Many companies operate within functional silos where the CFO is responsible for all things finance and the CHRO is responsible for all things employee. This often leads to conflicting efforts that can prove detrimental to the organization. CFOs often focus on hard metrics like ROI, profit margin, and inventory shrinkage. These types of metrics are often more comfortable for finance...
There is little doubt that the rules of business have changed. Because of technology and social media, clients drive business behavior more than ever before in history. Client satisfaction isn’t good enough anymore — client loyalty has become the holy grail of leading indicators to predict future financial performance. And, inefficient and ineffective processes directly affect those client loyalty scores....
The balanced scorecard strategic planning and management system is the brainchild of Robert Kaplan and David Norton. It was originally created as a performance measurement framework which added non-financial measures to the mix of KPIs used by leaders to give them a more balanced view of organizational performance. Over time, the balance scorecard evolved into a mechanism for taking a...
What makes people passionate? In the age of knowledge work, employees crave the feeling that comes from knowing that the work they are doing is making a contribution towards the company’s success. Let’s face it, most people don’t want just a paycheck. They want to be a part of something bigger than themselves. This is the essence of employee engagement. Engaged...
Strategy execution is one of the key ingredients in the secret sauce of successful companies. But more often than not, companies don’t effectively translate their strategy into action. In many cases, leaders state a vision and then either put it on a shelf or just assume that everyone knows what to do to get there. But in order to make...
Peter Drucker famously quipped that “Culture eats strategy for breakfast”. But maybe culture and strategy should just be friends and eat breakfast together. Culture All companies have an organizational culture, whether they focus on it or not. Culture is all about the attitude of the company, it’s beliefs and values. It influences how people behave. Companies like Google and Zappos have very...