Blog Posts

Post Category: ‘Strategy: Strategic thinking, Planning & implementation’

New models of customer interaction & engagement

We are seeing new business models emerge:  Can our approach to managing strategy and performance accommodate them? The traditional models of customer intimacy, differentiation, and markets being “talked at” by companies, are being replaced.  (See Grant Leboff, Sticky marketing)  Social media and other internet technology means that the conversations amongst customers have much wider credibility.   The market has become a …

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What planning horizon for my Balanced Scorecard and my strategy

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 and actions are only 6- …

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Should you use a Balanced Scorecard for Strategic Planning?

You might be wondering whether you should use a Balanced Scorecard for strategic planning process.  Here is my response to that very question.  Don’t use “a balanced scorecard”: use “The Balanced Scorecard Approach”. The Balanced Scorecard approach is an effective, systematic approach to capturing strategy  (Strategy maps), Planning (the alignment between strategy maps and scorecards) and for communicating and managing …

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Changing the incentive and reward system using the Balanced Scorecard approach

In this video, (the third of three) Steve Lunn talks to Phil Jones about how he changed the incentive and reward system at Anglian Water using the Strategic Balanced Scorecard Approachas a central part of their Transformation project. A significant part of the transformation programme carried out at Anglian Water, was changing the incentive and reward structure.  Of course, changing …

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Implementing strategy, getting engagement, using the Balanced Scorecard Approach

Ever wanted to ensure you engaged people and managed to change attitudes and  performance, as you rolled out your strategic balanced scorecard? In this video, Steve Lunn talks to Phil Jones about their work together at Anglian Water (AW) as AW rolled out a strategy to support their de-regulation and moving from a public sector culture to one that was …

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Balanced Scorecards and Lean (1): The Policy Deployment Matrix

A client in the public sector are undertaking a large lean initiative to reduce costs and improve services.  When I started talking to them about fourth generation balanced scorecards, they asked how it related to their “Strategy deployment matrix”.  I must admit I had not heard of these Strategy Deployment Matrix before, though the title seemed self-explanatory.  So, I did …

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The difference between Mission, Vision and Purpose

So often the words, Mission and Vision, are confused and used without clarity. The jargon gets in the way. How can we clearly distinguish between them?

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Emergent strategy is not lazy strategy

An interesting discussion about emergent strategy came out of a presentation I did last night, for a group of Directors, about thinking strategically in the current economic climate. Early on I made a clear distinction between deliberate strategy and emergent strategy.  Deliberate strategy is where you have a goal and your plans are focused around driving towards that goal.  The …

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Strategy in uncertainty: what tools are useful?

At an Institute of Director’s economic briefing in November, the Chief Economist of the IOD said that we are still facing uncertainty, its just that the uncertainties are changing. I think the uncertainty continues to change, especially with impending elections and economic fog. Therefore I find two tools most useful in this time of uncertainty (and changing uncertainty): 1) Value …

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Integrating rolling and continuous budgeting with your Strategy

The challenge… Increasingly businesses are waking up to the fact that traditional, annual budgeting can constrain, as much as it controls and plans. No-one is saying, “Ignore the money”. However, it is a tool designed for centralised planning over relatively long and stable periods. The forecast we made before month 1 even started, becomes our fixed target for the next …

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