Review of the prioritization frameworks that help to make data-driven strategic choices by defining a priorities model and calculating priority score. In strategic planning, prioritization starts with defining the high-level strategic themes that work as pillars for the rest of the strategy. What about making choices on lower levels? After using the strategic themes as … Read more
Corporate governance is a set of rules and practices employed to control an organization and build a sustainable business. In this article, we’ll discuss the ways to quantify and measure the effectiveness of a typical corporate governance system with some performance indicators. Corporate Governance Structure A typical corporate governance structure1 is formed by the board … Read more
PESTEL framework is one of the popular strategy planning tools, it helps organizations to conduct an analysis of the external factors. In this article, we’ll show how a PESTEL template can be used to formulate strategic hypotheses and present them on a strategy map. Here are the key topics of the article: Acronym and its variations … Read more
Use a template discussed in this article to conduct Pareto analysis for a strategy. Focus execution efforts on the strategic goals and performance indicators according to their absolute weight. Here are the key topics of the article: Introduction – Pareto analysis and strategy. Template – Pareto analysis on the Strategy Map Hard data – quantitative … Read more
There are a number of business frameworks that can be applied during the strategic planning process. Let’s analyse the differences between them, their advantages and application areas. Comparative Table of Strategic Planning Frameworks The table below shows where each framework contributes most to the strategic planning process. Strategic Planning Tool Step 1. Mission, Vision, Values … Read more
The main focus area of VRIO analysis is the internal resources and capabilities of an organisation. Learn what VRIO analysis is and how to use its results during strategic planning sessions. Introduction to VRIO Practical comments on VRIO Steps to apply VRIO for strategic planning Example of VRIO for users of BSC Designer The Role … Read more
Upgrade the classical SWOT framework with “S” – strategy component. Generate business insights and map them directly on the strategy map. Navigation: Classical SWOT SWOT+S: SWOT+Strategy SWOT+S: Use Example + Template Explanatory Video SWOT: Advantages and Disadvantages What is SWOT? SWOT analysis doesn’t require any introduction – the classical four (Strengths, Weaknesses, Opportunities, and Threats) … Read more
Use gap analysis for the regular review of your strategy execution process: compare reality vs. expectations and plan corrective actions. Introduction: concept origin, visual picture Gap analysis template Gap analysis best practices Example of the gap analysis Prerequisites: Have Your Strategy Map Ready In this article, we’ll talk about the application of gap analysis to … Read more
Any business framework has its area of recommended application, its advantages and drawbacks. In this article, we’ll discuss where the Balanced Scorecard framework wins and where it’s not that intuitive. Quick navigation: Advantages | Disadvantages Balanced Scorecard Advantages Where the Balanced Scorecard Wins. I’m listing below some advantages of the properly implemented K&N Balanced Scorecard … Read more
Learn how to use McKinsey’s Three Horizons Model for top level planning of business growth and innovation. Before, we discussed strategy map as a framework for the articulation of the innovation strategy. What about other popular frameworks? They certainly help to organize high-level thoughts about innovations and formulate a bird’s-eye view on a company’s innovation … Read more