Abstract
This chapter presents how management should prepare an effective strategy execution (see Fig. 3.1). The first task is to formulate the enterprise strategy and define associated measurable strategic objectives. A prerequisite to define measurable objectives is a shared definition and understanding of the performance indicators, which can be utilized to measure the current status of performance as well as the extent to which initiatives to reach the strategic objectives have been successful. But then there is one major task left to actually measure and track the performance over time. Tracking multiple performance indicators for different levels of the organization quickly becomes a complex task which can only be managed with the help of information technology.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Strategic Business Intelligence Frameworkâ„¢ is trademarked by Bernd Heesen/Prescient.
- 2.
Strategic Business Intelligenceâ„¢ is trademarked by Bernd Heesen/Prescient.
- 3.
Strategic Business Intelligence Frameworkâ„¢ is trademarked by Bernd Heesen/Prescient.
References
Accenture. (2008b, December 11). Most U.S. companies say business analytics still future goal, not present reality. Retrieved November 16, 2010, from http://newsroom.accenture.com/article_display.cfm?article_id=4777
Accenture. (2010). Weak analytics capabilities hindering companies’ and governments’ decision-making abilities, Accenture research reveals. Retrieved February 19, 2010, from http://newsroom.accenture.com/article_display.cfm?article_id=4935
Alexander, S. (2008, October 22). Volkswagen nutzt BI mit System [Volkswagen uses BI system systematically] (Computerwoche 44/2008). Retrieved November 3, 2010, from http://www.computerwoche.de/heftarchiv/2008/44/1225096/
Andler, N. (2008). Tools for project management, workshops and consulting: A must-have compendium of essential tools and techniques. Erlangen: Publicis.
Andreyeva, T., Long, M. W., & Brownell, K. D. (2010). The impact of food prices on consumption: A systematic review of research on the price elasticity of demand for food. Retrieved January 16, 2011, from http://ajph.aphapublications.org/cgi/content/abstract/100/2/216
Bossidy, L., & Charan, R. (2002). Execution: The discipline of getting things done. New York, NY: Crown Publishing.
Brandenburger, A. M., & Stuart, H. W. (1996). Value-based business strategy. MIT Journal of Economics & Management Strategy, 5(1), 5–24. Retrieved November 1, 2010, from http://pages.stern.nyu.edu/~abranden/ValueBasedStrategy2.pdf
Buytendijk, F. (2009). Performance leadership: The next practices to motivate your people, align stakeholders, and lead your industry. New York: McGraw-Hill.
Codd, E. F., Codd, S. B., & Salley, C. T. (1993). In depth: Beyond decision support. Computerworld, 27(30), 87–89.
Collis, D. J., & Montgomery, C. A. (1995). Competing on resources. Harvard Business Review, 73(4), 118–128.
CompUSA Inc. (2011). About us. Retrieved March 30, 2011, from http://www.compusa.com/sectors/aboutus/index.asp
Cooper, J. C. (2003). Price elasticity of demand for crude oil: Estimates for 23 countries. Retrieved January 12, 2011, from http://15961.pbworks.com/f/Cooper.2003.OPECReview.PriceElasticityofDemandforCrudeOil.pdf
Day, G. S., Reibstein, D. J., & Gunther, R. E. (1997). Wharton on dynamic competitive strategy. Hoboken, NJ: Wiley.
Dresner Advisory Services. (2011). The business intelligence study. Retrieved March 23, 2011, from http://business-intelligence-study.com/
Eckerson, W. W. (2006). Performance dashboards: Measuring, monitoring, and managing your business. Hoboken, NJ: Wiley.
Eckerson, W. W. (2009). Beyond reporting: Delivering insights with next-generation analytics (TDWI 2009 Q3 Best Practices Report). Retrieved November 19, 2010, from http://tdwi.org/research/2009/07/bpr-3q-beyond-reporting/bpr_3q09_report.aspx?tc=assetpg&LCSKey=d80fe836-d926-435a-9266-ce9b43415712
Fair Isaac Corporation. (2009c). Optimization drives $19 million gains at Avis. Retrieved November 17, 2010, from http://www.fico.com/en/FIResourcesLibrary/Avis_Success_2540CS.pdf
Federal Express Corporation. (2011). FedEx innovation. Retrieved March 14, 2011, from http://about.fedex.designcdt.com/our_company/fedex_innovation
Flottau, J. (2010, May 19). Airbus: Verlustbringer A380—Flug ins Ungewisse. Retrieved September 16, 2010, from sueddeutsche.de. http://www.sueddeutsche.de/wirtschaft/airbus-verlustbringer-a-flug-ins-ungewisse-1.947454
Fortune. (2009, May 4). Fortune 500: Our annual ranking of America’s largest corporations 2009—Top industries: Most profitable. Retrieved September 16, 2010, from http://money.cnn.com/magazines/fortune/fortune500/2009/performers/industries/profits/equity.html
Fortune. (2010, May 3). Fortune 500: Our annual ranking of America’s largest corporations 2010—Top companies: Most profitable. Retrieved September 16, 2010, from http://money.cnn.com/magazines/fortune/fortune500/2010/performers/companies/profits/
Hamel, G., & Phahalad, C. K. (1994). Competing for the future: W. Boston, MA: Harvard Business School Press.
Heesen, B. (2010). Business intelligence: Correlating performance to communication. In R. Schuttler (Ed.), Laws of communication: The intersection where leadership meets employee performance (pp. 141–152). Hoboken, NJ: Wiley.
Henschen, D. (2010, August 7). The big data era: How data strategy will change—From Barnes & Noble to Cabela’s to Catalina Marketing, big companies are shifting their approaches. Retrieved November 16, 2010, from http://www.informationweek.com/news/business_intelligence/warehouses/showArticle.jhtml?articleID=226600091
Hormby, S., Morrison, J., Meyers, M., Dave, P., & Tenca, T. (2010, June 18). Marriott International increases revenue by implementing a group pricing optimizer. Retrieved October 4, 2010, from http://revenue-mgt.section.informs.org/download/Marriott_Informs_RMP_Presentation.pdf
INFORMS Revenue Management and Pricing Section. (2010). News. Retrieved October 4, 2010, from http://revenue-mgt.section.informs.org/news.html
Ittner, C. D., & Larcker, D. F. (2003). Coming up short on nonfinancial performance measurement. Harvard Business Review, 81(11), 88–95.
Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard: Measures that drive performance. Harvard Business Review, 70(1), 71–79.
Kaplan, R. S., & Norton, D. P. (1996). The balanced scorecard: Translating strategy into action. Boston, MA: Harvard Business School Press.
Lendio. (2011). FedEx Corporation. Retrieved February 12, 2011, from http://www.fundinguniverse.com/company-histories/FedEx-Corporation-Company-History.html
Lingle, J. H., & Schiemann, W. A. (1996). From balanced scorecard to strategic gauges: Is measurement worth it? Management Review, 85(3), 56–62.
Luhn, H. P. (1958). A business intelligence system. IBM Journal, 24, 314–319.
Mihailovich, S. (2005). Harrah’s database grows with Ceasars deal. Las Vegas Business Press, 22(33), 1–10.
Millward Brown Optimor. (2010). TOP100: Most valuable global brands 2010. Retrieved September 17, 2010, from http://c1547732.cdn.cloudfiles.rackspacecloud.com/BrandZ_Top100_2010.pdf
Mintzberg, H., Ahlstrand, B., & Lampel, J. (1998). Strategy safari: A guided tour through the wilds of strategic management. New York: Free Press.
Moody, D., & Walsh, P. (1999, June 23–25). Measuring the value of information: An asset valuation approach. Proceedings of the 7th European Conference on Information Systems (ECIS ‘99) (pp. 496–512). Copenhagen, Denmark.
Niven, P. R. (2002). Balanced scorecard step-by-step: Maximizing performance and maintaining results. Hoboken, NJ: Wiley.
Panko, R. R. (2008). What we know about spreadsheet errors. Retrieved October 28, 2010, from http://panko.shidler.hawaii.edu/My%20Publications/Whatknow.htm
Panko, R. R., & Aurigemma, S. (2010). Revising the Panko-Halverson taxonomy of spreadsheet errors. Decision Support Systems, 49(2), 235–244. Retrieved October 28, 2010, from http://panko.shidler.hawaii.edu/ssr/
Pfeffer, J., & Sutton, R. I. (2006). Hard facts, dangerous half-truths, and total nonsense: Profiting from evidence-based management. Boston: Harvard Business School Press.
Porter, M. E. (2004a). Competitive advantage: Creating and sustaining superior performance. New York, NY: Free Press.
Porter, M. E. (2004b). Competitive strategy: Techniques for analyzing industries and competitors. New York, NY: Free Press.
Radcliff, D. (2000, April 10). Aligning Marriott. Retrieved November 3, 2010, from http://www.computerworld.com/s/article/44339/_Aligning_Marriott
SAP. (2011). SAP Crystal solutions. Retrieved March 20, 2011, from http://www.sap.com/solutions/sap-crystal-solutions/index.epx
Schwaninger, M. (2009). Intelligent organizations: Powerful models for systemic management (2nd ed.). Berlin: Springer.
The Economist Intelligence Unit. (2006). Business intelligence: Putting information to work. Retrieved October 28, 2010, from http://graphics.eiu.com/files/ad_pdfs/eiu_intel_sap_Business_intelligence_.pdf
Vitale, M. R., & Mavrinac, S. C. (1995). How effective is your performance measurement system? Management Accounting, 77(2), 43–47.
Vitt, E., Luckevich, M., & Misner, S. (2002). Business intelligence: Making better decisions faster. Redmond, WA: Microsoft Press.
Volkswagen Group. (2011). Experience d[r]iversity: Facts and figures navigator 2011. Retrieved April 1, 2011, from http://www.volkswagenag.com/vwag/vwcorp/info_center/en/publications/2011/03/Navigator_2011_-_Facts_and_Figures.-bin.acq/qual-BinaryStorageItem.Single.File/NAVIGATOR_2011.WEB150dpi_englisch.pdf
White, C. (2004). Strategic management. New York, NY: Palgrave Macmillan.
WHO. (2010). Executive summary: The world health report. Retrieved February 20, 2011, from http://www.who.int/whr/2010/10_summary_en.pdf
WHO. (2011). About WHO. Retrieved February 20, 2011, from http://www.who.int/about/en/
Wikipedia. (2010c). List of countries by GDP (nominal). Retrieved October 31, 2010, from http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
Wikipedia. (2010d). Metacognition. Retrieved November 15, 2010, from http://en.wikipedia.org/wiki/Metacognition
Wikipedia. (2011a). Christopher Columbus. Retrieved February 17, 2011, from http://en.wikipedia.org/wiki/Christopher_Columbus
Zook, C., & Allen, J. (2010). Profit from the core: A return to growth in turbulent times. Boston: Harvard Business Press.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Heesen, B. (2016). Preparation for Strategy Execution. In: Effective Strategy Execution. Management for Professionals. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-47923-0_3
Download citation
DOI: https://doi.org/10.1007/978-3-662-47923-0_3
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-662-47922-3
Online ISBN: 978-3-662-47923-0
eBook Packages: Business and ManagementBusiness and Management (R0)