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Execution excellence : making strategy work using the balanced scorecard /

By: Anand, Sanjiv
Material type: BookPublisher: Hoboken : Wiley, c2016.Description: xvii, 270 p. : ill. ; 25 cm.ISBN: 978111919464Subject(s): Balanced scorecard (Management) | Strategic planningDDC classification: 658.4012 AN EX
Summary:
"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"-- "Successfully Implementing the Balanced Scorecard is an experience-based, practical, easy-to-read guide on how to get the balanced scorecard right the first time"--
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Includes index.

Machine generated contents note: 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
Ownership
II.Introducing the Balanced Scorecard
6.Introducing the Balanced Scorecard: Circa 1992 and Still Going Strong
History
Basic BSC Framework
Design
Implementation
Cascades
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
Contents note continued: III.Challenges in Balanced Scorecard Design
8.Designing the Strategy Map: Keep It Lite
Introduction
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
Contents note continued: 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)
Decimals
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
Measures
Cascading Weights and Measures
Bands
IV.Challenges in Implementation
Contents note continued: 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!
Timelines
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?
Conclusion
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
Contents note continued: Complaining
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
Contents note continued: 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
V.Conclusion
26.Conclusion
Make Your Strategy Positive
Execution Is about Focus
Focus and Measurement
Stay on Track
Youth Matters
Gray Hair Matters.

"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"--
"Successfully Implementing the Balanced Scorecard is an experience-based, practical, easy-to-read guide on how to get the balanced scorecard right the first time"--

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