Sanjiv Anand

Execution Excellence (eBook, ePUB)

Making Strategy Work Using the Balanced Scorecard

• Format: ePub

Produktbeschreibung

A hands-on guidebook for making your strategy work with effective Balanced Scorecard design, deployment, and maintenance Execution Excellence is the practitioner's guide to real-world implementation. Designed by a Balanced Scorecard (BSC) thought leader with 30 years of experience and over 300 global implementations under his belt across a range of industry sectors, this guide gives you a hands-on framework for putting the BSC methodology into action. Clear, concise, and easy to read, this book skips the theoretical exposition to get right to the point--how can companies use BSC to effectively deploy strategy and drive individual and enterprise performance? You'll find the answers here. The discussion outlines the ways in which firms commonly fail in implementing BSC. These failures can be traced back to common design and implementation flaws: making the process too complicated and focusing on the BSC process rather than the outcome. The discussion will also cover design optimization across a range of key industry sectors. You'll gain expert insight into avoiding these missteps and the practical tools and perspective you need to implement BSC correctly the first time. While the Balanced Scorecard framework is widely accepted and praised, about half of firms that implement it fail to realize the full benefits. The fault lies not with the framework, but with the design, and more importantly--execution. This book gives you the information and tools you need to adopt BSC successfully. * Design a BSC that truly and simply reflects your strategy * Customize the BSC to reflect your industry's uniqueness * Define clear measurements and ownership that suit your strategy * Develop a framework for efficient data collection and reporting * Implement effective reviews to keep your business on track * Use your Balanced Scorecard data to close performance gaps Developed in the early 1990s, the Balanced Scorecard framework has been recognized as one of the most seminal business ideas in the last 75 years. Thousands of companies around the world use BSC to create and maintain a performance-oriented enterprise, yet just as many try and fail. Execution Excellence shows you what you need to know and do to become a BSC success story.

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Produktdetails

• Verlag: Jossey-Bass
• Seitenzahl: 288
• Erscheinungstermin: 4. April 2016
• Englisch
• ISBN-13: 9781119196488
• Artikelnr.: 44872569

Autorenporträt

SANJIV ANAND is the Chairman of Cedar Management Consulting International, a global management consulting firm with over 800 clients and a network of offices worldwide. He is considered a Strategy and Balanced Scorecard thought leader, with more than thirty years of global management consulting experience and 300 Balanced Scorecard designs executed across a wide range of industry sectors. He is a Harvard Business School and NYU Stern Alumnus, and a former YPO Chapter Chair.

Inhaltsangabe

Preface xv

Acknowledgments xvii

I THE REALWORLD OF STRATEGY 1

1 The Global Business Environment in Today's Flat World: News Flows Faster than Water! 3

So Where Do We Go from Here? 5

What Does That Mean? 5

2 The Evolving Role of Strategy: Is Strategy Dead? 7

Blue-Sky Strategy 8

Back-to-Basics Strategy 8

3 Strategy Formulation: Building a Strategy that Works 11

External Assessment 12

Internal Assessment 12

4 Strategy Execution: It's All About the Implementation 17

5 The Business Planning Process: Don't Let the Process Overrun You 19

Ownership 21

II INTRODUCING THE BALANCED SCORECARD 23

6 Introducing the Balanced Scorecard: Circa 1992 and Still Going Strong 25

History 25

Basic BSC Framework 26

Design 29

Implementation 30

Cascades 30

Individual BSC 30

Using the BSC to Formulate Strategy 31

7 Challenges in Implementing the Balanced Scorecard Successfully: Time to Put on a Helmet! 33

General Challenges 33

Design Challenges 35

Implementation Challenges 37

III CHALLENGES IN BALANCED SCORECARD DESIGN 41

8 Designing the Strategy Map: Keep It Lite 43

Introduction 43

Design Methodology 44

Strategy Map Design Components 45

Impact of Industry Customization and Support Functions on Strategy Map Design 49

Strategy Map Design for Nonprofit and Government Organizations 52

The Concept of the Linkage Model 52

Designing a Lite Version of a Strategy Map for Board Reporting: Strategic Themes 54

9 Defining Objectives: The Wordsmith's Challenge 55

The Bad Way 55

The Good Way 56

Customer Objectives 58

10 Picking Owners: Four Executives Don't Run a Company 61

Owning the Formulation 61

Owning the Execution 62

How Does Ownership Really Work in a BSC Meeting? 63

BSC Ownership versus Individual Performance Measures 64

11 The Art of Measurement: Lead, Lag, and How Many Are Enough 67

Introduction 67

Financial and Non-financial Measures 68

Lead and Lag Measures 69

Strategic versus Non-strategic Measures 69

Financial Measures 70

Customer Measures 70

Internal Perspective 72

Learning and Growth Measures 73

Measurement Formulas 74

Data Sources 75

What about Missing Data Sources? 76

How Many Are Enough? 76

12 Units and Frequency of Measurement: Stay Honest 79

Units of Measurement 80

Key Milestone Indicators (KMS) 80

Decimals 81

Frequency of Measurement 81

13 Target Setting: Actionable or Aspirational? 83

Target Intensity 83

How Many Targets to Set of Each Kind? 85

Target-Setting Benchmarks 86

Target Calculation 88

14 Initiative Alignment: Are You Overrun with Projects? 89

15 Designing Cascades: Top Down or Bottom Up 93

Introduction 93

The Next Level Cascade: Functional Organization 95

Multi-divisional Structures and Cascades 96

16 Aligning Individual and Enterprise Performance: Unlocking Human Capital 99

Introduction 99

The Right Way 100

Measures 101

Cascading Weights and Measures 102

Bands 103

IV CHALLENGES IN IMPLEMENTATION 105

17 Selecting the Right Balanced Scorecard Coordinator: Not the Audit Team, Please! 107

Intr