Hoang Do Tan, profile picture
Uploaded byHoang Do Tan
26 views

1

The document provides guidance on a strategic roadmap assignment involving strategy determination for a client organization. It outlines a 7-stage process for strategic review including framing issues and choices, exploring strategic possibilities, assessing resources, conditions for success, barriers to choices, testing barriers, and the strategic choice decision. It also reviews core theories like the Balanced Scorecard and Strategy Maps that are relevant for developing organizational strategy. The document aims to guide students in completing a consultancy report, evidence review, and reflection on employability skills for determining and implementing strategy for a selected organization.

Embed presentation

Download to read offline
RECOMMENDED AND REQUIRED READING • Ackerman, F. & Eden, C. (2011), Making Strategy : Mapping Out Strategic Success, Sage Publications. 9781819201209. • Cunningham, J. & Harney, B. (2012), Strategy and Strategists, Oxford University Press. 9780199219711. • Hobbs, L. (2008), Strategic DNA, Agagte B2 Books. 9781932844367. • Ireland, Hoskisson & Hilt (2011), Strategic DNA, The Management of Strategy cases, 10 th edition, South Western Engage Learning. 97811335821681. • Jones, P. (2011), Strategy Mapping For Learning Organisations, Gower Publishing, 9780566088117. • Kaplan, R. S. & Norton, D. P. (1996), The Balanced Score Card, Harvard Business School Press. • Kaplan, R. S. & Norton, D. P. (2004), Strategy Maps : Converting Intangible Assets Into Tangible Outcomes, Harvard Business School Press. 9781591391340. Page 10
STRATEGY ROAD MAPS ASSIGNMENT PART 1 THE COMPANY REPORT Based upon discussions held and conclusions drawn from evidence based research, you will now adopt the role of a Strategy Consultant for a selected organisation. You are required to lead a new strategic initiative to propose and implement organisational change through the adoption of an established Strategy Map Methodology designed to inject value creation opportunities for your client and their key stakeholder groups. Your brief is to : - 1. Complete a critically evaluated situational analysis for the selected organisation to thereby establish a comprehensive understanding of current performance, productivity and competitive position against their strategic ambitions for shareholder value gains. 2. Propose a future business solution through the intervention of Balanced Score Card and Strategy Map Methodologies to achieve incremental value addition. Assess the impact upon current business practices as well as the organisational learning challenges to be addressed. Page 12
3. Against the enduring value propositions for your client’s business to adopt Strategy Map Methodologies, using your own judgement, review the wider implications if the client organisation does not accept your proposals. 3000 words THIS PART OF THE ASSIGNMENT IS A MANAGEMENT REPORT FOR THE BOARD OF YOUR CLIENT ORGANISATION. PART 2 EVIDENCE REVIEW 1. Prepare a critique of selected literature related to the domain of Strategy Maps and the Balanced Score Card, then support your perspectives with other contemporary evidence deemed relevant to achieve meaningful managerial insights and conclusions. 2. Outline potential research perspectives which could be adopted to explore client business transformation for future sustainability. 2000 words THIS PART OF THE ASSIGNMENT SHOULD BE SUBMITTED IN THE FORM OF A LITERATURE REVIEW WITH POTENTIAL RESEARCH INDICATIONS. Page 13
PART 3 REFLECTION FOR EMPLOYABILITY ENHANCEMENT Complete your individual learning log of employability skills readiness, through self-reflection on current practice, to : - 1. Realise the critical thinking and core capabilities needed to achieve this consultancy task for the client organisation. 2. Evaluate your current knowledge, skills and competencies to then assess your ability for completing this consultancy assignment. 3. Review the related leadership skills required for future personal development and career accession. 1000 words THIS LEARNING LOG IS A ROLLING RECORD MAINTAINED THROUGHOUT THE DBA MODULES AND WILL BE SUMMARIESED AT THE END. Page 14
THE MODULE GENERIC ASSESSMENT MATRIX 1. THE COMPANY CONSULTANCY REPORT 2. THE EVIDENCE REVIEW 3. REFLECTION UPON PRACTICE / APPLICATION Page 18
(1) THE COMPANY CONSULTANCY REPORT Excellent Good Satisfactory Less than Satisfactory 1. Clear Introduction to the Organisational Context 2. Report Structure and Flow 3. Industry / Company Research Applied 4. Situational Analysis and Evaluation in Content • The Need for Change • Direct Application of Explicit Frameworks for Value, Strategy and Leadership • Explicit Value Propositions for Change • Concise Action Plans Proposed • Clarity of Judgement Page 19
Excellent Good Satisfactory Less than Satisfactory • How the Change will be lead • Stated Outcomes / Benefits for New Organisation • Report Style • Appendices Technical Data Analysis Situational to Company / Industry Page 20
(2) EVIDENCE REVIEW Excellent Good Satisfactory Less than Satisfactory • Academic Research Evidence related to explicit frameworks for Value, Strategy & Leadership • Direct ‘ in text ’ citation • Quality of Critique • New Insights Gained • Formation of Judgements • Logical Conclusions • Emergent Themes for Potential DBA Research • Appendices • Quality of Bibliography • Quality of In Text References Page 21
(3) REFLECTION UPON PRACTICE / APPLICATION Excellent Good Satisfactory Less than Satisfactory • Ability to form Judgements • Mindset Change • Personal Skillsets Assessment for Leadership, Value Creation and Strategy Implementation • Self Critique of Competencies • Challenges Experienced • Overcoming Difficulties • New Knowledge Acquired • Theory Modification to suit Organisational Environment • Emergent Conclusions for Employability Skills • The Personal Development Agenda Page 22
(4) OVERALL COMMENTS STRENGTHS AREAS FOR IMPROVEMENT OVERALL GRADE Page 23
DBA : A ROAD MAP TO STRATEGY DETERMINATION STAGE 1. STRATEGIC REVIEW FRAMEWORK --- ISSUES, CHALLENGES, PRIORITIES AND CHOICES STAGE 2. STRATEGIC POSSIBILITIES STAGE 3. THE PEOPLE RESOURCE STAGE 4. ESSENTIAL CONDITIONS FOR SUCCESS STAGE 5. DISCOVERING BARRIERS TO CHOICES STAGE 6. TESTING THE BARRIERS STAGE 7. THE STRATEGIC CHOICE DECISION Page 30
STAGE 1 STRATEGIC REVIEW FRAMEWORK History and Context Drivers for Change The Need For A Solution Consequence Best and Worst Case Scenario ISSUES, CHALLENGES “ WHAT MUST BE FACED ? ” PRIORITIES “ WHAT IS IMPORTANT NOW ? ” CHOICES “ WHAT MIGHT WE DO ? ” “ WHAT ARE THE FUTURE CHOICES ? ” Macro & Micro Environmental Conditions Setting Priorities Initial Options Status Quo Facing Up To The Choices Page 31
STAGE 2 STRATEGIC POSSIBILITIES • Discussion • Validity • Viability • Leverage • Strategic Logic • Resource Logic • Economic Logic • Constraints STRATEGIC POSSIBILITIES GENERATION [TWO OR MORE ] INCLUDING STATUS QUO LINKING WITH STRATEGIC INTENT “ WHAT MAY BE POSSIBLE ? ” • ‘ The Big Picture ’ • Creativity • ‘ Inside Out ’ • Elegance • Scope • Value Chain Activities Involved • Core Values • Current Strategic Direction, Vision & Mission Page 32
STAGE 3 PEOPLE RESOURCE THE PEOPLE RESOURCE Conventional Wisdom FOR ‘ TESTING OUT ’ External Inputs STRATEGIC POSSIBILITIES Experience Inclusion Operations “ HOW CAN CHOICE BECOME A Commitment REALITY ? ” Justification Stakeholders Hierarchy Organisation Culture Teams Facilitation Page 33
STAGE 4 ESSENTIAL CONDITIONS FOR SUCCESS Brand Values, Identity and Positioning Distinct Segmentation End-Use Customer Value Channel Needs Competitive Reactions Forecasted Market Landscape ESSENTIAL CONDITIONS FOR SUCCESS FOR EACH STRATEGIC POSSIBILITY “ WHAT MUST BE TRUE TO SUCCEED ? ” “ WHAT WOULD I HAVE TO BELIEVE ? ” What Must Exist Internally, Externally and Interactively Core Capabilities Competitive Distinction Costs Relative to the Competition Organisational Alignment Consensus Compliance Stakeholder Buy-In Page 34
STAGE 5 BARRIERS TO CHOICES “ Which Conditions For Success Require A Guarantee ” [ This will highlight potential barriers ] “ Which Conditions For Success Will Hold Good ” DISCOVERING BARRIERS TO STRATEGIC CHOICES “ WHAT ARE THE RIGHT QUESTIONS TO HAVE ANSWERS FOR ? ” Assessment of Potential Risk Rank Ordering of Barriers Close Attention to ALL Essential Conditions For Success Page 35
STAGE 6 TESTING THE BARRIERS Test Design Validity Focus Analysis in Depth TESTING THE BARRIERS DISCOVERED “ WHAT MUST BE KNOWN TO MAKE THE BEST DECISION ? ” Conducting The Tests Feasibility ‘V’ Desirability Risk Realities External Constraints Confidence Page 36
STAGE 7 THE STRATEGIC CHOICE DECISION Announcements Articulation Plan For Change Plan for Implementation Implementation Team Strategy Into Action Management Controls Monitoring & Review THE STRATEGIC CHOICE DECISION FOCUS DESIRED OUTCOME(S) STRATEGIC THRUST Review Test Results Decision Making Protocols Risk of ‘ Inaction ’ Opportunity Costing Total Resourcing Strategic Timing Measuring Success Celebration Page 37
SRM 6 CORE THEORIES  THE BALANCED SCORE CARD         STRATEGY MAPS  Page 38
THE BALANCED SCORE CARD A Review of Kaplan and Norton’s Strategy Management Innovation Based Upon The Seminal Text “ Translating Strategy Into Action The Balanced Scorecard ” 1996 ISBN 0-87584-651-3 HBS Press Page 39
CONTENTS 1. THE BALANCED SCORE CARD -- AN INTRODUCTION 2. THE BALANCED SCORE CARD PERSPECTIVES AND PERFORMANCE CRITERIA 3. THE BSC SEQUENCE 4. MEASUREMENT 5. STRATEGIC THEMES TO DRIVE ORGANISATIONAL STRATEGY 6. INTEGRATING THE BSC WITH ORGANISATIONAL STRATEGY 7. CASCADING THE BSC 8. A SIMPLE EXAMPLE OF BSC OUTLINED 9. BSC AND ORGANISATIONAL STRATEGIC LEARNING 10. A ROAD MAP FOR INTRODUCTING THE BSC Page 40
1. THE BALANCED SCORE CARD -- AN INTRODUCTION In essence the Balanced Score Card integrates measures of past-financial performance with other new measures to drive future performance. Performance Measurement is at the heart of the Balanced Score Card, which itself is derived from an organisation’s Vision and Strategy. The process of determining the Balanced Score Card is based upon just four perspectives for which objectives and measures are determined : - 1. FINANCIAL 2. CUSTOMER 3. INTERNAL BUSINESS PROCESSES 4. LEARNING AND GROWTH Page 41
1. FINANCIAL 2. CUSTOMER VISION AND 3. INTERNAL BUSINESS STRATEGY PROCESS 4. LEARNING & GROWTH THE BALANCED SCORE CARD PERSPECTIVES Page 42
Each of the Four Perspectives will then require the following four performance criteria to be set as a basis for putting strategy into action. 1. OBJECTIVES 2. MEASURES 3. TARGETS 4. INITIATIVES / ACTION PROGRAMMES In this way the Balanced Score Card (BSC) provides an established framework for value creation while retaining clarity for financial performance and exposes the value drivers for competitiveness in the longer term. To achieve this all BSC Perspectives must be ‘in balance’ between the financial and non-financial measurements which are derived from the organisation’s Vision, Mission and Strategy. Page 43
The BSC therefore provides a system for the strategic management of the organisation by : - 1. Creating, confirming and communicating a Vision and Mission which can be translated into action at SBU level. 2. Confirming, communicating and linking objectives and the measures by which to assess them. 3. Converting objectives into targets which should be in alignment across the BSC. 4. Provide a basic for feedback and strategic review. NOTE : When combined, this provides a formula for ‘ breakthrough performance ’. Page 44
3. THE BSC SEQUENCE The ideal sequence when applying the BSC Perspectives would be : - 1. FINANCIAL 2. CUSTOMER 3. INTERNAL BUSINESS PROCESSES 4. LEARNING AND GROWTH This sequential approach achieves Strategy Causality and Integration. The BSC process in itself is designed to achieve organisational cohesion as well as managerial commitment to actions needed to achieve change. It is for ‘ the change agenda ’ which the BSC can make a substantial contribution AND establish a system for ongoing improvement. Page 45
If used wisely, the organisation’s budgetary reviews can also be integrated with the BSC methodology and thereby produce a platform for organisational development. The BSC provides a basis for the determination and review of business strategy, the most powerful ingredient being the ability to measure performance. If measurement is attained then management control is attainable. 3. MEASUREMENT The ‘ metrics ’ used for measurement must be determined from the organisational context, but to provide more general examples the table below would provide an indication. Page 46
THE FOUR PERSPECTIVES INDICATIVE MEASURES 1. Financial Economic Value Added, Return on Investment, Return on Assets, Cash Flow Liquidity, EBIT 2. Customer Acquisition, Retention, Purchase Loyalty, Market Share, Share of Wallet, Customer Satisfaction, Profit by Segment 3. Internal Business Processes Turn-around Time, Cost, Process Quality, Innovation 4. Learning & Growth Information Systems Efficiency, Decision Support Systems, Employee Engagement, Knowledge Management NOTE : These must be originated from the Vision and Strategy. Page 47
5. STRATEGIC THEMES TO DRIVE ORGANISATONAL STRATEGY Within each of the Four Perspectives, there may be strategic themes developed to achieve the organisation’s strategy. These themes would also provide a source of strategic integration for the business both within a perspective and across all perspectives. Here are some generalised examples : - 1. FINANCIAL PERSPECTIVE Revenue Streams, Revenue Flow, Net Revenue Growth, Cost Optimisation, Asset Utilisation, New Investments, Cash Conversion Cycle, Working Capital Management. These themes will be related to Business Unit Strategy for Growth, Sustainability or even Divestment. Page 48
2. CUSTOMER PERSPECTIVE Customer Acquisition, Customer Relations, Customers Defection, Customer Profitability by Segment, Market Share, Competitive Positioning, Customer Relationship Management, Customer Value Propositions, Brand Equity, Customer Experience Management, Reseller Partnerships, Channel Support, Pricing & Terms of Trade. 3. INTERNAL BUSINESS PROCESS PERSPECTIVEInnovation, Business Operations, Order Cycle Time, Service Levels, Cross-Functional Service Level Agreements, Standard Operating Procedures, New Product Development, Logistics Efficiencies, Brand Management, Supplier Relationship Management, Procurement. 4. LEARNING AND GROWTH PERSPECTIVE Employee Engagement, Competency Enhancement, Information Systems Support, Technology Innovations, Organisational Alignment, Organisational Climate, Productivity, Core Value. Page 49
6. INTEGRATING THE BSC WITH ORGANISATIONAL STRATEGY The BSC, through internal meetings held, communicates a clear sense of direction and purpose for all involved employees to attach to. This clarity of understanding creates cohesion for change. Because BSC performance measures act as ‘ drivers ’, and that the causal effects are understood which ultimately link to financial outcomes, then the rationale for strategy achieves clarity. Therefore an effective BSC will have both OUTCOMES and DRIVERS, which could also be termed lagging indicators and leading indicators. See the examples below : - Page 50
THE CUSTOMER PERSPECTIVE STRATEGIC OBJECTIVES STRATEGIC MEASUREMENTS 1. “ To increase customer loyalty by market PERFORMANCE PERFORMANCE segment ” OUTCOMES DRIVERS LAG INDICATORS LEAD INDICATORS • Customer • Customer Retention Satisfaction • Customer Purchase Previously Page 51
MANAGING STRATEGY THROUGH THE BSC The fundamental challenge is to ensure there is an effective connection between Strategy Formation and Strategy Execution. Classical Reasons for a ‘disconnect’ are : -  Visions (and Missions) and Derived Strategies which cannot be actioned in practice.   Strategies which have a ‘gap’ between Strategic Intentions and Strategic Abilities at different levels in the organisation ie. they cannot be effectively communicated and cascaded.    Lack of resource adequacy and allocation. Poor feedback systems. NOTE So the BSC approach must pre-empt these difficulties and ensure strategic alignment and cascadence. Page 52
7. CASCADING THE BSC The Strategic Objectives of the BSC can be cascaded down to operational level by using appropriate measures to track performance, for example. FINANCIAL PERSPECTIVE STRATEGIC OBJECTIVES Optimise Inventory Handling Cost STRATEGIC INITIATIVES • Inventory Control System Review • Purchasing Policies Review • Supplier Relationship Management Guidelines MEASURE Stock-Turn Ratio Cascade To Teams TEAM MEASURES Involved • Economic Order Quantities • Stock Shelf Life • Stock Movements • Zero Stock Obsolescence Page 53
8. A SIMPLE EXAMPLE OF BSC OUTLINED The Corporate Strategic Initiative is to re-establish competitive market positioning to achieve performance growth for incremental shareholder value gains. OBJECTIVES MEASUREMENT TARGET ACTION FINANCIAL • Regain Last Sales Sales Growth 10% Per Annum Sales Planning PERSPECTIVE • Grow Operations Margin Growth 5% over Two Review Terms Margins Years of Trade • Control Costs Cost Reduction 10% over Two Budgetary Years Control Page 54
OBJECTIVES CUSTOMER • Rebuild Loyalty PERSPECTIVE • Customer Acquisition • Customer Satisfaction • Customer Value Propositions MEASUREMENT Repeat Sales Customer Referrals CRM Survey Customer Survey TARGET ACTION Increase Focus Group Customer value Research by 10% Per Annum Market Penetration for Customer Growth Confirmed Industry Position within Top 3 within two years Periodic Customer Surveys Page 55
OBJECTIVES MEASUREMENT TARGET ACTION INTERNAL PROCESS • Build Customer 10% Per Annum Marketing PERSPECTIVE Relationships Growth Strategy and Sales Planning Execution • Penetrate New Customer Loyalty Calculate & Build Customer Segments Repeat Business 10% per annum Customer Lifetime Value Sales Growth • Conduct Competitor Positioning Surveys #3 within two Periodic Analysis years Customer Surveys Page 56
OBJECTIVES MEASUREMENTS TARGET ACTION LEARNING & • Develop Marketing CEO Tracking Upgrade within a Skills Training GROWTH Competency year PERSPECTIVE • Develop Customer Datamining Potential Achieve in 6 Appoint Database months External Consultant • Improve Information Decision Support On Stream ICT Systems Systems for Feedback Effectiveness in one year Upgrade NOTE : Targets and Actions are linked across the perspectives to achieve shared ownership for outcomes designed to achieve this corporate strategic initiative. Page 57
9. BSC AND ORGANISATIONAL STRATEGIC LEARNING Often the process of using the BSC in practice leads to the questioning of commonly-held assumptions and the need to then reflect upon them for future relevance and consistency. This questioning process is known as DOUBLE LOOP LEARNING, which when employed will lead to new insights, new strategies and the need for change. Strategies are creative in design and will both emerge and change overtime as a result of environmental turbulence. Even the implementation of strategies can lead to new strategies emerging. In this way, strategy is an on-going process to achieve organisational renewal, relevance and sustainability. This will all depend upon a shared vision as a foundation stone. Page 58
10. A ROAD MAP FOR INTRODUCING THE BSC 1. ACHIEVE AND SHARE A VISION 2. OBTAIN CONSENSUS ABOUT CORPORATE STRATEGY AND STRATEGIC INITIATIVES NEEDED 3. RECONFIRM FOCUS AND PRIORITIES 4. DEVELOP LEADERSHIP FOR THE BSC 5. PLAN THE BSC AS A STRATEGIC INTERVENTION 6. INTEGRATING THE BSC TO ORGANISATIONAL STRATEGY 7. SET TARGETS FOR PUTTING STRATEGIES INTO ACTION 8. DETERMINE AND ALIGN ACTION PROGRAMMES 9. ESTABLISH A SYSTEM FOR FEEDBACK, MONITORING AND REVIEW 10. EVALUATE STRATEGIC OUTCOMES Page 59
STRATEGY MAPS A Review of Kaplan and Norton’s Seminal Text “ Strategy Maps Converting Intangible Assets into Tangible Outcomes ” 2004 ISBN 978-1-591-134-0 HBS Press Page 60
CONTENTS 1. OVERVIEW 2. THE TENENTS OF THE STRATEGY MAP 3. THE STRATEGIC FIT WITH STRATEGIC MANAGEMENT 4. VALUE CREATION THROUGH THE FOUR BSC PERSPECTVES – INDICATIVE EXAMPLES 5. VALUE CREATING THEMES 6. THE INTEGRATION OF STRATEGIC THEME(S) WITH THE STRATEGY MAP AND THE BALANCED SCORE CARD 7. VALUE CREATING INTERNAL PROCESSES 8. STRATEGY MAP FOR CUSTOMER MANAGEMENT 9. LINKING THE STRATEGY MAP TO THE BALANCED SCORECARD 10. VALUE CREATION THROUGH LEARNING & GROWTH INTANGIBLE ASSETS Page 61
OVERVIEW The Balanced Score Card has achieved a performance measurement system for the implementation of vision and strategy, through organisational alignment, with a clear sense of focus upon measurable outcomes. The BSC demonstrates that strategic objectives can be achieved by linking causal relationships through four BSC perspectives. This notion of linkage gave birth to the “ Strategy Map ”. Today the Strategy Map has been just as an important innovation as the Balanced Score Card. This lead Kaplan and Norton to redefine the formula for Breakthrough Results as  +  +  STRATEGY MAPS BALANCED SCORECARD THE STRATEGY FOCUSED ORGANISATION Page 62
The underlying philosophy of all 3 components is “ You can’t manage what you can’t measure and you can’t measure what you can’t describe. ” The Strategy Map describes how value is created, how strategic themes can create new value and how alignment of intangible assets can achieve strategic outcomes for long term value creation. In simple terms, the Strategy Map describes how organisations create value for business sustainability, derived from the four perspectives in the Balanced Score Card (BSC). It then provides the critical link between strategy formulation and strategy implementation. Page 63
THE TENETS OF THE STRATEGY MAP Kaplan and Norton claim that 1. Strategy balances often contradictory focus across the organisation. 2. Strategy is based upon differentiated customer value propositions. 3. Economic Value is created through internal business processes. 4. Strategy comprises simultaneous, complementary themes. 5. Strategic alignment determines the value of intangible assets when : 5.1 Human capital is aligned in job families to strategic themes. 5.2 That the IT infrastructure is aligns information capital to strategic themes. 5.3 The organisational change agenda & leadership must integrate realignment to achieve strategic themes. These ideals are embedded in the classical template shown below. Page 64
Value Creation from Intangible Assets which is the basic premise of Kaplan & Norton’s work is fundamentally different from creating value through the strategic management of tangible financial and physical assets. This distinction is explained by the authors as follows : - 1. Value Creation through intangible assets is not direct but could be incremental through a chain of cause and effect relationships. 2. Value creation will relate to context in which the intangible assets are aligned. 3. Often the value creation from intangible assets is potential value which can only be captured if these assets are aligned to a strategic thrust and are in fact bundled together. This is explained by reference back to the BSC and combining this in a Strategy Map format as shown below. Page 65
Productivity Strategy Long-Term Shareholder Growth Strategy Value FINANCIAL PERSPECTIVE Improve Cost Increase Asset Expand Revenue Enhance Structure Utilisation Opportunities Customer Value CUSTOMER Price Customer Value Proposition Service Partner- Brand PERSPECTIVE Availability Selection Functionality ship Quality Product / Service Attributes Relationship Image INTERNAL PERSPECTIVE LEARNING AND GROWTH PERSPECTIVE Operations Customer Management Innovation Regulatory and Social Management Processes Processes Processes Processes • Supply • Selection • Opportunity ID • Environment Selec • • • • Selec Production Acquisition R & D Portfolio Safety and Health • Distribution • Retention • Design / Develop • Employment • Risk Management • Growth • Launch • Community Human Capital Information Capital Organization Capital Culture Leadership Alignment Teamwork KAPLAN & NORTON’S CLASSICAL STRATEGY MAP TEMPLATE Page 66
FINANCIAL PERSPECTIVE Long-Term Revenue Productivity Shareholder GrowthValueStrategy CUSTOMER PERSPECTIVE Product / Service Attributes Relationship Image Price Time Function Partnership Brand Quality INTERNAL PROCESS PERSPECTIVE Manage Manage Manage Manage Regulatory Operations Customers Innovation and Social Processes LEARNING AND GROWTH PERSPECTIVE Human + Information + Organisation Capital Capital Capital Cause-and-Effect Relationships Defines the chain of logic by which intangible assets will be transformed to tangible value. Customer Value Proposition Clarifies the conditions that will create value for the customer. Value-Creating Processes Defines the processes that will transform intangible assets into customer and financial outcomes. Clustering of Assets and Activities Defines the intangibles that must be aligned and integrated to create the value. Page 67
THE STRATEGIC FIT WITH STRATEGIC MANAGEMENT ? The diagram below locates the BSC and Strategy Maps into a Strategic Management perspective. Vision Strategy Targets Strategic MapMission Strategy OutcomesBalanced InitiativesValues Score Card Direction and The Game Plan or Translates the What must Value Beliefs which Route to be taken Strategy into focus be achieved Capture influence for action, Value to deliver organisational Creation, and value behaviour Performance Measurement Page 68
VALUE CREATION THROUGH THE 4 BSC PERSPECTIVES -- INDICATIVE EXAMPLES Long Term Incremental Shareholder THE FINANCIAL Value Enhancement PERSPECTIVE PRODUCTIVITY STRATEGY GROWTH STRATEGY Improve Cost Infrastructure Increase RevenueManagement Build Customer Value Optimisation Streams • Improve Procurement • Capacity Management • New Market Segments • Increase • Improve Working Capital • Asset Utilisation • Segmentation Strategy Customer Base • IncreaseManagement • Business Process • Product / Service Customer • StreamliningReduces Expenses Innovation Loyalty • • Service Turnaround TimesEconomic Value Analysis • Strategic Alliances • Increase • Improve Output within Customer Capacity Constraints Profitability Page 69
THE CUSTOMER PERSPECTIVE Customer Segment Customer Segment Customer Customer Profitability • Market Share Acquisition Retention • Mind Share The Customer Value Proposition (Superior) Price Quality Service Brand Functionality Design CRM Partnerships Total Customer Experience Satisfaction Page 70
OPERATIONS CUSTOMER INNOVATION REGULATORY MANAGEMENT MANAGEMENT PROCESSES AND SOCIAL PROCESS PROCESSES PROCESSES • Procurement • Qualifying NPD Constraints • Supply Chain Customers Opportunity Governance THE INTERNAL • Manufacturing • Acquisition Analysis Social Due Diligence ResponsibilityPERSPECTIVE • Distribution • Definition R & D Health & Safety • Logistics • Retention Design Engagement • Operational Risk • Development Employment Customer Base Networks Growth Launch Page 71
ALIGNMENT READINESS STRATEGIC JOB IT PORTFOLIO THE CHANGE AGENDAFAMILIES HUMAN CAPITAL LEARNING • CompetencyAND GROWTH • Structures PERSPECTIVE • Skills • Training • Knowledge • Attitude INFORMATION ORGANISATION CAPITAL CAPITAL • ICT • Culture • Systems • Leadership • Relevance • Alighment • Databases • Cohesion • Networks • Teamwork • Integration • Shared Values Page 72
VALUE CREATING THEMES Strategy can also be envisaged as a set of value creating themes. These flow through all the four Strategy Map Perspectives in the drive towards shareholder value enhancement. Examples of Strategic Themes could be : -         Relationship Management Organisational Engagement Internal Organisational Development New Product Development Waste Management Just In Time World Class Accreditation Customer Centricity Page 73
The visual impact of Strategic Themes upon the Strategy Map is shown below : - Long Term Shareholder Value Enhancement FINANCIAL PERSPECTIVE Productivity Growth CUSTOMER PERSPECTIVE Customer Value Propositions INTERNAL Operations Customer Innovation Regulatory PERSPECTIVE Management Management Management & Social Human Capital LEARNING & Information Capital GROWTH Organisational Capital ST  ST  ST  ST  ST  to  = STRATEGIC THEMES Page 74
The STRATEGIC THEMES, if applied, will define the neededNote Carefully processes, intangible assets and initiatives required to be implemented to execute the strategy. Each Strategic Theme should have its business case confirmed before being mandated. Page 75
THE INTEGRATION OF STRATEGIC THEME(S) WITH THE STRATEGY MAP AND THE BALANCED SCORE CARD STRATEGY MAP BALANCED SCORE CARD ACTION PLANS Strategic Theme : Eg. New Product Objectives Measurement Target Initiatives Budget (Costs) Development • • • • • FINANCIAL PERSPECTIVE • • • • • • • • • • • • • • • CUSTOMER PERSPECTIVE • • • • • • • • • • INTERNAL PERSPECTIVE • • • • • • • • • • • • • • • LEARNING & GROWTH • • • • • • • • • • PERSPECTIVE • • • • • NOTE : The execution of the Strategic Theme is achieved through Strategic Initiatives laid down in the Action Plan, all of which are aligned and integrated through the 4 Perspectives. Page 76
VALUE CREATING INTERNAL PROCESSES The “ INTERNAL PROCESS PERSPECTIVE ” will transform Intangible Assets into financial and customer value outcomes. These as we know already are : - Operations Customer Innovation Regulatory & Management Management Management Social NOTE : Each of these management processes could have its own Strategy Map. Using Customer Management Processes as an example, we can discover how this intangible asset can create value. Page 77
From the classical Kaplan and Norton Strategy Map template. The customer management core processes are : - • Customer Selection (Segment Attractiveness) • Customer Acquisition (Secure Customers) • Customer Relation (Build Customer Loyalty) • Customer Growth (Grow Customer Value for increased sales) These pillars of the Customer Management Process can now be developed into a full Strategy Map as shown below. [ Clearly Strategy Maps can be produced for the other Internal Process Perspectives ]. Page 78
STRATEGY MAP FOR CUSTOMER MANAGEMENT FINANCIAL PERSPECTIVE Long Term Shareholder Value Enhancement Productivity Growth Improve Sales and Selling Productivity Build Revenue Build Customer Streams Value CUSTOMER PERSPECTIVE The Customer Value Propositions Price Quality Service Brand Functionality Availability Partnerships Page 79
INTERNAL PERSPECTIVE CUSTOMER SELECTION Customer Segments Customer Profiles Qualifying Customers Target Customers Brand Positioning Awareness Building Marketing Communications Lead Generation CUSTOMER ACQUISITION Project Competitive Value Customer Acquisition Approach Networks Trade Relationships Locations Purchase Motivations Lead Conversion CUSTOMER CUSTOMER RETENTION GROWTH A Valued Customer Upselling Experience Cross-Selling Preferred Partnerships Solution Selling Brand Promise Partnership Delivery Customer Training Service Excellence Customer Referrals Customer Lifetime Value Customer Satisfaction Customer Loyalty Schemes Page 80
Learning and Growth Perspective HUMAN CAPITAL INFORMATION CAPITAL ORGANISATION CAPITAL • Marketing Product Knowledge Research Customer Care • Competitor Training Analysis Soft Skills • Data Mining Partner Management • IT Communications Lead Generation • Database Sales Management • Margin Analysis Information Systems • Contribution Web-based Analysis Communications • Response Analysis Customer Centric Customer Centric Culture Culture Industry Best Industry Best Practices Practices Benchmarking Benchmarking Marketing Leadership Marketing Leadership Call Centre Policies Problem Resolution Customer Feedback Turn Around Times Order Processing Order Fulfillment Order Frequency Customer Contribution By Segment Customer Centric Culture Industry Best Practices Benchmarking Marketing Leadership Selling Skills Customer Partnering Customer Relationship Management Customer Feedback Systems JIT Systems Information Sharing Joint Planning Systems Customer Centric Culture Industry Best Practices Benchmarking Marketing Leadership Page 81
LINKING THE STRATEGY MAP TO THE BALANCED SCORE CARD FOR EACH OF THE FOUR PERSPECTIVES • Objectives are then required • Measures to assess the achievement of objectives • Targets to be achieved • Budget / Cost Implications In order to make the Strategy Map actionable. Page 82
VALUE CREATION THROUGH LEARNING AND GROWTH INTANGIBLE ASSETS From the Seminal Work of Kaplan and Norton and the research they have undertaken it has emerged that there are Key Result Areas which cannot be ignored. 1. HUMAN CAPITAL STRATEGIC COMPETENCIES [ Skills, Talent, Know How ] 2. INFORMATION CAPITAL STRATEGIC INFORMATION [ Information Systems, Knowledge Applications and Infrastructure ] 3. ORGANISATION CAPITAL CULTURE, LEADERSHIP, ALIGNMENT AND TEAMWORK [ Shared Vision, Mission and Values, Qualified Leaders to mobilise alignment at all levels of the organisation. Team-based information sharing for action ] Page 83
Table of Contents PART ONE – THE COMPANY REPORT......................................................................................................................1 I. Situational analysis for Sony Corporation ......................................................................................................1 1. PESTEL analysis for Sony Corporation .......................................................................................................1 2. Analysis of Five Forces for the electronics industry of Sony Corporation............................................4 3. SWOT analysis...............................................................................................................................................6 II. Future business solution for achieving incremental value addition..........................................................7 1. Balanced Score Card.....................................................................................................................................7 2. Strategy Map Methodologies .....................................................................................................................9 III. Wider implications for convincing Sony Corporation to conduct organizational change...................12 PART TWO – EVIDENCE REVIEW............................................................................................................................13 I. A critique of chosen literature regarding Strategy Maps and Balanced Score Card..............................13 1. Literature regarding Balanced Score Card..............................................................................................13 2. Literature regarding Strategy Map...........................................................................................................16 II. Positive business transformation for the sustainability of business in the future................................19 PART THREE – REFLECTION FOR ENHANCEMENT OF EMPLOYABILITY............................................................20 I. Core capabilities and critical thinking are needed to achieve the task of consultancy for Sony Corporation..........................................................................................................................................................20 II. My competencies, skills and knowledge for effectively completing the task of consultancy for Sony Corporation..........................................................................................................................................................21 III. Leadership skills related to consultancy are required for future individual development and future career accession ..................................................................................................................................................21 REFERENCES..............................................................................................................................................................24 PART ONE – THE COMPANY REPORT I. Situational analysis for Sony Corporation 1. PESTEL analysis for Sony Corporation Political elements 1
Sony Corporation is headquartered in Japan and the majority of business activities of this corporation are in Asia and Europe. Indeed, there are over 90% of the market share of this corporation are in Asia and Europe (Sony Corporation, 2015). The political situation of nations in Asia and Europe where Sony Corporation is operating is stable because the governments of nations in Asia and Europe have a great emphasis on assuring their nations’ political stability. Indeed, according to Schmidt et al. (2016), the governments of the nations regard assuring the political stability as an important aspect for enhancing the economy development for their nations. Moreover, Sony Corporation chooses Asian nations like China, India, and Vietnam with the great economic development and the high political stability to perform its business activities (Sony Corporation, 2015). Thus, Sony Corporation has not faced the problem regarding the political instability of nations where it operates. Economic elements Regarding economic issue, Sony Corporation is gaining good business development from Asia and Europe. In Asia, China, India and Vietnam have the stable economy development in the recent time after the world economic downturn happened in 2008. Indeed, in Asia, in 2014, China had the growth of GDP of 7.3% in comparison with the year of 2013 and Vietnam had the growth of GDP of 6% in comparison with the year of 2013. In addition, in Europe, Germany, the United Kingdom and other European nations have had good economy development in the recent time. For example, in 2014, Germany had the growth of GDP of 1.7% in comparison with the year of 2013 and the United Kingdom had the growth of GDP of 2.9% in comparison with the year of 2013 (The World Bank, 2016). Socio-culture elements Needs for electronics products of consumers in Japan and other nations in the world are significantly increasing in recent years. In detail, living standards of consumers in nations like Japan, Germany, China, India, the United Kingdom, Vietnam, etc. are enhanced. The increasing living standards of consumers lead to the increasing needs for electronics products 2
(Naganathan, 2013; Hitt et al., 2016). This is a big opportunity for Sony Corporation to enhance its future profitability. Technological elements About technological aspect, in the electronics industry, large electronics companies including Sony Corporation have had competition edges regarding technology expertise and technology innovation because it is very difficult for smaller organizations to get such competition edges. In the electronics industry, modern and innovative production equipment and technologies are extremely expensive for organizations to own and innovation of differentiated and unique electronics products are time-consuming and money-consuming processes (Dumitrescu and Scalera, 2012). For Sony Corporation, this corporation has not faced threats regarding gaining expensive manufacturing technologies and equipment and launching new differentiated products because of its large business capital and its technology expertise (Frynas and Mellahi, 2015). Environmental elements In the electronics industry, organizations including Sony Corporation have faced a threat regarding environmental pollution. In particular, the environment sustainability has been harmed by the majority of production organizations including electronics manufacturing organizations. Then, nations’ governments, especially developed nations require electronics manufacturing organizations to decrease usage of energy, usage of water and greenhouse gas emissions in their manufacturing processes and require the organizations to use waste disposal systems, and recyclable raw materials in their production activities (Benn et al., 2014). For Sony Corporation, expenses for the strategies of protection of the environment sustainability are too high per year and this is a challenge for this corporation (Sony Corporation, 2015). Legal elements In the electronics industry, organizations only assure the sustainability of business development when they conform to governments’ regulations and laws regarding consumer protection, 3
employment, business activities, environment protection, etc. European nations and Japan are extremely famous with serious laws and regulations for performing business operations of organizations in these nations. If any electronics organizations have actions that do not conform to laws and regulations of these nations, the governments will prohibit or limit business activities of these organizations (Zakaria et al., 2012). Currently, Sony Corporation conforms to governments’ laws and regulations and then, this corporation has not faced a threat regarding violation of laws and regulations (Zakaria et al., 2012; Sony Corporation, 2015). 2. Analysis of Five Forces for the electronics industry of Sony Corporation Current competition amongst electronics organizations in the electronics industry: Extremely fierce There is extremely vehement competition level between electronics organizations in the electronics industry. It is regarded as an extremely high threat for Sony Corporation. Samsung, Apple, Sony Corporation, Nokia, LG, HTC, and Dell are key electronics organizations in the global electronics industry and these organizations account for 70% of the market share of the global electronics industry (Frynas and Mellahi, 2015). In the electronics industry, the great profitability and the great business development will only belong to organizations with the continuous organizational learning and continuous innovation. Hence, the market share of big electronics organizations can be gain by smaller electronics organizations if the big electronics organizations do not have a great emphasis on conducting R&D (research and development) operations continuously (Jung, 2014). Threat of new entrants: Average In the electronics industry, there is a high profitability level for electronics organizations. Then, new entrants are attracted to enter this industry to get the great profitability that is similar with current electronics organizations. However, new entrants have to handle barriers like expertise of technology, business experience, laws of environment protection, large business capital, etc. 4
Hence, threat of new entrants in the electronics industry is in the average level (Cirjevskis, 2016). Threat of substitutes: Very low In the electronics industry, products of organizations face a very low threat of substitutes. Indeed, consumers focus much on using electronics products (mobile phones, laptops, computers, televisions, etc.) to serve their life needs and job needs. The electronics products have become an important part for life of consumers and they are difficult to be replaced by other products (Frynas and Mellahi, 2015). Thus, products of Sony Corporation only face a very low threat of substitutes. Bargaining power of consumer: Very high In the electronics industry, consumers are easy to select electronics products that are suitable with their demands because there are too many electronics products which are produced by many electronics organizations. Then, the bargaining power of consumers is much higher than electronics organizations including Sony Corporation. Although the needs for electronics products of consumers in the electronics industry are quickly increasing in recent years, consumers only like electronics products with the innovative and unique features, suitable price levels and high product quality (Naganathan, 2013). With the appropriate price levels and the high product quality, electronics brands of Sony Corporation have been preferred by many consumers in the global scale. This is a rationale why customer base of Sony Corporate is big and this corporation has been one of the biggest electronics organizations in the form of production and business sales (Sony Corporation, 2015; Frynas and Mellahi, 2015). Bargaining power of supplier: Low Sony Corporation is extremely wise to build and maintain a positive relationship with its suppliers. As a result, the suppliers of Sony Corporation offer high-quality components and items serving for its manufacturing processes on time. Bargaining power of suppliers of Sony Corporation is lower than Sony Corporation because there are many companies that would like 5
to become suppliers of Sony Corporation. Indeed, production activities of Sony Corporation need a hug number of components and items. Then, becoming suppliers of Sony Corporation will get great sales each year (Hitt et al., 2016). 3. SWOT analysis For the analysis of SWOT of Sony Corporation, it is expressed in table 1. Table 1: Analysis of SWOT of Sony Corporation Strengths of Sony Corporation Weakness of Sony Corporation  Sony Corporation has large business capital. The large capital helps it to conduct expansion of its  Sony Corporation has business activities in many nations all over the world, to conduct R&D operations effectively and greater operation to launch new products effectively. The large capital also demonstrates that Sony Corporation costs than operation has gained the high trust from investors (Dumitrescu and Scalera, 2012). costs of its rivals.  Sony Corporation has powerful electronics brands. In other words, it has had a greatly Indeed, it is not competition position in the electronics industry. Sony Corporation has created close effective in managing relationships with consumers and has had positive positions in minds of consumers (Frynas and its operation costs Mellahi, 2015). and then, italways  Sony Corporation has a various range of electronics products to meet different needs of has great operation consumers. Indeed, it has had many electronics brands and then, consumers can select costs per year (Sony electronics products according to their expectations, incomes and needs (Hitt et al., 2016). Corporation, 2015).  Sony Corporation has technological innovation and technological expertise. In particular, it has  Sony Corporation has the high willingness to use a huge amount of money to purchase advanced equipment and weak business technologies to meet its production processes annually and has a great emphasis on performing presence in Americas R&D operations to create new innovative electronics products annually (Jung, 2014). because only 3% of  Sony Corporation has high productivity and high business effectiveness in recent years. Indeed, market share of this revenues, profits and market share increase in recent years (Sony Corporation, 2015). corporation are in  Sony Corporation has the strong business presence in Europe and Asia (Sony Corporation, 2015). Americas (Cirjevskis, 2016). Opportunities of Sony Corporation Threats of Sony Corporation  Needs for electronics products of consumers in Japan and other nations across the globe are  Sony Corporation significantly increasing in recent years. Indeed, consumers in Asia, Europe and Americas are faces the high threat increasing to purchase electronics products. This will be a chance for Sony Corporation to gain regarding extremely the high future business effectiveness (Naganathan, 2013; Hitt et al., 2016). fierce competition in  Sony Corporation will get a chance in the form of enhancing its business effectiveness because the electronics the economy development of nations in Asia, Europe and Americas is stable and high (The industry. Indeed, many famous 6
World Bank, 2016). organizations in the electronics industry like Samsung, Apple, Nokia, LG, HTC, and Dell create unique and differentiated electronics products to serve consumers (Frynas and Mellahi, 2015).  Sony Corporation faces the high threat regarding assuring the environment sustainability. Expenses for Sony Corporation to retain the environment sustainability are too high annually (Benn et al., 2014; Sony Corporation, 2015).  Sony Corporation faces the average threat regarding business activities of new entrants who would like to enter the electronics industry to get the market share from Sony Corporation (Cirjevskis, 2016). II. Future business solution for achieving incremental value addition 1. Balanced Score Card Financial perspective 7
During the period of 2011-2015, Sony Corporation’s cash flow increased, the revenues and profits of this corporation also increased, and the shareholder return of this corporation also increased. Financial results of Sony Corporation will be forecasted to increase substantially in the next two years (Annual reports of Sony Corporation during the period of 2011-2015. Hence, the financial results of Sony Corporation from 2011 to 2015 were high and will be high in the next two years. However, this corporation did not control its operation costs during the period of 2011-2015 and then, its operation costs were higher than its rivals in the electronics industry (Sony Coporation, 2015). Sony Corporation has weak business presence in Americas because only 3% of market share of this corporation are in Americas. The market share of this corporation in the United States is 1% (Cirjevskis, 2016). It is important for Sony Corporation to increase its business presence in Americas because needs for electronics products in Americas are increasing significantly (Frynas and Mellahi, 2015). Customer perspective From 2011 to 2015, customers of Sony Corporation had the great satisfaction level on electronics products of this corporation because this corporation regarded values of consumers as its own values. The market share of Sony Corporation was high in the electronics industry and this corporation was regarded as a large electronics corporation in this industry from 2011 to 2015. The price levels of electronics products of Sony Corporation were suitable with its product quality, and were competitive with its competitors and were reasonable during the period of 2011 to 2015 (Hitt et al., 2016). Hence, during the period of 2011-2015, Sony Corporation had the strong relationship with its customers and gained the high supports from its customers like offering positive word-of-mouth comments for electronics products of this corporation, and buying more electronics products of this corporation (Baines et al., 2016). Internal process perspective From 2011 to 2015, Sony Corporation used advanced technologies to manage all business risks, to create differentiated and innovative electronics products, to handle problems of its customers suitably and to increase positive interactions between its staffers and its customers. 8
As a result, Sony Corporation has created the high-quality electronics products, and has gained the high customer satisfaction index (Cirjevskis, 2016). Learning & growth perspective Sony Corporation had a high increase in sales from 2011 to 2015. In fact, Sony Corporation regards continuous learning and innovation as the methods for gaining competitive advantages like high business effectiveness, differentiation in electronics products, high customer loyalty level, etc. In detail, Sony Corporation encourages its staffers to make contributions of innovative ideas for developing unique and differentiated electronics products and provides valid rewards for such innovative ideas. Moreover, this corporation constantly provides training programs for its staffers so that its staffers can gain new knowledge and skills to use advanced technologies to create new electronics products to serve changing needs of its customers (Hitt et al., 2016; Cirjevskis, 2016). 2. Strategy Map Methodologies Based on the classical Strategy Map of Kaplan and Norton (2001), this report proposes the Strategy Map for Sony Corporation in the future as follows: Figure 1: Strategy Map for Sony Corporation 9
The Strategy Map for Sony Corporation includes the following aspects: Enhancement of financial results To increase long-term shareholder value, Sony Corporation needs to conduct two main strategies, that is, (1) productivity strategy and (2) growth strategy. In particular, for the productivity strategy, Sony Corporation needs to improve the effectiveness of operation cost management by improving procurement costs, conducting economic value analysis, reducing business costs, and improving working capital management and needs to infrastructure optimization by conducting capacity management, building smooth business processes, conducting maximum asset utilization and focusing much on managing business turnaround time (Barad and Dror, 2008). For the growth strategy, Sony Corporation needs to increase revenue streams by entering new business markets, especially new business markets in Americas, conducting product innovation and performing strategic alliances and needs to build 10
customer value to increase customer base, to increase customer loyalty and to increase customer profitability (Lueg, 2015). Customer value proposition Sony Corporation needs to focus much on main factors like product price, product quality, product function, product creation time, relationship with customers, and brands. For the electronics product price, Sony Corporate needs to offer the competitive and reasonable product price levels for its electronics products so that it can attract more potential customers. The quality of electronics products has to be high and the function of the electronics products has to be innovative. The time for creating new electronics products must be fast so that consumers have positive thoughts about the innovation capability of Sony Corporation. Sony Corporation needs to consider customers as its partners so that both its customers and it will gain the high benefits from offering of electronics products. In particular, Sony Corporation will gain the high revenues from purchases of its customers and its customers will gain differentiated and unique electronics products from it. In addition, Sony Corporation needs to focuses much on building positive brand image in terms of respecting benefits of customers so that customers have great supports for its electronics products (Moosavirad and Ghodsian,2016). Enhancement of the effectiveness of internal process Sony Corporation needs to increase the effectiveness of four main internal processes, that is, (1) operations management process, (2) customer management process, (3) innovation process and (4) regulatory and social process. For the operations management process, Sony Corporation needs to manage operational risks, logistics operations, distribution, production, supply chain and procurement. For the customer management process, Sony Corporation needs to grow customer base, retain customers, and investigate needs and expectations of customers. For the innovation process, Sony Corporation needs to conduct R&D activities continuously and is willing to spend a large amount of money to buy modern technologies to serve innovation of electronics products. In addition, for the regulatory and social process, Sony 11
Corporation needs to complete social responsibilities well, needs to conform to health & safety regulations, needs to have fair treatment for its employees, needs to conduct the employment of employees according to laws, and needs to have positive corporate governance (Elahi et al., 2014). Enhancement of the effectiveness of learning & growth Sony Corporation needs to pay much attention to three main aspects to assure the effective organizational learning and the high business growth, namely, (1) human capital, (2) information capital and (3) organization capital. In terms of the human capital, Sony Corporation needs to offer constant trainings to its employees so that it can increase competencies, skills, knowledge and positive attitudes of its employees. For the information capital, Sony Corporation needs to have effective information communication technologies and modern systems for storing organizational information. In addition, for the organization capital, Sony Corporation needs to create positive organizational culture ensuring organizational justice, needs to require leaders to have effective leadership styles like transformational leadership and democratic leadership, needs to increase the solidarity between organizational members, needs to increase the effectiveness of teamwork and needs to respect shared values (Olia et al., 2010). III. Wider implications for convincing Sony Corporation to conduct organizational change To gain the high business growth in the future, Sony Corporation needs to conduct organizational change because Sony Corporation faces the high threat regarding extremely fierce competition in the electronics industry. Sony Corporation faces the average threat regarding business activities of new entrants who would like to enter the electronics industry to get the market share from Sony Corporation. Sony Corporation has greater operation costs than operation costs of its rivals and has weak business presence in Americas. If Sony Corporation does not conduct the organizational change, this corporation will continue facing the threats and will not improve its own weaknesses. In addition, this corporation will not gain opportunities regarding increasing needs for electronics products of consumers in the world 12
and high economy development of nations in Asia, Europe and Americas. The organization change includes expansion of business markets, enhancement of customer management, enhancement of management of internal processes and enhancement of learning & growth aspects. PART TWO – EVIDENCE REVIEW I. A critique of chosen literature regarding Strategy Maps and Balanced Score Card 1. Literature regarding Balanced Score Card In terms of Balanced Score Card, there are four main aspects, that is, (1) financial aspect, (2) customer aspect, (3) internal business process aspect and (4) learning & growth aspect. The four main aspects create good conditions for organizations to gain the valid vision and the effective business strategy (Chavan, 2009) (see figure 2). The Balanced Score Card is a strategic management and planning system which is extensively applied by organizations to align activities of business to vision and the business strategy of the organizations, to improve external and internal communications and to monitor organizational effectiveness against strategic purposes (Poureisa et al., 2013). The Balanced Score Card suggests that people can view an organization from four aspects and can evaluate the organization from the four aspects. The first aspect is financial aspect. Investors and other stakeholders of an organization can evaluate financial aspect of the organization through indicative factors like cash flow, return on assets, return on investment, economic value added, profits, revenues, costs, etc. The second aspect is customer aspect. Investors and other stakeholders of an organization can evaluate the customer aspect through indicative factors like customer purchase, customer retention, customer loyalty, market share, customer satisfaction, and profit by customer segment. The third aspect is internal business process aspect. Investors and other stakeholders of a company can evaluate the effective of internal business processes through indicative elements like process quality, innovation, costs, turnaround time, etc. The last aspect is learning & growth of an organization. The effectiveness 13
of learning & growth aspects is expressed through elements like efficiency of information systems, decision support systems, knowledge management, and employee engagement (Ridwan et al., 2013). Figure 2: Balanced Score Card Source: Kaplan and Norton (1996) When an organization manages its financial aspect well and focuses much on increasing its financial results over time, its current investors will become loyal to it and its potential investors will be attracted by it. On the other hand, when a company manages its financial aspect ineffectively and does not have the effective solutions for improving its negative financial results over time, its current investors are willing to sell their stocks and its potential investors will not want to invest their money into such company (Greatbanks and Tapp, 2007). Thus, it is important for organizations to pay much attention to increase the effectiveness of financial perspective to retain current investors and to attract potential investors (Zizlavasky, 2014). 14
When an organization focuses much on investigating expectations and desires of customers and has a great emphasis on meeting these expectations and desires, it will gain the high customer base, will build positive relationships with its customers, will attract more potential customers, and will have high positions in minds of its customers. The high market share will be gained by organizations that consider values of their customers as the priority in business and increase values for their customers over time (Lueg, 2015). Customers always expect that they can purchase products/ services that are high-quality and suitable-price. Customers will have positive word-of-mouth for companies that respect values and expectations of the customers and will have negative comments for companies that only focus much on maximizing the benefits of shareholders and harm benefits of customers (Elahi et al., 2014). Hence, it is necessary for organizations to be interested in managing customer relationship by improving the values of products/ services continuously according to desires of customers (Chavan, 2009). Through Balanced Score Card, managers can know how well their business processes are running and to evaluate whether their products/ services meet requirements of customers. It is necessary for managers to have careful design for their internal business process so that all business processes are smooth and the business performance is high due to the smooth business processes (Poureisa et al., 2013). The managers must pay much attention to many elements like procurement, supplier relationship management, brand management, logistics efficiency, development of new products/ services, standard operation procedures, cross- functional service level, service level, order cycle time, business operations, innovation capability (Ridwan et al., 2013). When the managers ensure the positive management of these elements, the internal business processes become effective and smooth (Poureisa et al., 2013; Zizlavsky, 2014). The high business performance will be gained by an organization when it has good organizational learning and growth. To ensure the positive organizational learning and growth perspective, an organization must ensure the high effectiveness of employee engagement, employee competency enhancement, excellent information systems, technological innovations, organizational alignment, positive organizational climate, and shared values. Indeed, employees 15
will become highly committed with an organization that encourages employee engagement and then, the employees can affect the decision-making of managers, and can become more innovative in their job processes. Organizations that focus much on offering training programs constantly to their employees will enhance their employees’ competencies, skills and knowledge and the high competencies, skills and knowledge will enhance the innovative capabilities and will enhance the communication effectiveness with customers. In current environment, information systems are crucial factors determining the effectiveness of organizational learning because the information systems will create good conditions for organizational members to share and exchange information in the most effective and quickest ways. Technology innovations will help organizational members to learn new knowledge and new skills. In addition, organizations need to pay much attention to organization climate that increase the solidarity between organizational members and ensure organizational justice (Elahi et al., 2014; Lueg, 2015). 2. Literature regarding Strategy Map A Strategy Map is a diagram which describes how a company creates values by connecting strategic goals in four aspects (financial aspect, customer aspect, internal business process aspect and learning & growth aspect) (see figure 3). There are five key principles behind Strategy Map, that is, (1) strategy balances contrast elements, (2) strategy is dependent upon a differentiated/ unique customer value proposition, (3) strategy includes complementary and simultaneous themes, (4) value is created through process of internal business, and (5) strategic alignment decides the values of intangible asset (Quezada et al., 2009). Creation of values through intangible assets is indirect but can be incremental through a range of cause and effect relations and creation of values will be associated with the context that intangible asset is aligned (Olia et al., 2010). The Strategy Map transfers the strategy into high focus for actions, creation of values and measurement of performance (Jassbi et al., 2011). Themes of value creation can be (1) customer centricity, (2) world class accreditation, (3) just in time, (4) waste management, (5) new product development, (6) internal organizational development, (7) organizational engagement and (8) relationship management (Moosavirad and Godsian, 2016). 16
The strategic themes create good conditions for organizations to enhance long-term shareholder values through the strategy of productivity and the strategy of growth, to create valid customer value propositions, to conduct operations management effectively, to perform customer management well, to implement innovation management efficiently, to conduct regulatory and social management effectively, to increase human capital, to enhance information capital and to increase organizational capital (Barad and Dror, 2008). The Balanced Score Card achieves a system of performance measurement for conduction of vision and strategy through organizational alignment, with a high focus on measurable results. The Balanced Score Card proves the strategic goals can be gained by linking causal relations through four aspects of the Balanced Score Card. The notion of linkage creates the Strategy Map. The Strategy Map has been regarded as a crucial innovation from the Balanced Score Card. The Strategy Map has a description regarding how values are created, how strategic themes create new values and how intangible asset alignment achieves strategic results for creation of values in the long time. In simple terms, the Strategy Map reflects how organizations can create values for sustainability of business, derived from four aspects in the Balanced Score Card and then, it offers the important link amongst formulation of strategy and implementation of strategy (Olia et al., 2010). Figure 3: Strategy Map 17
Source: Kaplan and Norton (2001) For the four aspects in the Balanced Score Card (financial aspect, customer aspect, internal business process aspect and learning & growth aspect), organizations must identify objectives, must give measurements, must have targets, must have cost evaluations. For example, an organization has a strategic theme regarding development of new product. The organization must identify objectives of development of new product, measurements to evaluate the achievement of the objectives, targets to be gained, and cost evaluations for conducting the development of new product (Jassbi et al., 2011). Enhancement of long-term shareholder values is very important for organizations to gain the high positions in their business markets. To enhance the long-term shareholder values, the organizations must pay much attention to customer value propositions, customer growth, customer retention, customer purchase, customer selection, marketing, competitor analysis, customer care, employee training programs, customer relationship management, information technology communications, and sales management. In addition, the organizations must pay 18
much attention to manage customer feedback, information sharing between organizational members, marketing leadership, and innovations of products/ services (Moosavirad and Ghodsian, 2016). When the organizations ensure the balance between financial aspect, customer aspect, learning & growth aspect and internal business process aspect, they will gain the sustainable business growth in the long time and will gain the sustainable competitive advantages such as high market share, high customer base, high customer loyalty, unique and differentiated products/ services, technological innovation, technology expertise, etc. (Lueg, 2015). II. Positive business transformation for the sustainability of business in the future After reviewing key theories regarding Balanced Score Card, and Strategy Maps, there are three key aspects which organizations can emphasize to have good business transformation to enhance the future business sustainability as follows: First, organizations must create positive working environment to have the good business transformation to enhance the future business sustainability. In detail, the positive working environment will encourage staffers to work based on their teams, will assure mutual respect and support amongst the staffers, will create challenging jobs for staffers and will allow job autonomy of the staffers. All things will create an advantaged condition for the organizations to achieve the future business sustainability. Second, organizations must create positive organizational culture which supports organizational change, increases organizational innovation and focuses much on meeting needs of customers. When the organizations can create such organizational culture, the organizations will be the leading organizations in innovation of products/ services and will have high positions in thoughts of consumers. The consumers have positive comments about the brands of the organizations. Last, organizations must concentrate much on satisfying expectations and needs of staffers for performing organization changes rather than forcing the staffers to perform the organizational 19
changes only according to expectations of the top management. Then, the organizations will gain the positive business transformation to enhance the future business sustainability. Indeed, organizations need to investigate needs and expectations of staffers for performing organizational changes and need to explain the importance of organizational changes for the staffers to gain the support from the staffers rather than resistance from the staffers. PART THREE – REFLECTION FOR ENHANCEMENT OF EMPLOYABILITY I. Core capabilities and critical thinking are needed to achieve the task of consultancy for Sony Corporation Core capabilities of a consultant for performing the task of consultancy for Sony Corporation effectively are that the consultant has to have adequate forecast about the future of Sony Corporation within the next two years so that the consultant can give effective solutions for solving problems and risks regarding the business operations of this corporation and that the consultant has to have the high ability of persuasion and the effective ability of communication to make the client organization put the great trust in suggested solutions. In addition, to achieve the task of consultancy for Sony Corporation in terms of organizational change, a consultant has to have the critical thinking about external environment elements and internal environment elements which can influence the business effectiveness of this corporation so that the consultant can give suitable and flawless solutions for changing inefficient organizational aspects, and developing efficient organizational aspects. In detail, the consultant has to know actions of competitors of Sony Corporation in the future, changes in demands of consumers in the future, governmental expectations in the electronics industry in the future, input expenses of Sony Corporation, business effectiveness of Sony Corporation in the future, the economy growth level of the electronics business markets of Sony Corporation, capability of production of Sony Corporation, speed of change in technologies in the electronics industry, the competition level between electronics organizations, business strategies of competitors of Sony Corporation, competitive strategies of competitors of Sony Corporation and strategies of development of new products of competitors of Sony Corporation. 20
II. My competencies, skills and knowledge for effectively completing the task of consultancy for Sony Corporation I have had high knowledge regarding opportunities and threats in the external environment of Sony Corporation, current productivity and current business performance of this corporation and weaknesses and strengths of this corporation. In detail, Sony Corporation is facing the threat in terms of fierce competition in the electronics industry, the threat of maintaining the environment sustainability, and the threat of new entrants. Sony Corporation can gain business opportunities from the increasing needs of consumers for electronics products in the world, and stable economic development of nations in Asia, Europe and Americas. Strengths of Sony Corporation are as follows: Strong business presence in Europe and Asia, technological innovation and expertise, a various range of electronics products, powerful electronics brands, and large business capital. However, weaknesses of Sony Corporation are as follows: High business operation costs and weak business presence in Americas. Hence, I assure that suitable and flawless solutions regarding organizational change for Sony Corporation will be suggested from my high knowledge. My communication skill, my listening skill and persuasion skill are effective and then, I can convince organizational members of Sony Corporation to perform organization change in the effective ways. In detail, I am a confident individual in interacting and communicating with people to express my goals and expectations and I always listen to viewpoints of other people because listening to viewpoints of other individuals will create an advantaged condition for me to make more effective decisions and will show my respect to their viewpoints. Moreover, I have had the high ability to convince other individuals to believe my decisions and solutions because I always make decisions and give solutions after making references to ideas of other individuals and after evaluating issues carefully. III. Leadership skills related to consultancy are required for future individual development and future career accession Effective leadership skills are extremely needed for the success of an independent consultant. In detail, the consultant is an outsider to an organization and he/ she always support the 21
organization to perform organizational change effectively. The majority of staffers inherently have resistance to organizational changes, especially when the organizational changes are proposed and begun from the outsider (consultant) because of uncertainty and fear. When lacking effective leadership skills, a consultant’s flawless solutions for organizational change will not be successful in performing because of the organizational members’ resistance (Moore, 2016). Leadership skills regarding consultancy are about inspiring organizational members to conduct what the consultant wants them to perform. In order to increase the efficiency of organizational changes, a consultant needs to prove his or her leadership skills to make organizational members to work with him or her in performing organization change (Stanier, 2016). Effective leadership skills of a consultant begin from a deep understanding about the problems of his or her corporate clients such as unclear communication system, low profits, low sales, staff conflicts, slow business development, etc. and then, the consultant has to convince organizational members about the efficiency of performing organization change. In addition to the high knowledge regarding problems of his or her corporate clients and skill of persuasion, a consultant needs to have other consultancy-related leadership skills like effective listening skill, skill of building relationship, and effective communication skill to increase the trust of his or her corporate clients in his or her problem-solving solutions. In detail, regarding the listening skill, when solutions of a consultant for performing corporate changes are resisted by corporate members, the consultant needs to listen to needs and expectations of the corporate members and then, he or she should explain that conduction of organizational change will be needed and useful for the corporate members (Moore, 2016). Concerning about the skill of building relationship, the consultant has to know the approach to satisfy his or her corporate clients and the consultant has to build positions relationships with leaders and managers who have high effects on organizational change. For the communication skill, the consultant has to conduct active communications with his or her corporate clients so that the clients can express their problems and the consultant can indicate the significance of organizational change for organizational members. In general, in addition to the high knowledge regarding task of consultancy, leadership skills regarding consultancy that are required for future career 22
accession and future individual development are effective skills for building relationship, effective listening skill, effective communication skill and effective persuasion skill. 23
REFERENCES Baines, P., Fill, C. and Rosengren, S. (2016). Marketing. Oxford: Oxford University Press. Barad, M. and Dror, S. (2008). Strategy maps as improvement paths of enterprises. International Journal of Production Research, 46(23), pp. 6627-6647. Benn, S., Dunphy, D. and Griffiths, A. (2014). Organizational change for corporate sustainability. New York: Routledge. Chavan, M. (2009). The balanced scorecard: a new challenge. Journal of Management Development, 28(5), pp. 393 – 406. Cirjevskis, A. (2016). Designing dynamically “signature business model” that support durable competitive advantage. Journal of Open Innovation: Technology, Market and Complexity, 2(15), pp. 1-21. Dumitrescu, C. and Scalera, F. (2012). Strategies of multinational enterprises. International Journal of Business and Commerce, 1(7), pp. 12-26. Elahi, S., Hoseini, S. H., Dadress, M. and Zafari, N. (2014). Design of a strategic map for manufacturing companies utilizing important performance index of balanced score card and DEMATEL (case study: Mihan corporations). Journal of Industrial Management Tehran University, 6(1), pp. 1-22. Frynas, J. G. and Mellahi, K. (2015). Global strategic management. Oxford: Oxford University Press. Greatbanks, R. and Tapp, D. (2007). The impact of balanced scorecards in a public sector environment; Empirical evidence from Dunedin City Council, New Zealand. International Journal of Operations & Production Management, 27(8), pp. 846–873. 24
Hitt, M. A., Ireland, R. D. and Hoskisson, R. E. (2016). Strategic management: Concepts: Competiveness and globalization. New York: Cengage Learning. Jassbi, J., Mohamadnejad, F. and Nasrollahzadeh, H. (2011). A fuzzy DEMATEL framework for modeling cause and effect relationships of strategy map. Expert Systems with Applications, 38(5), pp. 5967-5973. Jung, S. C. (2014). The analysis of strategic management of Samsung Electronics Company through the generic value chain model. International Journal of Software Engineering and Its Applications, 8(12), pp. 133-142. Kaplan, R. S. and Norton, D. P. (1996). The Balanced Scorecard: Translating strategy into action. Boston: HBS Press. Kaplan, R. S. and Norton, D. P. (2001). The strategy-focused organization: how balanced scorecard companies thrive in the new competitive environment. Boston: HBS Press. Lueg, R. (2015). Strategy maps: the essential link between the balanced scorecard and action. Journal of Business Strategy, 36(2), pp. 34-40. Moore, R. (2016). Life leverage: how to get more done in less time, outsource everything & create your ideal mobile lifestyle. New York: John Murray Learning. Moosavirad, S. H. and Ghodsian, H. (2016). Strategy map of Iran technical and vocational training organization. Journal of Administrative Management, Education and Training, 12(4), pp. 106-116. Naganathan, V. (2013). A comparative analysis on Sony’s approach to problem solving and decision-making. International Journal of Management and Business Research, 3(1), pp. 69-88. Olia, M. S., Mirghafoori, S. H.and Shahvazian, S. (2010). Establishment of an organizational strategic map utilizing ISM (interactive structural modeling): Case study on Yazd Baspar 25
corporations. Scientific and Research Journal of Business Management Discoveries, 4(2), pp. 92- 106. Poureisa, A., Ahmadgourabi, M. B. A. and Efteghar, A. (2013). Balanced scorecard: a new tool for performance evaluation. Interdisciplinary Journal of Contemporary Research in Business, 5(1), pp. 974-978. Quezada, L. E., Cordova, F. M., Palominos, P., Godoy, K. and Ross, J. (2009). Method for identifying strategic objectives in strategy maps. International Journal of Production Economics, 122(1), pp. 492-500. Ridwan, R., Harun, H., An, Y. and Fahmid, I. M. (2013). The impact of the balanced scorecard on corporate performance: the case of an Australian public sector enterprise. International Business Research, 6(10), pp. 103-110. Schmidt, S. W., Shelley, M. C. and Bardes, B. A. (2016). American government and politics today. New York: Cengage Learning. Sony Corporation. (2011). Annual report of Sony Corporation in 2011. [Online]. Available from https://www.sony- latin.com/corporate/SOLA/acerca/infocorporativa/pdf/info_financiera/SonyAR11-E.pdf (Accessed 03 February, 2017). Sony Corporation. (2012). Annual report of Sony Corporation in 2012. [Online]. Available from https://www.sony- latin.com/corporate/SOLA/acerca/infocorporativa/pdf/info_financiera/SonyAR12-E.pdf (Accessed 03 February, 2017). Sony Corporation. (2013). Annual report of Sony Corporation in 2013. [Online]. Available from https://www.sony.net/SonyInfo/IR/library/ar/2013/shr/pdf/AnnualReport_E.pdf (Accessed 03 February, 2017). 26
Sony Corporation. (2014). Annual report of Sony Corporation in 2014. [Online]. Available from http://www.sony.net/SonyInfo/IR/library/fr/13q4_sony.pdf (Accessed 03 February, 2017). Sony Corporation. (2015). Annual report of Sony Corporation in 2015. [Online]. Available from https://www.sony.net/SonyInfo/IR/library/FY2014_20F_PDF.pdf (Accessed 03 February, 2017). Stanier, M. B. (2016). The coaching habit: Say less, ask more & change the way you lead forever. New York: Box of Crayons Press. The World Bank. (2016). GDP growth (annual %). [Online]. Available from http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG (Accessed 03 February, 2017). Zakaria, M., Garanca, Z. and Sobeih, A. (2012). Cultural and legal challenges in implementing code of conduct in supply chain management of mobile phone industries: Sony Ericsson case study. Social Responsibility Journal, 8(2), pp. 227-241. Zizlavsky, O. (2014). The balanced scorecard: innovative performance measurement and management control system. Journal of Technology Management & Innovation, 9(3), pp. 210- 222. 27
Bạn đang phải vừa học vừa làm. Các bài ESSAY, ASSIGNMENT, DISSERTATION, COURSEWORK... làm cho bạn cảm thấy lo lắng và căng thẳng. Với 5 năm kinh nghiệm , mình tự tin sẽ giải quyết mọi bài vở theo yêu cầu từ A đến Z cho các bạn du học sinh. Đừng chần trừ hãy liên hệ ngay với mình. Mr Đỗ Tấn Hoàng dotanhoang91@gmail.com https://www.slideshare.net/HoangDoTan một số bài mình đã làm để các bạn tham khảo Cảm ơn các bạn đã và đang ủng hộ mình trong 5 năm qua #assignmenthelp #dissertationhelp Kết nối với mình tại: Facebook: https://www.facebook.com/dotanhoang91

More Related Content

PDF
Drafting and Implementing a Disability Policy
byCharles Cotter, PhD
 
PPTX
WORKSHOP 1 – TURNING STRATEGY INTO GREAT PERFORMANCE
byCFG
 
PPTX
STRATEGIC MANAGEMENT PROCESS - Featuring Policy-Strategy Interlock
byTANKO AHMED fwc
 
PDF
Performance Assessment of Agricultural Research Organisation Priority Setting...
byiosrjce
 
PDF
Balanced Business Scorecard & Performance Management: Best Practice process a...
byCharles Cotter, PhD
 
PPTX
Diagnosis of the strategic maturity of HRM and L&D practices (Africa)
byCharles Cotter, PhD
 
PDF
Strategy Development and Implementation
byAmin Senin
 
PPTX
project management
byEngr. naeem
 
Drafting and Implementing a Disability Policy
byCharles Cotter, PhD
 
WORKSHOP 1 – TURNING STRATEGY INTO GREAT PERFORMANCE
byCFG
 
STRATEGIC MANAGEMENT PROCESS - Featuring Policy-Strategy Interlock
byTANKO AHMED fwc
 
Performance Assessment of Agricultural Research Organisation Priority Setting...
byiosrjce
 
Balanced Business Scorecard & Performance Management: Best Practice process a...
byCharles Cotter, PhD
 
Diagnosis of the strategic maturity of HRM and L&D practices (Africa)
byCharles Cotter, PhD
 
Strategy Development and Implementation
byAmin Senin
 
project management
byEngr. naeem
 

What's hot

PPTX
Strategic planning
byOmar Abisaí Coronado Mondragon
 
PPTX
Strategic Planning
byJhosa Lei Zabala
 
PPTX
Strategy Development Process
byDr. John Persico
 
PPTX
Understanding strategic development
byMazhar Iftikhar (mazhariftikhar@gmail.com)
 
PPT
New strategic thinking by OD Consultant Rey Halili
byReynaldo Halili
 
PDF
Understanding the Dynamics of Strategic Planning
byJo Balucanag - Bitonio
 
PPTX
Project Leadership and Change Management
byCharles Cotter, PhD
 
PPTX
ST501 Group Project - PAN.ppt
byPamela Dehollander
 
PPT
Transformation Of HR at AgustaWestland-Philadelphia
bySal LoDico
 
PDF
Strategic Alignment with AlignComm
bypetersamson
 
PPT
Strategic Thinking
byJohn Cousins
 
PPT
Strategic Planning
byJo Balucanag - Bitonio
 
PPTX
STRATEGY IMPLEMENTATION: TURNING GREAT STRATEGY INTO GREAT PERFORMANCE
byTANKO AHMED fwc
 
PPTX
Best Practice: Transformational Leadership_BSC_PM
byCharles Cotter, PhD
 
PPTX
Strategic Planning Introduction
byJon R Wallace
 
PPT
Ccb strat plan (2)
byHabtamu Tezera
 
PDF
Strategic thinking
byDr. Markus Alsleben
 
PDF
Determinants of successful strategic plan implementation lessons from the chu...
byAlexander Decker
 
PDF
Setzer Group Boston About Us
byCamila de Wit Giesemann
 
PPT
Competing On Resources Balance Scorecard
byvinod63
 
Strategic planning
byOmar Abisaí Coronado Mondragon
 
Strategic Planning
byJhosa Lei Zabala
 
Strategy Development Process
byDr. John Persico
 
Understanding strategic development
byMazhar Iftikhar (mazhariftikhar@gmail.com)
 
New strategic thinking by OD Consultant Rey Halili
byReynaldo Halili
 
Understanding the Dynamics of Strategic Planning
byJo Balucanag - Bitonio
 
Project Leadership and Change Management
byCharles Cotter, PhD
 
ST501 Group Project - PAN.ppt
byPamela Dehollander
 
Transformation Of HR at AgustaWestland-Philadelphia
bySal LoDico
 
Strategic Alignment with AlignComm
bypetersamson
 
Strategic Thinking
byJohn Cousins
 
Strategic Planning
byJo Balucanag - Bitonio
 
STRATEGY IMPLEMENTATION: TURNING GREAT STRATEGY INTO GREAT PERFORMANCE
byTANKO AHMED fwc
 
Best Practice: Transformational Leadership_BSC_PM
byCharles Cotter, PhD
 
Strategic Planning Introduction
byJon R Wallace
 
Ccb strat plan (2)
byHabtamu Tezera
 
Strategic thinking
byDr. Markus Alsleben
 
Determinants of successful strategic plan implementation lessons from the chu...
byAlexander Decker
 
Setzer Group Boston About Us
byCamila de Wit Giesemann
 
Competing On Resources Balance Scorecard
byvinod63
 

Similar to 1

PPTX
Strategic Management lecture # 13
byHijratullah Tahir
 
PPTX
Strategic Management lecture # 14
byHijratullah Tahir
 
PPTX
Balance Scorecard -.pptx
byLEONYVITAARTANTI
 
PDF
Balanced Scorecard : Brief Understanding
byxpramudono
 
PPT
str_mgnt_1comp_mode[2].ppt and its components
bynaouad23
 
PPT
Pl 3 Effective Planning Models
byJo Balucanag - Bitonio
 
PPT
Balanced Scorecard
byMulyono Joyo
 
PPT
Bsc
byMulyono Joyo
 
PPT
Balanced Scorecard
byMulyono Joyo
 
PPT
Balanced score card
bytkang87
 
PDF
Human Resource Management - G.O.L TEAM by Mr. Sherif Osman
byMostafa Mahmoud
 
PPT
BalanceScorecard-AnEffectiveTool
byjshreemdra
 
PPTX
Effective Planning Models
byJo Balucanag - Bitonio
 
PPTX
1.introduction
byMaharaNSM
 
PPTX
THE TIME SAVING BENEFITS OF USING BALANCED SCORE CARD AT THE WORKPLACE
byAbraham Ncunge
 
PPTX
balance-scorecard-bsc.pptx
byErsignDLozano
 
PPTX
Strategy planning for small digital companies
byProject Management Solutions
 
PDF
8 a bsc
byAkash Tripathi
 
PPTX
Strategic planning
bySara Mostafa
 
PPT
Strategic thinking and alignment 01.10.10
byNational HRD Network
 
Strategic Management lecture # 13
byHijratullah Tahir
 
Strategic Management lecture # 14
byHijratullah Tahir
 
Balance Scorecard -.pptx
byLEONYVITAARTANTI
 
Balanced Scorecard : Brief Understanding
byxpramudono
 
str_mgnt_1comp_mode[2].ppt and its components
bynaouad23
 
Pl 3 Effective Planning Models
byJo Balucanag - Bitonio
 
Balanced Scorecard
byMulyono Joyo
 
Bsc
byMulyono Joyo
 
Balanced Scorecard
byMulyono Joyo
 
Balanced score card
bytkang87
 
Human Resource Management - G.O.L TEAM by Mr. Sherif Osman
byMostafa Mahmoud
 
BalanceScorecard-AnEffectiveTool
byjshreemdra
 
Effective Planning Models
byJo Balucanag - Bitonio
 
1.introduction
byMaharaNSM
 
THE TIME SAVING BENEFITS OF USING BALANCED SCORE CARD AT THE WORKPLACE
byAbraham Ncunge
 
balance-scorecard-bsc.pptx
byErsignDLozano
 
Strategy planning for small digital companies
byProject Management Solutions
 
8 a bsc
byAkash Tripathi
 
Strategic planning
bySara Mostafa
 
Strategic thinking and alignment 01.10.10
byNational HRD Network
 

More from Hoang Do Tan

Recently uploaded

PPTX
Shaping Tomorrow: The Next Chapter for Irish Research Libraries
byCONUL Conference
 
PPTX
CHAPTER 4. Size Reduction, Size Separation, Mixing, Filtration, Drying, Extra...
bySharibJamal
 
PDF
Old Historicism vs New Historicism Slides
byDr. Ilyas Babar Awan
 
PPTX
Cultivation practice of Cucumber, Pumpkin and summer squash in Nepal.pptx
byUmeshTimilsina1
 
PPTX
Collecting and preserving: new imperatives and new challenges. Speaker: Richa...
byCONUL Conference
 
PPTX
Aligning Ireland’s Open Repository Network by Strengthening Shared Standards ...
byCONUL Conference
 
PPTX
Archival literacy and engagement through Brightspace: the new Special Collect...
byCONUL Conference
 
PPTX
Thriving in Uncertain Times: Building on the past, positioning for the future...
byCONUL Conference
 
PDF
Teaching and Learning (BD1TL) - B.Ed TNTEU
byDr Raja Mohammed T
 
PDF
Result Analysis of the Pre Board 2025 .pdf
byDirectorate of Education Delhi
 
PPTX
All Things 2025 - A Year in Review Quiz!
byShashank Jogani
 
PDF
How to Report Cyber Fraud in India: Your Digital First Aid Kit (2025 Guide)
bySanjay Rathod
 
PDF
Unit 4: Polynuclear Hydrocarbons | Pharma Organic Chemistry
bySandeshSul
 
PPTX
Cultivation practice of Root vegetables.pptx
byUmeshTimilsina1
 
PPTX
Bookish Bats: a unique sustainable delivery service in the Russell Library. A...
byCONUL Conference
 
PDF
• Reinforcing the Human Firewall: Moving From Awareness to Applied Skill
byAdityarajsinh Gohil
 
PPTX
Digital Equity and inclusivity: Librarians connecting the unconnected rural ...
byCONUL Conference
 
PPTX
Cardiovascular System or The Details of Heart.pptx
byAshish Umale
 
PDF
DNA.CEO: DNA-Computing For Kids, Teens, & Dummies (Like Me)
byVladislav Solodkiy
 
PPTX
Introduction to Mendelian inheritance.pptx
bypramodphirke1
 
Shaping Tomorrow: The Next Chapter for Irish Research Libraries
byCONUL Conference
 
CHAPTER 4. Size Reduction, Size Separation, Mixing, Filtration, Drying, Extra...
bySharibJamal
 
Old Historicism vs New Historicism Slides
byDr. Ilyas Babar Awan
 
Cultivation practice of Cucumber, Pumpkin and summer squash in Nepal.pptx
byUmeshTimilsina1
 
Collecting and preserving: new imperatives and new challenges. Speaker: Richa...
byCONUL Conference
 
Aligning Ireland’s Open Repository Network by Strengthening Shared Standards ...
byCONUL Conference
 
Archival literacy and engagement through Brightspace: the new Special Collect...
byCONUL Conference
 
Thriving in Uncertain Times: Building on the past, positioning for the future...
byCONUL Conference
 
Teaching and Learning (BD1TL) - B.Ed TNTEU
byDr Raja Mohammed T
 
Result Analysis of the Pre Board 2025 .pdf
byDirectorate of Education Delhi
 
All Things 2025 - A Year in Review Quiz!
byShashank Jogani
 
How to Report Cyber Fraud in India: Your Digital First Aid Kit (2025 Guide)
bySanjay Rathod
 
Unit 4: Polynuclear Hydrocarbons | Pharma Organic Chemistry
bySandeshSul
 
Cultivation practice of Root vegetables.pptx
byUmeshTimilsina1
 
Bookish Bats: a unique sustainable delivery service in the Russell Library. A...
byCONUL Conference
 
• Reinforcing the Human Firewall: Moving From Awareness to Applied Skill
byAdityarajsinh Gohil
 
Digital Equity and inclusivity: Librarians connecting the unconnected rural ...
byCONUL Conference
 
Cardiovascular System or The Details of Heart.pptx
byAshish Umale
 
DNA.CEO: DNA-Computing For Kids, Teens, & Dummies (Like Me)
byVladislav Solodkiy
 
Introduction to Mendelian inheritance.pptx
bypramodphirke1
 

1

  • 1.
    RECOMMENDED AND REQUIREDREADING • Ackerman, F. & Eden, C. (2011), Making Strategy : Mapping Out Strategic Success, Sage Publications. 9781819201209. • Cunningham, J. & Harney, B. (2012), Strategy and Strategists, Oxford University Press. 9780199219711. • Hobbs, L. (2008), Strategic DNA, Agagte B2 Books. 9781932844367. • Ireland, Hoskisson & Hilt (2011), Strategic DNA, The Management of Strategy cases, 10 th edition, South Western Engage Learning. 97811335821681. • Jones, P. (2011), Strategy Mapping For Learning Organisations, Gower Publishing, 9780566088117. • Kaplan, R. S. & Norton, D. P. (1996), The Balanced Score Card, Harvard Business School Press. • Kaplan, R. S. & Norton, D. P. (2004), Strategy Maps : Converting Intangible Assets Into Tangible Outcomes, Harvard Business School Press. 9781591391340. Page 10
  • 2.
    STRATEGY ROAD MAPSASSIGNMENT PART 1 THE COMPANY REPORT Based upon discussions held and conclusions drawn from evidence based research, you will now adopt the role of a Strategy Consultant for a selected organisation. You are required to lead a new strategic initiative to propose and implement organisational change through the adoption of an established Strategy Map Methodology designed to inject value creation opportunities for your client and their key stakeholder groups. Your brief is to : - 1. Complete a critically evaluated situational analysis for the selected organisation to thereby establish a comprehensive understanding of current performance, productivity and competitive position against their strategic ambitions for shareholder value gains. 2. Propose a future business solution through the intervention of Balanced Score Card and Strategy Map Methodologies to achieve incremental value addition. Assess the impact upon current business practices as well as the organisational learning challenges to be addressed. Page 12
  • 3.
    3. Against theenduring value propositions for your client’s business to adopt Strategy Map Methodologies, using your own judgement, review the wider implications if the client organisation does not accept your proposals. 3000 words THIS PART OF THE ASSIGNMENT IS A MANAGEMENT REPORT FOR THE BOARD OF YOUR CLIENT ORGANISATION. PART 2 EVIDENCE REVIEW 1. Prepare a critique of selected literature related to the domain of Strategy Maps and the Balanced Score Card, then support your perspectives with other contemporary evidence deemed relevant to achieve meaningful managerial insights and conclusions. 2. Outline potential research perspectives which could be adopted to explore client business transformation for future sustainability. 2000 words THIS PART OF THE ASSIGNMENT SHOULD BE SUBMITTED IN THE FORM OF A LITERATURE REVIEW WITH POTENTIAL RESEARCH INDICATIONS. Page 13
  • 4.
    PART 3 REFLECTIONFOR EMPLOYABILITY ENHANCEMENT Complete your individual learning log of employability skills readiness, through self-reflection on current practice, to : - 1. Realise the critical thinking and core capabilities needed to achieve this consultancy task for the client organisation. 2. Evaluate your current knowledge, skills and competencies to then assess your ability for completing this consultancy assignment. 3. Review the related leadership skills required for future personal development and career accession. 1000 words THIS LEARNING LOG IS A ROLLING RECORD MAINTAINED THROUGHOUT THE DBA MODULES AND WILL BE SUMMARIESED AT THE END. Page 14
  • 5.
    THE MODULE GENERICASSESSMENT MATRIX 1. THE COMPANY CONSULTANCY REPORT 2. THE EVIDENCE REVIEW 3. REFLECTION UPON PRACTICE / APPLICATION Page 18
  • 6.
    (1) THE COMPANYCONSULTANCY REPORT Excellent Good Satisfactory Less than Satisfactory 1. Clear Introduction to the Organisational Context 2. Report Structure and Flow 3. Industry / Company Research Applied 4. Situational Analysis and Evaluation in Content • The Need for Change • Direct Application of Explicit Frameworks for Value, Strategy and Leadership • Explicit Value Propositions for Change • Concise Action Plans Proposed • Clarity of Judgement Page 19
  • 7.
    Excellent Good SatisfactoryLess than Satisfactory • How the Change will be lead • Stated Outcomes / Benefits for New Organisation • Report Style • Appendices Technical Data Analysis Situational to Company / Industry Page 20
  • 8.
    (2) EVIDENCE REVIEW ExcellentGood Satisfactory Less than Satisfactory • Academic Research Evidence related to explicit frameworks for Value, Strategy & Leadership • Direct ‘ in text ’ citation • Quality of Critique • New Insights Gained • Formation of Judgements • Logical Conclusions • Emergent Themes for Potential DBA Research • Appendices • Quality of Bibliography • Quality of In Text References Page 21
  • 9.
    (3) REFLECTION UPONPRACTICE / APPLICATION Excellent Good Satisfactory Less than Satisfactory • Ability to form Judgements • Mindset Change • Personal Skillsets Assessment for Leadership, Value Creation and Strategy Implementation • Self Critique of Competencies • Challenges Experienced • Overcoming Difficulties • New Knowledge Acquired • Theory Modification to suit Organisational Environment • Emergent Conclusions for Employability Skills • The Personal Development Agenda Page 22
  • 10.
    (4) OVERALL COMMENTS STRENGTHS AREASFOR IMPROVEMENT OVERALL GRADE Page 23
  • 11.
    DBA : AROAD MAP TO STRATEGY DETERMINATION STAGE 1. STRATEGIC REVIEW FRAMEWORK --- ISSUES, CHALLENGES, PRIORITIES AND CHOICES STAGE 2. STRATEGIC POSSIBILITIES STAGE 3. THE PEOPLE RESOURCE STAGE 4. ESSENTIAL CONDITIONS FOR SUCCESS STAGE 5. DISCOVERING BARRIERS TO CHOICES STAGE 6. TESTING THE BARRIERS STAGE 7. THE STRATEGIC CHOICE DECISION Page 30
  • 12.
    STAGE 1 STRATEGICREVIEW FRAMEWORK History and Context Drivers for Change The Need For A Solution Consequence Best and Worst Case Scenario ISSUES, CHALLENGES “ WHAT MUST BE FACED ? ” PRIORITIES “ WHAT IS IMPORTANT NOW ? ” CHOICES “ WHAT MIGHT WE DO ? ” “ WHAT ARE THE FUTURE CHOICES ? ” Macro & Micro Environmental Conditions Setting Priorities Initial Options Status Quo Facing Up To The Choices Page 31
  • 13.
    STAGE 2 STRATEGICPOSSIBILITIES • Discussion • Validity • Viability • Leverage • Strategic Logic • Resource Logic • Economic Logic • Constraints STRATEGIC POSSIBILITIES GENERATION [TWO OR MORE ] INCLUDING STATUS QUO LINKING WITH STRATEGIC INTENT “ WHAT MAY BE POSSIBLE ? ” • ‘ The Big Picture ’ • Creativity • ‘ Inside Out ’ • Elegance • Scope • Value Chain Activities Involved • Core Values • Current Strategic Direction, Vision & Mission Page 32
  • 14.
    STAGE 3 PEOPLERESOURCE THE PEOPLE RESOURCE Conventional Wisdom FOR ‘ TESTING OUT ’ External Inputs STRATEGIC POSSIBILITIES Experience Inclusion Operations “ HOW CAN CHOICE BECOME A Commitment REALITY ? ” Justification Stakeholders Hierarchy Organisation Culture Teams Facilitation Page 33
  • 15.
    STAGE 4 ESSENTIALCONDITIONS FOR SUCCESS Brand Values, Identity and Positioning Distinct Segmentation End-Use Customer Value Channel Needs Competitive Reactions Forecasted Market Landscape ESSENTIAL CONDITIONS FOR SUCCESS FOR EACH STRATEGIC POSSIBILITY “ WHAT MUST BE TRUE TO SUCCEED ? ” “ WHAT WOULD I HAVE TO BELIEVE ? ” What Must Exist Internally, Externally and Interactively Core Capabilities Competitive Distinction Costs Relative to the Competition Organisational Alignment Consensus Compliance Stakeholder Buy-In Page 34
  • 16.
    STAGE 5 BARRIERSTO CHOICES “ Which Conditions For Success Require A Guarantee ” [ This will highlight potential barriers ] “ Which Conditions For Success Will Hold Good ” DISCOVERING BARRIERS TO STRATEGIC CHOICES “ WHAT ARE THE RIGHT QUESTIONS TO HAVE ANSWERS FOR ? ” Assessment of Potential Risk Rank Ordering of Barriers Close Attention to ALL Essential Conditions For Success Page 35
  • 17.
    STAGE 6 TESTINGTHE BARRIERS Test Design Validity Focus Analysis in Depth TESTING THE BARRIERS DISCOVERED “ WHAT MUST BE KNOWN TO MAKE THE BEST DECISION ? ” Conducting The Tests Feasibility ‘V’ Desirability Risk Realities External Constraints Confidence Page 36
  • 18.
    STAGE 7 THESTRATEGIC CHOICE DECISION Announcements Articulation Plan For Change Plan for Implementation Implementation Team Strategy Into Action Management Controls Monitoring & Review THE STRATEGIC CHOICE DECISION FOCUS DESIRED OUTCOME(S) STRATEGIC THRUST Review Test Results Decision Making Protocols Risk of ‘ Inaction ’ Opportunity Costing Total Resourcing Strategic Timing Measuring Success Celebration Page 37
  • 19.
    SRM 6 CORETHEORIES  THE BALANCED SCORE CARD         STRATEGY MAPS  Page 38
  • 20.
    THE BALANCED SCORECARD A Review of Kaplan and Norton’s Strategy Management Innovation Based Upon The Seminal Text “ Translating Strategy Into Action The Balanced Scorecard ” 1996 ISBN 0-87584-651-3 HBS Press Page 39
  • 21.
    CONTENTS 1. THE BALANCEDSCORE CARD -- AN INTRODUCTION 2. THE BALANCED SCORE CARD PERSPECTIVES AND PERFORMANCE CRITERIA 3. THE BSC SEQUENCE 4. MEASUREMENT 5. STRATEGIC THEMES TO DRIVE ORGANISATIONAL STRATEGY 6. INTEGRATING THE BSC WITH ORGANISATIONAL STRATEGY 7. CASCADING THE BSC 8. A SIMPLE EXAMPLE OF BSC OUTLINED 9. BSC AND ORGANISATIONAL STRATEGIC LEARNING 10. A ROAD MAP FOR INTRODUCTING THE BSC Page 40
  • 22.
    1. THE BALANCEDSCORE CARD -- AN INTRODUCTION In essence the Balanced Score Card integrates measures of past-financial performance with other new measures to drive future performance. Performance Measurement is at the heart of the Balanced Score Card, which itself is derived from an organisation’s Vision and Strategy. The process of determining the Balanced Score Card is based upon just four perspectives for which objectives and measures are determined : - 1. FINANCIAL 2. CUSTOMER 3. INTERNAL BUSINESS PROCESSES 4. LEARNING AND GROWTH Page 41
  • 23.
    1. FINANCIAL 2. CUSTOMERVISION AND 3. INTERNAL BUSINESS STRATEGY PROCESS 4. LEARNING & GROWTH THE BALANCED SCORE CARD PERSPECTIVES Page 42
  • 24.
    Each of theFour Perspectives will then require the following four performance criteria to be set as a basis for putting strategy into action. 1. OBJECTIVES 2. MEASURES 3. TARGETS 4. INITIATIVES / ACTION PROGRAMMES In this way the Balanced Score Card (BSC) provides an established framework for value creation while retaining clarity for financial performance and exposes the value drivers for competitiveness in the longer term. To achieve this all BSC Perspectives must be ‘in balance’ between the financial and non-financial measurements which are derived from the organisation’s Vision, Mission and Strategy. Page 43
  • 25.
    The BSC thereforeprovides a system for the strategic management of the organisation by : - 1. Creating, confirming and communicating a Vision and Mission which can be translated into action at SBU level. 2. Confirming, communicating and linking objectives and the measures by which to assess them. 3. Converting objectives into targets which should be in alignment across the BSC. 4. Provide a basic for feedback and strategic review. NOTE : When combined, this provides a formula for ‘ breakthrough performance ’. Page 44
  • 26.
    3. THE BSCSEQUENCE The ideal sequence when applying the BSC Perspectives would be : - 1. FINANCIAL 2. CUSTOMER 3. INTERNAL BUSINESS PROCESSES 4. LEARNING AND GROWTH This sequential approach achieves Strategy Causality and Integration. The BSC process in itself is designed to achieve organisational cohesion as well as managerial commitment to actions needed to achieve change. It is for ‘ the change agenda ’ which the BSC can make a substantial contribution AND establish a system for ongoing improvement. Page 45
  • 27.
    If used wisely,the organisation’s budgetary reviews can also be integrated with the BSC methodology and thereby produce a platform for organisational development. The BSC provides a basis for the determination and review of business strategy, the most powerful ingredient being the ability to measure performance. If measurement is attained then management control is attainable. 3. MEASUREMENT The ‘ metrics ’ used for measurement must be determined from the organisational context, but to provide more general examples the table below would provide an indication. Page 46
  • 28.
    THE FOUR PERSPECTIVESINDICATIVE MEASURES 1. Financial Economic Value Added, Return on Investment, Return on Assets, Cash Flow Liquidity, EBIT 2. Customer Acquisition, Retention, Purchase Loyalty, Market Share, Share of Wallet, Customer Satisfaction, Profit by Segment 3. Internal Business Processes Turn-around Time, Cost, Process Quality, Innovation 4. Learning & Growth Information Systems Efficiency, Decision Support Systems, Employee Engagement, Knowledge Management NOTE : These must be originated from the Vision and Strategy. Page 47
  • 29.
    5. STRATEGIC THEMESTO DRIVE ORGANISATONAL STRATEGY Within each of the Four Perspectives, there may be strategic themes developed to achieve the organisation’s strategy. These themes would also provide a source of strategic integration for the business both within a perspective and across all perspectives. Here are some generalised examples : - 1. FINANCIAL PERSPECTIVE Revenue Streams, Revenue Flow, Net Revenue Growth, Cost Optimisation, Asset Utilisation, New Investments, Cash Conversion Cycle, Working Capital Management. These themes will be related to Business Unit Strategy for Growth, Sustainability or even Divestment. Page 48
  • 30.
    2. CUSTOMER PERSPECTIVECustomer Acquisition, Customer Relations, Customers Defection, Customer Profitability by Segment, Market Share, Competitive Positioning, Customer Relationship Management, Customer Value Propositions, Brand Equity, Customer Experience Management, Reseller Partnerships, Channel Support, Pricing & Terms of Trade. 3. INTERNAL BUSINESS PROCESS PERSPECTIVEInnovation, Business Operations, Order Cycle Time, Service Levels, Cross-Functional Service Level Agreements, Standard Operating Procedures, New Product Development, Logistics Efficiencies, Brand Management, Supplier Relationship Management, Procurement. 4. LEARNING AND GROWTH PERSPECTIVE Employee Engagement, Competency Enhancement, Information Systems Support, Technology Innovations, Organisational Alignment, Organisational Climate, Productivity, Core Value. Page 49
  • 31.
    6. INTEGRATING THEBSC WITH ORGANISATIONAL STRATEGY The BSC, through internal meetings held, communicates a clear sense of direction and purpose for all involved employees to attach to. This clarity of understanding creates cohesion for change. Because BSC performance measures act as ‘ drivers ’, and that the causal effects are understood which ultimately link to financial outcomes, then the rationale for strategy achieves clarity. Therefore an effective BSC will have both OUTCOMES and DRIVERS, which could also be termed lagging indicators and leading indicators. See the examples below : - Page 50
  • 32.
    THE CUSTOMER PERSPECTIVE STRATEGICOBJECTIVES STRATEGIC MEASUREMENTS 1. “ To increase customer loyalty by market PERFORMANCE PERFORMANCE segment ” OUTCOMES DRIVERS LAG INDICATORS LEAD INDICATORS • Customer • Customer Retention Satisfaction • Customer Purchase Previously Page 51
  • 33.
    MANAGING STRATEGY THROUGHTHE BSC The fundamental challenge is to ensure there is an effective connection between Strategy Formation and Strategy Execution. Classical Reasons for a ‘disconnect’ are : -  Visions (and Missions) and Derived Strategies which cannot be actioned in practice.   Strategies which have a ‘gap’ between Strategic Intentions and Strategic Abilities at different levels in the organisation ie. they cannot be effectively communicated and cascaded.    Lack of resource adequacy and allocation. Poor feedback systems. NOTE So the BSC approach must pre-empt these difficulties and ensure strategic alignment and cascadence. Page 52
  • 34.
    7. CASCADING THEBSC The Strategic Objectives of the BSC can be cascaded down to operational level by using appropriate measures to track performance, for example. FINANCIAL PERSPECTIVE STRATEGIC OBJECTIVES Optimise Inventory Handling Cost STRATEGIC INITIATIVES • Inventory Control System Review • Purchasing Policies Review • Supplier Relationship Management Guidelines MEASURE Stock-Turn Ratio Cascade To Teams TEAM MEASURES Involved • Economic Order Quantities • Stock Shelf Life • Stock Movements • Zero Stock Obsolescence Page 53
  • 35.
    8. A SIMPLEEXAMPLE OF BSC OUTLINED The Corporate Strategic Initiative is to re-establish competitive market positioning to achieve performance growth for incremental shareholder value gains. OBJECTIVES MEASUREMENT TARGET ACTION FINANCIAL • Regain Last Sales Sales Growth 10% Per Annum Sales Planning PERSPECTIVE • Grow Operations Margin Growth 5% over Two Review Terms Margins Years of Trade • Control Costs Cost Reduction 10% over Two Budgetary Years Control Page 54
  • 36.
    OBJECTIVES CUSTOMER • RebuildLoyalty PERSPECTIVE • Customer Acquisition • Customer Satisfaction • Customer Value Propositions MEASUREMENT Repeat Sales Customer Referrals CRM Survey Customer Survey TARGET ACTION Increase Focus Group Customer value Research by 10% Per Annum Market Penetration for Customer Growth Confirmed Industry Position within Top 3 within two years Periodic Customer Surveys Page 55
  • 37.
    OBJECTIVES MEASUREMENT TARGETACTION INTERNAL PROCESS • Build Customer 10% Per Annum Marketing PERSPECTIVE Relationships Growth Strategy and Sales Planning Execution • Penetrate New Customer Loyalty Calculate & Build Customer Segments Repeat Business 10% per annum Customer Lifetime Value Sales Growth • Conduct Competitor Positioning Surveys #3 within two Periodic Analysis years Customer Surveys Page 56
  • 38.
    OBJECTIVES MEASUREMENTS TARGETACTION LEARNING & • Develop Marketing CEO Tracking Upgrade within a Skills Training GROWTH Competency year PERSPECTIVE • Develop Customer Datamining Potential Achieve in 6 Appoint Database months External Consultant • Improve Information Decision Support On Stream ICT Systems Systems for Feedback Effectiveness in one year Upgrade NOTE : Targets and Actions are linked across the perspectives to achieve shared ownership for outcomes designed to achieve this corporate strategic initiative. Page 57
  • 39.
    9. BSC ANDORGANISATIONAL STRATEGIC LEARNING Often the process of using the BSC in practice leads to the questioning of commonly-held assumptions and the need to then reflect upon them for future relevance and consistency. This questioning process is known as DOUBLE LOOP LEARNING, which when employed will lead to new insights, new strategies and the need for change. Strategies are creative in design and will both emerge and change overtime as a result of environmental turbulence. Even the implementation of strategies can lead to new strategies emerging. In this way, strategy is an on-going process to achieve organisational renewal, relevance and sustainability. This will all depend upon a shared vision as a foundation stone. Page 58
  • 40.
    10. A ROADMAP FOR INTRODUCING THE BSC 1. ACHIEVE AND SHARE A VISION 2. OBTAIN CONSENSUS ABOUT CORPORATE STRATEGY AND STRATEGIC INITIATIVES NEEDED 3. RECONFIRM FOCUS AND PRIORITIES 4. DEVELOP LEADERSHIP FOR THE BSC 5. PLAN THE BSC AS A STRATEGIC INTERVENTION 6. INTEGRATING THE BSC TO ORGANISATIONAL STRATEGY 7. SET TARGETS FOR PUTTING STRATEGIES INTO ACTION 8. DETERMINE AND ALIGN ACTION PROGRAMMES 9. ESTABLISH A SYSTEM FOR FEEDBACK, MONITORING AND REVIEW 10. EVALUATE STRATEGIC OUTCOMES Page 59
  • 41.
    STRATEGY MAPS A Reviewof Kaplan and Norton’s Seminal Text “ Strategy Maps Converting Intangible Assets into Tangible Outcomes ” 2004 ISBN 978-1-591-134-0 HBS Press Page 60
  • 42.
    CONTENTS 1. OVERVIEW 2. THETENENTS OF THE STRATEGY MAP 3. THE STRATEGIC FIT WITH STRATEGIC MANAGEMENT 4. VALUE CREATION THROUGH THE FOUR BSC PERSPECTVES – INDICATIVE EXAMPLES 5. VALUE CREATING THEMES 6. THE INTEGRATION OF STRATEGIC THEME(S) WITH THE STRATEGY MAP AND THE BALANCED SCORE CARD 7. VALUE CREATING INTERNAL PROCESSES 8. STRATEGY MAP FOR CUSTOMER MANAGEMENT 9. LINKING THE STRATEGY MAP TO THE BALANCED SCORECARD 10. VALUE CREATION THROUGH LEARNING & GROWTH INTANGIBLE ASSETS Page 61
  • 43.
    OVERVIEW The Balanced ScoreCard has achieved a performance measurement system for the implementation of vision and strategy, through organisational alignment, with a clear sense of focus upon measurable outcomes. The BSC demonstrates that strategic objectives can be achieved by linking causal relationships through four BSC perspectives. This notion of linkage gave birth to the “ Strategy Map ”. Today the Strategy Map has been just as an important innovation as the Balanced Score Card. This lead Kaplan and Norton to redefine the formula for Breakthrough Results as  +  +  STRATEGY MAPS BALANCED SCORECARD THE STRATEGY FOCUSED ORGANISATION Page 62
  • 44.
    The underlying philosophyof all 3 components is “ You can’t manage what you can’t measure and you can’t measure what you can’t describe. ” The Strategy Map describes how value is created, how strategic themes can create new value and how alignment of intangible assets can achieve strategic outcomes for long term value creation. In simple terms, the Strategy Map describes how organisations create value for business sustainability, derived from the four perspectives in the Balanced Score Card (BSC). It then provides the critical link between strategy formulation and strategy implementation. Page 63
  • 45.
    THE TENETS OFTHE STRATEGY MAP Kaplan and Norton claim that 1. Strategy balances often contradictory focus across the organisation. 2. Strategy is based upon differentiated customer value propositions. 3. Economic Value is created through internal business processes. 4. Strategy comprises simultaneous, complementary themes. 5. Strategic alignment determines the value of intangible assets when : 5.1 Human capital is aligned in job families to strategic themes. 5.2 That the IT infrastructure is aligns information capital to strategic themes. 5.3 The organisational change agenda & leadership must integrate realignment to achieve strategic themes. These ideals are embedded in the classical template shown below. Page 64
  • 46.
    Value Creation fromIntangible Assets which is the basic premise of Kaplan & Norton’s work is fundamentally different from creating value through the strategic management of tangible financial and physical assets. This distinction is explained by the authors as follows : - 1. Value Creation through intangible assets is not direct but could be incremental through a chain of cause and effect relationships. 2. Value creation will relate to context in which the intangible assets are aligned. 3. Often the value creation from intangible assets is potential value which can only be captured if these assets are aligned to a strategic thrust and are in fact bundled together. This is explained by reference back to the BSC and combining this in a Strategy Map format as shown below. Page 65
  • 47.
    Productivity Strategy Long-TermShareholder Growth Strategy Value FINANCIAL PERSPECTIVE Improve Cost Increase Asset Expand Revenue Enhance Structure Utilisation Opportunities Customer Value CUSTOMER Price Customer Value Proposition Service Partner- Brand PERSPECTIVE Availability Selection Functionality ship Quality Product / Service Attributes Relationship Image INTERNAL PERSPECTIVE LEARNING AND GROWTH PERSPECTIVE Operations Customer Management Innovation Regulatory and Social Management Processes Processes Processes Processes • Supply • Selection • Opportunity ID • Environment Selec • • • • Selec Production Acquisition R & D Portfolio Safety and Health • Distribution • Retention • Design / Develop • Employment • Risk Management • Growth • Launch • Community Human Capital Information Capital Organization Capital Culture Leadership Alignment Teamwork KAPLAN & NORTON’S CLASSICAL STRATEGY MAP TEMPLATE Page 66
  • 48.
    FINANCIAL PERSPECTIVE Long-Term Revenue Productivity Shareholder GrowthValueStrategy CUSTOMERPERSPECTIVE Product / Service Attributes Relationship Image Price Time Function Partnership Brand Quality INTERNAL PROCESS PERSPECTIVE Manage Manage Manage Manage Regulatory Operations Customers Innovation and Social Processes LEARNING AND GROWTH PERSPECTIVE Human + Information + Organisation Capital Capital Capital Cause-and-Effect Relationships Defines the chain of logic by which intangible assets will be transformed to tangible value. Customer Value Proposition Clarifies the conditions that will create value for the customer. Value-Creating Processes Defines the processes that will transform intangible assets into customer and financial outcomes. Clustering of Assets and Activities Defines the intangibles that must be aligned and integrated to create the value. Page 67
  • 49.
    THE STRATEGIC FITWITH STRATEGIC MANAGEMENT ? The diagram below locates the BSC and Strategy Maps into a Strategic Management perspective. Vision Strategy Targets Strategic MapMission Strategy OutcomesBalanced InitiativesValues Score Card Direction and The Game Plan or Translates the What must Value Beliefs which Route to be taken Strategy into focus be achieved Capture influence for action, Value to deliver organisational Creation, and value behaviour Performance Measurement Page 68
  • 50.
    VALUE CREATION THROUGHTHE 4 BSC PERSPECTIVES -- INDICATIVE EXAMPLES Long Term Incremental Shareholder THE FINANCIAL Value Enhancement PERSPECTIVE PRODUCTIVITY STRATEGY GROWTH STRATEGY Improve Cost Infrastructure Increase RevenueManagement Build Customer Value Optimisation Streams • Improve Procurement • Capacity Management • New Market Segments • Increase • Improve Working Capital • Asset Utilisation • Segmentation Strategy Customer Base • IncreaseManagement • Business Process • Product / Service Customer • StreamliningReduces Expenses Innovation Loyalty • • Service Turnaround TimesEconomic Value Analysis • Strategic Alliances • Increase • Improve Output within Customer Capacity Constraints Profitability Page 69
  • 51.
    THE CUSTOMER PERSPECTIVE Customer SegmentCustomer Segment Customer Customer Profitability • Market Share Acquisition Retention • Mind Share The Customer Value Proposition (Superior) Price Quality Service Brand Functionality Design CRM Partnerships Total Customer Experience Satisfaction Page 70
  • 52.
    OPERATIONS CUSTOMER INNOVATIONREGULATORY MANAGEMENT MANAGEMENT PROCESSES AND SOCIAL PROCESS PROCESSES PROCESSES • Procurement • Qualifying NPD Constraints • Supply Chain Customers Opportunity Governance THE INTERNAL • Manufacturing • Acquisition Analysis Social Due Diligence ResponsibilityPERSPECTIVE • Distribution • Definition R & D Health & Safety • Logistics • Retention Design Engagement • Operational Risk • Development Employment Customer Base Networks Growth Launch Page 71
  • 53.
    ALIGNMENT READINESS STRATEGIC JOB IT PORTFOLIOTHE CHANGE AGENDAFAMILIES HUMAN CAPITAL LEARNING • CompetencyAND GROWTH • Structures PERSPECTIVE • Skills • Training • Knowledge • Attitude INFORMATION ORGANISATION CAPITAL CAPITAL • ICT • Culture • Systems • Leadership • Relevance • Alighment • Databases • Cohesion • Networks • Teamwork • Integration • Shared Values Page 72
  • 54.
    VALUE CREATING THEMES Strategycan also be envisaged as a set of value creating themes. These flow through all the four Strategy Map Perspectives in the drive towards shareholder value enhancement. Examples of Strategic Themes could be : -         Relationship Management Organisational Engagement Internal Organisational Development New Product Development Waste Management Just In Time World Class Accreditation Customer Centricity Page 73
  • 55.
    The visual impactof Strategic Themes upon the Strategy Map is shown below : - Long Term Shareholder Value Enhancement FINANCIAL PERSPECTIVE Productivity Growth CUSTOMER PERSPECTIVE Customer Value Propositions INTERNAL Operations Customer Innovation Regulatory PERSPECTIVE Management Management Management & Social Human Capital LEARNING & Information Capital GROWTH Organisational Capital ST  ST  ST  ST  ST  to  = STRATEGIC THEMES Page 74
  • 56.
    The STRATEGIC THEMES,if applied, will define the neededNote Carefully processes, intangible assets and initiatives required to be implemented to execute the strategy. Each Strategic Theme should have its business case confirmed before being mandated. Page 75
  • 57.
    THE INTEGRATION OFSTRATEGIC THEME(S) WITH THE STRATEGY MAP AND THE BALANCED SCORE CARD STRATEGY MAP BALANCED SCORE CARD ACTION PLANS Strategic Theme : Eg. New Product Objectives Measurement Target Initiatives Budget (Costs) Development • • • • • FINANCIAL PERSPECTIVE • • • • • • • • • • • • • • • CUSTOMER PERSPECTIVE • • • • • • • • • • INTERNAL PERSPECTIVE • • • • • • • • • • • • • • • LEARNING & GROWTH • • • • • • • • • • PERSPECTIVE • • • • • NOTE : The execution of the Strategic Theme is achieved through Strategic Initiatives laid down in the Action Plan, all of which are aligned and integrated through the 4 Perspectives. Page 76
  • 58.
    VALUE CREATING INTERNALPROCESSES The “ INTERNAL PROCESS PERSPECTIVE ” will transform Intangible Assets into financial and customer value outcomes. These as we know already are : - Operations Customer Innovation Regulatory & Management Management Management Social NOTE : Each of these management processes could have its own Strategy Map. Using Customer Management Processes as an example, we can discover how this intangible asset can create value. Page 77
  • 59.
    From the classicalKaplan and Norton Strategy Map template. The customer management core processes are : - • Customer Selection (Segment Attractiveness) • Customer Acquisition (Secure Customers) • Customer Relation (Build Customer Loyalty) • Customer Growth (Grow Customer Value for increased sales) These pillars of the Customer Management Process can now be developed into a full Strategy Map as shown below. [ Clearly Strategy Maps can be produced for the other Internal Process Perspectives ]. Page 78
  • 60.
    STRATEGY MAP FORCUSTOMER MANAGEMENT FINANCIAL PERSPECTIVE Long Term Shareholder Value Enhancement Productivity Growth Improve Sales and Selling Productivity Build Revenue Build Customer Streams Value CUSTOMER PERSPECTIVE The Customer Value Propositions Price Quality Service Brand Functionality Availability Partnerships Page 79
  • 61.
    INTERNAL PERSPECTIVE CUSTOMER SELECTION Customer Segments Customer Profiles QualifyingCustomers Target Customers Brand Positioning Awareness Building Marketing Communications Lead Generation CUSTOMER ACQUISITION Project Competitive Value Customer Acquisition Approach Networks Trade Relationships Locations Purchase Motivations Lead Conversion CUSTOMER CUSTOMER RETENTION GROWTH A Valued Customer Upselling Experience Cross-Selling Preferred Partnerships Solution Selling Brand Promise Partnership Delivery Customer Training Service Excellence Customer Referrals Customer Lifetime Value Customer Satisfaction Customer Loyalty Schemes Page 80
  • 62.
    Learning and Growth Perspective HUMAN CAPITAL INFORMATION CAPITAL ORGANISATION CAPITAL • MarketingProduct Knowledge Research Customer Care • Competitor Training Analysis Soft Skills • Data Mining Partner Management • IT Communications Lead Generation • Database Sales Management • Margin Analysis Information Systems • Contribution Web-based Analysis Communications • Response Analysis Customer Centric Customer Centric Culture Culture Industry Best Industry Best Practices Practices Benchmarking Benchmarking Marketing Leadership Marketing Leadership Call Centre Policies Problem Resolution Customer Feedback Turn Around Times Order Processing Order Fulfillment Order Frequency Customer Contribution By Segment Customer Centric Culture Industry Best Practices Benchmarking Marketing Leadership Selling Skills Customer Partnering Customer Relationship Management Customer Feedback Systems JIT Systems Information Sharing Joint Planning Systems Customer Centric Culture Industry Best Practices Benchmarking Marketing Leadership Page 81
  • 63.
    LINKING THE STRATEGYMAP TO THE BALANCED SCORE CARD FOR EACH OF THE FOUR PERSPECTIVES • Objectives are then required • Measures to assess the achievement of objectives • Targets to be achieved • Budget / Cost Implications In order to make the Strategy Map actionable. Page 82
  • 64.
    VALUE CREATION THROUGHLEARNING AND GROWTH INTANGIBLE ASSETS From the Seminal Work of Kaplan and Norton and the research they have undertaken it has emerged that there are Key Result Areas which cannot be ignored. 1. HUMAN CAPITAL STRATEGIC COMPETENCIES [ Skills, Talent, Know How ] 2. INFORMATION CAPITAL STRATEGIC INFORMATION [ Information Systems, Knowledge Applications and Infrastructure ] 3. ORGANISATION CAPITAL CULTURE, LEADERSHIP, ALIGNMENT AND TEAMWORK [ Shared Vision, Mission and Values, Qualified Leaders to mobilise alignment at all levels of the organisation. Team-based information sharing for action ] Page 83
  • 65.
    Table of Contents PARTONE – THE COMPANY REPORT......................................................................................................................1 I. Situational analysis for Sony Corporation ......................................................................................................1 1. PESTEL analysis for Sony Corporation .......................................................................................................1 2. Analysis of Five Forces for the electronics industry of Sony Corporation............................................4 3. SWOT analysis...............................................................................................................................................6 II. Future business solution for achieving incremental value addition..........................................................7 1. Balanced Score Card.....................................................................................................................................7 2. Strategy Map Methodologies .....................................................................................................................9 III. Wider implications for convincing Sony Corporation to conduct organizational change...................12 PART TWO – EVIDENCE REVIEW............................................................................................................................13 I. A critique of chosen literature regarding Strategy Maps and Balanced Score Card..............................13 1. Literature regarding Balanced Score Card..............................................................................................13 2. Literature regarding Strategy Map...........................................................................................................16 II. Positive business transformation for the sustainability of business in the future................................19 PART THREE – REFLECTION FOR ENHANCEMENT OF EMPLOYABILITY............................................................20 I. Core capabilities and critical thinking are needed to achieve the task of consultancy for Sony Corporation..........................................................................................................................................................20 II. My competencies, skills and knowledge for effectively completing the task of consultancy for Sony Corporation..........................................................................................................................................................21 III. Leadership skills related to consultancy are required for future individual development and future career accession ..................................................................................................................................................21 REFERENCES..............................................................................................................................................................24 PART ONE – THE COMPANY REPORT I. Situational analysis for Sony Corporation 1. PESTEL analysis for Sony Corporation Political elements 1
  • 66.
    Sony Corporation isheadquartered in Japan and the majority of business activities of this corporation are in Asia and Europe. Indeed, there are over 90% of the market share of this corporation are in Asia and Europe (Sony Corporation, 2015). The political situation of nations in Asia and Europe where Sony Corporation is operating is stable because the governments of nations in Asia and Europe have a great emphasis on assuring their nations’ political stability. Indeed, according to Schmidt et al. (2016), the governments of the nations regard assuring the political stability as an important aspect for enhancing the economy development for their nations. Moreover, Sony Corporation chooses Asian nations like China, India, and Vietnam with the great economic development and the high political stability to perform its business activities (Sony Corporation, 2015). Thus, Sony Corporation has not faced the problem regarding the political instability of nations where it operates. Economic elements Regarding economic issue, Sony Corporation is gaining good business development from Asia and Europe. In Asia, China, India and Vietnam have the stable economy development in the recent time after the world economic downturn happened in 2008. Indeed, in Asia, in 2014, China had the growth of GDP of 7.3% in comparison with the year of 2013 and Vietnam had the growth of GDP of 6% in comparison with the year of 2013. In addition, in Europe, Germany, the United Kingdom and other European nations have had good economy development in the recent time. For example, in 2014, Germany had the growth of GDP of 1.7% in comparison with the year of 2013 and the United Kingdom had the growth of GDP of 2.9% in comparison with the year of 2013 (The World Bank, 2016). Socio-culture elements Needs for electronics products of consumers in Japan and other nations in the world are significantly increasing in recent years. In detail, living standards of consumers in nations like Japan, Germany, China, India, the United Kingdom, Vietnam, etc. are enhanced. The increasing living standards of consumers lead to the increasing needs for electronics products 2
  • 67.
    (Naganathan, 2013; Hittet al., 2016). This is a big opportunity for Sony Corporation to enhance its future profitability. Technological elements About technological aspect, in the electronics industry, large electronics companies including Sony Corporation have had competition edges regarding technology expertise and technology innovation because it is very difficult for smaller organizations to get such competition edges. In the electronics industry, modern and innovative production equipment and technologies are extremely expensive for organizations to own and innovation of differentiated and unique electronics products are time-consuming and money-consuming processes (Dumitrescu and Scalera, 2012). For Sony Corporation, this corporation has not faced threats regarding gaining expensive manufacturing technologies and equipment and launching new differentiated products because of its large business capital and its technology expertise (Frynas and Mellahi, 2015). Environmental elements In the electronics industry, organizations including Sony Corporation have faced a threat regarding environmental pollution. In particular, the environment sustainability has been harmed by the majority of production organizations including electronics manufacturing organizations. Then, nations’ governments, especially developed nations require electronics manufacturing organizations to decrease usage of energy, usage of water and greenhouse gas emissions in their manufacturing processes and require the organizations to use waste disposal systems, and recyclable raw materials in their production activities (Benn et al., 2014). For Sony Corporation, expenses for the strategies of protection of the environment sustainability are too high per year and this is a challenge for this corporation (Sony Corporation, 2015). Legal elements In the electronics industry, organizations only assure the sustainability of business development when they conform to governments’ regulations and laws regarding consumer protection, 3
  • 68.
    employment, business activities,environment protection, etc. European nations and Japan are extremely famous with serious laws and regulations for performing business operations of organizations in these nations. If any electronics organizations have actions that do not conform to laws and regulations of these nations, the governments will prohibit or limit business activities of these organizations (Zakaria et al., 2012). Currently, Sony Corporation conforms to governments’ laws and regulations and then, this corporation has not faced a threat regarding violation of laws and regulations (Zakaria et al., 2012; Sony Corporation, 2015). 2. Analysis of Five Forces for the electronics industry of Sony Corporation Current competition amongst electronics organizations in the electronics industry: Extremely fierce There is extremely vehement competition level between electronics organizations in the electronics industry. It is regarded as an extremely high threat for Sony Corporation. Samsung, Apple, Sony Corporation, Nokia, LG, HTC, and Dell are key electronics organizations in the global electronics industry and these organizations account for 70% of the market share of the global electronics industry (Frynas and Mellahi, 2015). In the electronics industry, the great profitability and the great business development will only belong to organizations with the continuous organizational learning and continuous innovation. Hence, the market share of big electronics organizations can be gain by smaller electronics organizations if the big electronics organizations do not have a great emphasis on conducting R&D (research and development) operations continuously (Jung, 2014). Threat of new entrants: Average In the electronics industry, there is a high profitability level for electronics organizations. Then, new entrants are attracted to enter this industry to get the great profitability that is similar with current electronics organizations. However, new entrants have to handle barriers like expertise of technology, business experience, laws of environment protection, large business capital, etc. 4
  • 69.
    Hence, threat ofnew entrants in the electronics industry is in the average level (Cirjevskis, 2016). Threat of substitutes: Very low In the electronics industry, products of organizations face a very low threat of substitutes. Indeed, consumers focus much on using electronics products (mobile phones, laptops, computers, televisions, etc.) to serve their life needs and job needs. The electronics products have become an important part for life of consumers and they are difficult to be replaced by other products (Frynas and Mellahi, 2015). Thus, products of Sony Corporation only face a very low threat of substitutes. Bargaining power of consumer: Very high In the electronics industry, consumers are easy to select electronics products that are suitable with their demands because there are too many electronics products which are produced by many electronics organizations. Then, the bargaining power of consumers is much higher than electronics organizations including Sony Corporation. Although the needs for electronics products of consumers in the electronics industry are quickly increasing in recent years, consumers only like electronics products with the innovative and unique features, suitable price levels and high product quality (Naganathan, 2013). With the appropriate price levels and the high product quality, electronics brands of Sony Corporation have been preferred by many consumers in the global scale. This is a rationale why customer base of Sony Corporate is big and this corporation has been one of the biggest electronics organizations in the form of production and business sales (Sony Corporation, 2015; Frynas and Mellahi, 2015). Bargaining power of supplier: Low Sony Corporation is extremely wise to build and maintain a positive relationship with its suppliers. As a result, the suppliers of Sony Corporation offer high-quality components and items serving for its manufacturing processes on time. Bargaining power of suppliers of Sony Corporation is lower than Sony Corporation because there are many companies that would like 5
  • 70.
    to become suppliersof Sony Corporation. Indeed, production activities of Sony Corporation need a hug number of components and items. Then, becoming suppliers of Sony Corporation will get great sales each year (Hitt et al., 2016). 3. SWOT analysis For the analysis of SWOT of Sony Corporation, it is expressed in table 1. Table 1: Analysis of SWOT of Sony Corporation Strengths of Sony Corporation Weakness of Sony Corporation  Sony Corporation has large business capital. The large capital helps it to conduct expansion of its  Sony Corporation has business activities in many nations all over the world, to conduct R&D operations effectively and greater operation to launch new products effectively. The large capital also demonstrates that Sony Corporation costs than operation has gained the high trust from investors (Dumitrescu and Scalera, 2012). costs of its rivals.  Sony Corporation has powerful electronics brands. In other words, it has had a greatly Indeed, it is not competition position in the electronics industry. Sony Corporation has created close effective in managing relationships with consumers and has had positive positions in minds of consumers (Frynas and its operation costs Mellahi, 2015). and then, italways  Sony Corporation has a various range of electronics products to meet different needs of has great operation consumers. Indeed, it has had many electronics brands and then, consumers can select costs per year (Sony electronics products according to their expectations, incomes and needs (Hitt et al., 2016). Corporation, 2015).  Sony Corporation has technological innovation and technological expertise. In particular, it has  Sony Corporation has the high willingness to use a huge amount of money to purchase advanced equipment and weak business technologies to meet its production processes annually and has a great emphasis on performing presence in Americas R&D operations to create new innovative electronics products annually (Jung, 2014). because only 3% of  Sony Corporation has high productivity and high business effectiveness in recent years. Indeed, market share of this revenues, profits and market share increase in recent years (Sony Corporation, 2015). corporation are in  Sony Corporation has the strong business presence in Europe and Asia (Sony Corporation, 2015). Americas (Cirjevskis, 2016). Opportunities of Sony Corporation Threats of Sony Corporation  Needs for electronics products of consumers in Japan and other nations across the globe are  Sony Corporation significantly increasing in recent years. Indeed, consumers in Asia, Europe and Americas are faces the high threat increasing to purchase electronics products. This will be a chance for Sony Corporation to gain regarding extremely the high future business effectiveness (Naganathan, 2013; Hitt et al., 2016). fierce competition in  Sony Corporation will get a chance in the form of enhancing its business effectiveness because the electronics the economy development of nations in Asia, Europe and Americas is stable and high (The industry. Indeed, many famous 6
  • 71.
    World Bank, 2016).organizations in the electronics industry like Samsung, Apple, Nokia, LG, HTC, and Dell create unique and differentiated electronics products to serve consumers (Frynas and Mellahi, 2015).  Sony Corporation faces the high threat regarding assuring the environment sustainability. Expenses for Sony Corporation to retain the environment sustainability are too high annually (Benn et al., 2014; Sony Corporation, 2015).  Sony Corporation faces the average threat regarding business activities of new entrants who would like to enter the electronics industry to get the market share from Sony Corporation (Cirjevskis, 2016). II. Future business solution for achieving incremental value addition 1. Balanced Score Card Financial perspective 7
  • 72.
    During the periodof 2011-2015, Sony Corporation’s cash flow increased, the revenues and profits of this corporation also increased, and the shareholder return of this corporation also increased. Financial results of Sony Corporation will be forecasted to increase substantially in the next two years (Annual reports of Sony Corporation during the period of 2011-2015. Hence, the financial results of Sony Corporation from 2011 to 2015 were high and will be high in the next two years. However, this corporation did not control its operation costs during the period of 2011-2015 and then, its operation costs were higher than its rivals in the electronics industry (Sony Coporation, 2015). Sony Corporation has weak business presence in Americas because only 3% of market share of this corporation are in Americas. The market share of this corporation in the United States is 1% (Cirjevskis, 2016). It is important for Sony Corporation to increase its business presence in Americas because needs for electronics products in Americas are increasing significantly (Frynas and Mellahi, 2015). Customer perspective From 2011 to 2015, customers of Sony Corporation had the great satisfaction level on electronics products of this corporation because this corporation regarded values of consumers as its own values. The market share of Sony Corporation was high in the electronics industry and this corporation was regarded as a large electronics corporation in this industry from 2011 to 2015. The price levels of electronics products of Sony Corporation were suitable with its product quality, and were competitive with its competitors and were reasonable during the period of 2011 to 2015 (Hitt et al., 2016). Hence, during the period of 2011-2015, Sony Corporation had the strong relationship with its customers and gained the high supports from its customers like offering positive word-of-mouth comments for electronics products of this corporation, and buying more electronics products of this corporation (Baines et al., 2016). Internal process perspective From 2011 to 2015, Sony Corporation used advanced technologies to manage all business risks, to create differentiated and innovative electronics products, to handle problems of its customers suitably and to increase positive interactions between its staffers and its customers. 8
  • 73.
    As a result,Sony Corporation has created the high-quality electronics products, and has gained the high customer satisfaction index (Cirjevskis, 2016). Learning & growth perspective Sony Corporation had a high increase in sales from 2011 to 2015. In fact, Sony Corporation regards continuous learning and innovation as the methods for gaining competitive advantages like high business effectiveness, differentiation in electronics products, high customer loyalty level, etc. In detail, Sony Corporation encourages its staffers to make contributions of innovative ideas for developing unique and differentiated electronics products and provides valid rewards for such innovative ideas. Moreover, this corporation constantly provides training programs for its staffers so that its staffers can gain new knowledge and skills to use advanced technologies to create new electronics products to serve changing needs of its customers (Hitt et al., 2016; Cirjevskis, 2016). 2. Strategy Map Methodologies Based on the classical Strategy Map of Kaplan and Norton (2001), this report proposes the Strategy Map for Sony Corporation in the future as follows: Figure 1: Strategy Map for Sony Corporation 9
  • 74.
    The Strategy Mapfor Sony Corporation includes the following aspects: Enhancement of financial results To increase long-term shareholder value, Sony Corporation needs to conduct two main strategies, that is, (1) productivity strategy and (2) growth strategy. In particular, for the productivity strategy, Sony Corporation needs to improve the effectiveness of operation cost management by improving procurement costs, conducting economic value analysis, reducing business costs, and improving working capital management and needs to infrastructure optimization by conducting capacity management, building smooth business processes, conducting maximum asset utilization and focusing much on managing business turnaround time (Barad and Dror, 2008). For the growth strategy, Sony Corporation needs to increase revenue streams by entering new business markets, especially new business markets in Americas, conducting product innovation and performing strategic alliances and needs to build 10
  • 75.
    customer value toincrease customer base, to increase customer loyalty and to increase customer profitability (Lueg, 2015). Customer value proposition Sony Corporation needs to focus much on main factors like product price, product quality, product function, product creation time, relationship with customers, and brands. For the electronics product price, Sony Corporate needs to offer the competitive and reasonable product price levels for its electronics products so that it can attract more potential customers. The quality of electronics products has to be high and the function of the electronics products has to be innovative. The time for creating new electronics products must be fast so that consumers have positive thoughts about the innovation capability of Sony Corporation. Sony Corporation needs to consider customers as its partners so that both its customers and it will gain the high benefits from offering of electronics products. In particular, Sony Corporation will gain the high revenues from purchases of its customers and its customers will gain differentiated and unique electronics products from it. In addition, Sony Corporation needs to focuses much on building positive brand image in terms of respecting benefits of customers so that customers have great supports for its electronics products (Moosavirad and Ghodsian,2016). Enhancement of the effectiveness of internal process Sony Corporation needs to increase the effectiveness of four main internal processes, that is, (1) operations management process, (2) customer management process, (3) innovation process and (4) regulatory and social process. For the operations management process, Sony Corporation needs to manage operational risks, logistics operations, distribution, production, supply chain and procurement. For the customer management process, Sony Corporation needs to grow customer base, retain customers, and investigate needs and expectations of customers. For the innovation process, Sony Corporation needs to conduct R&D activities continuously and is willing to spend a large amount of money to buy modern technologies to serve innovation of electronics products. In addition, for the regulatory and social process, Sony 11
  • 76.
    Corporation needs tocomplete social responsibilities well, needs to conform to health & safety regulations, needs to have fair treatment for its employees, needs to conduct the employment of employees according to laws, and needs to have positive corporate governance (Elahi et al., 2014). Enhancement of the effectiveness of learning & growth Sony Corporation needs to pay much attention to three main aspects to assure the effective organizational learning and the high business growth, namely, (1) human capital, (2) information capital and (3) organization capital. In terms of the human capital, Sony Corporation needs to offer constant trainings to its employees so that it can increase competencies, skills, knowledge and positive attitudes of its employees. For the information capital, Sony Corporation needs to have effective information communication technologies and modern systems for storing organizational information. In addition, for the organization capital, Sony Corporation needs to create positive organizational culture ensuring organizational justice, needs to require leaders to have effective leadership styles like transformational leadership and democratic leadership, needs to increase the solidarity between organizational members, needs to increase the effectiveness of teamwork and needs to respect shared values (Olia et al., 2010). III. Wider implications for convincing Sony Corporation to conduct organizational change To gain the high business growth in the future, Sony Corporation needs to conduct organizational change because Sony Corporation faces the high threat regarding extremely fierce competition in the electronics industry. Sony Corporation faces the average threat regarding business activities of new entrants who would like to enter the electronics industry to get the market share from Sony Corporation. Sony Corporation has greater operation costs than operation costs of its rivals and has weak business presence in Americas. If Sony Corporation does not conduct the organizational change, this corporation will continue facing the threats and will not improve its own weaknesses. In addition, this corporation will not gain opportunities regarding increasing needs for electronics products of consumers in the world 12
  • 77.
    and high economydevelopment of nations in Asia, Europe and Americas. The organization change includes expansion of business markets, enhancement of customer management, enhancement of management of internal processes and enhancement of learning & growth aspects. PART TWO – EVIDENCE REVIEW I. A critique of chosen literature regarding Strategy Maps and Balanced Score Card 1. Literature regarding Balanced Score Card In terms of Balanced Score Card, there are four main aspects, that is, (1) financial aspect, (2) customer aspect, (3) internal business process aspect and (4) learning & growth aspect. The four main aspects create good conditions for organizations to gain the valid vision and the effective business strategy (Chavan, 2009) (see figure 2). The Balanced Score Card is a strategic management and planning system which is extensively applied by organizations to align activities of business to vision and the business strategy of the organizations, to improve external and internal communications and to monitor organizational effectiveness against strategic purposes (Poureisa et al., 2013). The Balanced Score Card suggests that people can view an organization from four aspects and can evaluate the organization from the four aspects. The first aspect is financial aspect. Investors and other stakeholders of an organization can evaluate financial aspect of the organization through indicative factors like cash flow, return on assets, return on investment, economic value added, profits, revenues, costs, etc. The second aspect is customer aspect. Investors and other stakeholders of an organization can evaluate the customer aspect through indicative factors like customer purchase, customer retention, customer loyalty, market share, customer satisfaction, and profit by customer segment. The third aspect is internal business process aspect. Investors and other stakeholders of a company can evaluate the effective of internal business processes through indicative elements like process quality, innovation, costs, turnaround time, etc. The last aspect is learning & growth of an organization. The effectiveness 13
  • 78.
    of learning &growth aspects is expressed through elements like efficiency of information systems, decision support systems, knowledge management, and employee engagement (Ridwan et al., 2013). Figure 2: Balanced Score Card Source: Kaplan and Norton (1996) When an organization manages its financial aspect well and focuses much on increasing its financial results over time, its current investors will become loyal to it and its potential investors will be attracted by it. On the other hand, when a company manages its financial aspect ineffectively and does not have the effective solutions for improving its negative financial results over time, its current investors are willing to sell their stocks and its potential investors will not want to invest their money into such company (Greatbanks and Tapp, 2007). Thus, it is important for organizations to pay much attention to increase the effectiveness of financial perspective to retain current investors and to attract potential investors (Zizlavasky, 2014). 14
  • 79.
    When an organizationfocuses much on investigating expectations and desires of customers and has a great emphasis on meeting these expectations and desires, it will gain the high customer base, will build positive relationships with its customers, will attract more potential customers, and will have high positions in minds of its customers. The high market share will be gained by organizations that consider values of their customers as the priority in business and increase values for their customers over time (Lueg, 2015). Customers always expect that they can purchase products/ services that are high-quality and suitable-price. Customers will have positive word-of-mouth for companies that respect values and expectations of the customers and will have negative comments for companies that only focus much on maximizing the benefits of shareholders and harm benefits of customers (Elahi et al., 2014). Hence, it is necessary for organizations to be interested in managing customer relationship by improving the values of products/ services continuously according to desires of customers (Chavan, 2009). Through Balanced Score Card, managers can know how well their business processes are running and to evaluate whether their products/ services meet requirements of customers. It is necessary for managers to have careful design for their internal business process so that all business processes are smooth and the business performance is high due to the smooth business processes (Poureisa et al., 2013). The managers must pay much attention to many elements like procurement, supplier relationship management, brand management, logistics efficiency, development of new products/ services, standard operation procedures, cross- functional service level, service level, order cycle time, business operations, innovation capability (Ridwan et al., 2013). When the managers ensure the positive management of these elements, the internal business processes become effective and smooth (Poureisa et al., 2013; Zizlavsky, 2014). The high business performance will be gained by an organization when it has good organizational learning and growth. To ensure the positive organizational learning and growth perspective, an organization must ensure the high effectiveness of employee engagement, employee competency enhancement, excellent information systems, technological innovations, organizational alignment, positive organizational climate, and shared values. Indeed, employees 15
  • 80.
    will become highlycommitted with an organization that encourages employee engagement and then, the employees can affect the decision-making of managers, and can become more innovative in their job processes. Organizations that focus much on offering training programs constantly to their employees will enhance their employees’ competencies, skills and knowledge and the high competencies, skills and knowledge will enhance the innovative capabilities and will enhance the communication effectiveness with customers. In current environment, information systems are crucial factors determining the effectiveness of organizational learning because the information systems will create good conditions for organizational members to share and exchange information in the most effective and quickest ways. Technology innovations will help organizational members to learn new knowledge and new skills. In addition, organizations need to pay much attention to organization climate that increase the solidarity between organizational members and ensure organizational justice (Elahi et al., 2014; Lueg, 2015). 2. Literature regarding Strategy Map A Strategy Map is a diagram which describes how a company creates values by connecting strategic goals in four aspects (financial aspect, customer aspect, internal business process aspect and learning & growth aspect) (see figure 3). There are five key principles behind Strategy Map, that is, (1) strategy balances contrast elements, (2) strategy is dependent upon a differentiated/ unique customer value proposition, (3) strategy includes complementary and simultaneous themes, (4) value is created through process of internal business, and (5) strategic alignment decides the values of intangible asset (Quezada et al., 2009). Creation of values through intangible assets is indirect but can be incremental through a range of cause and effect relations and creation of values will be associated with the context that intangible asset is aligned (Olia et al., 2010). The Strategy Map transfers the strategy into high focus for actions, creation of values and measurement of performance (Jassbi et al., 2011). Themes of value creation can be (1) customer centricity, (2) world class accreditation, (3) just in time, (4) waste management, (5) new product development, (6) internal organizational development, (7) organizational engagement and (8) relationship management (Moosavirad and Godsian, 2016). 16
  • 81.
    The strategic themescreate good conditions for organizations to enhance long-term shareholder values through the strategy of productivity and the strategy of growth, to create valid customer value propositions, to conduct operations management effectively, to perform customer management well, to implement innovation management efficiently, to conduct regulatory and social management effectively, to increase human capital, to enhance information capital and to increase organizational capital (Barad and Dror, 2008). The Balanced Score Card achieves a system of performance measurement for conduction of vision and strategy through organizational alignment, with a high focus on measurable results. The Balanced Score Card proves the strategic goals can be gained by linking causal relations through four aspects of the Balanced Score Card. The notion of linkage creates the Strategy Map. The Strategy Map has been regarded as a crucial innovation from the Balanced Score Card. The Strategy Map has a description regarding how values are created, how strategic themes create new values and how intangible asset alignment achieves strategic results for creation of values in the long time. In simple terms, the Strategy Map reflects how organizations can create values for sustainability of business, derived from four aspects in the Balanced Score Card and then, it offers the important link amongst formulation of strategy and implementation of strategy (Olia et al., 2010). Figure 3: Strategy Map 17
  • 82.
    Source: Kaplan andNorton (2001) For the four aspects in the Balanced Score Card (financial aspect, customer aspect, internal business process aspect and learning & growth aspect), organizations must identify objectives, must give measurements, must have targets, must have cost evaluations. For example, an organization has a strategic theme regarding development of new product. The organization must identify objectives of development of new product, measurements to evaluate the achievement of the objectives, targets to be gained, and cost evaluations for conducting the development of new product (Jassbi et al., 2011). Enhancement of long-term shareholder values is very important for organizations to gain the high positions in their business markets. To enhance the long-term shareholder values, the organizations must pay much attention to customer value propositions, customer growth, customer retention, customer purchase, customer selection, marketing, competitor analysis, customer care, employee training programs, customer relationship management, information technology communications, and sales management. In addition, the organizations must pay 18
  • 83.
    much attention tomanage customer feedback, information sharing between organizational members, marketing leadership, and innovations of products/ services (Moosavirad and Ghodsian, 2016). When the organizations ensure the balance between financial aspect, customer aspect, learning & growth aspect and internal business process aspect, they will gain the sustainable business growth in the long time and will gain the sustainable competitive advantages such as high market share, high customer base, high customer loyalty, unique and differentiated products/ services, technological innovation, technology expertise, etc. (Lueg, 2015). II. Positive business transformation for the sustainability of business in the future After reviewing key theories regarding Balanced Score Card, and Strategy Maps, there are three key aspects which organizations can emphasize to have good business transformation to enhance the future business sustainability as follows: First, organizations must create positive working environment to have the good business transformation to enhance the future business sustainability. In detail, the positive working environment will encourage staffers to work based on their teams, will assure mutual respect and support amongst the staffers, will create challenging jobs for staffers and will allow job autonomy of the staffers. All things will create an advantaged condition for the organizations to achieve the future business sustainability. Second, organizations must create positive organizational culture which supports organizational change, increases organizational innovation and focuses much on meeting needs of customers. When the organizations can create such organizational culture, the organizations will be the leading organizations in innovation of products/ services and will have high positions in thoughts of consumers. The consumers have positive comments about the brands of the organizations. Last, organizations must concentrate much on satisfying expectations and needs of staffers for performing organization changes rather than forcing the staffers to perform the organizational 19
  • 84.
    changes only accordingto expectations of the top management. Then, the organizations will gain the positive business transformation to enhance the future business sustainability. Indeed, organizations need to investigate needs and expectations of staffers for performing organizational changes and need to explain the importance of organizational changes for the staffers to gain the support from the staffers rather than resistance from the staffers. PART THREE – REFLECTION FOR ENHANCEMENT OF EMPLOYABILITY I. Core capabilities and critical thinking are needed to achieve the task of consultancy for Sony Corporation Core capabilities of a consultant for performing the task of consultancy for Sony Corporation effectively are that the consultant has to have adequate forecast about the future of Sony Corporation within the next two years so that the consultant can give effective solutions for solving problems and risks regarding the business operations of this corporation and that the consultant has to have the high ability of persuasion and the effective ability of communication to make the client organization put the great trust in suggested solutions. In addition, to achieve the task of consultancy for Sony Corporation in terms of organizational change, a consultant has to have the critical thinking about external environment elements and internal environment elements which can influence the business effectiveness of this corporation so that the consultant can give suitable and flawless solutions for changing inefficient organizational aspects, and developing efficient organizational aspects. In detail, the consultant has to know actions of competitors of Sony Corporation in the future, changes in demands of consumers in the future, governmental expectations in the electronics industry in the future, input expenses of Sony Corporation, business effectiveness of Sony Corporation in the future, the economy growth level of the electronics business markets of Sony Corporation, capability of production of Sony Corporation, speed of change in technologies in the electronics industry, the competition level between electronics organizations, business strategies of competitors of Sony Corporation, competitive strategies of competitors of Sony Corporation and strategies of development of new products of competitors of Sony Corporation. 20
  • 85.
    II. My competencies,skills and knowledge for effectively completing the task of consultancy for Sony Corporation I have had high knowledge regarding opportunities and threats in the external environment of Sony Corporation, current productivity and current business performance of this corporation and weaknesses and strengths of this corporation. In detail, Sony Corporation is facing the threat in terms of fierce competition in the electronics industry, the threat of maintaining the environment sustainability, and the threat of new entrants. Sony Corporation can gain business opportunities from the increasing needs of consumers for electronics products in the world, and stable economic development of nations in Asia, Europe and Americas. Strengths of Sony Corporation are as follows: Strong business presence in Europe and Asia, technological innovation and expertise, a various range of electronics products, powerful electronics brands, and large business capital. However, weaknesses of Sony Corporation are as follows: High business operation costs and weak business presence in Americas. Hence, I assure that suitable and flawless solutions regarding organizational change for Sony Corporation will be suggested from my high knowledge. My communication skill, my listening skill and persuasion skill are effective and then, I can convince organizational members of Sony Corporation to perform organization change in the effective ways. In detail, I am a confident individual in interacting and communicating with people to express my goals and expectations and I always listen to viewpoints of other people because listening to viewpoints of other individuals will create an advantaged condition for me to make more effective decisions and will show my respect to their viewpoints. Moreover, I have had the high ability to convince other individuals to believe my decisions and solutions because I always make decisions and give solutions after making references to ideas of other individuals and after evaluating issues carefully. III. Leadership skills related to consultancy are required for future individual development and future career accession Effective leadership skills are extremely needed for the success of an independent consultant. In detail, the consultant is an outsider to an organization and he/ she always support the 21
  • 86.
    organization to performorganizational change effectively. The majority of staffers inherently have resistance to organizational changes, especially when the organizational changes are proposed and begun from the outsider (consultant) because of uncertainty and fear. When lacking effective leadership skills, a consultant’s flawless solutions for organizational change will not be successful in performing because of the organizational members’ resistance (Moore, 2016). Leadership skills regarding consultancy are about inspiring organizational members to conduct what the consultant wants them to perform. In order to increase the efficiency of organizational changes, a consultant needs to prove his or her leadership skills to make organizational members to work with him or her in performing organization change (Stanier, 2016). Effective leadership skills of a consultant begin from a deep understanding about the problems of his or her corporate clients such as unclear communication system, low profits, low sales, staff conflicts, slow business development, etc. and then, the consultant has to convince organizational members about the efficiency of performing organization change. In addition to the high knowledge regarding problems of his or her corporate clients and skill of persuasion, a consultant needs to have other consultancy-related leadership skills like effective listening skill, skill of building relationship, and effective communication skill to increase the trust of his or her corporate clients in his or her problem-solving solutions. In detail, regarding the listening skill, when solutions of a consultant for performing corporate changes are resisted by corporate members, the consultant needs to listen to needs and expectations of the corporate members and then, he or she should explain that conduction of organizational change will be needed and useful for the corporate members (Moore, 2016). Concerning about the skill of building relationship, the consultant has to know the approach to satisfy his or her corporate clients and the consultant has to build positions relationships with leaders and managers who have high effects on organizational change. For the communication skill, the consultant has to conduct active communications with his or her corporate clients so that the clients can express their problems and the consultant can indicate the significance of organizational change for organizational members. In general, in addition to the high knowledge regarding task of consultancy, leadership skills regarding consultancy that are required for future career 22
  • 87.
    accession and futureindividual development are effective skills for building relationship, effective listening skill, effective communication skill and effective persuasion skill. 23
  • 88.
    REFERENCES Baines, P., Fill,C. and Rosengren, S. (2016). Marketing. Oxford: Oxford University Press. Barad, M. and Dror, S. (2008). Strategy maps as improvement paths of enterprises. International Journal of Production Research, 46(23), pp. 6627-6647. Benn, S., Dunphy, D. and Griffiths, A. (2014). Organizational change for corporate sustainability. New York: Routledge. Chavan, M. (2009). The balanced scorecard: a new challenge. Journal of Management Development, 28(5), pp. 393 – 406. Cirjevskis, A. (2016). Designing dynamically “signature business model” that support durable competitive advantage. Journal of Open Innovation: Technology, Market and Complexity, 2(15), pp. 1-21. Dumitrescu, C. and Scalera, F. (2012). Strategies of multinational enterprises. International Journal of Business and Commerce, 1(7), pp. 12-26. Elahi, S., Hoseini, S. H., Dadress, M. and Zafari, N. (2014). Design of a strategic map for manufacturing companies utilizing important performance index of balanced score card and DEMATEL (case study: Mihan corporations). Journal of Industrial Management Tehran University, 6(1), pp. 1-22. Frynas, J. G. and Mellahi, K. (2015). Global strategic management. Oxford: Oxford University Press. Greatbanks, R. and Tapp, D. (2007). The impact of balanced scorecards in a public sector environment; Empirical evidence from Dunedin City Council, New Zealand. International Journal of Operations & Production Management, 27(8), pp. 846–873. 24
  • 89.
    Hitt, M. A.,Ireland, R. D. and Hoskisson, R. E. (2016). Strategic management: Concepts: Competiveness and globalization. New York: Cengage Learning. Jassbi, J., Mohamadnejad, F. and Nasrollahzadeh, H. (2011). A fuzzy DEMATEL framework for modeling cause and effect relationships of strategy map. Expert Systems with Applications, 38(5), pp. 5967-5973. Jung, S. C. (2014). The analysis of strategic management of Samsung Electronics Company through the generic value chain model. International Journal of Software Engineering and Its Applications, 8(12), pp. 133-142. Kaplan, R. S. and Norton, D. P. (1996). The Balanced Scorecard: Translating strategy into action. Boston: HBS Press. Kaplan, R. S. and Norton, D. P. (2001). The strategy-focused organization: how balanced scorecard companies thrive in the new competitive environment. Boston: HBS Press. Lueg, R. (2015). Strategy maps: the essential link between the balanced scorecard and action. Journal of Business Strategy, 36(2), pp. 34-40. Moore, R. (2016). Life leverage: how to get more done in less time, outsource everything & create your ideal mobile lifestyle. New York: John Murray Learning. Moosavirad, S. H. and Ghodsian, H. (2016). Strategy map of Iran technical and vocational training organization. Journal of Administrative Management, Education and Training, 12(4), pp. 106-116. Naganathan, V. (2013). A comparative analysis on Sony’s approach to problem solving and decision-making. International Journal of Management and Business Research, 3(1), pp. 69-88. Olia, M. S., Mirghafoori, S. H.and Shahvazian, S. (2010). Establishment of an organizational strategic map utilizing ISM (interactive structural modeling): Case study on Yazd Baspar 25
  • 90.
    corporations. Scientific andResearch Journal of Business Management Discoveries, 4(2), pp. 92- 106. Poureisa, A., Ahmadgourabi, M. B. A. and Efteghar, A. (2013). Balanced scorecard: a new tool for performance evaluation. Interdisciplinary Journal of Contemporary Research in Business, 5(1), pp. 974-978. Quezada, L. E., Cordova, F. M., Palominos, P., Godoy, K. and Ross, J. (2009). Method for identifying strategic objectives in strategy maps. International Journal of Production Economics, 122(1), pp. 492-500. Ridwan, R., Harun, H., An, Y. and Fahmid, I. M. (2013). The impact of the balanced scorecard on corporate performance: the case of an Australian public sector enterprise. International Business Research, 6(10), pp. 103-110. Schmidt, S. W., Shelley, M. C. and Bardes, B. A. (2016). American government and politics today. New York: Cengage Learning. Sony Corporation. (2011). Annual report of Sony Corporation in 2011. [Online]. Available from https://www.sony- latin.com/corporate/SOLA/acerca/infocorporativa/pdf/info_financiera/SonyAR11-E.pdf (Accessed 03 February, 2017). Sony Corporation. (2012). Annual report of Sony Corporation in 2012. [Online]. Available from https://www.sony- latin.com/corporate/SOLA/acerca/infocorporativa/pdf/info_financiera/SonyAR12-E.pdf (Accessed 03 February, 2017). Sony Corporation. (2013). Annual report of Sony Corporation in 2013. [Online]. Available from https://www.sony.net/SonyInfo/IR/library/ar/2013/shr/pdf/AnnualReport_E.pdf (Accessed 03 February, 2017). 26
  • 91.
    Sony Corporation. (2014).Annual report of Sony Corporation in 2014. [Online]. Available from http://www.sony.net/SonyInfo/IR/library/fr/13q4_sony.pdf (Accessed 03 February, 2017). Sony Corporation. (2015). Annual report of Sony Corporation in 2015. [Online]. Available from https://www.sony.net/SonyInfo/IR/library/FY2014_20F_PDF.pdf (Accessed 03 February, 2017). Stanier, M. B. (2016). The coaching habit: Say less, ask more & change the way you lead forever. New York: Box of Crayons Press. The World Bank. (2016). GDP growth (annual %). [Online]. Available from http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG (Accessed 03 February, 2017). Zakaria, M., Garanca, Z. and Sobeih, A. (2012). Cultural and legal challenges in implementing code of conduct in supply chain management of mobile phone industries: Sony Ericsson case study. Social Responsibility Journal, 8(2), pp. 227-241. Zizlavsky, O. (2014). The balanced scorecard: innovative performance measurement and management control system. Journal of Technology Management & Innovation, 9(3), pp. 210- 222. 27
  • 92.
    Bạn đang phảivừa học vừa làm. Các bài ESSAY, ASSIGNMENT, DISSERTATION, COURSEWORK... làm cho bạn cảm thấy lo lắng và căng thẳng. Với 5 năm kinh nghiệm , mình tự tin sẽ giải quyết mọi bài vở theo yêu cầu từ A đến Z cho các bạn du học sinh. Đừng chần trừ hãy liên hệ ngay với mình. Mr Đỗ Tấn Hoàng dotanhoang91@gmail.com https://www.slideshare.net/HoangDoTan một số bài mình đã làm để các bạn tham khảo Cảm ơn các bạn đã và đang ủng hộ mình trong 5 năm qua #assignmenthelp #dissertationhelp Kết nối với mình tại: Facebook: https://www.facebook.com/dotanhoang91