Strategy implemementation & balance scorecard

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  • 1. Amity Global Business School, Singapore Presented to – Ms. Astha Gupta Presented by – Devika Goel, Ankita Verma, Vaishali Goel, Avantika Kansal, Divya Bajaj & Harshita Baranwal
  • 2. • Operation-driven rather than market-driven. • Action-oriented, make-things- happen tasks. • Strategy requires few; execution requires everyone.
  • 3. Firm Strategy Firm Performance Task-Focus (Value) Structure Decision Processes and Controls Reward Systems People
  • 4. • Build an Organization • Marshal resources • Institute policies • Pursue best practices and continuous improvement • Information and operating systems • Tying rewards to strategy and goals • Shape corporate culture • Exert leadership
  • 5. 7 1. Identify short term objectives 2. Initiate specific functional tactics 3. Outsource non-essential functions 4. Communicate policies that empower people in the organization 5. Design effective rewards
  • 6. • Time consuming • Wide array of managerial challenges • Many options to proceed • Demanding people-management skills • Perseverance to get initiatives moving • Number of unexpected issues • Resistance to change, misunderstandings. • Difficulties of integrating efforts across groups.
  • 7. Vision People Management Resource
  • 8. • Entry of low cost carriers changed the face of industry • Jet Airways started facing stiff competition from Air Deccan, Spice Jet & Kingfisher • Market share went down from 57% to 32%
  • 9. • Set up a new Corporate strategy: “Regaining and expanding its market share by entering and operating in the LOW COST and a VALUE BASED CARRIER arena as well” •In order to give a definite shape to the corporate strategy, a business level strategy was implemented: •“the TAKEOVER of Air Sahara by Jet Airways and renaming it to form JETLITE”
  • 10. •Jet’s management made various changes in the operation strategies of the airline • No tickets at throw away prices • Jetlite was to take on Tier II and Tier III cities • New schedule for other tier II cities • Cost cutting – by slashing employee numbers and better negotiation with suppliers • Single cabin carriers • Improvement in aircraft utilization hours
  • 11. • Corporate Level Strategy: Focus: – Deliver High performance in controlled businesses – Maximize shareholder returns in affiliates – Leverage measurable synergy benefits from scale and scope – Outperform acquisition business cases
  • 12. • Vodafone wanted to enter the Indian market in 2006-2007 – Gartner had figured that customer base in India would double by 2010
  • 13. • Business Unit Strategy – Acquired Hutchison Essar Limited and divested in Bharti Airtel
  • 14. • Operational & Functional Strategies: – Investing in Rural India by network sharing with other providers – Cutting costs through: • Infrastructure sharing deal with Idea and Bharti – Redefining the logo – High level of cost and time discipline – Customer value enhancement – Target areas: Mobile data, Enterprise and Broadband – Technology upgradation – CSR • Group Supply chain, Group Marketing, Employment
  • 15. •Entry of Honda into US motorcycle market in 1959 •Honda executives (from Japan) focused on selling 250-cc & 350-cc machines •Sales were sluggish •Honda executives themselves were using 50-cc bikes & were attracting attention •They got a call from Sears & other stores •Honda launched those bikes •By 1964 one out of two motorcycles sold in US was a Honda
  • 16. • In 1992 Nokia’s strategic intent was expressed in four criteria – Focused – Global – Telecommunications-oriented – High value-added • Its vision was the voice will go wireless • The Nokia vision in 1992 led to the company divesting a broad range of businesses that contributed some 90 percent of its revenues and to focus on the manufacture of handsets and network equipment. • The leaders set a further goal of doubling market share by the end of the decade. This achieved by 1997 and by 1999 Nokia had overtaken Motorola as market leader.
  • 17. • In 1997 the strategic intent was articulated in terms of a mobile information society and bring the internet to everyone’s pocket • The 1997 vision further consolidated Nokia’s market position and led to the development of the picture phone and the mobile internet etc. • The company’s current mission is about ‘the awesome potential in connecting people’- “whenever, wherever, we believe in communicating, sharing, and in the awesome potential of connecting the 2 billion who do, with the 4 billion who don’t”.
  • 18. It is an integrated system of managing strategies that links long term objectives with short term actions, senior management with frontline employees and organizational vision with organizational activities.
  • 19. STRATEGY
  • 20. 1.Leadership From the Top – Create the Climate for Change – Create a Common Focus for Change Activities – Rationalize and Align the Organization 3.Unlock and Focus Hidden Assets – Reengineer Work Processes – Create Knowledge Sharing Networks 2.Make Strategy Everyone’s Job – Comprehensive Communication to Create Awareness – Align Goals and Incentives – Integrate Budgeting with Strategic Planning – Align Resources and Initiatives 4.Make Strategy a Continuous Process – Strategic Feedback That Encourages Learning – Executive Teams Manage Strategic Themes – Testing Hypotheses, Adapting, and Learning STRATEGY Formulate NavigateCommunicate Execute
  • 21. The Balanced Scorecard identifies the factors that create long- term economic value in an organization, for example: Customer Focus: satisfy, retain and acquire customers in targeted segments
  • 22. Business Processes • deliver the value proposition to targeted customers •innovative products and services •high-quality, flexible, and responsive operating processes •excellent post-sales support Organizational Learning & Growth •develop skilled, motivated employees; •provide access to strategic information •align individuals and teams to business unit objectives
  • 23. Who are our targeted customers? What is our value proposition in serving them?
  • 24. What capabilities & tools do employees require to help them execute our strategy?
  • 25. What financial steps are necessary to ensure the execution of our strategy?