Mihai Ionescu - Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author Although this is not a new topic, we still see from time to time people asking questions about how to integrate the Strategic Performance and Risk. Rather than presenting all sorts of principles and theories, we'll take a more applicative and hands-on approach. Take a look at the diagram below (a picture worth a thousand words :) You can find the slide on Issuu (.pdf) at http://issuu.com/mih

Mihai Ionescu, Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. This is the second part of this article. You can read the first part here. The BSC Knowledge & Know-how Quick Wins Even before the Strategy Management System based on the BSC framework goes live, there are a significant number of Knowledge & Know-how Quick Wins that are harvested before or during the implementation project. This article is focused on this type of Balanced Scorecard Quick Wins

Mihai Ionescu, Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. The BSC Adoption Quick Wins Once implemented, the Strategic Management System based on the Balanced Scorecard framework produces significant & effective results within 1-3 years. However, the implementation provides several important Quick Wins, or 'low hanging fruits' if you like, immediately after the system goes live (within the first several months after launch). To name just a few: Impro

I have to admit that I'm a little fed up of seeing the question 'What is Strategy?' pop-up, directly or indirectly, in all sorts of articles, forums and blog posts or comments. Maybe you feel the same. And it's not that much about the definitions of the Strategy, as some of them are quite good (two examples given below), in their quest for the balance between brevity and relevance. The trouble is the confusion we often see between concepts (or Strategy building blocks) and st

Mihai Ionescu, Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. During several BSC implementation projects, I've been asked this very interesting question: 'What do we do with the achieved Objectives?' 'We keep them on the Strategy Map, together with the other Objectives' was the default answer. But is this the correct one? Let's look at the diagram below. So, we normally put the Objective P2 on the Strategy Map for the duration of the planning & executio

Mihai Ionescu, Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. As we continue to see debates, in various forums or blogs, about how should we use Lead & Lag KPI Measures for calculating strategic Objective's status and, on the other hand, as discussions about calculating the status of Driven Objectives based on the contribution of their Driving Objectives are rare, we'll use this article to clarify these topics. Operational Objective's Status This is a s

Mihai Ionescu - Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. Strategy is defined at the intersection of two critical dimensions: Where-To-Play and How-to-Win there. If you didn't have the opportunity to listen Prof. Roger Martin presenting the Strategic Choices concept, or to read his reference book Playing to Win (Harvard Business Review Press, 2013, co-authored with A.G. Lafley), please invest a few minutes in listening to this quick introduction: T

The Role and Use of Matrices in Strategy Execution

Mihai Ionescu - Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. This is a short one, but for many fellows in need of a logical argument, it may come handy. It's certainly useful for me, as I encounter again and again people trying to solve major, strategic problems by attempting all sorts of tentative solutions, until they reach the right one. Finally. The Trial & Error Approach In many managerial roles, we have to solve problems, fight fires in the most

Mihai Ionescu - Senior Strategy Consultant, Owner Balanced Scorecard Romania, Author. Although PwC's Strategy& (formerly Booz & Company) claims a certain level of thought leadership in regard to the Capabilities-Driven Strategy, the concepts of such strategy model is widely spread throughout the business executives' and management consultants' community, world-wide. The Capabilities System While Strategy& consultants explain, in simple terms, that the Core Capabilities cannot