Managing strategy

The competitive environment and competitive advantage need to be monitored because -

They have a big impact on margins and financial returns

Unless they are monitored in plans there would look like there was a gap

They just need to be monitored for best practise

They generate more work for managers

The first phase of the planning process 'Current Position' is separated from the second - 'the Options', because -

The two together would be simply too time consuming

This is common convention

Most businesses have strategic problems

They are very different activities and doing both together would be difficult and distracting

Strategic Breakthroughs is needed as a separate phase because -

We need to check with shareholders around this point that everything is OK

By now people need a break from all the detail

At some point a tight prioritisation of possible options is needed

It gets people generally excited about the challenges

The following equation is the best - Performance =

Quality of Implementation x Timing

Quality of the Strategy x Quality of Implementation

Quality of the Strategy x Timing

Quality of the Strategy x Quality of Implementation x Timing

During the transition curve in change management -

Performance invariably gets better

Performance is maintained during this as senior management simple squeeze more out

Performance goes down but the always goes up - as it has to

Performance usually dips and improvements after that but that depends very much on how it is managed

The strategic option grid is used -

Only really for evaluating strategies at the external options phase

For external strategies and for implementation, and for specific strategic projects - before they get started

For external strategies and for implementation, and for specific strategic projects - both before and afterwards

At the external options phase - and also for different ways of implementing a specific option Management Challenge Proposal

Force Field analysis -

Is a key implementation/change management tool

Helps with uncertainty analysis

Is for understanding a project`s cash flows

Is very much to do with the Balanced Score Card

The difficulty over time curve -

Is a simple visual representation of changing difficulty during implementation

Is another clever way of doing Gap Analysis

Is a vector analysis of difficulty

Is a very interesting way of doing stakeholder analysis

Control and learning should have -

Have a good and equal balance between measurement/metrics, and the softer, learning aspects too

A very strong and predominant focus on metrics and measurement - indeed

Be driven primarily by the Balanced Score Card

An equal balance between the metrics of control and the softer processes of learning

The role an accountant should play in the process is one of -

Data collection generally

Operational performance reviews

Being actively involved in the planning modules, the plan-for-the-plan, and in drafting position papers

Getting involved in the numbers as and when needed

The competitive environment and competitive advantage need to be monitored because -

The first phase of the planning process 'Current Position' is separated from the second - 'the Options', because -

Strategic Breakthroughs is needed as a separate phase because -

The following equation is the best - Performance =

During the transition curve in change management -

The strategic option grid is used -

Force Field analysis -

The difficulty over time curve -

Control and learning should have -

The role an accountant should play in the process is one of -

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