Framework: Performance Management Systems (e.g., Balanced Scorecard and Strategy Maps)
Core Question: How can I gauge the success of a strategy and decide how to modify it?
Key Application Steps:
- Translate the strategy into ‘strategic themes’ driving performance
- Develop Balanced Scorecards for each theme
- Link to unit and individual performance through Personal Scorecards
- Use the maps and scorecards for feedback and learning
Comparisons with other concepts and frameworks:
Many of the strategy tools we have covered have focused on the formulation of strategy and making corporate investment decisions. This tool, like the merger process model, is about strategy execution
Illustrative Decision Contexts:
How can I make sure executives are focused on the right objectives?
How can I ensure balance between long-term and short-term, internal and external?
How can I ensure coherence, or fit with strategy, in how strategy is operationalized?
