Strategic Planning Model Formulation Based on Balanced Score Card: A Case Study

At the present age, strategic planning is considered as an important and vital matter for organizations and formulating and implementing strategic plans and accurate parameters may result in organizations long-term superiority in competitive field. But, regarding that competitive factors of all organizations are not the same, formulating the strategy with a similar trend is unlikely to be effective and the prerequisite for success of any organization is to focus and pay attention to its own capacities and unique competitive advantages and to formulate strategies based on those capacities along with focusing on the weakness and threats points. This article presents a model integrated of the strategic planning process and balanced score card and considering four dimensions of the Balanced Score Card (BSC), it accomplishes the process of strategic planning in the fields of financial, customer, internal processes and growth and learning separately and then determines the position of an organization in each dimension. Therefore, the strength and weakness points of the organization are identified and the type of strategies needed for any dimension determined separately. With the aid of this model, top managers are able to determine the organization expects and goals of different sectors clearly and in line with the vision and strategy of organization and deliver to the managers and authorities of different sectors. The results of this model are the analysis of factors influencing on the strategy formulation, extraction of key dimensions, provision of the SWOT matrix for four-folds dimensions of BSC and the identification of organization situation in each dimension such that through basing it on, integrated strategies and operational plans will be formulated for the organization. In this survey, Isfahan Company of tile industry has been studied as a sample and the results of the model implementation for this company described in the text.