Managing with Measures

In this brand-new, breakthrough Palladium training, entitled "Managing with Measures - Creating a World-Class Performance Measurement System," insights and information from across the performance measurement value chain will be examined and discussed. Leading measurement authorities will introduce participants to proven methods for turning information—measures and metrics—into higher business performance, by showing how to develop the performance measurement value chain in order to address the key questions of business performance: how are we doing today (and what is driving how we're doing)?; how do we need to be doing tomorrow?; and what must we do to close the gap between today's and tomorrow's performance?

> Learn more about the Managing with Measures training seminar

Developing Strategy with the Balanced Scorecard

The first training seminar in the strategy execution series focuses on the first step in the continuum of strategy execution—strategy formation and specifically reviews the history of strategy thought, approaches to strategy making, and details the approach to strategy formation, including mission analysis, external/internal analyses, issue prioritization, setting the strategy, and linking strategy making with execution.

A strategy is an integrated set of choices that position a firm, in an industry, to earn superior results over the long run. Developing strategy requires a time commitment, critical thinking, and an investment of resources. If done correctly, a good strategy development process should greatly improve the likelihood of execution success. Like any process, you and your organization get out of it what you put into it. Our research indicates that organizations are somewhat haphazard in how they go about selecting techniques to develop their strategy. Some rely on advice from consultants; others default to methods they applied in the past. But as is the case with any tool, the key to success is selecting the right one for the job.

Developing Strategy with the Balanced Scorecard will introduce you to the Balanced Scorecard’s strategy development process and demonstrate how to link strategy development and execution. Learn how to:

• Differentiate between theories or strategies
• Develop a 6-step Balanced Scorecard Strategy Development Process
• Design principles for linking Strategy Formation and Execution
• Define domain, determine planning horizon, and analyze a mission
• Conduct external micro/macro analyses
• Conduct internal review process and prioritize issues
• Link Strategy Formation and Strategy Execution

Mapping Strategy with the Balanced Scorecard

This training seminar concentrates on how to translate strategy into operational terms; create a strategy map; design a scorecard; identify measures, targets, and initiatives; achieve executive leadership consensus and buy-in; and build on an existing scorecard initiative.

The Balanced Scorecard strategy map is a powerful tool for organizations around the world. The Strategy Map guides users through the process of developing strategic initiatives and measures, and mapping them shows the alignment of your organization's objectives. This process allows everyone in the organization to understand and see that the organization is putting their money where their mouth is.

Do you know the strategic destination of your organization? Mapping Strategy with the Balanced Scorecard will enable you to conduct effective strategic planning in your organization the day you step back in the office. This session will introduce to you the potential of the Balanced Scorecard Strategy Map as the foundation of a strategy-focused organization. Learn how to:

• Create a strategy map
• Design a Balanced Scorecard
• Identify measures
• Gain executive consensus and buy-in
• Develop your first Balanced Scorecard report 

Cascading Strategy with the Balanced Scorecard

The third training seminar in our continuum of strategy execution curriculum reviews organizational and individual alignment methods; vertical alignment—cascading, horizontal alignment—between peer business and/or support units; communicating the Balanced Scorecard across the organization; strategic job families; making strategy everyone's job; and aligning performance management systems—rewards and incentive compensation.

The Balanced Scorecard is used to impart strategic change within an organization. Regardless of its cause, the strategic change must have top leadership commitment in order to successfully mobilize and cascade change throughout the organization. Management must be able to clarify the new vision and strategy, and communicate to the organization that strategy is everyones job. Organizations that are able to cascade their strategy throughout the organization have done through educating employees, thus instilling an understanding of the strategy in each employee, and fostering buy-in and support for the initiatives. Effective cascading creates synergy in an organization where the whole is greater than the sum of the parts.

Alignment of the organization to strategy gives everyone involved a clear line of sight to the strategy and enables the organization to develop synergies by sharing resources, costs and customers, which ultimately translates into greater organizational value. Cascading with the Balanced Scorecard will address the function and importance of organizational alignment in executing strategy. This seminar will teach you several types of Balanced Scorecard cascade methods and their application based on organizational type. Learn how to:

• Achieve vertical alignment
• Achieve horizontal alignment
• Communicate the Balanced Scorecard across the organization
• Cascade to individuals
• Align performance management systems—rewards & incentive compensation—to the BSC

Executing Strategy with the Balanced Scorecard

This training seminar defines strategy management and governance; reviews leadership involvement in the change process; explains how to sustain the Balanced Scorecard process over time via strategy review meetings, reporting, the link between planning and budgeting and strategy, the intersections between process improvement management and strategy and establishing an Office of Strategy Management.

In a 2010 survey of CEOs conducted by the Conference Board, "excellence in execution" was ranked as the #1 issue of concern to today’s CEOs. Close behind was "consistent execution of strategy by top management."

"The Balanced Scorecard is not a conceptual exercise; it is about execution." Dr. David Norton noted in his book The Strategy-Focused Organization. Successful strategy execution requires much more than a good strategy. It also requires a clear set of organizational priorities, effective deployment of resources, strong and committed leadership, and a structure to manage strategy, from development through execution.

Executing with the Balanced Scorecard will define strategy management and governance and highlight the importance of leadership involvement in the change process. Explore the link between planning and budgeting and strategy, the intersections between process improvement management and strategy, and the critical role of the Office of Strategy Management. Learn how to:

• Understand the role of leadership in the BSC process
• Evolve management meetings to focus on strategy execution
• Unify management activities into an Office of Strategy Management
• Link planning and budgeting to strategy
• Build effective BSC reports to monitor and drive performance
• Understand the role of management vs. leadership

Creating the Strategy Management Process

This training seminar will provide you with the tools, techniques, and best practices to understand the critical role of the Office of Strategy Management and how to design and implement the nine OSM strategy management principles in your own organization. 

A critical component of strategy execution is the creation of an Office of Strategy Management (OSM). Made up of a select number of cross-functional C-level executives, the OSM serves to facilitate the strategy management process so that strategy development and execution is accomplished in an integrated way across the organization and ensures an ‘execution bias’ is built into all formulation activities. Included in this facilitation role, the OSM serves to drive, coordinate and support the activities, principles, and best practices of the strategy management process.

Creating Strategy Management Process will provide you with the tools, techniques, and best practices to understand the critical role of the Office of Strategy Management. You will also learn how to design and implement the nine OSM strategy management principles in your own organization. In addition, you will have the opportunity to meet one-on-one with the experts from Palladium’s OSM Executive Working Group Program, the team responsible for helping dozens of organizations successfully set up their own OSMs.

Learn how the Office of Strategy Management:

• Develops strategy within the framework of the strategy map
• Drives/leverages balanced scorecard management
• Aligns organizational units to strategy
• Links strategic initiative management to strategy
• Designs/implements a strategic communications plan
• Aligns human capital
• Links long-term strategy processes to short-term operational plans via planning & budgeting
• Processes to short-term operational plans
• Leads strategy review meetings
• Identifies, captures and shares best practices