PRECorp Strategy Map
This strategy emphasizes our traditional values of Safety and Operational Excellence, but it also emphasizes community leadership. As you view the sections of this map, take the time to understand the importance of each part of the map and how it works together with other values and themes to create the overall PRECorp strategy.
PRECorp Interactive Strategy Map
The PRECorp team has created an interactive version of the Strategy Map, to further assist you in exploring aspects of the map as it relates to our areas of emphasis. There are automated features that explain each point on the map, and opportunities to go even deeper for information.
Strategy Map perspectives
There are four primary perspectives related to the strategy map. These are the Member Perspective, Financial Perspective, Process Perspective, and People & Team Perspective. Our Values and Principles guide these perspectives, while the PRECorp Mission and Vision provide the momentum to accomplish specific attributes of these perspectives. Click on any one of the perspective portals below to see more details about PRECorp’s goals related to these areas.
At PRECorp, we have tied dozens of specific initiatives to the strategy map. They are ranked in areas of importance and critical nature of the work. They are also narrowly focused in time and scope and are measured monthly for progress. Click on any one of the four perspectives above to learn more about the strategic initiatives being pursued to support each perspective.
Managing the Strategic Initiative process
The process to initially define, implement and manage our strategic initiatives involves several steps. When the strategy was first defined, the PRECorp team identified target areas that could be pursued to achieve the strategy. These efforts were further defined, evaluated and prioritized before becoming a list of specific strategic initiatives that support each of the four perspectives of the Strategy Map. Shown below are examples of some of the various tools that have been utilized to define, track and manage the implementation of these strategic initiatives:
- This document serves as a guideline to ranking to the strategic initiative efforts.
- This preliminary document defines and evaluates a potential effort before determining it if will be a strategic or departmental initiative to be pursued within the organization. This document will describe the issue to be addressed as well as analyze the gap between the current state and desired result of the effort. Initial expectations of timeframes and steps to achieve the desired result are also included within this document.
- This document contains a summary list of the various strategic initiatives that have been defined and approved to support specific components of the Strategy Map. This list also indicates the area of the organization responsible for implementing each strategic initiative.
- This document contains a more detailed description of each approved strategic initiative including the benefits of the effort, the objective to be accomplished and the specific milestones that will determine the target dates for implementing the initiative.
- This document is created from project management software and is utilized to track and monitor the progress of implementing the various strategic initiatives that support each of the four perspectives of the Strategy Map. The completion percentage of key milestones for each initiative are recorded and tracked which enables the organization to also monitor the overall completion percentage as well as by perspective or by priority category.
- The Balanced Scorecard application is a tool that gives a visual readout of how the PRECorp team is meeting specific initiatives and other efforts that benefit the cooperative and its membership through performance goals and cost-saving activities. The Balanced Scorecard shows the success of the PRECorp Team and puts the Member Perspective at the forefront. The PRECorp Team joins forces throughout the year to accomplish these initiatives and achieve these metrics in an effort that is stronger as a team. [The images shown in the link above are a sample snapshot of August 2013.]
For more information on PRECorp’s Strategy Map take a look at these prior articles from CEO Mike Easley