Do you have a Strategy of Execution?

Most of my clients have a Balanced Scorecard. But even if it is perfectly completed with solid objectives, it is not worth much if you and I do not execute properly.

Kaplan and Norton conducted surveys in 1996 and again in 2006 about the state of strategy execution – as reported in their book The Execution Premium – Linking Strategy to Operations for Competitive Advantage (2008).

Their most important finding: having a formal strategy execution system made success two to three times more likely than not having a system. Continue reading

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Good to Great and the Balanced Scorecard

A small independent community bank in Iowa, USA, has adopted the “Good to Great” framework developed by Jim Collins. They are struggling to build a Balanced Scorecard (BSC) that accommodates this framework.

“How could the Balanced Scorecard be aligned to Good to Great’s three components of Disciplined People, Disciplined Thought, and Disciplined Action?” Shane Tiernan, who leads strategic planning in this bank, visited my website. He e-mailed the question to me.

Fortunately, this alignment can be done fairly easily. The BSC framework can accommodate any theory. Continue reading