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Achieving Strategy through Balancing Competing Values
The primary goal of any business is to increase stakeholder value. It is achieved through a dynamic
balancing of
competing values. In order for a business to maximize economic value, it
must balance customer satisfaction and competitive market forces with
internal cost and growth consideration.
Find the Balance
Balance
is a key element of a
happy life
and
sustainable business.
Balance is about how you live your life and manage your
business and people.
Finding the right balance in your your life and your
business will help you refine your goals and hasten you towards them.
What is Business Systems Approach?
A business is more than finance. Performance measures need to
be aligned with the organization's strategy.
The Business Systems
approach considers business as system of interrelated factors of
strategy,
owners, investors, management,
workers, finance,
processes,
products,
suppliers,
customers, and
competitors.
Organizations prosper by
achieving strategy that is
implemented as a result of continuous
decision-making at all levels of the business. Firms implement strategy through balancing the four major factors or perspectives:
-
Financial perspective
-
Customer perspective
-
Internal
business process perspective, and
-
Learning,
innovation, and growth perspective.
The four perspectives permit a
balance between short-term and
long-term objectives, between outcomes desired and the performance drivers
of those outcomes, and between hard objective measures and soft subjective
measures.
B alanced Organization:
5 Basic Elements
Leadership
(Fire):
Systemic Approach to
Innovation
Until recently innovation has been seen principally as the
means to turn research results into commercially successful products, but
not all research leads to innovation and not all innovation is
research-based. Today,
innovation is systemic. It arises from complex interactions between many
individuals, organizations and their operating environment. Firms which are
successful in realizing the full returns from their technologies and
innovations are able to match their technological developments with
complementary expertise in other areas of their business, such as
manufacturing, distribution, human resources,
marketing, and
customer service...
More
Customer Perspective
Customer Success 360
Customer is defined as anyone who receives that
which is produced by the individual or organization that has value. A
customer focus - as opposed to "customer driven" or "market driven", - both
internal and external, implies that you don't just respond to what customers
say they need and want, but you apply your own body of knowledge acquired
from years of experience and study, in addition to your best knowledge of
the customer, to deliver a product or service that will exceed customer
expectations, achieve delighted customers and lead to customer success.1
Creating Customer Value
The Growing Role of the
Business Architect
Today's companies need
business architects
who can take a
systems view of a business and build
synergies.
Business
architect is a person who
initiates new business ventures
or leads
business innovation, designs a
winning
business model, and builds a
sustainable
balanced business system for a
lasting success...
More
Balanced Scorecard
The Balanced Scorecard
is a framework for designing a set of measures for activities chosen by you
as being the key drivers of your business.
By having four distinct
perspectives (financial, customer, internal process and innovation and
learning) it promotes a more holistic view of the business.
The Power of Balance...
Systems
Thinking...
Your
Cross-functional Excellence...
Inclusive Company...
Balancing Dynamic Organizational Dichotomies...
Systemic
Innovation...
Corporate Innovation System...
Delivering Balanced
Results through Coaching...
Practical Guidelines
for Conducting Knowledge Management in SMEs...
Links Between
Individual Learning, Collective Learning and Ethics...
Systemic Innovation...
Continuous Innovation Strategy...
Customer Success 360...
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