Details

Best Practices in Planning and Performance Management

Radically Rethinking Management for a Volatile World
3. Aufl.

von: David A. J. Axson
41,99 €
Verlag:	Wiley
Format:	EPUB
Veröffentl.:	13.08.2010
ISBN/EAN:	9780470644416
Sprache:	englisch
Anzahl Seiten:	356

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Beschreibungen

Titelbeschreibung

A practical framework for effectively managing performance in today's complex, competitive and risky global markets The Third Edition provides a complete framework for building best practice management processes for today's complex and uncertain world. Fully updated to reflect the events of the global economic crisis, this book provides further practical examples of companies that are successfully using the practices identified. <ul> <li>Updated for the implications of the global economic crisis on management practices</li> <li>Completely rewritten section on "What it Takes To Be An Effective Manager In An Uncertain World</li> <li>Added examples and mini case studies throughout the book from companies such as Qualcomm, IBM, Dominos, Target, Toshiba and Facebook</li> <li>Establishes new benchmarks for performance management process and practice</li> <li>Fully updated to include recent events, new learnings, technologies and emerging best practices</li> </ul> This book includes serious rethinking of the way companies plan and manage performance-from the role of accounting to the skills needed to be an effective manager-including new technologies, techniques and real time management processes.

Inhaltsverzeichnis

Preface to the First Edition xi Preface to the Third Edition xiii Acknowledgments xv Introduction 1 PART ONE WHY PERFORMANCE MANAGEMENT MATTERS 1 Traditional Management Processes Are Obsolete 5 Better-Informed Customers 6 Changing Market and Business Models 7 Structural Change in the Economics of Business 10 Globalization 13 Regulatory Revolution 13 Growth through Acquisition as the Normal Course of Business 15 Redefining Asset Values 16 Changing Delivery Channels 17 Compressed Cycle Times 17 Vast New Information Sources 18 Technology and Systems 19 Need for a Burning Platform 22 2 What Is Performance Management? 24 Defining Performance Management 24 Best Practices Defined 27 Types of Best Practice 31 Applying Best Practices 32 Best Practice Adoption Is Now a Necessity 34 3 Sizing the Opportunities 38 Beyond Benchmarking 38 Defining the Right Metrics 39 Conclusion 57 PART TWO BEST PRACTICES 4 Using Best Practices to Drive Change 61 A Brief History 61 From Battlefield to Boardroom 63 Components of a Best Practice Framework 65 Best Practice Recipe 65 Selecting the Right Best Practices 65 Golden Rule of Best Practice Application 68 Time to Sacrifice a Few Sacred Cows 69 No Silver Bullets 73 5 Strategic Planning: Ideas That Drive Results 74 Defining Strategy 76 Typical Process 77 Strategic Planning Best Practices 79 Communicate, Communicate, Communicate 92 Strategic Planning Is a Collaborative Process 93 CEO as Chief Strategist 93 Hard Side of Strategy 94 Acid Test 106 Lessons for a Volatile World 106 Best Practice Summary 106 6 Tactical and Financial Planning: Translating Strategy into Action 109 Defining Tactical and Financial Planning 109 Typical Process 110 Tactical Planning Best Practices 111 Financial Planning Best Practices 126 Lessons for a Volatile World 137 Best Practice Summary 138 7 Management Reporting: From Information to Insight 140 Typical Process 143 Management Reporting Best Practices 145 Putting It All Together 166 Lessons for a Volatile World 168 Best Practice Summary 168 8 Forecasting: Pass the Crystal Ball 171 Typical Process 172 Forecasting Best Practices 173 Understand Variability 192 Lessons for a Volatile World 193 Best Practice Summary 194 9 Risk Management: Place Your Bets 196 No Excuses 197 Global Interdependence 198 Developing an Effective Business Risk Management Capability 204 Risk Mitigation Techniques 217 Lessons for a Volatile World 219 10 Technology: Panacea or Pain? 221 Evolution of Information Technology in Business 222 Why the Time for Convergence Is Right 224 Applying Technology to Performance Management— Dawn of the Digital Manager 224 Best Practices for Leveraging Technology 229 Lessons for a Volatile World 240 Best Practice Summary 241 PART THREE MOVING FROM DATA TO DECISIONS 11 Implementing Best Practices 245 Getting Started 245 Moving to Implementation 247 Understand the Overall Strategic Goals and Objectives 248 Define the Critical Success Factors and Drivers 249 Define the Appropriate Performance Measures 251 Link Measures to the Overall Strategy 253 Define the Reporting Dimensions 253 Detail and Source the Performance Measures 253 Design the User Experience 255 Design and Build the Reporting Process 256 Integrate the Reporting and Planning Processes—Align Incentives 256 Develop the Required Skills 257 12 Implementation Secrets 259 Learn from the Mistakes of Others 259 Effect Change and Then Sustain It 261 It’s about Commitment and Execution 273 13 Managing in an Uncertain World 274 Leadership Qualities 275 Don’t Underestimate the Impact of Leaders 281 14 Looking to the Future 283 Fast, Flawless Execution Will Be the Distinguishing Characteristic of World-Class Companies 283 Global Accounting and Reporting Standards Will Become a Reality 285 The Focus Will Shift from Buying Technology to Using It 286 The Annual Budget Will Die—and Few Tears Will Be Shed 287 Finance Executives Will Require New Skills or New Jobs 288 Final Thoughts 288 About the Author 291 Index 293

Autorenportrait

DAVID A. J. AXSON is President of the Sonax Group, a business advisory firm. He is a former head of corporate planning at Bank of America and was a cofounder of The Hackett Group, where he was the architect of the firm's market-leading benchmarks bank. He is a sought-after speaker and writer on best practices in planning and performance management reporting, and is widely regarded as a thought leader in the industry.

Back cover copy

BEST PRACTICES IN PLANNING AND PERFORMANCE MANAGEMENT RADICALLY RETHINKING MANAGEMENT FOR A VOLATILE WORLD Third Edition The housing bubble, the failures of Bear Stearns and Lehman Brothers, and the near-collapse of the global financial system made it abundantly clear that the management processes on which organizations have relied for more than fifty years are totally broken. Updating indispensable best practices and examining the lessons learned from the Great Recession, Best Practices in Planning and Performance Management: Radically Rethinking Management for a Volatile World, Third Edition is your road map for driving fundamental change in your organization. David Axson's innovative text helps you significantly upgrade your management practices to better meet the needs of today's increasingly complex and global markets. By providing a framework for identifying best practices in performance management, Best Practices in Planning and Performance Management, Third Edition defines clear action plans for successfully developing, implementing, and profiting from the strategic applications of key performance metrics. Part One makes the case for a radical change in the way managers manage performance, explaining why effective performance management is needed in today's fast-paced world, and providing a series of diagnostic tools and measures to help you size up the improvement opportunity. Now including "Lessons for a Volatile World" in each chapter, Part Two summarizes key lessons managers can take away from the events of 2007–2009 and describes the principal best practices for each element of the performance management process—strategic planning, tactical and financial planning, management reporting, forecasting, and risk management. Finally, Part Three provides insights into the steps required to design a best practice–inspired process that is right for your organization, as well as the critical success factors for implementation. There is nothing like a good economic downturn to get companies to see that using performance management best practices is absolutely essential. Just in time, Best Practices in Planning and Performance Management, Third Edition is the proactive guide you need right now to help you consistently make and execute better decisions faster.