1st Edition
Strategic Planning, Execution, and Measurement (SPEM) A Powerful Tool for CEOs
Although there are countless books available on strategic management, there are few, if any, that supply practical coverage of strategic planning, execution, and measurement—until now. Considering the entire value chain, this book covers the complete process of strategic planning, execution, and measurement.
Based on three decades of field-tested experience, Strategic Planning, Execution, and Measurement (SPEM): A Powerful Tool for CEOs provides both a consultant’s view and an entrepreneurial approach to strategic planning, execution, and measurement. Walking you through the process, it begins by defining world-class status, visions, missions, business models, and value chains. Next, it discusses the two most important prerequisites of strategic planning and includes a questionnaire to help you evaluate operations, systems, and structure in your organization.
The book provides a matrix of 25 parameters for assessing the status of your organization that can help to pinpoint the perceptional gaps between top executives and owners. It includes a strategy bank with 150 generic strategies in the five performance areas of business and identifies methods for monitoring strategy execution that provide early warning signals. It also introduces the Entrepreneurial Score Card, a tool for improving the impact of strategic planning and execution in your organization.
Detailing the structure and preparation process for the strategic plan, the book illustrates the financial impact of strategy execution and explains the various financial monitoring parameters used in the performance cards of individual employees. It concludes by describing an entrepreneurial approach to strategic planning and with a comprehensive case study that illustrates the entire strategy formulation process and its conversion into an annual budget.
This book is ideal for CEOs, CFOs, COOs, business owners, heads of business verticals, heads of corporate planning or strategy, functional heads, teachers, students, and practicing consultants in the area of strategic planning.
Strategic Planning: A Tool for Reaching World-Class Status
Defining World-Class Status
Gaining World-Class Status
Benefits of Strategic Planning
Fundamental Factors Defining Scope of Strategic Planning
Institutionalization of Vision and Mission
Example 1.1: Indian Automobile Company
Other Important Factors: Business Model, Core Competence, and Value Chain
Business Model and Return on Investment
Core Competence
Value Chain
Example 1.2: A Company and B Company
Example 1.3: ABC Company
Prerequisites of Strategic Planning: Inquiry and Status Evaluation
Prerequisite 1: Examining Performances, Perspectives, and Aspirations
Part A: General Inquiry
Part B: Business Development Inquiry
Part C: Strategic Cost Management Inquiry
Part D: Operations Management Inquiry
Part E: Employee Productivity Inquiry
Part F: Resource Management Inquiry
Prerequisite 2: Status Evaluation
Versatile Corporate Evaluation
Strategic Plan: Components, Preparation, Review, and Recommendation
Structure and Components
Duration
Format
Strategy for Performance Areas
Hurdle Management
Cost–Benefit Analysis (CBA)
Schedule for Execution
Crisis Management and Exit Route
Execution and Impact Routes
Execution Route
Impact Route
Preparation
Implementation
Review and Recommendations for Improvisation
Generic Strategies for Five Performance Areas
Monitoring Parameters for Strategy Execution and Impact Measurement
Need for Monitoring
Periodicity of Monitoring
Monitoring Process
Monitoring Parameters
Business Growth and Expansion Monitoring Tools
Strategic Cost Management Monitoring Tools
Operations, Logistics, and Technology Management Monitoring Tools
Employee Development and Satisfaction Monitoring Tools
Resource Management Monitoring Tools
Measurement of Strategy Execution and Financial Monitoring
Pyramid Movement of ROI for Strategy Execution
Financial Impacts of Strategy Execution
Financial Monitoring
Common Characteristics of Financial Parameter Tables
Level 1: Systemic Employees
Level 2: Knowledge Employees
Level 3: Decision-Making Employees
Level 4: Entrepreneurial Employees
Entrepreneurial Score Card: A Tool for Improving Impacts of Strategic Planning and Execution
Need for Entrepreneurial Score Card (ESC)
Ten Characteristics of Entrepreneurial Employees
Entrepreneurial Behavior Questionnaire
Classification of Employees Based on Competencies, Roles, and Empowerment Levels
ESCs for All Employees
ESCs for Four Employee Categories
Sales and Marketing Employees
Production or Operations Employees
Purchasing Employees
Finance and Accounts Employees
Human Resource (HR) Employees
Research and Development Employees
Entrepreneurial Rewards
Knowledge Management for Entrepreneurial Competencies
Objectives
Key Components
Methods of Identifying Knowledge Requirements
Knowledge Sources
Knowledge Classification and Storage
Knowledge Evaluation for Potential Use
Knowledge Sharing
Knowledge Application
Knowledge Sharing Mechanisms
Employee Feedback
Management Appraisal
Promotion of Knowledge Management Efforts
Comprehensive Case Study
Background and Recent Performance
SWOT Analysis
Strategic Plan: Strategies for Five Performance Areas
Measuring Financial Impact of Plan on Company Performance
Budgeted Performance and Result Indicators for the Year 2013–2014
Execution Route, Time and Resource Mapping, and Impact Route
Index
Biography
Girish P. Jakhotiya
