As of September 1st 2015, the U.S. based Balanced Scorecard Institute (BSI) - a global leader in training and consulting services of the Balanced Scorecard (BSC) and Key Performance Indicators (KPI) has partnered with Balanced Scorecard Vietnam (BSV) to deliver their world-class BSC and KPI programs. As the exclusive partner of BSI in Vietnam, Laos and Cambodia, BSV is also a member of PACE Institute of Management (PACE), which has been a leading institution for business leaders and managers in Vietnam for the past 15 years.

The concept of BSC first came to prominence in a 1992 article by Drs. Kaplan and Norton. The article, published in the Harvard Business Review revolutionized global conventional thinking regarding strategic planning and strategy execution, as well as performance measurement and management. The implementation of the BSC methodology can dramatically help organizations establish highly effective performance management systems through the following: (1) Identifying and measuring key objectives of the entire organization, and linking them to departmental and individual objectives; (2) Aligning the daily schedules of individuals with the organization’s vision, mission, objectives and strategy; (3) Guiding and motivating employees, departments, and the entire organization to live by its objectives. Furthermore, the BSC methodology not only drives an organization’s strong growth, but also ensures its sustainable development, as the BSC system has proven success in “balancing” the financial and nonfinancial metrics, long-term and short-term measures, tangible and intangible goals, organizational and societal objectives.

The BSC methodology has been developed into a highly integrated, multi-purpose management methodology/technology. They are used as a powerful tool for strategic planning, strategy execution, performance management, and change management. Through effective methods, the BSC methodology has been adopted by large corporations (more than 80% of Top Fortune 500 companies) as well as small and medium-sized enterprises (SMEs), governments and non-profit organizations throughout the world. 

In Vietnam, the BSC concept has been popularized among the business community and management and strategy consultancy firms through various channels, especially through two classic books “Balanced Scorecard” and “Strategy Map” of which PACE secured the copyright, translated and published in Vietnamese in 2006.

Since then, many Vietnamese businesses have made concerted efforts to learn and implement BSCs. However few have succeeded even though they had hired external management consultants to help them. Why did they fail? Despite the fact that BSC is one of the most popular and effective planning and management tool in the world, particularly in strategy execution, it is not a simple task for a business to deploy it successfully without in-depth knowledge and guidance. Following failed BSC applications, some organizations may have felt frustrated and lost confidence.

In order to facilitate Vietnamese businesses in the successful implementation of the BSC system, BSV has secured the right to introduce the entire suite of the BSI world-class methodologies and solutions to Vietnam. In addition to providing consulting and the development of BSC and KPI to clients, BSV also professionally helps develop internal experts’ competencies and consultants of clients to ensure their successful BSC and KPI implementation by the clients themselves. Some of the flagship training programs offered by BSV include “Certified BSC Professional”, “Certified KPI Professional”, “BSC for Leaders”. The “Certified BSC Professional” and “Certified KPI Professional” are jointly certified by BSI and The George Washington University College of Professional Studies (one of the top universities in the U.S.).

In mentioning “Strategic Management”, we must refer to “BSC”. In terms of “BSC”, we must refer to BSI’s Nine StepsTM Methodology. BSV consulting solutions and training programs are based on this exclusive copyrighted methodology. It should be noted that to protect the copyrights of the Nine StepsTM Methodology (any individual or organization that attempts to provide BSI’s BSC training or consulting services commercially without the express written permission of BSI or BSV will encounter legal actions). BSI’s training programs for clients’ internal experts/consultants and the BSC Implementation Team are tailored to the needs of a diverse range of organizations. BSI and BSV’s consulting team consists of consultants in compliance with BSI global standards for high-quality consulting. Consulting services provided to clients are led by a certified Senior Associate (a Level-5 Consultant).

Under the increasingly high speed and pressure of globalization, it can be said that the 21st  century is the age of worldwide integration for Vietnam. Global integration leads to global competition even within its domestic market. Therefore organizations require global solutions to be globally competitive. The BSC methodology is one of the finest world-class solutions that empower businesses in Vietnam to build their own highly effective global competencies for competing in the world economy.

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