According to Alexander Nemtinov, senior manager of the Severstal’s strategic planning department, Severstal is the first Russian steel mill to have achieved some results in incorporating the Balanced Score Card. Meanwhile, it has been gaining recognition worldwide. For example, it was used by Mobile to reach its strategic goals. In Russia, this idea was explored by Norilsk Nickel and Lukoil.

The main task of the program is to make the company’s strategy understandable to every employee, further to motivate personnel to achieve it creatively.

Anatoly Kruchinin, Severstal’s general director, has approved the next step of incorporating the Balanced Score Card at Severstal. Presently, the company is in the process of building a system of objectives, controlling and tying up the project-processes approach with the BSC

31 March 2003