First Commonwealth Financial Corp., a financial institution in central and southwestern Pennsylvania, implemented the Balanced Scorecard for the description and implementation of its new customer-focused strategy. Its founder and chairman decided that the Balanced Scorecard should also become the primary information input for the corporate governance process with the board of directors so that the board could be more knowledgeable about and more actively involved in the company’s strategy. Describes h … Read more »

First Commonwealth Financial Corp., a financial institution in central and southwestern Pennsylvania, implemented the Balanced Scorecard for the description and implementation of its new customer-focused strategy. Its founder and chairman decided that the Balanced Scorecard should also become the primary information input for the corporate governance process with the board of directors so that the board could be more knowledgeable about and more actively involved in the company’s strategy. Describes how the Board informed about the company Balanced Scorecard and how it contributed to the development of a balanced scorecard become for themselves. In addition to the company board, and scorecards, the company for all managers for the governance and compensation committees to evaluate and scorecards developed performance management and reward. Extensive exhibits illustrate the three different scorecards and reports and evidence on these scorecards.
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from
Robert S. Kaplan
Source: Harvard Business School
30 pages.
Release Date: 4 November 2003. Prod #: 104042-PDF-ENG
First Commonwealth Financial Corp. HBR case solution