Main Methodologies for Strategy Execution
Two weeks ago we went over 5 simple rules to translate general ideas, about what makes you competitive at the organization level, into concrete actions for progress at the individual level.
Today we will have an overview of the most known and used methodologies for Strategy Execution:
-MBO (Management By Objectives): 5 steps approach based on people objective and performance;
-Cascade Objectives: 4 phases to link strategic directions with processes and build a business process management system;
-Hoshin Planning: 5 steps approach based on people objective and performance (catchball: what and how);
-Balanced Scorecards: creation of a combined set of measures and dashboards to monitor 4 key areas versus strategic goals;
-OKR (Objectives & Key Results): direct link between objectives (qualitative) derived from strategy and results (from 2 to 5 each, quantitative).
Over the next few weeks we’ll delve into each methodology, so follow us!
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