Balanced Scorecard Success: The Kaplan-Norton Collection (4 Books)

CHAPTER TWO

DEVELOP THE STRATEGY

STRATEGY MANAGEMENT is a closed-loop process, as shown in Figure 2-1, with each part of the system influencing every other part. The system starts with a process to develop the strategy. Our prior work on translating strategy into strategy maps and Balanced Scorecards has helped organizations put their strategies into action but has generally accepted the enterprise’s strategy as given. During the past fifteen years, our work with companies has enabled us to observe the practices they followed to develop their strategies. We have also seen new practices introduced into the process that develops the strategy, such as quantifying the vision and describing an explicit change agenda.

Figure 2-2 shows a structured ...