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.