I’d like to talk about a term I like to use in planning: TOTAL SUCCESS
I see it as great description of what I believe every organization should be focusing on in their management of organizational strategy. Successful companies know that you can’t be successful financially without focusing on all of the following:
– customer relationships, brand equity development
– business processes, technology
– people resources, culture, competencies, development
… and oh, yeah – financials.
Your business success hinges on ALL of these components. Financial success is nothing more than an outcome of the your success in these areas.
Total success doesn’t mean squeezing out profits at the expense of burning out your best people, saving money by deferring important investments in customer value building technology. TOTAL SUCCESS is the only sustainable way to build your business: it’s by focusing on ALL of the 3-5 critical focus areas of your organization at the same time. This is ultimately when organizational synergy takes place.
If you have a cultural issue (measured in the “People/Culture” perspective of your scorecard) it will affect the bottom line (financial perspective), could decrease customer satisfaction (customer perspective), and decrease innovative ideas that support ongoing refinement of your supply chain (business perspective).
By focusing on a more balanced strategic framework, you will see positive results.