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Agile Strategy Management in the Digital Age - How Dynamic Balanced Scorecards Transform Decision Making, Speed and Effectiveness
von: David Wiraeus, James Creelman
Palgrave Macmillan, 2018
ISBN: 9783319763095 , 288 Seiten
Format: PDF, Online Lesen
Kopierschutz: Wasserzeichen
Preis: 37,44 EUR
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Agile Strategy Management in the Digital Age - How Dynamic Balanced Scorecards Transform Decision Making, Speed and Effectiveness
Foreword
6
Acknowledgements
9
Contents
10
List of Figures
16
List of Tables
18
1: Digital Age Strategy Management: From Planning to Dynamic Decision Making
19
Introduction
19
No “Perfect” Management Solution
19
It’s All About Evolution
20
Learning from Genetics
21
Common Challenges
23
The Scourge of Silo-Based Working
24
Research Findings
25
A Significant Bottleneck
25
Seeking Mechanical Solutions
26
The Strategy Function and Process
26
Research Evidence
27
Assumptions that Must Be Verified in Execution
28
End-to-End Process Management
28
Strategic Innovation
30
Disruptive Innovation
30
The Importance of Agility
31
An Agile and Adaptive Model for Strategy Execution in the Digital Age
32
Agile and Adaptive
32
Stage 1, How to Formulate Strategies for the Digital Age
32
Stage 2, How to Build an Agile and Adaptive Balanced Scorecard System
33
Stage 3, Driving Rapid Enterprise Alignment
33
Stage 4, Getting Results Through Agile and Adaptive Strategy Execution
34
Stage 5, Unleashing the Power of Analytics for Strategic Learning and Adapting
34
At the Centre of the Model: How to Ensure a Strategy-Aligned Leadership and Culture
35
Underpinning the Model: Creating a Strategy-Aligned Workforce for the 4th Industrial Revolution
35
Collaborative Scorecards
36
Parting Words: Shifting Paradigms
37
Self-Assessment Checklist
38
References
39
2: From Industrial- to Digital-Age-Based Strategies
40
Introduction
40
The Potential Dangers of Agility
40
Be Careful with the “Sprint”
41
Challenging the Notion that “Strategy is dead!”
42
Defining Strategy
43
Case Illustration: A Singapore Clothing Manufacturer
43
Harvard Business School Professors: Useful Definitions
44
An Integrated Set of Choices
44
Position a Firm, in an Industry
44
Over the Long Run
45
Defining the Sense of Purpose
45
The Mission Statement
45
Case Illustration: The Ford Motor Company (Disruptive Innovation in the Early Nineteenth Century)
46
Case Illustration 1: Kodak (Not Paying Attention to the Function)
46
Case Illustration 2: Blockbuster (Not Paying Attention to the Function)
47
The Relevance Question
47
Reinventing the Business Model
48
Research Evidence: A Gloomy Picture
48
Disruptive Innovation: Something of a Myth
49
Technology-Based Planning: Outmanoeuvring the Competition
50
New Wine in Old Bottles
50
Finance-Based Planning
51
Blue Ocean Strategy
51
Case Illustration: Cirque du Sol
51
Business Model Canvas
53
Capturing the Voice of the Customer
53
Research Evidence
54
Mapping the Customer Journey
54
Emotional Touchpoints
55
The “Unknowing” Customer
56
Case Illustration: How Alibaba Is Disrupting Retail
56
Parting Words
57
From Finance-Based to Technology-Based Planning Self-Assessment Checklist
59
References
61
3: Agile Strategy Setting
62
Introduction
62
Crafting a Vision Statement
62
Not Visions: Advertising Slogans
62
Executable Visions
63
A Quantified Vision
64
Case Illustrations
64
Mid-Term Visions
64
Identifying the Value Gap
65
Environmental Scanning
66
Pattern-Based Strategy
67
Pattern Seeking
68
Optempo Advantage
69
Performance-Driven Culture
70
Transparency
70
SCOPE Situational Analysis
70
The Danger of Being Frozen in Time
71
Senior Management Interviews
72
Case Illustration: Norway-Based Power Company
72
Using an External Facilitator
73
Interview Questions
74
The Benefits of Anonymity
74
Interview Outcomes
75
Devolved Interviews
75
Purchasing Agency Case Illustration
75
A Strategic Change Agenda
76
Case Illustration: FBI
77
Parting Words
79
Self-Assessment Checklist
82
References
83
4: Strategy Mapping in Disruptive Times
85
Introduction
85
Starting with the Strategy Map
85
A Non-Agile Process
85
Writing Objectives
86
What Does Success Look Like in the Eyes of Shareholders (or Funders)?
87
What Does Success Look Like in the Eyes of Customers?
87
“To Satisfy Our Customers, and Stakeholders, in Which Internal Business Processes Must We Excel?”
87
To Achieve Our Goals, How Must Our Organization Learn and Develop?
88
Keeping Strategy Maps Focused
89
Objective Statements
89
Case Illustration: Hospital Complex
90
Consistent Interpretations
90
The Value of Strategic Themes
91
Designing Themes
91
Case Illustration: AW Rostamani
93
Constructing Theme Teams
93
Potential Downsides of Working with Themes
94
The Power of Cause and Effect
95
Age 2 Balanced Scorecard Systems
96
The Contribution of Early Pioneers
96
Classical Versus Quantum Mechanics
97
The Intellectual Capital Model
98
Interactions Between Intangible Assets
99
Parting Words
99
Self-Assessment Checklist
103
References
104
5: How to Build an Agile and Adaptive Balanced Scorecard
105
Introduction
105
Too Many KPIs
105
Agility in Strategy Execution
106
The Purpose of KPIs
106
Four Steps of KPI Selection
108
Key Performance Questions Explained
108
Case Illustration: Hospital Complex
109
Step 1: The Objective Description
109
Step 2: Value Drivers
109
Step 3: KPQs
109
Step 4: KPIs
110
Case Illustration 2: Durham Constabulary
110
The Balanced Scorecard Is Not a Measurement System
112
No “Perfect” KPI
113
De-emphasize KPIs
114
The Science of Measurement
114
The Dangers of Aggregation
115
Simpson’s Paradox
115
Trend Analysis
116
Driving “Rational” Behaviours
116
An Amusing Story
116
A Tragic Story
117
Be Careful What You Ask For
117
Identifying Rational Behaviours
117
Setting Targets
119
Precision and the Quantified Vision
120
A Target Is Not a Forecast
121
Assumption Management
122
Choosing Strategic Initiatives
122
Research Evidence
123
Steps to Prioritizing Initiatives
123
An Initiative Inventory
123
Prioritization Model
124
Parting Words
125
Self-Assessment Checklist
126
References
128
6: Driving Rapid Enterprise Alignment
129
Introduction
129
Traditional Approaches
129
Hoshin Kanri
129
Catchball
130
Thai Carbon Black Case Illustration
130
Balanced Scorecard
131
Conventional Scorecard Shortcomings
131
Identical
132
Contributory
132
New
132
Too Cascade or Not
132
An Agile Approach
133
Case Illustration: Statoil
133
Ambition to Action Explained
134
Change of Perspective Order
135
Key Lessons from Statoil
136
Team Discussions
136
Bad Practice Example
137
Departmental Success Story
137
Structure
138
Alignment and Synergies
138
Alignment: Using the Balanced Scorecard to Create Corporate Synergies
139
Strategy Maps and Diversified Organizations
139
Enterprise Synergy Model
139
Driving Out Complexity
140
Why Simplicity Matters
140
Parting Words
141
Self-Assessment Checklist
142
References
143
7: Aligning the Financial and Operational Drivers of Strategic Success
144
Introduction
144
Aligning Budgeting with Strategy
144
The Shortcomings of Budgeting
145
The Three Roles of Budgeting
146
Case Illustration: Statoil
146
Agile Financial Management
149
Killing the Budget
149
Rolling Forecasts
150
A Rolling Forecast Explained
150
Constructing a Rolling Forecast
151
Budgeting: Not a Performance Motivator
153
Linking Operations to Strategy
154
Strategically Critical Processes
155
The Dangers of Focusing on Continuous Process Improvement
155
Six Sigma Explained
156
Case Illustration: Motorola
157
Thwarting Innovation
158
Making the Strategy/Operations Link
159
Driver-Based Models
160
Case Illustration: Hospital Complex
160
Parting Words
162
Self-Assessment Checklist
163
References
164
8: Developing Strategy-Aligned Project Management Capabilities
165
Introduction
165
Not an Execution Framework
165
Professional Expertise
167
Agile Project Management
167
SCRUM
167
The Case for Merger
169
The Transformation Office
170
Transformation: A Definition
170
Core Vertical Transformations
170
Transversal Transformations
171
Transformation and Strategy
171
Measuring Impact
173
Two Types of Initiatives
174
A Portfolio Approach
174
Sub-Portfolios
175
Parting Words
176
Self-Assessment Checklist
179
References
180
9: Unleashing the Power of Analytics for Strategic Learning and Adapting
181
Introduction
181
Correlations and Causality
182
Analytics and KPIs
183
Analytics and Decision Making
183
A Data-Driven World
183
Big Data Analytics
184
A Measurement Game Changer
184
Descriptive Analytics
185
Diagnostic Analytics
186
Predictive Analytics
186
Prescriptive Analytics
186
Advanced Analytics and Strategy Management
186
Develop and Translate the Strategy
187
Align the Organization
188
Align Operations
188
Strategic Learning
188
Strategy Update
188
Customer Engagement
189
Required Capabilities
189
Leadership Commitment
190
Data Management
190
Simple Analytics
191
UK-Based Airline Case Illustration
192
Performance Reviews
193
Operational Reviews
194
Strategy Reviews
194
The Shortcomings of Colour Coding
194
Accountability at the Theme Level
195
Case Illustration: KiwiBank
195
Strategy Reports
196
A Decline in the Importance of KPIs
196
The Strategy Refresh
197
Research Evidence
198
The Price of External Failure
198
Learning and the Annual Refresh
199
Implications for the Strategy Office: Practitioner View
199
Parting Words
200
Self-Assessment Checklist
203
References
204
10: How to Ensure a Strategy-Aligned Leadership
205
Introduction
205
The Importance of Context
206
The Stories of Steve Jobs and Winston Churchill
206
Leadership for the Execution of Strategy
207
Context
208
Characteristics
209
Conditions
210
Capabilities
211
The Last Stage: Not the First
211
Palladium Model Summary
212
The Potential of the “Ordinary” Leader
212
Strategic Leadership: Research Evidence
213
Poor Change Management
213
Leadership Development
214
Agile Leadership in an Age of Digital Disruption
215
Humble
215
Adaptable
216
Visionary
216
Engaged
216
Essential Behaviours of Agile Leadership
217
Hyperawareness
217
Informed Decision Making
217
Fast Execution
217
Assessing the Models
218
Parting Words
219
Self-Assessment Checklist
219
References
220
11: How to Ensure a Strategy-Aligned Culture
221
Introduction
221
The Elephant in the Room
222
The Challenge of Culture: Research Evidence
222
Defining Culture
223
A Great Culture Is Not Necessarily a Strong Culture
223
Corporate Values
224
Case Illustration: Poor Practice Example
225
Case Illustration: Good Practice – Korea South-East Power
226
Leadership and Culture
227
The Shadow of the Leader
227
Driving Culture Change with the Balanced Scorecard
228
Cultural Assessment
229
Integrating Data
230
Parting Words
232
Self-Assessment Checklist
236
References
237
12: Ensuring Employee Sense of Purpose in the Digital Age
238
Introduction
238
Gallup Research Evidence
238
Changing the Employee-Employer Relationship
240
The End of Appraisals
241
The Views of Dr. Deming
242
The Dangers of Assigning KPIs to Individuals
242
Changing the Conversation
243
Theory X and Theory Y
244
A Sense of Purpose
244
Organizational Sense of Purpose
244
Individual Sense of Purpose
245
Deloitte Research Findings
245
Team Sense of Purpose
247
Communication
247
Essex Police Cast Illustration
249
Human Capital Development to Execute Strategy
250
Parting Words
251
Self-Assessment Checklist
253
References
254
13: Further Developments: Driving Sustainable Value Through Collaborative Strategy Maps and Scorecards
256
Introduction
256
Corporate Social Responsibility
256
Triple Bottom Line
257
Nova Nordisk Case Illustration
257
Sustainability Strategy Map
258
Shared Value
261
Shared Value Explained
261
Positive Impact
262
Networked Organizations
262
Case Illustration: Thriving Weld
263
Zoomable Strategy Maps
265
Robust Shared Measurement System
265
The Million Dollar Question: Is This Approach Creating the Desired Impact?
266
Improved Communication
266
Improved Alignment of Funders and Other Stakeholders
266
Improved Engagement and New Actions
267
Parting Words
267
Self-Assessment Checklist
269
References
270
14: Conclusion and 25 Key Strategic Questions
271
Introduction
271
Agile and Adaptive
271
25 Key Strategic Questions
272
Stage 1: How to Formulate Strategies for the Digital Age
272
Stage 2: How to Build an Agile and Adaptive Balanced Scorecard
275
Stage 3: Driving “Rapid” Enterprise Alignment
277
Stage 4: Getting Results Through Agile Strategy Execution
278
Stage 5: Unleashing the Power of Analytics for Strategic Learning and Adapting
280
Underpinning the Model
282
How to Ensure a Strategy-Aligned Leadership and Culture
282
Creating a Strategy-Aligned Workforce for 4th Industrial Revolution
283
Final Words
284
References
284
Index
285