Oct 23, 2017 | Strategy Execution

A few weeks ago, I was asked by one of my clients if I could help her company with strategic planning. My answer was, “Yes and no.”

Like many of today’s organizations, this team was already suffering from initiative overload. Without a system for tracking business critical and mission critical goals, their strategic plan was doomed to fail. I explained that, “Yes, I would be happy to help your team create a strategic plan, but only if I can also help them put a system in place to help them execute that strategy.”

This is the season of the year where many of us are busy working on strategic plans. For some, those plans get shelved in favor of jumbled priorities and unfinished initiatives. For others, the goals that come out of the plans get added to the already impossibly long list of projects our overloaded teams are already working on. Either way, if we don’t have a process to turn our most important goals into an executable strategy, our plans can be pronounced dead on arrival.

Don’t let this happen to your organization. Instead, track your strategic goals with a performance management system like a Balanced Scorecard. First developed by Robert Kaplan and David Norton in the late 1990’s, today’s Balanced Scorecard platforms help organizations of all sizes and in every industry turn strategy in executable goals in four important ways:

  1. Communicate the business critical and mission critical goals the organization is trying to accomplish.
  2. Align the day-to-day work that everyone is doing with strategic goals.
  3. Prioritize projects, products, and services.
  4. Measure and monitor progress toward strategic targets.

The system connects the dots between big picture strategy, operational goals, and key performance metrics. I have my favorite balanced scorecard platforms, but one-size does not fit all. Check out this site for options that may work for your organization, and ensure that your strategic plans get executed in 2018!

Question: What is your organization doing to manage initiative overload?

 

Bonus! Download our simple, FREE strategic planning template here – a framework to help you measure organizational performance beyond key financial metrics.

 

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