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When I did my book launch at the Ritz this week, (Come on allow me to bask in glory for a while) . When I spoke I suggested that the way we manage is designed to absorb friction. Let me explain. The challenge of converting strategy into performance is neatly summed up by one of [...] Treat this as an off the wall, whimsical post – with a serious intent…. One thing that we all see far too much of – Management. One problem with many organisations is that we spend too much time managing, we create too many rules and practices and processes for management, in fact we create entire [...] Back in the dot.com boom around 2000 I was Chief Technology Officer of a start-up that changed direction 180 degrees in 6 months. Within the first six months we had speed: we had our solution up and running to demonstrate a net-market for trading materials between cable manufacturers and their suppliers. (The solution cost around [...] Being a manager rarely gets the credit it deserves. Flicking through Gary Hamel’s blog on Management 2.0 for Wall Street Journal, I came across this excellent quote “Our capacity to improve the state of the world is ultimately bounded by our capacity to manage.” If we want to change the world then our ability to [...] So what planning horizon should I use for my balanced scorecard? 1 year, 2 years, 6, 10 perhaps? First recognise that different tools in the overall Balanced Scorecard approach to strategic management are for different planning horizons. Tangible future for 10 years, strategy map for 2-5 years, and scorecards measures for 12-24 months, whilst targets [...] One of the important distinctions I make in modern fourth generation balanced scorecard design is that they are focused on strategy implementation rather than measuring today’s operational performance. This is an important distinction because it puts a completely different purpose on the work you do and frames how they are used quite differently. Whilst researching [...] So often I come across “balanced scorecards” that have re-named the learning and growth perspective as “people” or “employees”. They think it is more representative. However the original name was given for a reason. There are three good reasons for keeping the name “Learning and growth”. First, names such as “employees” or “people” or “culture” [...] Using Judgement and Evidence in Modern Balanced Scorecards: the use of subjective and qualitative measures. Audience questions and responses I presented a BetterManagement webinar on this subject, on 14th October, and it received a lot of interest. You can listen again to the webcast on the better management site (See link at the end) Here [...] A culture of performance Good performance should develop a culture of performance, rather than one of “Measure mania” and “The tyranny of targets”. This underpins how we implement balanced scorecards that make a difference to an organisation I define a culture of performance as: A visible and explicit pattern of behaviour, actions and values, working [...] Principles of Effective Balanced Scorecard Part 7 “The ability to learn faster than your competitors may be the only sustainable competitive advantage.” Arie de Geus Whilst chatting with a manager of a largish organisation I suggested it was useful to think about organisations and how they learn, in the same way we think about people [...] |
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