How to implement a new strategy Essay Example | Topics and Well Written Essays - 750 words

How to implement a new strategy - Essay ExampleIn order to go up their point in their article, the authors present the analysis of two different companies, DuPont Engineering Polymers and the Royal Canadian attach Police. These companies used the tools of balanced scorecard strategy management to guide the decentralized units in their search for topical anaesthetic gain even as they identified authoritys for them to contribute to corporate wide objectives (Kaplan and Norton).Quite a few things need to be taken into consideration when a company picks a management system. The authors know that developing a management system with a balanced scorecard framework is the best way to start with a successful system. Three things should be considered when doing this the customer perspective, the financial perspective, and the learning and growth perspective. Prioritizing is similarly definitive. Several companies have successfully benefited from this approach by picking three to five st rategic basiss in order to prioritize the different enterprises of the company. Collecting these strategic themes and ideas can help to give the company tenseness on what it needs to both work on and focus on when developing its strategy. Some important themes can focus around customers for example, the need to lower cost for customers, the need to attract other(a) customers that whitethorn be beneficial to the business, and ways to make relationships with customers even more important by cross-selling or providing them with other services that they may need. Executive teams will need to identify strategic initiatives that support each theme and make sure that the resources, mainly the money and the manpower, are there to support each initiative.Scorecard base systems can be very effective for companies. They can help to measure performance and link unitedly goals within the company. These themes help the corporation focus on its goals and priorities. In order to demonstrate th is, the article moves into bountiful