I want to share two useful tools I believe will be helpful as you pursue the development of your strategy. The first is a simple, yet sophisticated Performance Measurement tool and is designed to meet the performance measurement and reporting needs of the business. The second is a template on how to conduct effective strategy review meetings.
Some of my colleagues have asked why am I promoting other companies’ products and services, especially a DIY on Strategic Planning (the second tool mentioned in detail below), which is what I charge companies to do for a living. My rationale is simple. If you want to try Strategy Development on your own, to learn the basics, and become familiar with the concepts and principles, I believe that exercise will make you a more educated Client when you reach the realization that Strategy is the single most important topic in your business.
At that point, I’m making the wager that you will research the ways an expert in Strategy Formulation can assist in extracting the best strategy possible for your business. That said let’s look at these tools …
The first is the Balanced Scorecard software that Ted Jackson & Dylan Miyake and their team at ClearPoint Strategy software has developed to improve performance management through better reporting and performance measurement. Jackson previously worked for Palladium Consulting, which was founded by Balanced Scorecard co-creator Dr. David Norton. You can view a demo of the software at this link: https://www.clearpointstrategy.com/free-trial
I’ve shared with you before that I had the opportunity to sit with Robert Kaplan during an executive education course at Harvard on Driving Corporate Performance. Kaplan & Norton’s Balanced Scorecard (BSC) is the de facto benchmark in performance management and reporting. ClearPoint provides you with a proven, time-tested methodology used in countless organizations around the world to easily link your objectives, measures, and initiatives. If you used a variation of the Kaplan & Norton scorecard, ClearPoint can easily handle that as well.
Version control issues, disorganized data entry, and misappropriated time can leave your scorecard in disarray. In fact, 9 out of 10 strategies fail at execution—but with the right tool in place, you’ll be the one that gets it right. ClearPoint’s easy-to-integrate software allows you to automate your reporting process and present the outcome in your desired format in no time.
As I mentioned earlier, the second is a free download of “How to Lead Effective Strategy Review Meetings”, also from ClearPoint so you can download it when you visit their site to see the demo.
As you will often hear me repeat, if you want to improve performance in your organization, it all starts with strategy. Strategic objectives are vital to the success of your organization’s future. But, unfortunately, nearly 90% of organizations that set bold strategic goals fail to execute.
If you want to increase the odds of success, then you need to have effective and regular strategy review meetings. You’ll need leadership buy-in, and you’ll need to practice some specific steps. There are five stages of holding an effective strategy review meeting: defining the process, meeting preparation, the meeting itself, follow-up, and maintaining momentum.
The free download provides an extensive overview of the Strategic Planning (Review) process. Once you are familiar with the subject, it’s time to seek out an expert to assist in the development of your organization’s Strategy.
For more than two decades, Greg Pilkington has focused on assisting senior executives address their most complex core business issues. He has led talented professionals dedicated to delivering smart insights and innovative solutions to their clients -- giving clients the confidence to win in today’s complex and dynamic global landscape.