Strategy Formation
The Balanced Scorecard was designed as a tool to ensure organizations effectively execute their unique strategy, and it has proven its ability to do so as thousands of organizations around the globe have discovered through the benefits of greater alignment, improved financial results, and streamlined decision-making.
Some organizations turn to the Balanced Scorecard in an effort to formulate their strategy. This is a mistake, one that can derail your implementation efforts, since the tool was designed specifically to translate strategy, not create it.
As a consultant working in the Scorecard arena for well over a decade I’ve seen my share of organizations that struggle through the Scorecard process, and in most situations it’s a case of misplaced expectations, and not the tool itself that leads to frustration.
To help organizations anxious to receive the many benefits the Scorecard is capable of delivering I’ve developed a simple process for creating strategy that I call Roadmap Strategy, based on the title of my new book, and first management fable, "Roadmaps and Revelations: Finding the Road to Business Success on Route 101." The principles of Roadmap Strategy are based on decades of research and best practices on strategy formulation and packaged in a simple to understand and easy to apply framework.
