Most organizations struggle with Strategy execution. In fact, numerous studies from top consulting firms (including McKinsey, Bain, BCG) and Harvard Business Review have shown approximately 70% of strategies fail due to poor execution. Furthermore, organizations only realize about 60% of their strategies’ value. Having a Strategic Management Office–i.e. SMO–may improve your chances of success. The […]
Tag Archives | strategic management
The 4 Models of Management
In a study conducted by global management consulting firm Strategy& (formerly Booz & Company) of 100s of organizations of varying sizes and types, they synthesized a spectrum of 4 different corporate management models. These 4 management models are defined by the way senior management and the “Corporate Core” engage with the rest of the organization. […]
How Do We Answer the Fundamental Question of Strategy: Are We Doing the Right Things?
At its essence, management just seeks to answer 2 fundamental questions: Are we doing things right? Are we doing the right things? The first question is addressed through Operational Management. Operational Management frameworks include Total Quality Management (TQM), Six Sigma, Business Process Re-engineering (BPR), among numerous other Lean Six Sigma tools. The second is addressed […]
What Is a Strategy Map?
If you’re familiar with the strategic management framework Balanced Scorecard, you may have also come across the concept of a Strategy Map. After all, a Strategy Map is a core element of the formulation of a Balanced Scorecard. Both frameworks were developed by Robert Kaplan and David Norton. Wikipedia defines a Strategy Map as: A […]
Putting the Balanced Scorecard to Work: 11 Great Tips
Putting the Balanced Scorecard to work can be quite a challenge. Yes, the Balanced Scorecard has been around for a long time. Yes, there are many Balanced Scorecard example out there. But that doesn’t change the fact that most organizations struggle to put the Balanced Scorecard to work and get all the promised benefits. This […]
What Are Balanced Scorecards?
Balanced Scorecards tell you the knowledge, skills and systems that your employees will need (learning and growth) to innovate and build the right strategic capabilities and efficiencies (internal processes) that deliver specific value to the market (customer) which will eventually lead to higher shareholder value (financial). –– Robert Kaplan & David Norton In 1990, Art […]
Capital Budgeting, Pricing Strategy, Mintzberg’s 10 Schools of Thought, and more
New & Recommended Documents (Week of 6/3) 1. Capital Investment Analysis View more from ganesh10 Capital Investment Analysis Also called Capital Budgeting – a complex topic simplified in an easy to understand presentation which is completely self-explanatory. Explains the framework for financial analysis with examples and provides practical [Read More] 2. Ten Schools of Thought on Strategic […]
Perform Strategic Management Right with a Balanced Scorecard
It’s (relatively) easy to come up with a corporate vision, with a mission statement, with a set of strategies. But, when it comes to the execution of that vision and strategy, things become much more challenging. This difficulty increases as the size of the organization increases. For proper strategic performance management, a number of methodologies […]
Hoshin Kanri
Hoshin Kanri (Hoshin Planning, Policy Deployment, Management by Policy) is a powerful, systematic Strategic Planning/Management methodology developed by Dr. Yoji Akao that uses a Plan-Do-Check-Act cycle to create goals, choose control measures and link daily control activities to the company’s strategy. It involves a “catchball” as the driving force of alignment, clarification and employee involvement. […]
