fruiStrategy® Balanced Scorecard is a comprehensive strategy execution supports Dr. Kaplan & Dr. Norton’s Execution Premium approach. A complete framework to take care of project management, risk management, compliance management, communications management, and review management are included in the solution through structure approach of overall strategy execution process.
Balanced Scorecard is a framework that translates an organization’s strategy into a set of objectives and measures, and aligns the organization to them though it’s planning and control processes”— David Norton.
Less than 10% of strategies effectively formulated are effectively executed – Fortune Magazine
Strategy execution is the key challenge for majority of senior executives of any organization. Kaplan-Norton Balanced Scorecard is proven methodology for strategy execution used by many high performance organizations.
The Balanced Scorecard generally relies on four perspectives to monitor Organizational health. The perspectives can be different for non-profit or shared services etc.
Financial Perspective: The financial health of any enterprise is critical for long-term survival. Typical measures used by organizations include revenue growth, operating income, return on equity, and other measures of interest to owners.
Customer Perspective: The customer perspective compares the enterprise’s service to the competition’s service. Specific metrics vary by industry but most focus on time, quality, and service levels. Metrics common to most industries include customer satisfaction and enterprise responsiveness.
Internal Process Perspective: This perspective helps the enterprise understand the efficiency and effectiveness of internal business processes and supporting technologies. Many companies focus on the time to take an order, on-board a new hire, or complete other internal processes.
Learning & Growth Perspective: This perspective considers the degree to which the enterprise can evolve and improve the way it supports its goals. Organization capacity monitors people, culture, organization, and the infrastructure to support them.
All tools, business processes, review processes, alignment processes, performance management processes required for strategy execution on one platform.
Comprehensive solution enabling strategy execution through proven and most popular methodology “Execution Premium (XPP)” of Dr. Kaplan and Dr. Norton
Define Balanced Scorecard, perspectives, themes, strategic objectives, measures, targets, and ownership with appropriate performance reporting.
Access to industry best practices best practice KPIs which can be used to define measures for strategic objectives properly.
Analyse performance with targets versus actuals against each measure with benchmark with other business units, industry performance, and ideal target numbers.
Manage strategic initiatives with reporting of progress on periodic basis for weekly, monthly, quarterly with progress on schedule and cost.
Manage strategy review meetings with the information available at hand and report all reviews, analysis, and action points during the meeting and communicate to all key stakeholders.
Align organization with corporate to business unit, support services, business processes, strategic objectives, measures and manage the progress of alignment index.
Manage enterprise PMO operations with proper definition of portfolios, programs, projects, and link them to strategic management process in an integrated way.
Identify and manage risks and eliminate them in the strategy execution. Improve risk control through proper budget allocations.
Report personal performance and make sure that the people are aligned to the organization. Measuring happiness index and alignment is the key for strategy execution.
Get the overall organizational performance and continuously review the overall performance index to help see the direction strategically.
Strategy Map: A strategy map is a simple graphic that shows a logical, cause-and-effect connection between strategic objectives. It is one of the most powerful elements in the balanced scorecard methodology, as it is used to quickly communicate how value is created by the organization. With a well-designed strategy map, every employee can see how they contribute to the achievement of the organization’s objectives.
Balanced scorecard contains strategic objectives and measures for each objective. The measure will have actuals and targets. To achieve the targets, we need to identify appropriate strategic initiatives/projects.
fruiStrategy helps you to define dynamic strategy map which include time dependent objectives, drill down to stories, drill down to performance numbers, send action messages for performance gaps, and monitor business performance holistically.
Value Gap Analysis and Closure: Value gap is the gap in performance numbers which cannot be achieved through current capacities or capabilities to meet the strategic projections. The value gap can be arrived by product/service groups, or by regions. Typically, the expected revenue gaps are closed through strategic objectives, initiatives, and measures. The systematic definition of value gaps and how they will achieve the closure will give great insight during the strategy execution.
The value gap closure performance can be recorded as part of BSC reporting and hence you can keep the track of link of strategy plan to execution.
Strategy Reviews and Actions:Strategy review is the process by which the management of an organization assesses how well a chosen strategy has been implemented and how successful or otherwise the strategy is and measure the overall organizational performance.
Reporting of KPI actuals, initiative performance, people performance is the key process in all organizations. The process will be simplified by robust automation to any ERP or other systems.
The review meetings are decision-driven meetings that focus on the big picture rather than tactical issues and identify new value-creating opportunities within a business.
Performance Reporting: A variety of reports can be extracted from the Balanced Scorecard to monitor and enhance the performance of the overall strategy of an organization. A few of them include a report with the values of all indicators from the scorecard, a report with data of leading and lagging indicators, summary of all initiatives with budget and duration, a report with goals, initiatives, and the persons responsible, a report with mission, vision, core values and strategic themes, a report with all strategy maps in the scorecard, and any other customized reports as desired.
Identifying, initiating, and managing strategic initiatives ...
Risk management is the process of identifying, assessing,...
How do you determine the organization’s ability to execute strategy? ...
Aligning people’s performance to the strategy makes..
Why do organizations fail to get results from Strategy Execution Initiatives especially, Balanced Scorecard programs?...
The strategy has to drive the business and hence the business processes and operations...
What we can do for you
Consulting for all steps in strategy execution which include strategy planning, strategy translation, strategy reviews, initiative management, risk assessment, performance management, and others.
Integration with all complementing solutions and data sources to have seamless flow of data to make data available on time to enable better decision making.
Software solution which is comprehensive, easy to implement, easy to maintain empowered by latest technologies which include AI/ML, process mining, mobility, API enabled.
Training the users for Balanced Scorecard concepts, strategy execution process, knowledge transfer, system and tools utilization and content preparation
"We shortened overall budget process efforts by 80%, enabled faster budget revisions, reduced errors & increased collaboration. We end up having highly satisfied business users”.
"Achieved robust transformation of supply chain planning and budgeting process through Enterprise Performance Management implementation".
"Delivered comprehensive and optimized business process design and information flow architecture for end-to-end supply chain as part of operational excellence by design".
"Established Strategy Management processes and introduced Project Management operations successfully".
"Successfully completed assessment of warehouse operations for large pharma supply chain organization to achieve excellence in warehouse operations".
"Achieved supply chain optimization through operational excellence initiative and introduced MRP process successfully".