Adaptive Strategic Planning - turning insights into action for Global Manufacturers
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Adaptive Strategic Planning - turning insights into action for Global Manufacturers

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Do you update your strategic plan only once every 5–10 years? Is your traditional top-down strategic-planning approach flexible enough to keep up with the fast pace of innovation at your ...

Do you update your strategic plan only once every 5–10 years? Is your traditional top-down strategic-planning approach flexible enough to keep up with the fast pace of innovation at your organization? What is the role of the CPA in finance and accounting in change management? Strategy? Sometimes CFOs and controllers get a bad rap when it comes to strategic planning.

This experiential, case-based session introduces you to the Insights to Action (i2a) thinking system. i2a gives you a systematic approach to strategic planning designed to engage your people in creating a shared strategy that inspires action, and creates alignment and commitment. You will hear about several case studies about a CPA leading change and implementing business strategy in a global manufacturer. Hear how she engaged plant employees and corporate to work together to achieve corporate strategies. Attend this session, and you will leave with an action plan!

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    Adaptive Strategic Planning - turning insights into action for Global Manufacturers Adaptive Strategic Planning - turning insights into action for Global Manufacturers Presentation Transcript

    • Adaptive Strategic Planning: Keeping Your Strategy Ahead of Change Insights to Action Workshop
    • Tom Hood, CPA, CITP, CGMA If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today ! CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org ! ! ! ! Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/ CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations http://www.linkedin.com/in/tomhood/
    • Ebonie Jackson, CPA,CITP, CGMA §  §  §  §  §  Strategic Management Consultant §  Strategic Management Consultant at Health Care Regulatory Consultants, LLC Financial Leader for Owens Corning Global Financial Standards Implementation Leader Plant Controller Member of AICPA Council, IMTA Executive Board, Manufacturing and E.D.G.E Conference Planning Committees Member of to be in the Inaugural Class of the AICPA Leadership Academy Health Care Regulatory Consultants, LLC http://www.linkedin.com/pub/ebonie-jackson/3/37a/63b
    • Join the conversation http://macpa.cnf.io Respond to a Poll Ask a Question
    • Download today’s slides at … www.SlideShare.net/thoodcpa
    • The Challenge
    • Is Change Changing? 4X 7X 1670 1890
    • Historical Context – The Perfect Storm •  Web 2.0 •  Globalization •  Generations Source: Don Tapscott - Wikinomics
    • The New Normal - VUCA
    • So what does that mean for strategic planning?
    • What would Rita say? ! ! ! ! Competitors and customers have become too unpredictable, and industries too amorphous. The forces at work here are familiar: the digital revolution, a “flat” world, fewer barriers to entry, globalization. To stay ahead, they need to constantly start new strategic initiatives, building and exploiting many transient competitive advantages at once. Though individually temporary, these advantages, as a portfolio, can keep companies in the lead over the long Rita McGrath, Columbia Business School run. Author – End of Competitive Advantage Innovate often, decide quickly, succeed or fail, repeat
    • The end of competitive advantage?
    • The Innovator’s Paradox ! Ideas aren’t failing because of the insights or product features. Ideas are failing because we are trying to force them to fit the past. ! The more successful you are the stronger the pull of the core (and past) - Geoffrey Moore ! Don’t pave cowpaths... - Dr. Michael Hammer
    • Agenda ! What is Insight to Action (I2A)? ! How Do You Use I2A? (Real World Examples) ! Putting it All Together (Hands on Business Case)
    • Insight to Action
    • i2a: Insights to Action - Sight - Insight Establish Shared Meaning & Context as it relates to your Past, Present & Future
    • What does the world Really want from us, next? ! In other words, what opportunities unfold if you put yourself in service to and take your direction from the people in the world you most want to succeed and who most want you to succeed? ! What do the underlying trends suggest could be possible future states? ! Where is there a small but growing trend? ! What can you learn from analogies and metaphors (i.e. Post Office, Kodak)? Source: Geoffrey Moore – Escape Velocity
    • i2a: Insights to Action - Sight - Insight Establish Shared Meaning & Context – So what does this mean to us? Hindsight – Foresight - Insight
    • i2a: Insights to Action – Create The best way to predict the future is to create it. – Peter Drucker
    • i2a: Insights to Action – Action Planning Get it off the Paper and into the Hearts, Smarts and Ingenuity of your Organization “To buy-in, they have to have weighed-in.” -Patrick Lencioni
    • Real World Example (Manufacturing Plant)Sight Background ! Small Manufacturing Plant ! New Line ! Projected Loss in Manufacturing Productivity and Increase in Cost/ Unit
    • Real World Example (Manufacturing Plant)Sight How is the world Changing? ! Projected losses in manufacturing productivity and significant increase in material cost/ unit ! Challenge- To build a robust operations plan to properly inform upper management about how we plan to overcome the full cost impact of the new line, while keeping plant employees motivated about facing our new challenges.
    • Real World Example (Manufacturing Plant)Sight How is the world Changing? ! Corporate Challenge Video from CEO ! History Map
    • Real World Example (Manufacturing Plant)Insight What does this mean to us? ! Find High Leverage Opportunities by Reviewing: •  Corporate Challenge Video from CEO •  History Map •  SCOTs -  Strengths -  Challenges -  Opportunities -  Threats
    • Real World Example (Manufacturing Plant)Create What possibilities do we see? ! Set priorities •  Critical •  Essential •  Incidental ! Come up with a plan to execute
    • Real World Example (Manufacturing Plant)Communicate What direction should we give? ! Communicate Plan
    • Real World Example (Manufacturing Plant)Inspire Who do we need to enlist to help us? (Find creative ways to enlist help)
    • Real World Example (Corporate Process Improvement)- Sight Background ! Large Corporate Finance, Sourcing, &Accounting Departments and Business Unit Operations ! Improve inflation reporting and forecasting process
    • Real World Example (Corporate Process Improvement)- Sight How is the world Changing? ! Process mapping of global inflation reporting and forecasting (start at plant and rolling-up to corporate ! Challenge- To improve inflation reporting and forecasting process by making it more timely, actionable, and accurate
    • Real World Example (Corporate Process Improvement)- Sight and Insight How is the world Changing? What does this mean to us? ! Kick-off Meeting ! Process Mapping ! SCOTs
    • Real World Example (Corporate Process Improvement)- Create What possibilities do we see? ! Set priorities •  Critical •  Essential •  Incidental ! Come up with a plan to execute
    • Real World Example (Corporate Process Improvement)- Communicate and Inspire What direction should we give? Who do we need to enlist to help us? (Find creative ways to enlist help)
    • Wanted: Ambidextrous Innovators Definition: (The Free Dictionary) Unusually skillful; adroit, facile The word "ambidextrous" is derived from the Latin roots ambi-, meaning “both” and dexter, meaning “right” or “favorable”. Innovation is, “the application of new solutions that meet new requirements, inarticulate needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society.” - Wikipedia
    • Wanted: Ambidextrous Innovators §  §  §  §  §  §  Collaborative Communication Creative Strategic Thinking Navigators of Change Grounded in Business
    • “In  a  period  of  rapid  change  and  increasing   complexity,  the  winners  are  going  to  be  the   people  who  can  LEARN  faster  than  the  rate  of   CHANGE  and  faster  than  their  COMPETITION.”   -­‐  Tom  Hood,  CPA.CITP.CGMA   10/17/13   T  
    • Putting it All Together (Business Case) ! ! ! ! ! Sight – What do we see? Insight- What does this mean to us? Create- What possibilities do we see? Communicate- What direction should we give? Inspire-Who do we need to enlist to help us?
    • The Research 2 1,000 10,000
    • http://www.slideshare.net/thoodcpa/
    • CPAs  are  trusted  advisors  who,  combining   insight  with  integrity  deliver  value  by:   Communica5ng  the  total  picture  with  clarity  and  objecLvity   Transla5ng  complex  informaLon  into  criLcal  knowledge   An5cipa5ng  and  creaLng  opportuniLes     Turning  insights  into  ac5on  to  transform  vision  into  reality     T  
    • Questions 42
    • The Four Most Important Words in Business today? What do you think? - Tom Peters www.blionline.org
    • Your Competitive Advantage “It is hard to plan for the long-term future when you don’t know what is going to happen five minutes from now. Today, a competitive edge based solely on material advantage is thin and temporary; the edge quickly becomes the margin. The ability to define the edge, and the ultimate competitive advantage, is found in the smarts, heart and ingenuity of your people. That’s your powerhouse. Tap that, train it, focus it and mobilize it; now you’ve engaged a network and inspired a sustainable shift. www.blionline.org
    • Engagement – Alignment - Commitment www.blionline.org
    • The CPA as Artist An artist is someone who uses bravery, insight, creativity, and boldness to challenge the status quo – Seth Godin - Linchpin
    • A leader s job is to define context and provide hope and inspiration..."
    • Follow  me  on:   ü   TwiOer:  hOp://www.TwiOer.com/tomhood   Tom  Hood,  CPA.CITP   CEO   ü   LinkedIn:  hOp://www.linkedin.com/in/tomhood   Maryland  Associa5on  of  CPAs   Business  Learning  Ins5tute   ü   Facebook:  hOp://www.facebook.com/thoodcpa   (443)  632-­‐2301   ü Slideshare:  hOp://www.slideshare.net/thoodcpa   E-­‐mail  tom@macpa.org   Web  hQp://www.macpa.org   ü Youtube:  hOp://www.youtube.com/thoodcpa   Blog  hQp://www.cpasuccess.com   Blog  hQp://www.bizlearningblog.com      
    • Contact Information Tom  Hood,  CPA,CITP,CGMA   Ebonie  Jackson,  CPA,  CITP,  CGMA   CEO   Strategic  Management  Consultant   Maryland  AssociaLon  of  CPAs   Health  Care  Regulatory   Business  Learning  InsLtute   Consultants,  LLC   (443)  632-­‐2301     E-­‐mail  tom@macpa.org     Web  hOp://www.macpa.org   Blog  hOp://www.cpasuccess.com   E-­‐mail  ebonie.jackson@cpa.com     Blog   hOp://www.bizlearningblog.com   49