Sanjiv Anand - Execution Excellence Making Strategy Work Using the Balanced Scorecard

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Copyright 2016 by Sanjiv Anand. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Names: Anand, Sanjiv, author.

Title: Execution excellence : making strategy work using the balanced

scorecard / Sanjiv Anand.

Description: Hoboken, New Jersey : John Wiley & Sons, Inc., [2016] | Includes

index.

Identifiers: LCCN 2015048159| ISBN 9781119196464 (hardback) | ISBN

9781119196488 (ebk); ISBN 9781119196471 (ebk)

Subjects: LCSH: Balanced scorecard (Management) | Strategic planning. |

BISAC: BUSINESS & ECONOMICS / Strategic Planning.

Classification: LCC HD58.93 .A53 2016 | DDC 658.4/012--dc23 LC record

available at http://lccn.loc.gov/2015048159

This book is dedicated to my wife, Monica, and to my boys, Sahil and Jai, for tolerating my 30 years of travel in trying to make strategy work for clients.

To my dad, who taught me consulting and how to be a good human being. And to my mom, who helped my dad and me follow our dreams.

This is my second book. My father always encouraged me to write. He felt that it was a great way for people to share their experiences with others. As a management consultant, he had a number of stories that he loved to tell which encouraged me to follow the same career path. In an average year, a consultant goes through 10 client experiences, managing over 10 relationships with each client. That's 100 relationships a year, with another 100 added every year you're in the business. As a result, management consultants enjoy many more professional relationships than people in other jobsmore than some people cultivate over an entire lifetime. This wonderful opportunity also comes without your having to go to the same office every day. Almost every day, I'm in a different city, plane, taxi, officeeven in a different time zone. It sounds tiring, but I don't regret a single day of what I have done in the past 30 years of my life, no matter how hard it has been.

And this book is that story. I have seen companies of all shapes and sizes in every part the world attempt to commit to being strategy-focused and performance-oriented organizations. From a major consumer electronics retailer in the United States and a duty-free operator in the United Kingdom, to a Georgian bank in Tbilisi and a family-owned business in Abu Dhabi, to a telecom company in India and a stock exchange in Singapore. Some succeed, some do moderately well, and some die.

This book is not about the theory of strategy and its execution; I don't have a PhD, and it's too late to get one. It is about strategy and its execution in the real worldand believe me, after all I have seen, it is clear that the real world is different than what books make it out to be. In some markets, the strategy can be complex. In other markets, the strategy is simple because the market is simple. Irrespective of the complexity of the market or the strategy, what matters is the execution. It's about getting the strategy executed, within the timelines you have, with the resources you can bring to the table to achieve the results you desire. That's execution excellence.

In my first 10 years executing strategy as a consultant, I did not use the Balanced Scorecard (BSC). Discovering the BSC overhauled my approach and in the years since, I have found time and again that there is no better framework to help you execute strategy successfully. That is what this book is about.

The material is presented in two distinct parts. The first explains how to design the BSC to execute your strategy, and the second covers how to ensure its successful implementation. To reach execution excellence, success in both areas is critical.

You will find many books on the subject of BSC or strategy execution. This one takes a practical approach, using real-world lessons to learn about what actually happens.

Enjoy the ride!

It would be impossible to write a book about execution excellence without thanking the clients I've had over my 30-year career. At last count, there were over 200 of them, across 30 different industries, in 25 countries, and of many nationalities. From young entrepreneurs to seasoned industrialists, from government executives to college deans, I thank you all. Thank you not only for the opportunity to work with you, but also for your trust and openness as you shared your thoughts with me. You have taught me so much about execution and business. Yes, I admit it. Consultants learn from their clients, and also pass that knowledge forward. Life and learning is always about interaction. As is this book.

None of this would ever have been possible without my colleagues. Consulting and execution of strategy is all about teamwork. Since my early days in Chicago, where I learned the art of consulting, to New York, Mumbai, Dubai, and infinite other locations, my colleagues have been next to me and our clients, making strategy work. Special thanks go to V. Ramkumar, Chetan Parekh, and Amit Jain, who have been with me through this process for over 10 years. My gratitude also goes to all my bosses who, since 1985, have also been my well-wishers. And lastly to one of my young consultants, Aditi Kothari, for having helped me through the process of completing this book.

And I do believe in God, so thank you, God, for the opportunities you have provided and the happiness that has come with them.