The Graphic Communications Group Limited (GCGL), Ghana’s leading print media organization, recently adopted the Balanced Scorecard (BSC) to monitor quantitative and qualitative targets set by itself and its staff.  The BSC is a strategic planning tool used by corporations globally to develop and communicate their strategic plans and track progress of those plans.  The article cited below reports that the BSC is used by 65 percent of Fortune 500 companies. Other companies using the BSC in Ghana are the Social Security and National Insurance Thrust (SSNIT), the Volta River Authority (VRA), Electricity Company of Ghana (ECG) and the Ghana Revenue Authority (GRA).  The Managing Director of GCGL, Mr. Kenneth Ashigbey, says “the BSC system is a roadmap that will help his company connect its strategy to its vision. GCGL’s vision is “to become the dominant multimedia group in West Africa, telling the African story.”  Along with adopting the BSC system, GCGL’s ’s mission was rewritten “to empower our audience and customers everywhere with authentic information and excellent products through visionary leadership and strong brands.”  Mr. Ashigbey says with the introduction of the BSC, the ultimate objective of GCGL is “to be a leading and top-of-the-mind multimedia company in English-speaking West Africa by 2017.”  He also says about the BSC:  “We will maintain our leadership position in print media and become one of the top three multimedia organizations in terms of circulation, audience reach, advert spend and sales revenue.”  He also said the BSC is “a tool for employees to understand how their respective day-to-day work contributes to the company’s success.”  As part of the BSC, GCGL set for itself eight core values, which include leadership in all that it does, exhibition of high level of professionalism and integrity, commitment to excellence, customer focus and working as a team.  Also as part of the BSC, GCGL set four strategic themes: business growth, operational excellence, service excellence, and innovation.

Source:  http://graphic.com.gh/archive/Business-News/graphic-adopts-balanced-scorecard.html