We believe the Balanced Scorecard can help take your organization to the STARRs - okay one R too many, but it's an important addition. Using the Balanced Scorecard system we can help you:
- Strategize - Create and communicate a Strategy that clearly outlines how you plan to win.
- Track - Demonstrate the effectiveness of your strategy execution through a set of balanced and robust performance measures.
- Analyze - Efficiently and effectively discuss results as a team.
- React - Take necessary actions based on your analysis.
- Refresh - Update your plans with periodic course corrections.
We can help you with consulting and training solutions for each one or all the elements of the Balanced Scorecard STARR process, depending on your unique needs. To learn more about our services please click any tip of the STARR or read below.
How many times have you seen characters in a movie or TV show that find themselves in a tough situation, and say something like this: Character A: "What's the plan?" Character B: (looking slightly dumbfounded). "Plan...I thought you had a plan."
That scenario can lead to humorous consequences in movies and TV but it's disastrous in the organizational world where having a well-conceived plan is vital to standing out in a crowded world.
We define strategy as "The broad priorities identified by an organization in recognition of its operating environment and in pursuit of its mission." Those broad priorities include: Who you define as your customer, what products or services you'll provide, and perhaps most importantly, how you'll present yourself to your customers; the all-important declaration of a specific value proposition (your unique combination of price, innovation, and service).
Once you have a strategy in place it must be communicated with your entire team, and often beyond, to ensure everyone understands its elements and can act in accordance with it every day. That vital communication task is accomplished with a Strategy Map - a one-page graphical representation of what you must do well in order to execute the strategy. Many organizations have found Strategy Maps revolutionary in their ability to quickly and easily communicate strategy to all levels of their organization. Learn more about how to Strategize with the Balanced Scorecard.
You've created a strategy and communicated it widely, but how do you know whether or not you're actually executing what you set out to achieve? Performance measures are standards created to help gauge your effectiveness. An effective set of performance measures has the ability to communicate performance, ensure accountability for results, and provide the basis for robust management team discussions. We believe the Balanced Scorecard remains the most successful system for crafting performance measures that lead to real insights into your performance. This proven tool, used by over 60% of the Fortune 1000 as well as thousands of public sector and nonprofit organizations, charts your performance in four distinct, yet related perspectives of performance (Customer, Internal Processes, Employee Learning & Growth, and Financial) thereby demonstrating the total picture of results management teams require. Learn more about how to Track results with the Balanced Scorecard.
Studies of management meetings (yes, there are people who actually study meetings) suggest that upwards of 80% of time is spent on items creating less than 20% of the organization's value. That's an extraordinary waste of many resources, including the single most valuable resource possessed by any organization - management time and attention. These wasted opportunities, featuring agendas brimming with corporate minutiae, leave virtually no time for what really matters - learning from, and reacting to, the results of your strategic performance measures.
It doesn't have to be that way. Based on our extensive hands-on experience designing and facilitating management meetings, we'll help you create a suite of meetings that are right for you. While the duration, audience, and agenda may be unique for each, what they'll have in common is a focus on strategy, an efficient use of participant time, and, best of all, a commitment to achieving results. Learn more about how to Analyze and React with the Balanced Scorecard.
As our world becomes smaller, better connected, and unquestionably more complex, the duration of strategic plans are shortening in virtually every industry. It's not enough today to simply strategize, measure, and analyze results. Today's leading organizations recognize the imperative of constantly refreshing those components of their strategy that either aren't working or aren't consistent with the realities of their competitive landscape. We'll help you develop a Balanced Scorecard system that is robust, but capable of change when change is necessary. Learn more about how to Refresh with the Balanced Scorecard.