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How to Improve Your Balanced Scorecard: An LGL Video

Let's Grow Leaders

As Builder week continues on Let’s Grow Leaders, I’m mixing it up a bit and sharing some insights on Improving Your Balanced Scorecard. ResultsThatLast #resultsthatlast how to improve your balanced scorecardThis video is part of my online multi-media series. Click here to learn more and download some free resources as well. Also, I’m going to be mixing in more video from time to time. I’d love for you to subscribe to my YouTube channel.

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The Balanced Scorecard: Do’s and Don’ts

First Friday Book Synopsis

In a book published in 1996, The Balanced Scorecard: Translating Strategy Into Action, Robert S. Norton developed in much greater depth and detail a concept they introduced previously in an HBR article (January/February, 1992): the balanced scorecard. As they explain in their Preface, “the Balanced Scorecard [BSC] evolved from an improved [.]. Kaplan and David P.

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Strategy Execution and The Balanced Scorecard

Six Disciplines

Kaplan, one of the original creators of the Balanced Scorecard in 1992. Creating a strategy map and scorecard for that strategy is the logical and proven next step for putting the strategy into action. Harvard Business School Working Knowledge offers up this interview with HBS professor Robert S. Key take-aways from their latest research: Companies often manage strategy in fits and starts.

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Balanced Scorecards And Useful SWOT Worksheets

Six Disciplines

A while back, Quality Digest published an article on Building a Balanced Scorecard. The balanced scorecard, one of the most significant management philosophies of the last quarter-century, confronts that stratagem head-on with a simple core concept: Stop trying to manage your organization by financial measures alone. Their premise?

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Balanced Scorecard - The Next Big Thing?

Six Disciplines

Many corporate managers have been introduced to a corporate management system called the Balanced Scorecard. Developed at the Harvard Business School by David Norton and Robert Kaplan in the early 1990s, the Balanced Scorecard (BSC) represents the newest and most prolific performance measurement system since Total Quality Management (TQM) and Management by Objectives (MBO).

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Strategy Execution and The Balanced Scorecard

Six Disciplines

Kaplan, one of the original creators of the Balanced Scorecard. Creating a strategy map and scorecard for that strategy is the logical and proven next step for putting the strategy into action. Harvard Business School Working Knowledge offers up this interview with professor Robert S. Key take-aways from their latest research: Companies often manage strategy in fits and starts.

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Is empathy the great resignation’s secret solution?

CEO Insider

CEO Insider Accounting Insider Analytics Insider Assessing Performance Insider Auditing Insider Balanced Scorecard Insider Behavioral Economics Insider Business Law Insider Business Models Insider Chief Encouragement Officer Insider Chief Everything Officer Insider Think Tank Insider

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How Small Business Can Benefit By Acting “Big”

CEO Insider

CEO Insider Accounting Insider Analytics Insider Assessing Performance Insider Auditing Insider Balanced Scorecard Insider Behavioral Economics Insider Business Law Insider Business Models Insider Chief Encouragement Officer Insider Chief Everything Officer Insider Think Tank Insider

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Here’s How to Keep Your Workforce Intact as the Great Resignation Continues

CEO Insider

The “Great Resignation” is a signal that the balance of power is shifting toward employees, and the pendulum won’t be swinging back any time soon. Americans are increasingly prioritizing personal happiness and the search for purposeful work over jobs that simply pay the bills.

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The Second Half of 2021: Don’t Play Small Ball

CEO Insider

CEO Insider Accounting Insider Analytics Insider Assessing Performance Insider Auditing Insider Balanced Scorecard Insider Behavioral Economics InsiderIn business and life, we often find ourselves at a crossroads or an intersection, if you will.

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Want to Make Better Decisions? Speed Them Up!

CEO Insider

CEO Insider Accounting Insider Analytics Insider Assessing Performance Insider Auditing Insider Balanced Scorecard Insider Behavioral Economics Insider Time Management Insider Transparency Insider Venture Capital Insider Work Life Balance Insider Workspaces Insider

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Use the Right Scorecard

Lead Change Blog

Warren Buffett, business tycoon and the chairperson and CEO of Berkshire Hathaway, says, “The big question about how people behave is whether they’ve got an inner scorecard or an outer scorecard. It helps if you can be satisfied with an inner scorecard.”. We rely too much on the outer scorecard at the expense of the inner one. The post Use the Right Scorecard appeared first on Lead Change. “Honey, you really need to start dusting every day.

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The hottest finance trend in business today may be what your business needs

CEO Insider

CEO Insider Accounting Insider Analytics Insider Assessing Performance Insider Auditing Insider Balanced Scorecard Insider Behavioral Economics Insider Time Management Insider Transparency Insider Venture Capital Insider Work Life Balance Insider Workspaces Insider

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Reimagining the Balanced Scorecard for the ESG Era

Harvard Business Review

An update to one of the most successful management tools of all time. Economic development Public-Private partnerships Social responsibility Sustainability Strategy Shared value Strategic planning Digital Article

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Why Leadership Requires Prudence and Temperance

Mills Scofield

Balanced Scorecard Culture Innovation Leadership Prudence Strategy Temperance Thank you Innovation Excellence for posting my thoughts from Smartblogs on Leadership ! Why Leadership Requires Prudence And Temperance.

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The Strategy-Focused Organization: A book review by Bob Morris

First Friday Book Synopsis

The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment Robert S. Kaplan The Balanced Scoreboard The Perilous "Journey" to Achieve Breakthrough Performance The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment Translate the strategy to operational terms Translating the Strategy to Operational Terms

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Blogging on Business Update from Bob Morris (Week of 1/7/13)

First Friday Book Synopsis

Bob's blog entries "Good and Bad 'Multipliers' in the Workplace Environment "How to achieve large-scale transformation in a series of smaller pragmatic steps" "How to formulate a 'balanced scorecard'”? BOOK REVIEWS Likeable Social Media: How to Delight Your Customers, Create an Irresistible Brand, and Be Generally Amazing Dave Kerpen Taking Flight!

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Blogging on Business Update from Bob Morris (Week of 1/21/13)

First Friday Book Synopsis

Kaplan Robert William Fogel Setting the Table Solitude and Leadership The American Scholar The Balanced Scorecard The Fourth Great Awakening & the Future of Egalitarianism The Master and His Emissary The McKinsey Quarterly The Talent Masters Thomas O'Neil Tim Leberecht Victoria Ransom Walter Chen Wildfire William Deresiewicz

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Harvard Business Review on Aligning Technology with Strategy: A book review by Bob Morris

First Friday Book Synopsis

Bob's blog entries Alignment: Using the Balanced Scorecard to Create Corporate Synergies Andrew McAfee “Six IT Decisions Your IT People Shouldn’t Make” Bold Retreat: A New Strategy for Old Technologies and Investing in IT That Makes a Competitive Difference” Competing on Analytics Daniel C.

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Help Your Team Become More in 2014

Let's Grow Leaders

We’ve debated what defines a “balanced scorecard” and negotiated performance objectives down to the […] The post Help Your Team Become More in 2014 appeared first on Let's Grow Leaders. ”If your actions inspire others to dream more, learn more, do more and become more, you are a leader.” ” -John Quincy Adams My eyes are crossing and my neck is twitchy after 27 conference calls to finalize our 2014 Performance Agreements.

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How do you measure the long term success of an MD?

Chartered Management Institute

absentee levels business performance capital invested customer retention customer satisfaction innovating innovation Kaplan and Norton’s Balanced Scorecard labour turnover performance measurement personal development profit revenue sustainable performanceMeasuring performance of the MD through hard, soft, personal and strategic measurements and bring all these measurements together in a coherent manner.

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How do you measure the long term success of an MD?

Chartered Management Institute

absentee levels business performance capital invested customer retention customer satisfaction innovating innovation Kaplan and Norton’s Balanced Scorecard labour turnover performance measurement personal development profit revenue sustainable performanceMeasuring performance of the MD through hard, soft, personal and strategic measurements and bring all these measurements together in a coherent manner.

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How Leaders Make Business Metrics Meaningful

Let's Grow Leaders

Meaningful Business Metrics Aren’t About the Number When it comes to business metrics, there’s a secret that top-performing leaders understand, but might not tell you aloud: “Your customer doesn’t care about your internal scorecard.” Listen to calls and provide balanced performance feedback.

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How To Lead With Guts (and Have Their Backs)

Let's Grow Leaders

Retail is always a balancing act of providing great customer service and not giving away the store. It became harder to talk about balanced scorecards. More than anything, your team wants to know you have their backs. They want to know they matter–to you–not just to the company. They want to believe you’d walk through fire for them and to take the proverbial bullet coming from above. Of course you would, but do they know it?

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StrategyDriven Podcast Special Edition 3 – An Interview with Forrest Breyfogle, author of Integrated Enterprise Excellence, Volume I – The Basics

Strategy Driven

During our discussion, Forrest Breyfogle, author of Integrated Enterprise Excellence, Volume I – The Basics : Golfing Buddies Go Beyond Lean Six Sigma and the Balanced Scorecard and CEO of Smarter Solutions, a global management coaching and consulting firm specializing in the design and application of innovative enterprise-wide performance measures and business solutions, shares his insights regarding: the importance of an integrated approach to organizational performance improvement.

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9 Ways to Strengthen Your Personal Brand

Let's Grow Leaders

If there are 27 metrics on your balanced scorecard, trust me, they are not all created equal. If you Google you, do you like who shows up? Do you feel like you’ve got a powerful message to share, but without the right positioning, find yourself talking to the metaphorical mute button? Are you having trouble outgrowing an outdated reputation at work? Or maybe you’re just looking to get a better seat at the table. 9 Ways to Strengthen Your Winning Well Brand.

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The Benefits Of A Formal Strategy Execution Process

Six Disciplines

Scott Cleveland reports that a managing director of the Palladium Group (think: balanced scorecard) conducted a survey that compared two groups, one with and one without a formal strategy execution process in place. A formal process in their terminology means "strategy maps, derived projects and process improvements from it, and associated key performance indicators (KPIs) with targets reported in scorecard dashboards and cascaded down into the organization.".

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What Matters Most? (A Leaders Made Here Post)

Lead Change Blog

Think process and outcome – I have long been a fan of the balanced scorecard concept. I suggest including both types on your scorecard. If your needs change as an organization, change your leadership scorecard. If you have no one trained on your leadership point-of-view, put that on your scorecard. We welcome Mark Miller for the fourth post in a five-part series defining the core principles of Leaders Made Here. Step 4 – Measure.

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The Strategy Book

Leading Blog

The tools include: SWOT analysis, Porter's 5 forces of competition, McKinsey's 7-S framework, BCG’s product portfolio matrix, Kim and Mauborgne's blue ocean, Kaplan and Norton's balanced scorecard, Mintzberg’s deliberate and emergent, Prahalad's bottom of the pyramid and twenty-one more. * * * Like us on Facebook for additional leadership and personal development ideas. “Strategy is about shaping the future,” writes Max McKeown.

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The Score Isn’t the Game

Let's Grow Leaders

A balanced scorecard, with well-selected KPIs, will reinforce your strategy and align actions with goals. In every business there are one or two vital behaviors that will improve your overall scorecard. Sarah’s face winced as the hourly stack rankings beeped through her smart phone. She didn’t have to say a word, I knew that look from the inside out. I’ve been on the frantic receiving end of such beeps.

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The Disconnect Between Strategy And Execution

Six Disciplines

While all of us agree there's a disconnect between strategy formulation and strategy execution, the developers of the Balanced Scorecard (Robert Kaplan and David Norton) offer up this terrifying observation: On average, 95% of a company's employees are unaware of, or do not understand, its strategy.

Execution 101
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8 Reasons Companies Don’t Capture More Value

Harvard Business Review

But in truth businesses rarely focus on only profitability; most strive to satisfy various stakeholders and meet the goals of balanced scorecards. Again, profit maximization is rarely the sole objective for a firm but just one of many dimensions to be considered, so a good starting point is to consider the company’s balanced scorecard and draw its strategy map. Business models Pricing Balanced scorecard

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A Closed-Loop Strategy Execution System

Six Disciplines

Norton (creators of the Balanced Scorecard) offer their insights concerning the "rules" of successful strategy execution: The failure to balance the tensions between strategy and operations (execution) is pervasive. That statement is then translated into specific objectives and initiatives, using other tools and processes, including strategy maps and balanced scorecards.

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The Benefits Of A Formal Strategy Execution Process

Six Disciplines

Scott Cleveland reports that a managing director of the Palladium Group (think: balanced scorecard) conducted a survey that compared two groups, one with and one without a formal strategy execution process in place. A formal process in their terminology means: "strategy maps, derived projects and process improvements from it, and associated key performance indicators (KPIs) with targets reported in scorecard dashboards and cascaded down into the organization.".

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If You Use Outlook, Why Not Look Into Six Disciplines Outlook Edition?

Six Disciplines

Measurement (KPIs, balanced scorecard). Six Disciplines Outlook Edition is already familiar to the majority of knowledge workers, because it's a rich extension of Microsoft Outlook. You already know what Outlook helps you do: your email, your calendar, perhaps you even use it to manage your To-Do lists (tasks) - and your contacts. How much more useful would Outlook be for you, individually and collectively as an organization, if you could also do: Strategic planning.

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Spend Most Of Your Time In Outlook? Introducing Six Disciplines Outlook Edition

Six Disciplines

Do you use a balanced scorecard, but want to do it within Outlook? Do you spend 80% of your time (at work) in Microsoft Outlook? Do you practice Covey's 7 Habits, but want to do it within Outlook? Do you practice GTD, but want to do it within Outlook? Up until now, you had to use several different programs and approaches to accomplish what you really wanted to do. We all know (and rely on) Outlook for our email and our calendar, and maybe even our To-Do list.

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A Closed-Loop Strategy Execution System

Six Disciplines

Norton (creators of the Balanced Scorecard) offer their insights concerning the "rules" of successful strategy execution: The failure to balance the tensions between strategy and operations (execution) is pervasive. That statement is then translated into specific objectives and initiatives, using other tools and processes, including strategy maps and balanced scorecards.

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The Key Observation In Managing Strategy Is Managing Change

Six Disciplines

Dr David P Norton, (co-inventor of the Balanced Scorecard) explains in OutlookBusiness magazine (India) how companies can grow successfully by adopting effective strategy planning and execution. Key highlights from the interview: The research that Dr Robert Kaplan, myself and our colleagues at the Palladium Group have done over the years indicate that there are five common principle s that are found in successful companies.

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Knowledge Transfer - A Generational Challenge For Strategy Execution

Six Disciplines

BOTTOMLINE: To enable knowledge transfer, a strategy execution system ( such as Six Disciplines software ) must have built-in methods for recording and storing processes and procedures, document management, innovation exercises, activity performance management, balanced scorecarding, and measure management. As large numbers of baby boomers retire, knowledge transfer becomes critical to an organization's sustainability and competitive edge.

Execution 101
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Why Is Executing Strategy So Difficult - And What Can Be Done About It

Six Disciplines

All contemporary methodologies for implementing strategy (Balanced Scorecard, Hoshin Planning, - and yes, Six Disciplines ) have the same five common elements: Focus on a few critical strategic goals.

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The Year Is Half Over…Do You Know Where Your Strategic Plan Is?

CO2

According to Robert Kaplan, creator of the Balanced Scorecard, the main cause of strategic planning failure is poor execution. If you aren’t sure, you’re not alone. And Kotter International determined that, on average, 70% of new, large-scale strategic initiatives fall short of their goal, as did a similar McKinsey & Company 2009 study.

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The Key Observation In Managing Strategy Is Managing Change

Six Disciplines

Dr David P Norton, (co-inventor of the Balanced Scorecard) explains in OutlookBusiness magazine (India) how companies can grow successfully by adopting effective strategy planning and execution. Key highlights from the interview: The research that Dr Robert Kaplan, myself and our colleagues at the Palladium Group have done over the years indicate that there are five common principle s that are found in successful companies.

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The Fourth Dimension of Change Management

Change Starts Here

Before starting Enclaria, I managed an “executive working group” program for Balanced Scorecard Collaborative. Earlier this week, James Lawther shared his story of researching change management models in order to expand his toolkit beyond the initial training he had received.