BoConcept
Strengthen strategy execution with clear targets
In busy times, BoConcept’s management sometimes felt a lack of overall coordination between their long-term targets and the concrete initiatives taken to reach those targets, particularly if a specific initiative was not quite on track. They needed greater transparency in the business to become more agile and take swifter, consistent action.
The How
BoConcept had to emphasise targets and how those were to be reached. Strategic targets and indicators for measuring progress were identified to help assign priorities to the various strategic initiatives.
One BoConcept employee headed the strategy process, another the business controlling. They made sure that in-house knowledge about the ongoing strategy process and measuring, data gathering and IT processes was instantly available. An experienced performance management consultant combined this knowledge with his insights into how process methodology, useful strategic, measuring and reporting tools could be created, and the BoConcept people could be taught to use them.
The result is a simpler and better overview of the links between the strategic objectives, KPIs, targets and initiatives, and a continuous follow-up process increases everyone’s ownership for reaching the targets and ensures progress.
The project was mainly carried out by our own in-house staff with the very capable assistance of a Valcon consultant, who showed us how to use a range of tools and made sure that the strategy process proceeded smoothly.
Hans Barslund CFO, BoConcept
Strategy translated into every day work
Better governance structure