Developing the Strategy: Vision, Value Gaps, and Analysis
In this first of two articles on strategy development, adapted from Kaplan and Norton's forthcoming book, The Execution Premium, the authors explore how companies can formulate new strategies for sustainable advantage. Using a strategy development process model and company examples, this article outlines the key steps that establish a foundation for formulating strategy--from defining mission, vision, and values to strategic analysis.
Managing Projects in Turbulent Times
Strategic initiatives are major drivers of organizational progress and are designed to transform enterprise processes or knowledge assets. Unfortunately, many initiatives suffer from poor project management-they are launched without clear business cases, paid too little attention from senior leaders, and managed without strong project governance. The costs of these and other mistakes are significant. In this article-an excerpt from their new book Managing Performance in Turbulent Times: Insight and Analytics-performance management experts Ed Barrows and Andy Neely describe four practices organizations can implement right away to improve their project management and, in so doing, improve their overall strategy execution.
Without a doubt, the strategy map has become the dominant tool organizations use to articulate and monitor their strategy. But the strategy map offers another significant benefit: representing the strategy of your competitors-that is, the basis on which your closest rivals differentiate themselves and compete. By clarifying and comparing your competitors' strategies-and being equipped with such information up front, while you are developing (or overhauling) your strategy-you can ensure yours has a sharper competitive edge.
Walk the Talk: Effective Leadership Behavior for BSC Review Meetings
It takes more than an effective management tool and a well-honed execution plan to achieve strategic success. To move your organization from the comfort of the status quo to the discomfort of an uncertain future takes strong leadership--and the right behavior. And it all starts with the Balanced Scorecard review meeting.