Strategy execution: Robert Kaplan, Dubai, 2014
In the last day of the Strategy Leaders Forum, Dr. Robert Kaplan delivered a Balanced Scorecard Masterclass. He is Baker Foundation Professor at Harvard Business School and a former Dean of the Graduate School of Industrial Administration, Carnegie-Mellon University.The main topics covered in the presentation:- Leading change;
- Strategy execution system;
- Managing risks.
Source: Robert Kaplan, Strategy Leaders Forum, 2014.
Connecting the idea of change with leadership, he cites Jack Welch who said to “Change before you have to”. Leadership is not self-sufficient. Businesses need management tools to implement the vision, highlighting that inspirational leadership and effective management must work in harmony.
For the strategy execution system, Robert Kaplan exposed the Kaplan-Norton six-stage closed loop management system for strategy execution, as mentioned below:
- Develop the strategy;
- Translate the strategy;
- Align the organization;
- Plan operations
- Monitor and learn;
- Test and adapt.
Robert Kaplan also emphasized the importance of differentiating risk management from strategy management. Risk management focuses on uncertainties that could impair mission and strategic objectives. The three different risk management approaches that he presented are:
- Preventable;
- Strategy execution risks;
- External risks.
Source: Robert Kaplan, Strategy Leaders Forum, 2014.
Image source:
- Kaplan, R. (2014, April). Balanced Scorecard Masterclass. Presentation conducted at the Strategy Leaders Forum, Dubai, UAE.
Tags: IIRME, Performance in Dubai, Performance in UAE, Strategy Leaders Forum, The KPI Institute