Editorial Reviews. About the Author. Robert S. Kaplan is the Baker Foundation Professor at the site Store; ›; site eBooks; ›; Business & Money. by Robert S. Kaplan, David P. Norton. 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. Read "The Execution Premium Linking Strategy to Operations for Competitive Advantage" by Robert S. Kaplan available from Rakuten Kobo. Sign up today and.
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The Execution Premium: Linking Strategy to Operations for Competitive Advantage. Format. Ebook, Hardcover Book. The execution premium: linking strategy to operations for competitive advantage. Edition/Format: eBook: Document: EnglishView all editions and formats. The execution premium: linking strategy to operations for competitive advantage by DAISY for print-disabled Download ebook for print-disabled (DAISY).
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Review and Analysis of Kaplan and Norton's Book
The Execution Premium: Kaplan David P. Save Share. Format Ebook Hardcover Book. Language English English. Number of Copyright Permissions. Language English.
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downloading for your team? Add to Cart. August 04, In a world of stiffening competition, business strategy is more crucial than ever. Related Topics:.
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How to Download. Summaries and excerpts of the latest books, special offers, and more from Harvard Business Review Press. Sign up. Signed up. The fundamental challenge I have is that "The Execution Premium" is all head - analytical and financial with little to no discussion of the heart - how things actually work.
The following quote sums it up from my point of view "The most successful Balanced Scorecard implementations have occurred when organizations skillfully melded the intrinsic motivation emanating from its leadership and communication program with the extrinsic motivation created by aligning personal performance objectives and incentive compensation. For any one who has seen one manager optimize their function at the expense of all others, or those how feel that the "beatings will continue until moral improves, you know that sustainable execution requires more than lining up metrics on a piece of paper.
Chapter 1: Introduction - provides an overview of the challenges associated with strategy formulation and creation. Here they outline their basic process for strategy formulation and deployment 1 Develop the strategy 2 Plan the strategy 3 Align the operations with strategy 4 Plan Operations 5 Monitor and Learn 6 Test and adapt the strategy. It's a good closed loop process - with the strategy as the primary object of the process.
The rest of the chapters deal with each of these steps. The chapter ends with saying that this process is the responsibility of a new construct called the Office of Strategy Management Chapter 2: Develop the Strategy - is the details in first step of the strategy setting process. This is a good framework and the case study support is comprehensive. The issue is that these are all discussions of how people have made strategies in the past - in an environment of predictable or foreseeable change.
This is not the environment we are heading into, so it would have been good to see the strategy based on some latest proven best thinking rather than the strategy frameworks that are dominant for the past 20 years or so.
Chapter 3: This is a top down corporate driven process as it is performed by executives at the center.
The examples are good and illustrative, but they also show the vertical thinking that dominates this approach head and the relative limited understanding of horizontal coordination and end-to-end implications heart.
Chapter Four: Strategic Initiatives is based on a traditional view of corporate controlled transformation and organization. The initiatives break out into separate work streams whose plans and budgets all have to reconcile back to the core strategy - this is the decomposition issue mentioned above. The strategy deployment model discussed on page - is very traditional and corporate centric. Chapter Five: Aligning Organizational Units and Employees is critical, but it's largely assumed to happen through aligning performance measures rather than the means to achieve those measures.
The center controls all is best illustrated by the following quote "Corporate headquarters is like the coxswain in an eight-rower shell If you are in the corporate center you agree heartily, but if you are on the line, the view may be stretching reality.
Chapter Six: Plan Operations - Align process improvement programs should be the heart and meat of the book and to some extent it is. There is a discussion of the planning process, which again is based on cascading from the top. The chapter does not tell you how you change operations to achieve strategy in a coordinated way. Chapter Seven: This is the best part of the book, with some new ideas and great examples. Unfortunately again it's a financial metrics decomposition focus, which is necessary but not sufficient on its own to achieve an execution premium.
Chapter Eight: Operational and Strategy Review Meetings is a good chapter and recognizes that strategy is a living breathing thing that needs to be marked to the market and market conditions. This is a welcome chapter to help structure these meetings and not have them turn into rebudgeting sessions. Chapter Nine: If you are still reading this review, thanks and I hope you can see why this book is great for the strategist and less effective for the operational manager who needs to execute the strategy.
The book ends with a discussion of the office of strategy management -- a corporate function that embodies the process that is discussed in this book. In that regard I am concerned about objectivity as the book is written to show all the work that needs to be done, begs the question who will do it, says that its the OSM that will do it and does not disclose that one of the authors consulting companies trains and certifies people to be in the OSM.
I am not sure that centralizing these tasks into yet another corporate - non-operating function is the right idea and the commercial incentive implicit in the recommendation needs to be taken into consideration.
It is not a huge deal, but something that the reader needs to understand and be aware of in terms of a bias. Professor Kaplan and Dave Norton once again prove that they understand and appreciate the systemic nuances of business and the value premium of not only having a good plan but marshalling the resources human and economic needed to execute and deliver on a plan's promise. Bob Kaplan and David Norton's enthusiasm for work done well is palpable throughout this latest Balanced Scorecard book.
I was introduced to the Balanced Scorecard a decade and a half ago in an early Harvard U. They have never rested on the laurels of a fantastic business idea and continue to advance and refine the Balanced Scorecard system. As a student and practitioner on themes like Activity Based Costing, Productivity, the Balanced Scorecard and Strategy, I want to praise the clarity of Dr Kaplan in combining and linking the strategy all the way down to the scorecard of the organization.
In his book "The Execution Premium" he takes the reader step by step to understand the link between the strategy frameworks to its execution.
It is a perfectly designed management system that shows the relationship of very important decisions such as: Develop people and technology as to have a competitive team; Encourage Analytical approach to understand processes and data driven decisions; Develop management leadership to provide vision and alignment; Understand that everything we do in the organization is determined solely by our customers and finally to teach everyone in the organization that a primary objective is to create value.
The Execution Premium will help any manager to successfully execute strategies and allocate resources to those paths which will create maximum value.
site Edition Verified download. This book is an excellent summary of the approach to strategic management professors Robert Kaplan and David Norton.
The book suggest a central planning, top-down approach to strategy formulation and implementation that may work well in Soviet Russia, but honestly disconnected with reality of today's chaotic, innovation driven, and dynamic companies. Tech companies especially need to avoid this type of philosophy Henry Mintzberg's "Rise and Fall of Strategic Planning" does a good job of revealing pitfalls of the approach suggested in this book.
What disappoints me most about Kaplan's "Strategy Map" is its lack of specificity on actually exposing the company's strategy - content in a strategy map is so vague and broad it could describe any company out there. For example a strategic process is to "assure operations are efficient and effective. Is any company going to describe the opposite?
The Execution Premium: Linking Strategy to Operations for Competitive Advantage
In other words, the strategy map fails to communicate what we are NOT doing Throughout all these years, they never questioned their own reasoning or admitted limits to their ideas, although each new book incorporated new ideas into their framework and simply said that their framework works with those new ideas In reality, there's a lot of self-conflicting ideas in here.
Try to implement using this and you'll see for yourself. It is an excellent book that help you in the process of developing the strategy and communicate it in a very simple form. With the use of BSC, the strategic maps could be linked to operations with specific measurements for each goal so you can follow up. As director, it is an excellent tool to execute the strategy in the operations of any business.
One person found this helpful. The book is more clinical than I like but it offer good structure for strategic planning. See all 40 reviews.
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Converting Intangible Assets into Tangible Outcomes. Translating Strategy into Action. Strategy Beyond the Hockey Stick: Chris Bradley. KPI Checklists: Practical guide to implementing KPIs and performance measures, over 50 checklists included.
Bernie Smith. Customers who viewed this item also viewed. Balanced Scorecard Success: The Kaplan-Norton Collection 4 Books. Balanced Scorecard Evolution: Paul R.Each unit was successful, earning a dominant position in all the major markets LGC served. Be a leader in improving children's health through our integrated health system; becoming a preeminent voice for children.
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Meetings use the BSC to communicate priorities and report on performance, including the status of strategic initiatives. Companies use sophisticated analytic tools to review the performance of their strategies, including customer relationship management software and analytic modeling to capture and profile customer behavior.
The company knows the cost of supplying each unit of resource. Competitive Strategy: Ricoh U.
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