The balanced scorecard is a revolutionary management tool that has transformed the strategy execution and strategic human resource management in many organizations. A system that helps a firm to set its key strategies right is reportedly being used by not less than 70% of businesses to achieve their strategic goals. Any [...]
Performance Management ensures assessment of progress towards the predetermined goals, encompassing important facets such as performance parameters communication, agreement, and performance facilitation. The following generic steps would help most organizations to develop a strategic human resource management system. Performance Planning Development of 3 years rolling business plan Splitting the business plan [...]
Values are an intrinsic part of every organization. They influence an organization’s culture and environment. These values are responsible for creating the workplace you desire. But are the current values in line with your organization’s goals and do they complement your mission and vision? If the prevailing values do not [...]
A strategy consultant is a highly skilled and seasoned ‘management pundit’ who can advise on the strategic measures and provide a direction for an organization to grow. Companies seek a consultant so as to receive an expert guidance on matters which require exceptional prowess in a particular area. These consultants [...]
One of the major challenges faced by scholars over the years has been about formulating the exact definition and goals of talent management. As Lewis and Heckman (Authors – Talent management: A critical review) put, “There is a disturbing lack of clarity regarding the definition, scope and overall goals of [...]
As the organization begins to grow rapidly, it typically starts bagging multiple projects, investing in machineries, innovating their services and products and even acquiring new businesses. And while Business Leaders are busy relishing speed of growth, sometimes a critical fact eludes them. Which is, in addition to the Marketing and [...]
Many business leaders may have a fair idea of how a strategic facilitator can provide the much-needed impetus to make your mark. However they may not have observed concrete proof of its results, and hence naturally there is a tendency to work out the strategy formulation related initiatives and exercises [...]
By definition, a strategic plan is developed by the CEO’s and rest of a Company’s top management. But the irony of the fact is that the heads who are meant to be doing this are the ones who are usually caught up dousing the fires of everyday operations. As such, [...]
Companies, who are focused on their trajectory of growth, don’t give strategic planning a second thought. They know from experience that strategic planning is mandatory to accelerate growth. Apart from themselves, they have seen others too – companies that have leveraged the power of strategic planning for a fresh and [...]
What is Balanced Scorecard? The Balanced Scorecard is a business framework for tracking and managing an organization’s strategy. Based on the balance between leading and lagging indicators, the framework tells us about the gap between the company’s drivers and its desired targets. Are you meeting your goals? Are you on the right track [...]
