Welcome to class of Strategy Implementation (Balanced Scorecard) Dr. Satyendra Singh Professor, Marketing and International Business University of Winnipeg CANADA http://abem.uwinnipeg.ca s.singh@uwinnipeg.ca

Hierarchy of Company Statement Lofty Precise 2

Your strategy statement should be clear: Objective, Scope and Advantage 3

Does this ad have a clear strategy statement? Objective: _______________________________ Scope: ___________________________________ Advantage:_______________________________ 4

The Strategic Sweet Spot The Spot enables a firm to meet customers’ needs (and competes) in a way that rivals cannot, given the environment/pressure in which it operates. 5

OCEAN Strategy: Red versus Blue In Blue: Rival or competition is irreverent Create new demand, new market… everything new! Innovation… Focus on value creation… 6

BCG Matrix 7

Porter 5 Forces -- Example 8

We need to translate vision into strategy, implement it, and then measure its effectiveness by developing indicators or scores Balanced Scorecard (BSC) Strategic Themes 9

BSC: Strategy Loop 10

BSC: Strategy Map 11

BSC: Indicators or Scores 12 Source: Learn.com

Example of a Balanced Scorecard 13

Example of a Balanced Scorecard… 14

Example of a Balanced Scorecard of a Regional Airline 15

Cascading the Scorecard Scorecard should be used at all levels of a firm 16

Making strategy work is everyone’s job Making strategy work is everyone’s job. Everybody in the firm should understand it. Use communications 17

Communications Channels 18

Not-for-Profit Strategy Map 19

Profit versus Not-for-Profit Strategy Map • Customer  Client  Elevated to the top • Scorecard is strongly mission-driven • Financial perspective supports BSC  does not drive it • Internal processes create client results • Organizational/Workforce Effectiveness is more complex because of volunteers, limited resources 20

Questions?