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Presentation at Sage Summit 2013 by Jennifer Warawa, VP of Sage North America and Tom Hood CEO of the MACPA and Business Learning Institute.

Presentation at Sage Summit 2013 by Jennifer Warawa, VP of Sage North America and Tom Hood CEO of the MACPA and Business Learning Institute.

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    Sage Summit - Fundamentals of High Performing Firms Sage Summit - Fundamentals of High Performing Firms Presentation Transcript

    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Fundamentals of High-Performing Firms How to Get (and Keep) a Competitive Edge Jennifer Warawa, vice president Partner Programs Tom Hood, CPA, CITP, CGMA #SageSummit
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center www.SlideShare.net/thoodcpa   @jenniferwarawa   @tomhood   @MACPA   #SageSummit   Download  today’s  slides  at  …  
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Our Goals for This Session: •  Challenge the way you think •  Challenge the status quo •  Identify two things you will change •  Engage you!
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center http://macpa.cnf.io Respond to a Poll Ask a Question Join the conversation
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center 1 Clearly defined vision 2 Deep understanding of where the future is headed 3 Measurable customer satisfaction strategy 4 Firm grasp on technology enablers 5 Set of internal key performance indicators 6 Effective communication strategy 7 Employee engagement and retention plan 8 Pulse on the market 9 Evolving learning plan 10 Good management of their brand Ten Foundational Pillars of High-Performing Firms
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Remembering Your Vision Why did you get in to accounting in the first place? What’s your “why”?
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Likely not this . . .
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Remembering Your Vision Why did you get in to accounting in the first place?
    • Best Practices: Serving Existing Clients
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #1 Existing Clients Their clients know what services their firm offers beyond what they currently utilize.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #2 Existing Clients They price for the value they deliver to their client, not by the hour.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #3 Existing Clients They don’t undercharge for their services.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #4 Existing Clients They interact with clients on a frequent and ongoing basis, not just when they are in the middle of an engagement.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #5 Existing Clients They “surprise and delight.”
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #6 Existing Clients They get the “brilliant basics” right.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #7 Existing Clients They know how happy (or unhappy) their existing clients are.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #8 Existing Clients They evaluate their clients regularly and fire the bad ones. •  Which clients are profitable? Easy to work with? •  Compliant? Passionate? Driven? •  Paying for value? Paying on time?
    • Best Practices: Attracting and Acquiring New Clients
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #9 New Clients They know the correct answer to “Are you accepting new clients?”
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #10 New Clients They know how to market themselves to attract new clients.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #11 New Clients They network.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #12 New Clients They have their pitch mastered.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #13 New Clients They have a strong online presence.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #14 New Clients They ask their happy clients for referrals.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #15 New Clients They have more than one tool in their toolbox. If all you have is a hammer, everything is a nail.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #16 New Clients They never stop learning. 68% of firms surveyed have been in business for over 20 years.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Best Practice #17 New Clients They know why they are better than their competition.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center How did you do?
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Business Best Practices Be Bad at Something You need to clearly define what you’re going to be bad at. www.uncommonservice.com
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Business Best Practices Leadership and Management An employee issue is never the employee’s fault. Good managers are responsible for teaching, coaching, managing, performance, and outcomes.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Business Best Practices Importance of Culture People do business with a culture.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Business Best Practices Priority Setting Study: Top ten managers of 125 companies around the world were asked individually to identify their companies’ five most critical objectives. Managers of the 40 most profitable companies agreed on 6 to 12 objectives. For the 40 lowest performing companies, the range was 26-43.
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Business Best Practices Pricing and Value As a Company, How Well Do You: •  Understand what your customers do (and do not) value—in product? In service? In support? •  Continuously update your understanding of value drivers by customer segment? •  Discuss and manage your total value proposition? •  Reflect and manage the relevant value drivers in the execution of your sales, marketing, product, supply chain, and pricing programs?
    • Moderator: Tom Hood •  Named as fourth Most Influential in Accounting by Accounting Today Magazine •  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 Tom Hood, CPA, CITP, CGMA CEO MACPA www.macpa.org and Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/
    • The New Normal - VUCA
    • Source:  Brian  Solis  author  of  The  End  of  Business  as  Usual   The Challenge
    • The Challenge Nothing happens without the commitment of our PEOPLE. ROI = ROP
    • The Challenge
    • The Question How do I increase my odds and make the right bets on which strategies to pursue and how to get them done in aVUCA world?
    • The Opportunity – Be the House •  15 X – ROI on Strategy as Process & Alignment (Jim Collins – Built to Last) •  8 X – Engagement &Trust (Gallup) •  10X – Return on Leadership (Information Masters) •  20 X – Return on Culture (Information Masters) •  3 X - Return on Positivity (Dr. Barbara Frederickson) “In order to buy-in, I have to weigh in.” – Pat Lencioni
    • ROI = ROP ROP = ROA x ROC x ROL
    • A tale of two firms •  One founded in 1921 •  One founded in 1977 •  One has 967 staff & $202 million in Revenue •  One is Top 20 and the other is no longer in existence www.bizlearning.net  
    • A tale of two more firms… www.bizlearning.net  
    • And two more… www.bizlearning.net  
    • Return on Investment Cri=cal  Areas   Investment   Return   People   2%   20%   Processes   2%   15%     OrganizaCon  Structure   2%   10%   Culture   1%   20%   Leadership   1%   10%   InformaCon   10%   15%   Technology   82%   10%   www.bizlearning.net   Source:  InformaCon  Masters  –  Secrets  of  the  Customer  Race  by  John  McKean  
    • Strategy as Process:  Our i2a Framework www.bizlearning.net  
    • Sight & Insight • Hindsight – How did we get here? • Insight - SCOT • Foresight – What do we know about the future?
    • The Paradox "The faster things change, the more important it is to look ahead."
    • The Research 2 1,000 10,000
    • What CPAs have said about future: 1)  Changing demographics 2)  Increased globalization 3)  The technological revolution 4)  Issues around information security 5)  Shift to consumer and employee power 6)  Changes in the way we communicate 7)  Work-life challenges and conflict 8)  Information Overload 9)  Complexity of rules and standards 10)  Economic uncertainty INSIGHT: Top Trends to Watch
    • Create - Start with why? www.bizlearning.net   People don’t buy what you do, they buy why you do it!
    • Why Reassess & Renew Where are we going Link & Leverage How are we going to get there Critical Turning Point The Bounce Copyright 2012 – Business Learning Institute High  Performance  OrganizaCons  –  Strategic  &  SystemaCc  
    • www.bizlearning.net  
    • Accountability is # 1 Issue www.bizlearning.net   Engagement   Alignment   Commitment   Accountability  
    • Strategy as Process &Training aligned to strategy creates employee engagement www.bizlearning.net   Gallup studies proved that corporations with higher engagement levels generated: •  27% higher profits •  50% higher sales •  50% higher customer loyalty •  38% above average productivity “Employee Engagement is an outcome-based concept. -The International School of Human Capital Management
    • Cascading Alignment throughout the organization creates Commitment Firm-­‐wide   Regional  &  PracCce  Levels   Office  Level   Individuals  Align  Their  Goals  to  the  Firm   Sample alignment worksheet from MACPA www.bizlearning.net  
    • www.bizlearning.net  
    • “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  
    • Source: Research from CPA Horizons 2025 Project & the Business Learning Institute Core Competencies Leadership   CommunicaCons   Strategic  Thinking   CollaboraCon  &  Synthesis   Technologically  Savvy  
    • Where do you start? • Build on Strengths • Seek High Leverage Opportunities • Involve your whole firm • Leverage Technology • Alignments & Misalignments www.bizlearning.net  
    • Tom  Hood,  CPA.CITP   CEO   Maryland  Associa=on  of  CPAs   Business  Learning  Ins=tute   (443)  632-­‐2301   E-­‐mail  tom@macpa.org   Web  hWp://www.macpa.org   Blog  hWp://www.cpasuccess.com   Blog  hWp://www.bizlearningblog.com       Follow  me  on:   ü   Twier:  hp://www.Twier.com/tomhood   ü   LinkedIn:  hp://www.linkedin.com/in/tomhood   ü   Facebook:  hp://www.facebook.com/thoodcpa   ü Google  +:   hps://plus.google.com/104372556333854919205   ü Slideshare:  hp://www.slideshare.net/thoodcpa   ü Youtube:  hp://www.youtube.com/thoodcpa   ü Second  Life  avatar  name:  Rocky  Maddaloni  
    • July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center July 21–26 | Washington, D.C. Gaylord National Resort and Convention Center Creating your Competitive Edge – Sage Vision and Strategy Workshop for Accounting Professionals P-231 Monday July 22, 2 - 5:30pm P-231 Tuesday July 23, 8:30 - Noon Room: Woodrow Wilson C