Harvard Universal Press
|Number of Pages
Business & management
In a world of stiffening competition, business strategy is more crucial than ever. Yet most organizations struggle in this area--not with formulating strategy but with executing it, or putting their strategy into action. Owing to execution failures, companies realize just a fraction of the financial performance promised in their strategic plans. It doesn't have to be that way, maintain Robert Kaplan and David Norton in The Execution Premium. Building on their breakthrough works on strategy-focused organizations, the authors describe a multistage system that enables you to gain measurable benefits from your carefully formulated business strategy. This book shows you how to: Develop an effective strategy--with tools such as SWOT analysis, vision formulation, and strategic change agendas. Plan execution of the strategy--through portfolios of strategic initiatives linked to strategy maps and Balanced Scorecards. Put your strategy into action--by integrating operational tools such as process dashboards, rolling forecasts, and activity-based costing. Test and update your strategy--using carefully designed management meetings to review operational and strategic data. Drawing on extensive research and detailed case studies from a broad array of industries, The Execution Premium presents a systematic and proven framework for achieving the financial results promised by your strategy.
About the Author
Robert Kaplan and David Norton are best known as the originators of the Balanced Scorecard, a strategic management tool that links a company's current actions with its long-term goals. The Balanced Scorecard is one of the most successful and widely used management tools in the world.
Kaplan is Baker Foundation Professor at Harvard Business School. Norton is the founder and director of The Palladium Group, the US based organizational strategy consultants.
Kaplan and Norton first brought the balanced scorecard to the attention of the managerial masses in their Harvard Business Review article, "The Balanced Scorecard?Measures that Drive Performance," (1992). Since then, they have written numerous books together focusing on aspects of the balanced scorecard concept. These include The Balanced Scorecard: Translating Strategy Into Action (1996); The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment (2000); and Alignment: Using the Balanced Scorecard to Create Corporate Synergies (2006).
Their most recent book is Execution Premium: Linking Strategy to Operations for Competitive Advantage (2008).
As well as the Balanced Scorecard, Kaplan co-developed the concept of activity based costing, and is currently applying this approach to health care with his Harvard colleague, Michael Porter (see their article, ?How to Solve the Cost Crisis Health Care,? in September 2011 Harvard Business Review).