Palladium Execution Premium Community™ (XPC) Launches Best Practice Exchange

BOSTON--(BUSINESS WIRE)--

Palladium Group, Inc., the global leader in helping organizations execute their strategies, announced today the creation of a Best Practice Exchange within the Palladium Execution Premium Community™ (XPC). XPC is designed to help practitioners share their knowledge and experience with strategy and performance management based on the Kaplan-Norton strategy management system. Best Practices Exchange is available exclusively to XPC platinum members.

The Kaplan-Norton strategy management system (K-N SMS) continues to evolve as best practices emerge from high performing organizations around the world. The creation of the Balanced Scorecard (BSC) represented a singular breakthrough in the field of management science. While the BSC remains at the center of the K-N SMS, other strategy management innovations have also emerged—including strategy maps, the five principles of the Strategy-Focused Organization, and the six stages of the Palladium Execution Premium Process™ (XPP). These developments have led to the creation of the world’s leading body of knowledge for helping organizations execute strategy and achieve breakthrough results. Palladium is dedicated to making this knowledge more widely available to strategy and performance management practitioners globally.

Many best practices have been documented based on the experience of Palladium Balanced Scorecard Hall of Fame for Executing Strategy® organizations that Palladium has studied and showcased. Organizations do not have to be in the Hall of Fame to implement and benefit from these best practices. By learning from the most successful implementations, each organization has the opportunity to accelerate its implementation, avoid missteps, and gain the benefits from this management approach that is in use in thousands of organizations worldwide.

Best Practice Exchange features a Best Practice Library, Best Practice-of-the-Month, a Member Forum (where members can discuss specific best practices, as well as start their own discussion), a Best Practice-of-the-Year award program, and in-person peer networking opportunities at Palladium annual summits held annually round the world. Program advisors include Dr. David Norton of Palladium Group and Marilyn Michaels (formerly with Ricoh Corporation, a Hall of Fame organization). “The ability of our community members to exchange best practices promises to accelerate their adoption worldwide,” observes Dr. David P. Norton, founder and director of Palladium Group. “We will all benefit from identifying and disseminating best practices from around the world that enable organizations to execute their strategies and to sustain their results.”

One example of a best practice is the Office of Strategy Management (OSM) to integrate several different strategy management processes. Lakshmi Machine Works, a textile manufacturer in India, a Hall of Fame winner, created a combined office of strategy and risk management that is responsible for monitoring strategy and evaluating risk factors and risk mitigation plans. The office uses a risk “register” to identify operational and market factors that can interfere with achieving strategic objectives. Risk mitigation initiatives are used to reduce or eliminate the risk factors.

Another best practice example comes from the Hall of Fame organization Rainbow Department Stores, in China. This retail chain uses decision analytic techniques to test the profitability of the strategy across product-lines, customer segments, sales channels, and regions. Rainbow conducts various statistical analyses to understand customer preferences, new market opportunities, and competitive threats. Rainbow is leveraging analytics to improve strategic performance by using customer data to make changes in their merchandizing approach.

Palladium XPC, an online membership-based community, features the world’s most comprehensive and authoritative body of knowledge on strategy and performance management. Using advanced social networking functionality, XPC facilitates 24/7 peer-to-peer networking, offering discussion forums, best-practice sharing, benchmarking data, a solutions center, and an ask-the-expert capability. It provides print and multimedia case studies, articles, executive interviews, toolkits, videos, and e-learning courses developed by Palladium Group and Harvard Business Publishing. To learn more about the Palladium XPC, or to see if you qualify for membership, visit http://www.thepalladiumgroup.com/xpc

About Palladium Group, Inc.

Palladium Group is the global leader in helping organization execute their strategies. Our expertise in strategy management, performance management, and business intelligence helps our clients achieve an execution premium. Our services include management consulting, technology implementation, executive conferences, certification, and online communities. The Palladium Balanced Scorecard Hall of Fame for Executing Strategy®, with a growing roster of more than 130 members, recognizes organizations worldwide that have achieved outstanding execution premiums. Visit www.thepalladiumgroup.com.