Related Experiment Videos
Mastering the management system.
Robert S Kaplan1, David P Norton
1Harvard Business School, Boston, USA. rkaplan@hbs.edu
Harvard Business Review
|February 15, 2008
Summary
Effectively managing business strategy and operations requires a closed-loop management system. This five-stage system links strategy development to operational execution and continuous performance review for adaptive strategy updates.
Area of Science:
- Business Management
- Strategic Planning
- Operations Management
Background:
- Balancing operational demands with strategic priorities is a persistent challenge for companies.
- Effective strategy execution is crucial for business success, yet often hindered by operational limitations.
Purpose of the Study:
- To present a closed-loop management system for effectively linking strategy and operations.
- To provide a managerial toolkit for successful strategy execution and continuous improvement.
Main Methods:
- The proposed system involves five stages: strategy development, translation into objectives and initiatives using strategy maps and balanced scorecards, operational planning, execution and monitoring, and strategy testing.
- Utilizes tools like strategy maps, balanced scorecards, and dynamic budgets for planning and performance tracking.
- Incorporates analysis of operational, environmental, and competitive data for assessment and strategy refinement.
Main Results:
- The closed-loop system facilitates tight integration between strategic goals and operational activities.
- Managers can monitor performance, identify execution barriers, and test strategic assumptions.
- The system enables adaptive strategy updates based on performance analysis and changing conditions.
Conclusions:
- The described management system offers a comprehensive blueprint for aligning strategy and operations.
- It empowers managers with a practical toolkit for enhancing strategy execution and achieving business objectives.
- Continuous feedback loops are essential for adapting strategy and ensuring long-term success.
Related Concept Videos
01:10Control Systems
Control systems are everywhere in contemporary society, influencing diverse applications from aerospace to automated manufacturing. These systems can be found naturally within biological processes, such as blood sugar regulation and heart rate adjustment in response to stress, as well as in man-made systems like elevators and automated vehicles. A control system is essentially a network of subsystems and processes that collaboratively convert specific inputs into desired outputs.
At the heart...
At the heart...
01:19Managing Impressions
Impression management encompasses individuals' deliberate efforts to shape how others perceive them during social interactions. This behavior is often employed to conform to social norms, secure approval, or pursue specific goals. While it involves selective self-presentation, it is not necessarily deceptive; individuals frequently present authentic aspects of themselves that align with situational demands.Common strategies include:Ingratiation: where individuals use flattery or agreeableness...
01:20Mason's Rule
Mason's rule is a powerful tool in control systems and signal processing. It simplifies the calculation of transfer functions from signal-flow graphs. This method leverages various elements, including loop gains, forward-path gains, and non-touching loops, to determine the transfer function efficiently.
Loop gain is determined by identifying and tracing a path from a node back to itself. This involves computing the product of branch gains along the loop. Each loop's gain is crucial for further...
Loop gain is determined by identifying and tracing a path from a node back to itself. This involves computing the product of branch gains along the loop. Each loop's gain is crucial for further...
01:29Impression Management Techniques I: Managing Appearances
Appearance is a multidimensional aspect of self-presentation that encompasses observable attributes such as clothing, grooming, speech, and nonverbal behavior. These elements are often strategically managed to align with socially constructed expectations in different settings. For instance, individuals tailor their appearance during job interviews, social gatherings, or athletic events to meet the perceived norms of those environments.Contextual Adaptation and Social SignalsThe research...
01:25Control Systems: Applications
Electrical engineering plays a pivotal role in our daily lives, with control systems at the heart of many applications, from home appliances to sophisticated space shuttles. Control systems manage and regulate the behavior of devices and processes, ensuring they function safely, correctly, and efficiently.
In modern vehicles, control systems manage various functions to enhance performance and safety. The steering wheel and accelerator are primary inputs in a car's control system. The direction...
In modern vehicles, control systems manage various functions to enhance performance and safety. The steering wheel and accelerator are primary inputs in a car's control system. The direction...
01:15Methods of Documentation VI: Case Management Model
The case management model is a multidisciplinary approach that involves healthcare professionals from diverse disciplines, such as physicians, nurses, therapists, social workers, and pharmacists, working collaboratively to address the various needs of patients. Each healthcare professional brings unique expertise and perspectives, contributing to a more comprehensive understanding of the patient's condition and tailoring treatment plans accordingly.
For example, a patient with a chronic illness...
For example, a patient with a chronic illness...