Strategy to the MAX: (To the MAX)

The quest to implement strategy has been, and remains, the holy grail of management. It's something that every senior executive wants to do and yet its achievement appears to be one fraught with difficulty and seemingly insurmountable obstacles. Not a year goes by without some survey reinforcing what is already known and countless articles and books affirming that the gap between strategy and execution can be bridged. There are tools and techniques, systems and procedures all designed to close the gap and yet the gap seems as wide as ever. And it's a gap that's costing organisations dearly. According to a survey published in the Harvard Business Review , only around 50 to 60% of the potential of an organisation's strategic plan is ever realised, with the underperformance being attributed to a breakdown in either planning or execution-factors that easily can be fixed and that are under the executive team's control. So why is it that the gap remains, and what can be done to put management back in control of strategy implementation? This book is about aligning organisational strategy with execution. It examines the scope of strategic and operational plans, the management processes and reward mechanisms required to support strategic decision-making, and the technology systems that play an ever-increasing role in communicating, planning, and monitoring strategy.

Table of Contents:
1: THE STRATEGY GAP 'Mind the Gap' Communication Gaps Management Methodology Gaps Management Process Gaps Execution Gaps Resource Gaps Incentive Scheme Gaps System Gaps Feedback Gaps The Changing Business Environment Planning Characteristics Role of Finance Strategy to the Max Tips Strategy to the Max Accelerators 2: UNDERSTANDING THE PRESENT, PREDICTING THE FUTURE Where Are You? Business Intelligence Context Is Everything BI Systems in Support of Strategy Where Are You Heading? Forecast Characteristics Building a Forecast Model Strategy to the Max Tips Strategy to the Max Accelerators 3: THE PEOPLE EFFECT Decision-Making: A Brief History The Rise of Irrational Behaviour The Basis of a Good Decision Moving Towards Good Decisions Strategy to the Max Tips Strategy to the Max Accelerators 4: EFFECTIVE STRATEGIC AND OPERATIONAL PLANS Strategic Plan Content Visualising Strategic and Operational Plans Creating a 'Cause-and-effect' Map Reviewing a Cause-and-Effect Map Linking Strategy to Budgets Divisional Versus Corporate Strategy Strategy to the Max Tips Strategy to the Max Accelerators 5: THE PLANNING PROCESS Planning Versus Budgeting The Planning Framework Types of Planning Planning Activities Performance Management Processes Sample Performance Management Activities Case Study Strategy to the Max Tips Strategy to the Max Accelerators 6: REPORTING STRATEGY A Brief History of Reporting Systems The Purpose of Reports Traditional Management Reports Report Types Traditional Financial Statements Dashboards / Scorecards 'Cause and effect' maps Waterfall charts Hybrid reports Alerts Assessing 'Cause and Effect' Relationships 'Best Practice' Reporting Senior Executives Operational Managers Departmental Managers Strategy to the Max Tips Strategy to the Max Accelerators 7: CLOSING THE LOOP Continuous Performance Management Process Performance Management Triggers Setting Trigger Levels Typical Trigger Points Implications of Closing the Loop Strategy to the Max Tips Strategy to the Max Accelerators 8: DESIGNING THE PERFORMANCE MANAGEMENT SYSTEM Technology - The Crucial Ingredient Spreadsheets and Performance Management ERP/General Ledgers and Performance Management Key Application Components Central Database Model Defining the Number of Dimensions Defining the Measures Dimension Defining the Version Dimension Defining the Initiative Dimension Model Design Data Acquisition Functional Requirements General Functionality Planning Functionality Budgeting Functionality Forecast Functionality Statutory Consolidation Functionality Workflow Reporting and Analysis Strategy to the Max Tips Strategy to the Max Accelerators 9: THE FUTURE OF TECHNOLOGY SOLUTIONS FOR PERFORMANCE MANAGEMENT Integration: The Final Frontier? Evolution of Performance Management Systems The ERP Story The Performance Management Story Vendor Outlook Oracle Infor CorPeuM The Performance Management Catalyst Strategy to the Max Tips Strategy to the Max Accelerators 10: NEXT STEPS Strategy to the Max Accelerators Influencing Change Step 1: Review Your Management Framework Produce a cause-and-effect map of your current strategic / operating plan Define Clear Roles and Responsibilities As It Relates to Strategy Implementation Review How People Are Compensated Step 2: Assess the Content You Need Review Budget Template for Operational Plan Initiatives Define the Reports You Need to Manage Performance Step 3: Innovate the Performance Management Process Define the Purpose of the Current Management Processes Develop a Plan to Bridge the Process Gaps Step 4: Exploit Technology Assess the Role of Your Current Systems Keep in Mind the 'Big Picture' Approach the Implementation of Performance Management as a Partnership Strategy to the Max Tips

About the Author :
Michael Coveney is a leading authority on the design and implementation of performance management systems. He regularly conducts management workshops on the role of technology in performance management, helping enterprises combine best management practices with technology to improve the efficiency and effectiveness of their performance management processes. He is a regular speaker at conferences around the world and has developed and conducted courses for the American Management Association. Over the course of 30 years in the financial analytic software industry, Michael has helped design and implement budgeting and reporting systems for major U.K.-based organisations.

Review :
If you want to know how what your organisation does influences what it achieves but don't have time to research the many weighty tomes on corporate performance management then read this book. On his first visit to us I immediately recognised, in Michael, someone who knows how to value operational activity in terms of contribution to strategic objectives. This easy to read book explains, very simply, how to put in place management systems that will help you concentrate organisational firepower on the right activities and initiatives and stop the ones that are not delivering. PETER SPENCE, FINANCIAL CONTROLLER, Chartered Institute of Management Accountants (C.I.M.A) Across all business sectors, boards and chief executives seek assurance that they and their teams are getting the job done. Yet their efforts so often appear thwarted, as the best of their plans routinely fail to translate into effective outcomes. Strategy to the Max provides key insights for leaders to help break this cycle of frustration. Written from practical experience, with remarkable clarity around the challenges faced in the real world, this book articulates issues you will immediately recognise. Crucially, it then provides a recognisable solution to take you forward. Michael Coveney has taken the time to identify the elusive threads linking strategy to implementation. I commend this book to any leader who aspires to the fulfilment of knowing they have got the job done. CHAN ABRAHAM, GROUP CHIEF EXECUTIVE, Luminus Winner of The Sunday Times 100 Best Companies 2010 for leadership