Corporate Strategy Implementation

Norton and KaplanThe business model is the baseline for any strategy. A clear vision was behind the success of great companies: Vision on Nike in 1980 was “Crush adidas”, Vision of Sony after Hiroshima and Nagazaki was “Going to elevate the whole Japanese Culture”. Not only the vision but also the mission, knowing why I am here and why I exist was the cornerstone of great companies: The Mission of Merck was ” Advance the health of human beings” and Profits will come will come. After the vision and Mission, its critical to have clear objectives and strategies (Cost Leader, Differentiator, etc ) using EFE, PESTEL, CPM, SWOT, BCG matrix and VRIO model. Finally, if you have a great strategy and you don’t know how to execute, as if you don’t have a strategy. Norton and Kaplan studied companies and came up with the following results “90% of companies failed because they dont execute” and came up with the Balance scorecard (Looking inside and outside the companies)composed of 4 main indicators:
1- Financial Indicators
2- Customers
3- Internal Processes
4- Employees (Learning and Growth)
Final Project: Setting the balance score card for the departmenet I work for in Ericsson including the financial, customer, internal processes and employees KPIs.

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About Sultan

Senior Technology Architect with 10 years of experience in Europe, Asia, Africa, Australia, North and Latin America.
This entry was posted in Balance Scorecards, Corporate Strategy. Bookmark the permalink.

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