According to Fortune 500 Magazine, it’s less than 10%.
In his article, The Balanced Scorecard: From Strategic Plan to Effective Execution, in Charity Village, John Paul de Silva, promotes the use of the balanced scorecard method, which as its name suggests, balances the strategic plan map among four areas of operations: “earning and growth, internal processes, customer (or in the case of nonprofits, funding source), and financial.”
de Silva quotes, Clinton Free of the Queen’s School of Business, who states that “quantifying a strategic plan into measurable terms results in the development of success markers that can be tracked. By reviewing these trackers, an organization can more quickly and conveniently determine whether or not a strategic plan is working.”
He lists four advantages for non-profits using this method:
- Saves costs and resources
- Builds capabilities in the short-term for future growth
- Quickly and clearly communicates strategic plan to multiple stakeholders
- Aids in performance management