Balanced Scorecard Master Class pdf
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The document outlines the agenda for a master class on the Balanced Scorecard, emphasizing its evolution and relevance in strategy execution over 20 years. Key topics include the importance of defining objectives, the role of performance indicators, and strategies for scaling execution efforts effectively. It also features insights from Jeroen de Flander, a recognized expert in strategy execution, who provides actionable tips and emphasizes the need for leaders to understand their contributions to the overall strategy.
Balanced Scorecard Master Class pdf
- 1. Jeroen De Flander Balanced Scorecard Master Class
- 2. Agenda Roger L. MARTIN Strategy & Design Thinking 1. 20 years Balanced Scorecard: What Works and Why : Practical Insights from the Field 2. Balanced Scorecard 2030: What Balanced Scorecard Hall of Fame Companies Will Do Next “Future performance is born today…”
- 3. Part I.20 Years Balanced Scorecard Topics Balanced Scorecard at the #6 spot 9 things every leader needs to know Head, Heart, Hands The right KPI’s 1 2 3 4
- 4. The Balanced Scorecard: The 6th most used management instrument in the world.
- 5. 1990... the new kid on the block
- 6. 9 things every leader needs to know about the Balanced Scorecard 1. The Balanced Scorecard approach is mature. It’s not a start-up! 2. The BSC is a strategy execution building block 3. Don’t believe IT companies: (1) It’s a process, not a tool; (2) It’s about cascading strategy, not KPI’s 4. Get your vocabulary strait: an objective is not a measure is not a target 5. Less is more, “20 = plenty” 6. The BSC is not the end station… so don’t stop! 7. BSC ≠ ideal solution for improving individual performance 8. Keep the size right 9. Automate with care!
- 7. The ‘8’ - a simple SE framework Performance 0+0=8
- 8. The extended ‘8’ Performance 0+0=8 “A strategy Execution framework should be simple, easy-to-communicate and visually strong”
- 9. The Rule of 150 Groups bigger than 150 people need formal structures. Conclusion: We have to scale strategy execution for size
- 10. The Balanced Scorecard & individual objectives
- 11. The right objective Awareness & Acceptance Res- ponsability “What’s your contribution to the overall strategy” “Do you understand the strategy and your contribution? + do I get a YES?” “What are both of you doing to improve performance?” “Head” “Heart” “Hands Reach for Head,Heart & Hands 11
- 12. Don’t assume a ‘yes’ is always a ‘yes!’ When your employee says ‘yes’ to the strategy.... ....what does (s)he really say? I will make the strategy happen, no matter what or I will work hard (effort ) to implement the strategy or I see the benefits of the strategy and will contribute to the implementation or I don’t see the benefits but don’t want to loose my job or I’m against the strategy, don’t want to implement but I don’t tell it in your face
- 13. Every strategy needs a finish line
- 14. Marathon Runners “What’s the best way for marathon runners to predict the time on their next marathon? “
- 15. Yasso 800m Your time in minutes and seconds for a workout of 10 times 800 meters (2 laps) with equal recovery time, is the same as the hours and minutes of your marathon time. For example, if you can run 10 times 800 meters in 3 minutes and 20 seconds with 3 minutes and 20 seconds of recovery, this predicts that you can run 3 hours and 20 minutes for your marathon. Conclusion: Find lead indicators that show you the way to success
- 16. Player versus Coach What dashboard do you need? “What dashboard do you need?”
- 17. Part II.Balanced Scorecard 2030 Topics A Strategy Map isn’t Strategy 4 Balanced Scorecard benefits The Future of the Balanced Scorecard Change management: fight the 7 bad guys on the execution road 1 2 3 4
- 18. A Strategy Map is...
- 19. What does a strategy map do? First ... You choose WHO your client is and decide HOW (strategic drivers) you are going to offer them unique value Second... You order your HOW (strategic drivers) into a coherent story that is easy to repeat Third... You define the success currency (measures) and define how much you want (targets) Fourth... You cluster major actions into groups (Initiatives) Fifth... You define the individual contributions that drive performance (individual objective setting) ... and only then the real work starts. 19
- 20. From measuring strategy to a holistic 4 benefit Balanced Scorecard The BSC cascades your strategy The BSC measures your strategy progress The BSC communicates your strategy The BSC boosts your strategic thinking skills 1 2 3 4
- 21. The Curse of Knowledge The Tapping & ‘E’ Decision Paralysis The Jam experiment Message Distortion Sherlock Holmes Mystery Mitigated Speech The Cockpit Tragedy The Pygmalion Effect Israeli army experiment CO2mplexity Tata’s Dream Willpower depletion The Cookie experiment
- 22. The Execution Challenge,Our Contribution 300+ useful implementation tips Actionable, up-to-date benchmark information Beat the 7 execution villains
- 23. Jeroen De Flander – Strategy Execution Ambassador Jeroen De Flander is one of the world’s most influential thinkers on strategy execution and a highly regarded keynote speaker. He has shared the stage with prominent strategists like Michael Porter , Bob Kaplan & Roger Martin and reached out to 24,500+ leaders in 40+ countries. His first book Strategy Execution Heroes reached the Amazon bestseller list in 5 countries and was nominated for Management Book of the Year 2012 in the Netherlands. His second book, The Execution Shortcut, reach the #3 spot in its category on Amazon. He is co-founder of the performance factory – a leading research, training and advisory firm specialized in Strategy Execution. He has advised 75+ companies including Atos Worldline, AXA, Bridgestone, Brussels Airport, CEMEX, Credit Suisse, GDFSUEZ, Honda, ING, Johnson & Johnson, Komatsu, Microsoft, Nike and Sony on various strategy and strategy execution topics. To book Jeroen to speak at your next event or to run a strategy execution seminar for your company, please contact him through his blog www.jeroen-de- flander.com or [email protected]. Follow him on LinkedIn.Read his weekly article on LinkedIn Pulse
- 24. www.the-performance-factory.com Balanced Scorecard Master Class Jeroen De Flander jeroen-de-flander.com Thank you