fruiStrategy™ Balance Scorecard
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.
Manual system with spreadsheets:
- No standardization in the strategy processes
- Lack of data integrity and transparency in excel sheets
- Lack of collaboration feature
- Time consuming process
- Aggregation and application maintenance is the challenge
- Connecting to variety of data sources to report the performance is a key challenge
Incomplete strategy execution systems:
- Comprehensive dashboards connected to multiple data sources is a key challenge
- Planning and budgeting is a separate system and no seamless integration complicates the process
- Lack of dedicated support from vendors is the key challenge
fruiStrategy™ BSC enables execution of all phases of strategy management processes of “Execution Premium (XPP)”.
- Develop strategy: Develop mission, vision, and values. Define strategy projections, value gap, and value gap closure through initiatives and objective performance.
- Translate the strategy: Strategy is translated through strategy map with clear link to cause and effects. The Balanced Scorecard is developed containing objectives, measures, targets, initiatives, and ownership. Define key performance indicators and dashboards.
- Alignment: Develop alignment for key planning and operational business processes, systems, people, and structure with strategy. Align corporate units, business units, board, and all stakeholders. /li>
- Business planning & budgeting: Develop business plan and budgets to support strategy execution. This is linked to operational planning and hence end-to-end alignment is taken care.
- Initiative management: Identify strategic initiatives to achieve strategic objectives and close value gap. Monitor initiative performance individually and collectively to give desired results.
- Monitoring and learning: Conduct effective strategic and operational reviews with continuous updates as objective story, theme story, and initiative story board. Continuously update lessons learned and keep knowledge base available for all strategy participants.Monitoring and learning: Conduct effective strategic and operational reviews with continuous updates as objective story, theme story, and initiative story board. Continuously update lessons learned and keep knowledge base available for all strategy participants.
- Test and adapt strategy: Perform strategic analysis by testing the strategic assumptions and choices and modify future strategy to achieve organization vision considering emerging strategies.
fruiStrategy™ BSC supports comprehensive strategy execution processes supported by Kaplan-Norton Execution Premium. The following are key features are supported.
- Strategic analysis and projections
- Strategy mapping
- Balanced Scorecard with objectives, measures, initiatives, and owners
- Alignment of processes, people, system and structure
- Alignment of corporate units with business units
- Risk & compliance
- Industry best practice KPIs
- Initiative progress management
- Strategic review and updates
- Strategy review bundle
- Link to business planning & budgeting
- Performance dashboards
- Performance story board for objectives, themes, and initiatives
- Strategy refresh
- Collaboration tools
- Data integration
- Security management
- Mobile productivity
- Instant alerts and notifications
- Ticketing system
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