Executing Strategy with the Balanced Scorecard

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  1

  Joag

  08/14/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  I consider adapting business to Balanced Scorecard itself is a strategy and the four quadrants for defining objectives is a sure way to paln and align organization using appropriate business system

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  rammohanpotturi

  08/14/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Quite often a programme gets flat before it takes off, not because the contents of the programme are bad, or the people alloted with that programme are not competent, it is merely because the stratagies are not clearly formatted, too much of hype is created rather than planning and over enthusiasm of the team with a confused leader looking for immediate results rather than a systematic and scientifi approach. This we can see in most of our governemnt sponsored programmes wherein huge budget just goes down the drain. Professional managers are today available in every core area - finance, material, marketing, human resource. Proper adaption of these people with clear policies on work, package, authority and accountability would definitely yeild better results for the samebudget.
  rammohanpotturi@rediffmail.com
  Management Consultant
  A.P. INDIA

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  monger@...

  08/14/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Like most strategy books - even those that identify implementation as being of extreme importance - this one looks somewhat short on implementation detail. Success is determined at least equally by tactical efforts in the trenches not only by the planners on the hill. Books like this tend to be written by folks with limited implementation concepts and actual implementation experience.

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  mzuza

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Sounds good if you have a bunch of sheep working for you. How do the strategists take the operational units on the journey of strategic alignment? Too much fluff here for me.

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  mbuso

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Rather than creating an office of strategy management, you can put in place a Task Team at Senior Management level to drive implementation of strategy with monthly meetings to review achievements against targets.

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  profmurph

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Does the Office of Strategy Management serve the same function as the Soviet style "central planning"? In other words, a KBG within the corporation.

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  Scott Druhot

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Action plans are as simple as 'action potential'. It's one thing to have a set plan, but it's just a plan if you don't have action furthermore the action needs guidance. Guidance can be defined as rules, regulations, standards, etc.; however having a dashboard with a scorecard provides true definition of direction.
  
  It is paramount that when you execute any srategy (large or small), there needs to be some sort of measurement (besides the gut feeling approach).
  
  Before I received my Six Sigma Black Belt, I could create many different forms of business strategies, from sales development, manufacturing processes, to new business designs. Now that I've gained a deeper understanding of not only experience but education, I can combine executing strategy with successful results - through measurement dashboarding. Once data has been placed into the dashboard, you can then guide strategically to create a balanced scorecard. Which can equate to successful direction.
  
  Scott Druhot

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  j01150126

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Our organization crafts strategy well. As in most companies the execution fails. In my position I am cognizant to all operations from the executive to the operator on the floor, from marketing to janitorial. I have to say the execution fails because the infrastructure that supports strategy execution is not there. For example we cut cost by laying off overhead positions such as web programmers. Great we executed on one strategy, cost reduction, but the other strategies that require internal and external communication such as increase customer satisfaction suffer because the resources are now backlogged to support the new strategies. I think it is key the when you determine your strategy that they do not conflict during execution and you cannot skimp on the infrastructure (often seen as overhead) needed to execute the strategy.

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  Morpheus II

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Execution takes patience. While most senior leaders know this, they instinctively cave to Board members and analysts who want immediate results. This is why we hear about the same companies repeatedly, who are the model examples for execution.

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  kmilessmg

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Rather than create a new office with additional staff to create additional programs and run additional meetings - translate the strategy into the daily, weekly, monthly interactions between people and groups which represent strategy support for each role. Hold individuals accountable for performing in line with the strategic activity model. Now the strategy is executed every day, individuals can see clearly how they can contribute and feel good about their contribution when they perform in line with the model. They also appreciate the extra effort to bring strategy down to the realities of their roles which causes respect for management to improve. We've found the results of this approach to be outstanding and employees don't see any extra work - they just see clearly what strategy support looks like where they live every day.

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  maramag

  08/15/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  As an HR practioner,I tried to use "balanced score card" to make leadership development an area of specific emphasis, beginning with a plan that will unify and focus efforts throughout the organization. However, there are factors that successfully implement this: top management's commitment/ strong will; partnership between management and employees; simplicity in objectives; middle management's support; experience in improvement; competition within a company; periodic review; systematic approach; evaluation; and consultants when employed.

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  ema@...

  08/16/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Quite agree with Maramag. From experience my opinion about Management attitude to strategy is that it treats this vital and sensitive area as ideal concept. Only when there is a systemic failure would strategy implementation bell ring at the top. Even at that, it focuses more as an approach at 'scapegoating' than as a tool for superior performance. Maramag's listed factors, with emphasis on top management commitment, are key to success in strategy implementation. I will add: recognition of individual employees' efforts at aligning tasks to company strategy (not just award to departmental heads and teams that deliver) would ginger/kickstart personal commitment to company strategy implementation.

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  Quench

  08/17/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  All too often activity is confused with action. If the team and actions to be taken are truly aligned with the goals / strategy, then execution is merely holding the team accountable to performing the required actions.
  
  Day to day activities interfering with execution of the "real" strategy suggests that the real problem remains to be identified.
  
  Having a separate Strategy Office will only create more bureaucracy. A new team of people to prod and poke others into completing the tasks that they didn't have time do in the first place.
  
  A culture that thrives on execution and is performance driven can only be achieved by having the right players on the team.

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  rkaye05

  08/17/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Thank you Sean for a nice structural x-ray of this latest offering on executing strategy saving my time. The book strikes me as another regurgitation of the basic management tenets, Plan-Organize-Staff-Direct-Motivate-Control slightly reformatted.
  I am basically a fan of Tom Peters' writings when looking for tactical options to support strategic goals. A kind of quasi check list approach. But one can go back even further in management writing to the classic book "Managing For Results" (1964) by the late great Peter Drucker to find tactical suggestions. i.e. "The pertinent question is not how to do things right, but how to find the right things to do"; the 80/20 rule; and the necessity for 'activity based costing' in order to truly understand what are the drivers in your business. Readers this book will gain insight into the management tennant of Direction (of tactical work).
  Ron Kaye, Chicago

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  seansilverthorne@...

  08/18/08 | Report as spam

  RE: Regurgitation

  Kudos to Ron Kaye for pointing us to one of the great books in the management canon, Peter Drucker's "Managing for Results.
  
  However, I would argue with Ron's description of the new Balanced Score Card book: " The book strikes me as another regurgitation of the basic management tenets, Plan-Organize-Staff-Direct-Motivate-Control slightly reformatted."
  
  What you describe is a very serial process: plan, organize, staff, etc. What I really like about the BSC books is how the different elements of putting together an organization and strategy are not serial (first this, then that) but rather cross-referenced and integrated throughout the process. That's the "balanced" in balanced score card.

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  TGreenconsulting

  08/20/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  A discussion around strategic implementation often misses a key element; the role of the individuals charged with the action of implementation. Planning and implementation are interdependent. Meaning, the processes used to develop and plan the strategy are key indicators to the success of the implementation. Strategies fall flat because there is no energy or commitment from the employees charged with "day-to-day operations". Highly effective strategies being with engaging the whole system and asking insightful questions that provide robust dialogue. The outcome from the dialogue is data used to inform the development of strategy. Note, this may need to be an iterative process. Taking time to engage the organization in the development also begins the alignment process. Yes, this may take more time and even resources up front, but the investment pays off during implementation. Conversely, a strategic plan gathering dust in the corner provides zero ROI.
  TGreen

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  Shahid Haq

  08/25/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Designing and talking about strategy has always had a hype to it. The implementation has not. Therefore consultants or consulting companies are paid the way they are compared to the ones implementing the strategy. To be successful the designers of the strategy need to be involved all through the implemention phase to ensure it works. It should be more like rowing the boat then handing the baton so that there is no passing the buck

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  alake

  09/03/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  All of this sounds great but unless you get by-in from the top to bottom of the orgainzation strategic plans turn out to be mere wishes without implementation. Furthermore implementation often does not happen because as was said before the Board pressure executives with instant gratification knowing full well that real change takes time. So unless the Board of Directors changes their mind set and the culture of wanting instant success than organization's will continue to keep the status quo. Unless real change occurs you might as well as: What foot do you wnat cut off-your left or your right?

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  alake

  09/03/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  All this sounds great. What get's me with all these great books written that implementation often times does not occur because organization's are unwilling to give the time needed to achieve the changes because executives are pressured by the Board to take actions that breeds instant gratification. Unless you get by-in from the Board and make them understand that an implementation strategy will take time-then the same things will keep happening. You will keep getting the same clandestine actions that cut jobs that bring less customer satification. Organization's are like people in that when you are trying to change a bad habit you have to replace it with something else-but the most important thing to remember is that change takes time.

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  santo3

  09/10/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  Strategy is critical to a business' success; all business processes of an organization must be aligned with corporate strategy. Shifts in strategy entail shifts in business processes; the shift must be across the organization. Individual departments cannot operate based on agenda not consistent with corporate strategy.

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  NCWATKIS

  09/12/08 | Report as spam

  RE: Executing Strategy with the Balanced Scorecard

  It all sounds good in theory, but how does the principle of lean managment square with building an Office of Strategic Management? What would be their contribution to the company profits? What would they do all day to justify their existance?
  I am sure that the book is very good, expecially for the authors, but whether it is of practical use or another fad managementment book remains to be seen.
  N.C. Watkis, Management Consultant