With the aim of establishing the strategic position and the development model of a Port Authority or a Port Community, in front of a changing environment as is the ports’, it’s necessary to elaborate a Strategic Plan, that permits to define the Mission, Vision and Objectives of the organization for the studied period.
The Balanced Scorecard (Norton & Kaplan) is a tool that permits organizations to manage its long-term strategy previously established in the Strategic Plan, by means of:
– Transforming the strategy in operative objectives, indicators and goals.
– Communicating the strategy to the people of the organization
– Prioritizing the projects and assigning ressources
– Following, feeding back and learning.
The application of the strategy in the day to day of the company it’s not easy and it’s normally a common mistake in organizations. The Balanced Scorecard helps to solve this problem.
By means of the Balanced Scorecard it’s possible to concentrate the strategy in a Strategic Map that establishes graphically the objectives stated in a diagram of strategic lines and perspectives.
The establishment of indicators and goals associated to each objective facilitates the measuring and monitoring of its compliance.
In EPC we have a great experience for the application of the BSC to different Port Authorities, because José Luis Estrada had the opportunity to drive and manage this initiative, from his position in Puertos del Estado in the Spanish Port System and moreover it constituted the subject of his PhD Thesis (see publications).