Balanced Scorecard Institute EMEA works with clients to develop strategies that create sustainable competitive advantage
Strategy is an integrated set of choices that drive organizations to achieve their vision for the future. At its core, strategy design is the act of formulating the answers to four strategic choices: Which customers will we serve, where, and what will we provide them? What will our economic model look like? How can our organization best serve these customers? What skills do we need to have in our organization?
The key goal in designing your strategy is to create a sustainable competitive advantage. Your value proposition is the articulation of how that advantage translates to the marketplace. It describes, using simple language, your offerings and why you are best positioned to deliver them to your customers. Strategy, however, is only as good as the organization’s ability to execute. Most companies that develop a strategic plan are unable to translate into marketplace success. Often, strategic plans sit dormant on a shelf. Through our Strategy Design for Execution approach, Balanced Scorecard Institutes helps clients formulate strategy that is executable and establish a strategy management system to ensure the strategy is well executed.
An executable strategy needs to be meaningful and actionable
For a strategy to be executable, two things must be true. First, the strategy must be meaningful to the people who will execute it. The organization’s mission must be embedded in the strategy. The objectives must be clear. The strategy should provide a rallying cry for everyone from leaders to rank-and-file employees. Second, the strategy must be actionable. Employees at every level must understand the strategy, and more importantly, understand how it impacts their daily decisions. A set of comprehensive initiatives should address how the organization will work to achieve its targets. Lastly, the strategy must have clear measures both to inspire people and to assess progress toward goals.
Balanced Scorecard Institute’s approach to strategy designed for execution allows organizations to develop a rich, detailed strategy that wins the hearts and minds of people while laying out clear paths for execution. We find that through the application of techniques such as war gaming and scenario planning, we’re able to help our clients topractice the strategy, to understand how stakeholders in the competitive environment will respond to potential strategic actions, and where the organization must focus its resources to ensure delivery of the intended value.