Keywords: Retail Strategy and Balanced Scorecard, Strategic balanced scorecard, Strategy maps, Corporate Balanced Scorecard, Themes and strategy, project alignment, organisational alignment and cost savings
Application: Retail Balanced Scorecard, Executive team, Corporate objectives, Corporate strategy map. Managing growth and cost savings
In this video case study, Phil Jones, of Excitant Ltd describes some of the work with the Executive team of a major retailer which helped them to clarify their strategy and make substantial cost savings.
In response to the actions of competitors and to address the problem, “They don’t get the strategy” the Chief Executive decided they wanted a corporate Balanced Scorecard that would eventually cascade down to all their retail outlets.
Want to save your organisation money through better alignment. Watching this video you will learn about how to design a corporate strategy map and also how to align projects so that you can identify which are strategic and which not. In this case the review of £100m of projects identified £40m that were not strategic and therefore were candidates for being cut. This provided an excellent cost saving opportunity for the retailer at a time when they needed cost savings.
This case study describes the corporate strategy map from which the cascade was later developed.