Execution Excellence: Making Strategy Work Using the Balanced Scorecard
Exclusively distributed by Pan Macmillan
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. T
I The Real-world of Strategy
1 The Global Business Environment in Today's Flat World: News Flows Faster than Water!
- So Where Do We Go from Here?
- What Does That Mean?
2 The Evolving Role of Strategy: Is Strategy Dead?
- Blue-Sky Strategy
- Back-to-Basics Strategy
3 Strategy Formulation: Building a Strategy that Works
- External Assessment
- Internal Assessment
4 Strategy Execution: It's All About the Implementation
5 The Business Planning Process: Don't Let the Process Overrun You
II Introducing The Balanced Scorecard
6 Introducing the Balanced Scorecard: Circa 1992 and Still Going Strong
- Basic BSC Framework
- Individual BSC
- Using the BSC to Formulate Strategy
7 Challenges in Implementing the Balanced Scorecard Successfully: Time to Put on a Helmet!
- General Challenges
- Design Challenges
- Implementation Challenges
III Challenges In Balanced Scorecard Design
8 Designing the Strategy Map: Keep It Lite
- Design Methodology
- Strategy Map Design Components
- Impact of Industry Customization and Support Functions on Strategy Map Design
- Strategy Map Design for Nonprofit and Government Organizations
- The Concept of the Linkage Model
- Designing a Lite Version of a Strategy Map for Board Reporting: Strategic Themes
9 Defining Objectives: The Wordsmith's Challenge
- The Bad Way
- The Good Way
- Customer Objectives
10 Picking Owners: Four Executives Don't Run a Company
- Owning the Formulation
- Owning the Execution
- How Does Ownership Really Work in a BSC Meeting?
- BSC Ownership versus Individual Performance Measures
11 The Art of Measurement: Lead, Lag and How Many Are Enough
- Financial and Non-financial Measures
- Lead and Lag Measures
- Strategic versus Non-strategic Measures
- Financial Measures
- Customer Measures
- Internal Perspective
- Learning and Growth Measures
- Measurement Formulas
- Data Sources
- What about Missing Data Sources?
- How Many Are Enough?
12 Units and Frequency of Measurement: Stay Honest
- Units of Measurement
- Key Milestone Indicators (KMS)
- Frequency of Measurement
13 Target Setting: Actionable or Aspirational?
- Target Intensity
- How Many Targets to Set of Each Kind?
- Target-Setting Benchmarks
- Target Calculation
14 Initiative Alignment: Are You Overrun with Projects?
15 Designing Cascades: Top Down or Bottom Up
- The Next Level Cascade: Functional Organization
- Multi-divisional Structures and Cascades
16 Aligning Individual and Enterprise Performance: Unlocking Human Capital
- The Right Way
- Cascading Weights and Measures
IV Challenges In Implementation
17 Selecting the Right Balanced Scorecard Coordinator: Not the Audit Team, Please!
- The BSC Coordinator
- Cascade Coordinators
18 Get Ready for the First Reporting: Sixty Days to Lift-Off!
- The Accuracy of a Measure
- You Missed the Start of the Year
19 How Should the First Meeting Run? And How Frequently?
- Deck Pre-distribution
- BSC Coordinator's Role
- The Discussion
- The Discussion on Initiatives
- Meeting Closure
- What about the Cascade Scorecard Meetings?
20 What About Scorecard Automation? Mobile and Dynamic Scorecards
- The Excuse to Automate
- When to Automate?
- Components of BSC Automation
- The Automation Process: The Data Challenge
- Benefits of BSC Automation
21 What Happens After a Meeting? Making Sure the Traction Lasts the Whole Month
- Circulation of Post-meeting Deck
- Follow-up Action
- Ensure Cascade Alignment
- Initiative Action
- An Unfortunate Case Study: Blowing Up a $5 Billion Company
22 The Communication Challenge: It's Like Keys to the Executive Washroom
- An Unfortunate Case Study: Paper on the Walls
- Start at the Design Stage
- At the Reporting Stage
- Board Reporting
- Using It to Build a Training Agenda
23 What Happens If Performance Does Not Improve? Patience and Speed Go Together
- It's Not a Formula 1 Car
- What If There is No Cause and Effect?
- Too Many Reds
- The CEO Is Not Pushing the Agenda
- The Ownership of the Strategy is Wrongly Placed
24 Running a Best-in-Class Project Management Office: You Can't Do It without a Command Center
- Everything Is a Project
- The Evolving Landscape of Project and Program Management
- The Program Manager's Role
- An Effective PMO
- PMO Knowledge Areas
- PMO Process Groups
- PMO Maturity Levels
- PMO Types and Approaches
- Critical Success Factors to Set Up an Effective PMO
- Linking the PMO to Strategy through the Balanced Scorecard
25 Oops. The Strategy Has Changed: What Happens Now?
- Midyear Strategy Change
- Annual Strategy Review
- Make Your Strategy Positive
- Execution Is about Focus
- Focus and Measurement
- Stay on Track
- Youth Matters
- Gray Hair Matters
Appendix A: Industry and Function Specific Strategy Maps and Scorecards
Appendix B: Bank Case Study
Appendix C: Textile Company Case Study
Appendix D: Travel and Tourism Case Study
Appendix E: Illustrative Financial Measures by Industry
About the Author
Book Reviewed in Business World