Integrated Methodological Framework For Formulation And Implementation Of Local Developement Strategy
Integrated Methodological Framework For Formulation And Implementation Of Local Developement Strategy

Summary/Abstract: This paper aims to display basic foundations of Balanced Scorecard methodology, which was used for formulation of local development strategy, and results that arose from its application. The paper starts with explaining basic theoretical pillars of regional development, continues with the methodology basics along with specifics of methodology application at the local level. Then, the concrete example is used to test applicative methodological framework in three phases: 1. diagnosis based on SWOT matrix, 2. visualisation of local community goals with strategy maps, and 3. goals specification through key performance indicators, tasks and initiatives. Finally, the authors pinpoint potential problems in strategy implementation process and give basic features of the software which eases the creation of scorecards and strategy maps.

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