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"Everybody talks about the weather, but no one does anything about it." – Mark Twain |
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Balanced Scorecard Framework |
For each of the above four questions, provide answers in terms of:
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Balance – Leadership – Innovation – Synergy – Speed |
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Why Balance?
Balance is about how you live your life and manage your business and people.
Finding the right balance in your your life and your business will help you refine your goals and hasten you towards them.
What is Business Systems Approach?
A business is more than finance. Performance measures need to be aligned with the organization's strategy.
The Business Systems approach considers business as system of interrelated factors of strategy, owners, investors, management, workers, finance, processes, products, suppliers, customers, and competitors.
Organizations prosper by achieving strategy that is implemented as a result of continuous decision-making at all levels of the business. Firms implement strategy through balancing the four major factors or perspectives:
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Financial perspective
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Customer perspective
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Internal business process perspective, and
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Learning, innovation, and growth perspective.
The four perspectives permit a balance between short-term and long-term objectives, between outcomes desired and the performance drivers of those outcomes, and between hard objective measures and soft subjective measures.
Balanced Organization: 5 Basic Elements
Leadership (Fire):
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Corporate vision inspires and energizes all employees...More
The Growing Role of the Business Architect
In today's knowledge- and innovation-driven complex economy, business architects are in growing demand. They are cross-functionally excellent people who can tie several silos of business development expertise together, create synergies, design winning business model and a balanced business system and then lead people who will put their plans into action... More
Achieving Strategy through Balancing Competing Values
The primary goal of any business is to increase stakeholder value. It is achieved through a dynamic
balancing of
competing values. In order for a business to maximize economic value,
it
must balance customer satisfaction and competitive market forces with
internal cost and growth consideration.
Systemic Approach to Innovation
Until recently innovation has been seen principally as the
means to turn research results into commercially successful products, but
not all research leads to innovation and not all innovation is
research-based. Innovation
is systemic. It arises from complex interactions between many
individuals, organizations and their operating environment.
Firms which are
successful in realizing the full returns from their technologies and
innovations are able to match their technological developments with
complementary expertise in other areas of their business, such as
manufacturing, distribution, human resources,
marketing, and
customer service...
More
Balanced Scorecard
The Balanced Scorecard is a framework for designing a set of measures for activities chosen by you as being the key drivers of your business.
By having four distinct perspectives (financial, customer, internal process and innovation and learning) it promotes a more holistic view of the business.
Customer Perspective
Customer is defined as anyone who receives that
which is produced by the individual or organization that has value.
A
customer focus - as opposed to "customer driven" or "market driven", - both
internal and external, implies that you don't just respond to what customers
say they need and want, but you apply your own body of knowledge acquired
from years of experience and study, in addition to your best knowledge of
the customer, to deliver a product or service that will exceed customer
expectations, achieve delighted customers and lead to customer success.1
Results-based Leadership
Results-based leadership has relentless emphasis on results in the four areas:
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Employee results
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Organization results (learning, innovation)
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Customer results (delight target customers)
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Investor results (cash flow)...More
The Power of Balance...
Systems Thinking...
Your Cross-functional Excellence...
Inclusive Company...
Balancing Dynamic Organizational Dichotomies...
Systemic Innovation...
Corporate Innovation System...
Delivering Balanced Results through Coaching...
Practical Guidelines for Conducting Knowledge Management in SMEs...
Links Between Individual Learning, Collective Learning and Ethics...
Systemic Innovation...
Continuous Innovation Strategy...
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References:
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