Consultancy
Strategy and Business Excellence Consultancy:
Strategy
Strategic management is the formulation and implementation of the major goals and initiatives of the organization, and then identifying the best approach for achieving those goals.
Principles of a strategy-focused organization
- Translate the strategy to operational terms,
- Align the organizational strategy,
- Make strategy everyone’s everyday job,
- Make strategy a continual process, and
- Mobilize through executive leadership.
Vision
Vision statement decribes the desired future state of the organization.
Mission
Mission statement describes the organization’s current state, objectives and approach which are used to attain the vision.
Objective
An objective is a statement which describes the organization is hoping to achieve. It should be SMART (Specific, Measurable, Acheivable, Reliastic and Time bound).
KPI
KPI (Key Performance Indicator) is a business metrics and it is used to track and analyze the result or activity which are align to the strategy of the organization.
Benefits of Strategic Planning
- Increase Productivity
- More efficient use of limited resources
- Proactive decision making
- Team Building
- Cost Reduction
- Continual Improvement
Balanced Scorecard
The Balanced Scorecard (BSC) is a business framework used for tracking and managing an organization’s strategy. The BSC framework is based on the balance between leading and lagging indicators, which can respectively be thought of as the drivers and outcomes of organization goals.
Balanced Scorecard have the capability to:
- Describe the strategy.
- Measure the strategy.
- Track the actions which have taken to improve upon the results
Throughout the process of creating the BSC, Norton and Kaplan realized an organization must first begin with goals that can be broken down into four distinct perspectives that are uniquely connected:
Financial goals
Vision statement decribes the desired future state of the organization.
Customer goals
What things are important to the customers, which will in turn impact the financial standing?
Internal Process goals
What to do well internally, in order to meet the customer goals, that will impact the financial standing?
People (or learning and growth) goals
What skills, culture, and capabilities that the organization need to have in order to execute on the process that would make the customers happy and ultimately impact the financial standing?
