Vision to Activities Lets make implementation simple

Vision to Activities Lets make implementation simple

The organizations worldwide have these two common concerns:

  1. The strategy formulated by the top management is far from the changing realities of the market
  2. And if the strategy formulated is in accordance with market realities, it is becoming difficult to translate it to the operational level and hence they remain only in the strategy documents of the company

The strategy formulation has these standard steps:

  • Defining Vision
  • Mission
  • Core Values and Objectives for the organization.

The difficult part is to convert objectives into workable units i.e. strategy implementation becomes a challenge for the Senior Management. Balanced Score Card is one good tool in this direction. I am sharing my experience of maintaining Balanced Score Card at my organization.

  1. Convert Objectives into SMART Goals: The objectives direct towards the goal definition. The goals should have the below elements: Specific, Measurable, Attainable, Realistic and Time bound.
  2. Percentage contribution of different Goals to a particular objective: The % contribution of the goals to the particular objective needs to be analyzed by the Senior Management in accordance with their past experience.
  3. Conduct Synergy meets to get Ideas: The people at the operations level face the ground level challenge related to different functions in the organization. Ideas from them will be vital to the success of the organization. Conducting Synergy meets at regular intervals and gathering ideas from them will lead to a priceless repository of potential future initiatives.
  4. Map Ideas to Goals:Map the ideas to the goals it intends to satisfy and rate them majorly on two factors (These factors can be different for different businesses):a) Effectiveness of the Idea to achieve Goal, b) Impact of the Idea on the Goal
  5. Qualify Idea to Initiatives: After rating Ideas on the above two parameters, discuss and make some rules (on the basis of your organizational preference) to qualify these ideas to the initiatives.
  6. Choose among initiatives:Previous step will give handful of ideas which have potential to become initiatives. Rate those ideas on the different parameters derived from the focus on customers, finance, internal processes and people.
  7. Prepare a Work Breakdown Structure: Afterthe initiative qualifies, break it down to the activities to be performed with the Responsibilities, End Date, Duration, Completion Status etc. mentioned.

This 7 step process has converted the broad level vision into the doable activities with clear-cut responsibilities to perform.

Balanced_ScoreCard

Understanding Balanced Scorecard Design and Implement

  • Balanced Scorecard is a tool. In this particular post we will be focussing more on the issues this tool resolves in the organization. In later posts we will be exploring the tool itself.
  • Balanced Scorecard as a tool drives below systems:
    1. Communication System
    2. Performance Management System
    3. Strategic Management System
  • Factors affecting organizations in todays dynamic environment:
    1. Too much focus on financial measures of performance, to measure organizations success
    2. In this era of Information Technology, the intangible assets which are creating far more value for customers are less understood and evaluated
    3. Difficulty in percolation of formulated strategy to all the levels of the organization and hence challenges in strategy execution
  • Balanced Scorecard helps organization in overcoming above mentioned factors affecting the organization, by addressing them as below:
    1. Introducing other measure also to ensure effective Organizational Performance Measurement
    2. Taking into account the value creation aspects of intangible assets
    3. Cascading it to the different levels in the organization to address the challenges in Strategy implementation
  • The next blog of this series will be focussing on “Financial measures and their limitations”. Stay tuned to this space and post your queries if any at rajendra@cunixinfotech.com
mountain-road

Follow the few steps to Achieve Goals – Cunixinfotech

A business cannot be made profitable overnight. It needs hard work, thorough understanding of changing global policies and strategic planning. Small business owners, mostly face trouble with their business management process. The reason is nothing but inexperience in handling business processes. Due to inability as well as inexperience in management skills, many business owners have found themselves into depriving situation, leading significant losses to their businesses. To bring efficiency in the management process and to drive a business towards its goals, the best option is finding professional and reliable business consulting solution.

Hiring business consultants is the most significant decision that you can take for your business. Business consultants are trained and professional people, having sound knowledge and insight in various business process management domains. Business consultants will help you to move your business step by step. Let us take a guide in the following section on how business consultancy can help you.

Registering a Business

The primary stage of forming a business is registering a business. Business registration is important in order match legal compliances. Paying taxes and abiding by government regulatory frameworks help a business to grow with any glitches. It also helps a business to earn brand entity. Along with registration, certain certifications are important to endorse that your business is serious about quality management and control. For example, obtaining ISO certification helps a business earn the certification for standardization.

Business Process Management

Hiring business consulting services is important to trigger seamless business process management. Business process management includes management of technologies, resources and human resources to reach better productivity. Better productivity will lead to higher profitability. With higher profitability, a business will become financially competent to deal with various futuristic business plans. Hiring professional services will help you to chalk the strategic plans for your business. Cunix Infotech is a professional and experienced business consultancy firm, which takes the pride in serving various small scale as well as large scale businesses with robust and effective strategic planning.

Project Management

Managing projects is important to keep a business process productive and smoothly working. For projects management, insightful methodologies, latest technologies and finest strategy planning are required. Cunix Infotech helps clients to manage their upcoming as well as ongoing projects with more precision. Saving time and cutting off project management cost is the higher productivity. Nevertheless, it is equally important to satisfy clients with optimal end results. Cunix Infotech helps businesses to implement strategic, cost-effective and technology driven project management techniques so that projects can be handled seamlessly.

Human Resource Management

The biggest power that an organization owes is nothing but its human resource. Streamlined, talented and dedicated human resource can take a business on the verge of success. On the other hand, inefficient human resource can lead to disasters. This is why the human resource management process must be scientific, well planned and strategic. Cunix Infotech renders end to end human resource management solutions. We are one of the leading consultants for executive hiring, legal complaisance, payroll management, etc.