Cedar conducts a thorough internal analysis to understand your requirements and goals, and takes an inventory of strategic initiatives currently running within the organization. We’ll also organize a detailed review of internal documents and data across financial, customer, process, organization, and technology functions as part of our holistic current state assessment. To set up your Balanced Scorecard program for success, we’ll collaborate with you to clearly define your project objectives, desired approach, and indicative timelines.
Key Stakeholder Interviews
To inform our internal analysis, Cedar consultants will hold select one-on-one interviews with key executive and management leadership at the corporate and divisional levels. We hold these discussions to better understand your vision, processes, and gain a critical insight into organizational strengths, weaknesses, and any areas for concern.
Leveraging our best-in-class primary and secondary research capabilities, we’ll assess the external business context through global benchmarking exercises, as well as market and competitor data analysis, to determine existing challenges and potential risks, as well as identify opportunities.
Corporate Strategy Map Design
Our consultants, well-equipped with in-depth knowledge of your organization, will collaborate with your team to develop an initial model of the strategy map. This exercise involves detailing all strategic objectives, as well as their corresponding owners and measures, to arrive at a map that is comprehensive and aligned with the overall business plan.
Strategy Map Workshop and Finalization
Guided by our summary documents and pre-final strategy map, we’ll conduct a best-in-class Balanced Scorecard workshop with your leadership team. In close collaboration with management, we’ll review the strategy map and corresponding measures to finalize a set of lead and lag measures with clearly defined units, frequency, and ownership.
Balanced Scorecard Strategy Implementation
Cedar offers its expert guidance in implementing the finalized Balanced Scorecard at the corporate level and cascading it down to all other levels of the organization. As part of our approach, we develop and execute a highly effective communication strategy to ensure key themes and implications of the strategy map are understood enterprise-wide.
Our consultants also leverage their extensive experience to assist you in target setting, including the methodology for setting easy, realistic, aggressive, or stretch targets. In addition to this, we’ll collaborate with your team to establish the optimal reporting framework for your organization and clarify key roles, including your appointed internal Balanced Scorecard Coordinator.
Balanced Scorecard Coordinator Training
In the final phase of the program, Cedar conducts a half-day training workshop for your internal Balanced Scorecard Coordinator. Using our proprietary training documents — which you’ll have unlimited access to — we’ll prepare you and your team for friction-free application of the Scorecard across the organization.