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Knowledge of a strategy tool is one thing, but its application in practice is another!

This week, our guest Daniel Dommes from Raiffeisenlandesbank Oberösterreich demonstrated the challenge of implementing a Balanced Scorecard (BSC) in our introductory strategy course and in the Essentials of Strategic Management course.

[Translate to Englisch:] Reisinger ESM RLBOÖ

Daniel Dommes, himself a JKU alumnus, reflected: 'During my studies, I didn't realise that I would actually need a concept like the BSC in my professional life. I then learnt how useful a BSC is, but also how difficult it is to introduce it, while working in Operations at RLB Oberösterreich.’

We discussed the following points with our guest:

  • How do you concretise a strategy and derive motivating goals?
  • Which key figures are suitable for driving implementation and assessing progress?
  • Why is implementation often much more difficult than conceptualisation?
  • What role do leadership and communication play in the implementation process?

The key realisation from our discussion: strategy tools are not effective through their existence - but through their application. Only when they are understood, adapted to the context and supported by the people involved can they realise their full potential.

A big thank you to our students for their contributions and to Daniel Dommes for the exciting insights into real-life practice!

Sabine Reisinger & Sandra Janko

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