Strategy implementation in SMEs through the application of a BSC

SMEs in particular are able to respond more quickly than large companies to environmental influences internal/external changes and much more. This makes SMEs fast-acting and flexible companies. However when it comes to strategy implementation SMEs lag behind many large companies. Without a defined strategy and the measures required to implement it a strategic plan is difficult to put into practice. This book examines the balanced scorecard method in relation to corporate strategy implementation focusing on small and medium-sized enterprises. Based on a literature review covering the fundamentals of strategic and operational management and the structure and integration of a BSC including key performance indicators the current situation in SMEs with regard to corporate strategy and its implementation is recorded and analysed. The information obtained clearly showed that SMEs do have a strategy but that they pursue it using a wide variety of methods some of which are incorrect. This is where this book comes in making the BSC method tangible for SMEs and supporting them in implementing their strategy.