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This post is about the structure of strategy maps and in particular the financial perspective and objectives. Occasionally I meet someone from finance who wants to put the financial perspective at the bottom. Sometimes they want an additional financial perspective; sometimes it replaces the one at the top. Their argument is that it is the [...] This post is about the structure of a strategy map and the importance of using a purpose or mission statement at the top to anchor the strategy you are describing. Before we detail the financial perspective we must position the organisation’s purpose or mission statement at the top of the strategy map. (For the purpose [...] I saw a question on cascading balanced scorecards recently and here was my reply Here are some simple rules that I employed when I worked with Norton & Kaplan and have applied since 1) Cascade objectives rather than measures. While some measures cascade many do not naturally translate across organisational boundaries or down through the [...] Principles of Effective Balanced Scorecards Part 6 “Of course we have a scorecard. I designed it at home the other evening” Very early on in my Balanced Scorecard career I heard a lovely story. Some of my colleagues had been to see a potential client about some scorecard work. It turned out he had one [...] Principles of Effective Balanced Scorecards Part 5 “Strategy is about what we choose to do, and what we choose not to do” Michael Porter You’ll recall, in a previous blog, we talked about a useful test of any scorecard or strategy map is, “Can I tell the strategy from this?” You will have already realised [...] Strategy maps for different purposes I recently spoke at a conference on the balanced scorecard and where Paul Niven was also speaking. When he did an explanation of strategy maps and did an exercise the audience produce three very different types of strategy map. One version was the true cause and effect version where their [...] Alliance and Partnership Balanced Scorecards Lessons from the ASAP European Conference At the end of April I was invited to talk at the ASAP European Conference on the subject of Balanced Scorecards in alliances and partnerships. So I chose the title, “How not to screw up your alliance”. What was wonderful about the conference was [...] Prof Bob Kaplan: Strategy maps and themes as aids to communicating strategy Last night I attended Bob Kaplan’s presentation in London on his latest thinking around scorecard development. His talk was entitled “Communicating strategy and managing the strategy execution process with strategic themes”. In the first part of his talk he explained how companies are [...] KPI Strategy workshop: What is important for your organisation to measure, and How to construct meaningful KPIs This is an advert more than a blog, but at least you will get to hear about it and talk to me directly Are you concerned that your organisation is not measuring the right things to determine Performance [...] Environmental strategy and an environmental scorecard I have just been in conversation on a performance management forum and wanted to vent my spleen a bit. The discussion was, the Balanced Scorecard needs another perspective in addition to financial, customer, process and learning and growth to represent the environment. I argued that you could put [...] |
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