Strategy Development & Execution using the Balanced Scorecard
Cedar is a thought leader in the area of strategy formulation and execution using the Balanced Scorecard (BSC) framework. Cedar’s heritage includes being part of the former Renaissance Worldwide, whose leadership included the creators of the BSC - the world's leading strategy execution and performance management system.
Globally, less than 10% of strategies formulated are effectively executed. The challenge most companies face is to have a robust and balanced strategic management system. The BSC operationalizes the vision and creates a system of linked Objectives, Measures, Targets, and Initiatives to help companies effectively execute their strategy. The Scorecard can be cascaded down into business divisions at operational levels to create an Enterprise-wide Performance Management System.
Cedar has completed over 300 Balanced Scorecard projects across industry sectors, thus deepening its Scorecard knowledge in addition to integrating sector knowledge into scorecard designs. In addition, Cedar has been driving innovation by designing next generation scorecards that are enabling clients to drive BSC implementation and bring strategy execution to the next level of sophistication.
Execution Excellence | Making Strategy Work using the Balanced Scorecard is a new book by Sanjiv Anand, Chairman, Cedar globally released by J.Wiley, the world’s largest publisher of business books.
Performance Management using the Balanced Scorecard
The BSC has also been actively used by CEO’s and the HR function globally to drive enterprise, but more importantly individual performance, and build a performance oriented culture.
Cedar designs individual performances measures (IPM’s), or what are also commonly called “Individual Balanced Scorecards” CEO downwards, and across the organization leveraging its 15 years of expertise in this subject. Its expertise ensures that the IPM’s motivate, not demotivate people, and are designed keeping the following principles in mind:
- Aligned to enterprise scorecards and strategy.
- 5-7 IPM’s Financial, Customer, Process & Organizational Measures per position.
- Reflecting a combination of industry specific and function specific measurements.
- Weightages of measures carefully designed across the organization, and across a function.
- Easy to understand and linked to variable compensation.
Besides designing the IPM’s for a client, Cedar also transfers knowledge to the HR function on how to maintain and realign IPM’s on a periodic basis based on changes to a business or annual plan.
Balanced Scorecard Automation using Accelerator
Leveraging over 20 years of experience in developing 400 scorecards across industries globally, Cypress, Cedar’s BI division has developed one of the world’s most innovative Balanced Scorecard (BSC) automation solutions - Accelerator. The Accelerator designed by Balanced Scorecard thought leaders (not MIS experts) allows for a rapid automation of a firm’s BSC to improve the quality of its reporting and the overall success of a BSC program to drive performance. It is IT “lite”, mobile, in-the-cloud and can be implemented within 4 weeks. The Accelerator also includes a dictionary of 2000 performance measures across industry sectors, allowing a client to leverage Cedar’s knowledge of the art and science of performance measurement unique to each industry to ensure the best measures are being selected to drive performance. The solution manages not only multiple enterprise scorecards, but can also manage individual scorecards or IPMs.