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Since the BSC was first introduced over ten years ago people just getting acquainted with the
framework have often asked “Does it work?”  By now, with thousands of organizations around
the world relying on this method to manage their strategies, the question has turned to “How
does the BSC really work?  What are the best examples of how to use it so I can learn from
others and accelerate my progress toward achieving the benefits of my strategy?”
In response to these questions we have been embarked on a series of research efforts over
the past few years to provide the details behind the most impressive success stories—thus,
the BSC Hall of Fame.
This research, while not surprising, provides a set of insights from which all BSC users can
benefit.
#1.  Successful companies use the BSC as part of an overall approach to management (we
refer to this as “Strategic Management.”)
#2.  There is a consistent set of best practices that create the core of this management
approach.  This page—page 7— lists the 2004 SFO best practices that we have identified in
research and consulting with hundreds of BSC users around the world.
#3.  The key finding from all of this work is that The higher the level of excellence in managing
these practices, the higher is the level of benefits.
#4.  Mastering this set of Strategic Management best practices represents a core competency
for an organization.  These practices can be identified, codified, and transferred to others,
helping to move Strategic Management from an art to a science.
#5.  Based on our experience, organizations that want to reap the high benefits of Strategic
Management should benchmark themselves against these best practices and develop their
own program to make Strategic Management a core competency.