The last block on the Strategy Whiteboard is Financial Outcomes. Most strategic planning efforts begin with setting financial goals and then adapt a strategy to fit within the limited potential of incremental financial growth. Kaplan and Norton wrote in the book, The Balanced Scorecard, “The scorecard should tell the story of the strategy, starting with the long-run financial objectives.” While starting with financial goals is a common practice in business, it also limits the organization’s ability to realize its potential.
Think of strategy retreats you have participated in the past. They typically include a high-level ...
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