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    Want to improve the odds of strategy execution? Ask any executive that question and they're certain to nod in enthusiastic agreement. Well, I have one piece of can't miss advice that will ensure you beat the oft-cited statistics of execution failure. Here it is: Have a well-understood strategy and communicate it widely.

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    An enterprise-level Balanced Scorecard is owned by the senior team (which is responsible for strategy). To create a high level Scorecard and formulate a robust plan for strategy implementation, the initiative needs to take into consideration the people-related elements that need to be addressed at the very outset. This article, structured in a Q & A format, answers the question ‘What is the role of the HR function in creating an enterprise-level Balanced Scorecard?’

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    This article reviews a report that studies the practices of Fortune 50 companies in reporting to the investment community their performance in the area of human capital management.

    Successful strategy execution and financial results depend on the components that make up the non-financial performance parameters, such as human capital. Given its origin as a framework that was designed to help businesses look beyond financial performance, the Balanced Scorecard is seen as a powerful tool for communicating to the investment community how non-financial performance impacts financial results and the likelihood of successful strategy execution. Since the concept is in infancy, the use of the Balanced Scorecard for this purpose has thus far been an exception rather than the norm. Hence, one sees that components such as human capital development are poorly represented in external reporting.

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    When it comes to answering the all-important strategic question of "What is our value proposition?" I’ve always believed any private, public sector or nonprofit organization should choose one of three possibilities: operational excellence (resulting in low costs), product leadership (best product, often achieved through constant innovation), or customer intimacy (best service/best relationship).

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    The old saying that the only constant in today’s world is change never seemed more appropriate than it does right now. We’re witnessing volatile swings in everything from the weather to the stock market. In this article Paul offers advice on how you can embrace the extreme changes you face by employing an innovative 'observe, measure, and react' strategy.

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    During a recent international speaking tour, I had the opportunity to chat with CEOs in a number of countries on issues impacting them, including: the business climate in their region, the opportunities they foresee, and the challenges on the horizon.  

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    Yesterday my clock radio came to life at precisely at 6:15 a.m., just as I had instructed it the night before. Instead of an alarm - who wants to be jolted awake by a jarring buzz next to your head - I was awakened by what some would consider equally as jarring - the frenzied chatter of a morning radio team. As I was easing into consciousness the station's entertainment reporter listed the celebrity news of the previous weekend. At one point she mentioned that singer Hilary Duff became engaged to Canadian hockey player Mike Comrie, who popped the question while the two were vacationing in Hawaii. After some lighthearted banter on the topic the DJ asked whether Comrie was part of the Olympic team that was currently playing in Vancouver. His question struck me immediately. "Wasn't he listening?" I mumbled to myself. She said Comrie had proposed in Hawaii so it would be pretty tricky to plan a romantic escape with your girlfriend while simultaneously battling for a gold medal 2,700 miles away.
     

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    During Scorecard consulting engagements one of the greatest challenges I see my clients struggling with is their desire to find the ‘perfect' measure for every objective on their Strategy Map. Never satisfied with the results of extensive brainstorming and endless debate among their colleagues, many continue to strive for that one holy grail of a measure that will bring perfect clarity and insight to their pursuit of strategy execution. For some the level of frustration eventually reaches a boiling point, inevitably expressed with some form of the sentence, "You just can't measure what we do!" which of course is completely false.

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    Cost cutting and job reduction programs have always been popular in downturns, but they have taken on increased prominence during this most recent and extremely severe recession. Beyond the alarming number of jobs lost, what is most distressing for many people is that a significant number of those positions won’t return when conditions improve.

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