The balanced scorecard is a holistic system of key indicators, one that goes far beyond purely economic and quantitative key data. It takes account of all the processes involved when taking part in a trade fair or an event, and integrates aspects relating to the behaviour, knowledge, development and attitude of all process participants. Besides financial ratios, it also considers other indispensable aspects: the perspective of the customer, the internal process perspective as well as the perspective of the employee.
By implementing a FairControl balanced scorecard, we help you to translate corporate strategies into your daily trade fair and event business. Together with you, we define what strategic success in your environment means in the first place. We advise you on which key performance indicators (KPIs) are suitable for you, help you to select appropriate data sources and perform all the necessary data surveys and analyses on your behalf.
Holistic, from all perspectives
The FairControl balanced scorecard aims to make trade fairs and events measurable and controllable from all sides. That is why we not only look at the impact on the market, but also focus on processes, employees and finances. Only by doing so can input and output factors be holistically identified.
Concrete and individual
As part of the implementation of the FairControl balanced scorecard, we define objectives and plot cause-and-effect relationships on a strategy map, which helps with the goal-oriented selection and planning of strategic activities. You can see at a glance the processes that have to be initiated, the requirements that have be met by the staff, and the results you will hereby achieve on the market and from a financial perspective.
Simple, comprehensible and concise
In cooperation with you, we define measurable indicators for hard and soft targets and work out their operationalisation for you. We enable you to express your goals with just one measured value, but at the same time to analyse the extent to which individual hard and soft strategic objectives have been achieved. The balanced scorecard also provides insights into as yet still slumbering potentials. And all this is represented simply in a short, concise KPI dashboard, which is sure to be of interest to the top management, too.
Comparable and usable over the long-term
The results of various trade fair participations or individual events can be compared using the balanced scorecard. Your Balanced Scorecard does not have to be re-developed for each event but can be re-used over the long term. Once implemented, it becomes a standard way of measuring success, serving as an internal communication tool, performance measuring system and as an instrument for strategic control.
What does the balanced scorecard do for you?
Translation of vague strategic statements into concrete, measurable and easily comprehensible target formulations and measures
Improved strategy communication: only once it is known which focal points are to be set can appropriate action be taken
Improvement of the common understanding of the strategy: strategic coordination can only be successful if there is a common understanding of the situation and the solutions
Increased consistency between strategic and operational planning
3 in 1: functions of the balanced scorecard
We measure your communication success holistically by using the strategic key figure system of the balanced scorecard, which also takes into consideration non-financial success factors, thus enabling you to assess your success also under qualitative and strategic aspects. This makes success predictable, verifiable and controllable – from every perspective.