose initiatives to implement their strategy, and use feedback from the balanced scorecard to adjust their implementation approach. At the end of the simulation, each team’s company will be purchased by a private investor. The goal in the simulation is to increase the value of the firm at the time of the buyout. The buyout itself depends on the company’s profitability and its future prospects.

Learning Focus

• Learn how firms use the balanced scorecard to define, implement, and measure strategy execution.
• Learn how a well-designed strategy map can help managers think about and communicate strategy.
• Understand how managers set target objectives, invest in initiatives, take measurements, evaluate effectiveness, and take corrective action.
• Recognize that having the right non-financial metric provides an early indication of performance which is important in highlighting the need for mid-course corrections.

Topics Covered

• Accounting
• Budgeting
• Balanced Scorecard
• Strategy management
• Finance

Each simulation comes with a Teaching Guidebook for the facilitator along with 1:1 facilitator training and free trials.

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This simulation is by V.G. Narayanan, Harvard Business School Publishing, and Forio