Using the Balanced Scorecard to Build An Office of
Strategy Management
Ron Miller is a Senior Director of the IT Strategy Management Office of the American Red Cross. His role as a leader in strategic management has given him first-hand insights into implementing an office of strategy management and understanding the benefits awarded with such a program. The notion of OSM was developed through the balanced scorecard approach to performance. According to the Balanced Scorecard Collaboration, 9 out of 10 firms fail to initiate their strategies. Having in place OSM reduces this tendency of not completing long-term goals.
In addition to its effectiveness in creating a strong atmosphere for encouraging strategic execution, this system enhances the entire strategic planning process from creation to collecting feedback. With OSM, there exists organization ownership for strategy execution. Ownership facilitates innovation and the drive to succeed. Ultimately, an alignment between strategies, budgets and personnel development plans will form as a result of OSM. Finally, through OSM, a corporation will find the basis of a balanced scorecard will come through when evaluating the execution of strategic initiatives.
Miller’s presentation on OSM was concluded by simple, yet powerful statements on the role of an office of strategy management: Strategy needs a champion. Strategy needs dedicated leadership and staff. Strategy needs continuous attention and strategy needs alignment with operational and personnel plans. To read more about OSM or learn about the American Red Cross’ office of strategy management, please click here.
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