Strategy: The Core of Every Balanced Scorecard
Roadmap for Chapter 6 In writing this book, my hope is that readers will find it relevant for years to come—just how many years is anyone’s guess. Of course, I can only dream about having the staying power of Sun Tzu, the Chinese General who authored a collection of essays on military strategy. The essays, best known to Western audiences by the title The Art of War, have been adapted to suit the needs of businesspeople, athletes, and politicians alike. The book, written over 2,300 years ago, has been a bestseller for years, and Sun Tzu is perhaps the most quoted Chinese personality in history outside of Confucius. Such is the power of strategy. Whether you wrote something valuable yesterday or 2,000 years ago, you’re sure to find a ready audience.
As the title of this chapter implies, strategy is truly at the core of every Balanced Scorecard. Essentially, the Scorecard is a tool for translating a strategy into action through the development of performance objectives and measures. My purpose in this chapter is to crack the quizzical code of strategy, demystify the concept, and providing you with tools to review your current strategy or enable you to craft a new and exciting future through the development of a freshly minted strategy.
To do that, we’ll explore the brief yet prodigious history of the subject, and examine what strategy is and, equally important, what it is not. Then, in case you’re still not convinced of the value of ...