Successful Strategy Execution-Part I: What Does it Look Like?
Robert Kaplan and David Norton have written extensively about how organizations can use the Balanced Scorecard (BSC) as the central organizing concept for an integrated strategy management system. In this two-part article (Part II will appear in the March-April issue), Norton shares his latest thoughts and observations about how the most successful adopters of this management tool-members of the Balanced Scorecard Hall of Fame-use this approach to achieve improvements in financial performance. Norton explores the role of execution measures-and achievement measures-within each of the four BSC perspectives. He also provides a detailed discussion of the role of these measures in both the financial and customer perspectives. In Part II, Norton will complete this analysis for the process, and learning and growth perspectives. A case example based on Minor Food Group accompanies this discussion.