Contrasting uses of balanced scorecards: case studies at two UK companies

Abstract

Abstract This article considers two contrasting applications of the balanced scorecard, at EDF Energy and Tesco, where the scorecard is called a steering wheel. A distinction is drawn between a strategic scorecard based on vision and a performance management scorecard based on mission and values. This difference makes the associated balanced scorecards useful to management in different ways. Our model demonstrates how different balanced scorecard approaches can complement each other for effective strategic management. This conceptualization is consistent with a perceived general tendency for large multinationals to use values to strategically manage from the center organization‐wide core competences. Copyright © 2008 John Wiley & Sons, Ltd.

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