A framework provides guidelines, checklists, standards, processes, tools and building blocks, do & don't practices, to address diverse business perspectives and practicalities.
Balanced Scorecard-based engagement management framework helps the business management translate strategy into business objectives and monitor key results. So people can see what the outcome will look like throughout the transition, and then there should be a consideration for a balanced scorecard that measures the progress of the goals you want to achieve.
The business strategy framework of engagement is set out by the members of the board, stakeholders and investors that drive business strategy, value, harness corporate responsibility and manage risks: There are interrelated terms - vision, strategy, and tactics in strategy management. There are nested relationships under organizational hierarchy and it’s important to close the linkage between strategy and tactics by enhancing business strategy alignment, scenario planning, and program cycles. Strategy management is a cross-functional effort, interdisciplinary and multidimensional planning. A framework provides guidelines, checklists, standards, processes, tools and building blocks, do & don't practices, to address diverse business perspectives and practicalities, unify views of strategic goals, harness cross-functional communication and collaboration.
An established framework provides an “executive” view including impact analysis, reporting and alignment to strategy. It’s about defining abstract components and hence establishing the way to strategy management, discovering patterns, abstracting concerns, developing the best and next practices to scale, and executing capability-based strategy smoothly. It sets a certain standard for business initiative, prioritization, requirements management, risk management, resource management, governance controls (progress, finance, quality, and change), comprehensive dashboard reporting and value tracking. It allows the portfolio to be fine-tuned over time so that it delivers maximum strategic advantage to the organization
A framework of engagement makes decision-making more of a collective responsibility, creating an atmosphere of transparency: Due to "VUCA" characteristics of the digital normality, poor decision-making can cause business dysfunction, employee disengagement, or customer dissatisfaction. Given the complexity and uncertainty of the business world and given the fallacies of individual decision-making, more often than not, lack of knowledge and scarcity of insight lead to poor decision-making. In the strategic level, often decision-making is a cross-functional team work, ensuring that the right people are backing the big decisions and communicating them to their areas of the business.
Decision making is both art and science. Decision agility based on the hybrid of individual decision-making and collective decision-making. There is no “one size fits all” formula for all decision making, there are all sorts of decision-making styles depending on the decision maker's cognitive ability, knowledge, perception, or personality. Information allows you to build an actionable insight on how to move from one level to the other. It applies to the context and environment in which decisions are made. A framework of engagement makes decision-making more of a collective responsibility, creates an atmosphere of transparency, improves information quality and reliability, and ensures that people can leverage the right information to make right decisions timely.
Monitoring, identifying gap areas and taking corrective actions: To bridge “as is” and “to be” state of the business, it’s important for the management to identify both execution blind spots and capability gaps, as well as clarify the destination, as strategy guides and touches all aspects of the organization. Being willing and able to acquire various types of information begins with an understanding of purpose: What do you want to achieve? What initiative is being taken in identifying and determining what problems need to be improved based on the results of the evaluation? Begins with an acceptance you do not know enough to achieve your purpose; but knowing what questions to ask to close the variety of gaps. You recognize a gap in the knowledge you have and value in closing the gap seamlessly in order to realize positive outcomes. Any initiative, even though a very technical one should have a business objective associated with it.
Organizations have limited resources and talent, the real challenge is to understand your priorities, and know where and how you can and should improve, leverage available resources, focus on the most important things, handle sequence & consequence of initiatives smoothly. The steps, processes, tools, and products that organizations use to effect the transformation from strategy to deployment need to be scrutinized and tracked to ensure high performance results. To manage end-to-end performance, it requires the necessity to establish clear, understandable and easily calculable metrics. If at some intermediate stage, one measures something that is not congruent with the final outcome, then dysfunctional behavior arises, potentially diminishing the end-to-end performance.
The business strategy framework of engagement is set out by the members of the board, stakeholders and investors that drive business strategy, value, harness corporate responsibility and manage risks: There are interrelated terms - vision, strategy, and tactics in strategy management. There are nested relationships under organizational hierarchy and it’s important to close the linkage between strategy and tactics by enhancing business strategy alignment, scenario planning, and program cycles. Strategy management is a cross-functional effort, interdisciplinary and multidimensional planning. A framework provides guidelines, checklists, standards, processes, tools and building blocks, do & don't practices, to address diverse business perspectives and practicalities, unify views of strategic goals, harness cross-functional communication and collaboration.
An established framework provides an “executive” view including impact analysis, reporting and alignment to strategy. It’s about defining abstract components and hence establishing the way to strategy management, discovering patterns, abstracting concerns, developing the best and next practices to scale, and executing capability-based strategy smoothly. It sets a certain standard for business initiative, prioritization, requirements management, risk management, resource management, governance controls (progress, finance, quality, and change), comprehensive dashboard reporting and value tracking. It allows the portfolio to be fine-tuned over time so that it delivers maximum strategic advantage to the organization
A framework of engagement makes decision-making more of a collective responsibility, creating an atmosphere of transparency: Due to "VUCA" characteristics of the digital normality, poor decision-making can cause business dysfunction, employee disengagement, or customer dissatisfaction. Given the complexity and uncertainty of the business world and given the fallacies of individual decision-making, more often than not, lack of knowledge and scarcity of insight lead to poor decision-making. In the strategic level, often decision-making is a cross-functional team work, ensuring that the right people are backing the big decisions and communicating them to their areas of the business.
Decision making is both art and science. Decision agility based on the hybrid of individual decision-making and collective decision-making. There is no “one size fits all” formula for all decision making, there are all sorts of decision-making styles depending on the decision maker's cognitive ability, knowledge, perception, or personality. Information allows you to build an actionable insight on how to move from one level to the other. It applies to the context and environment in which decisions are made. A framework of engagement makes decision-making more of a collective responsibility, creates an atmosphere of transparency, improves information quality and reliability, and ensures that people can leverage the right information to make right decisions timely.
Organizations have limited resources and talent, the real challenge is to understand your priorities, and know where and how you can and should improve, leverage available resources, focus on the most important things, handle sequence & consequence of initiatives smoothly. The steps, processes, tools, and products that organizations use to effect the transformation from strategy to deployment need to be scrutinized and tracked to ensure high performance results. To manage end-to-end performance, it requires the necessity to establish clear, understandable and easily calculable metrics. If at some intermediate stage, one measures something that is not congruent with the final outcome, then dysfunctional behavior arises, potentially diminishing the end-to-end performance.
Celebrating success is important, but understanding what’s blocking overall business achievements, targets, and performance are paramount. A clearly defined framework provides a basic building block for setting right policies to engage employees, developing “institutionalization methodologies” to build business competencies, refining optimized processes to implement a strategy and manage a high-performance organization consistently.
0 comments:
Post a Comment