The document outlines a framework for corporate risk governance reform that involves building employee engagement, developing uniform risk procedures, implementing pilots of the framework, and establishing roles to assure effectiveness, facilitate performance, and verify reliability in order to provide management clear oversight perspectives and increase shareholder value through improved reputation and market confidence.
Anne Frisch, CFO at Publicis Worldwide - Talent Management in FinanceGlobal Business Events
A talent management system must be integrated into a company's overall business strategy and implemented throughout daily operations. It cannot be solely the responsibility of the human resources department, but must involve line managers developing the skills of subordinates. Departments should share information to help employees understand organizational objectives. Retaining and developing talent is important because labor costs are high, performance differences between talented and lesser employees are significant, and employees are a key source of organizational strengths. Implementing talent management requires building a competency model, raising the financial culture of non-financial managers, and prioritizing talent retention as it reduces costs.
The document provides an overview of a strategic management course. It includes sections on the instructor, assignments, course topics like industry structure and firm resources, and the grading breakdown. Team assignments include case analyses and a final project. The course aims to help students analyze strategies and make things happen in their careers.
This document discusses the importance of strategic due diligence in mergers and acquisitions. Strategic due diligence goes beyond financial and legal due diligence to test the strategic rationale for a deal and determine if a company has the capabilities to realize targeted value from the acquisition. It involves asking two key questions: is the deal commercially attractive, and is the acquiring company capable of realizing the targeted value? The summary identifies four categories of M&A deals and outlines how the focus of strategic due diligence should vary depending on the type of deal.
The company Focus Management was founded in 1996 and specializes in management consulting. It supports both international and local firms facing competitive and organizational challenges. It prides itself on its methodological rigor from its academic roots and dynamic consultants. The company provides concise consulting in areas such as marketing, sales, human resources, and expert opinion valuation. It has a team of experienced professionals and collaborates closely with an international network of academics and consultants.
This document discusses best practices in investor relations that fund managers can adopt to gain an advantage in the current competitive market. It recommends that fund managers prioritize client relationships by creating open communication to build confidence and motivate current investors. Managers should ensure clients understand the investment strategy and can relay it to prospective investors. Adopting proven investor relations practices includes educating investors on strategies and industry trends, conducting surveys to understand client needs, and scheduling regular one-on-one meetings with institutional investors. Developing trust and partnership with clients through transparency and responsiveness helps increase client stickiness during periods of varying performance.
Company profile trustpartners april 2013TrustPartners
TrustPartners is an Italian management consulting firm with expertise in highly regulated industries. It provides business planning, performance management, and organizational consulting. The firm has deep experience in pharmaceuticals, energy, gaming/gambling, tobacco, and public administration. It offers strategic support, process optimization, and change management assistance to improve clients' performance. TrustPartners works with companies across Italy from its headquarters in Rome and branch in Milan.
Framework for value (private equity portfolio company oversight)Scott Thomas
The document discusses key elements for effective business investment strategy and value creation at portfolio companies. It identifies four core pillars: control environment, governance, risk management, and operations. Each pillar is important for optimal operations and risk management. Control environment focuses on integrity, leadership, and human resources. Governance involves the board, planning, performance indicators, and financial/regulatory compliance. Risk management and operations are also discussed as essential pillars.
Forge For Change - Site Integration Without a TSAMark Norton
Case study for the acqusition and integration of a manufacturing site without a Transitional Service Agreement (TSA), requiring implementation of key systems; SAP, Payroll, IT Infrastructure, within a compressed time window.
Anne Frisch, CFO at Publicis Worldwide - Talent Management in FinanceGlobal Business Events
A talent management system must be integrated into a company's overall business strategy and implemented throughout daily operations. It cannot be solely the responsibility of the human resources department, but must involve line managers developing the skills of subordinates. Departments should share information to help employees understand organizational objectives. Retaining and developing talent is important because labor costs are high, performance differences between talented and lesser employees are significant, and employees are a key source of organizational strengths. Implementing talent management requires building a competency model, raising the financial culture of non-financial managers, and prioritizing talent retention as it reduces costs.
The document provides an overview of a strategic management course. It includes sections on the instructor, assignments, course topics like industry structure and firm resources, and the grading breakdown. Team assignments include case analyses and a final project. The course aims to help students analyze strategies and make things happen in their careers.
This document discusses the importance of strategic due diligence in mergers and acquisitions. Strategic due diligence goes beyond financial and legal due diligence to test the strategic rationale for a deal and determine if a company has the capabilities to realize targeted value from the acquisition. It involves asking two key questions: is the deal commercially attractive, and is the acquiring company capable of realizing the targeted value? The summary identifies four categories of M&A deals and outlines how the focus of strategic due diligence should vary depending on the type of deal.
The company Focus Management was founded in 1996 and specializes in management consulting. It supports both international and local firms facing competitive and organizational challenges. It prides itself on its methodological rigor from its academic roots and dynamic consultants. The company provides concise consulting in areas such as marketing, sales, human resources, and expert opinion valuation. It has a team of experienced professionals and collaborates closely with an international network of academics and consultants.
This document discusses best practices in investor relations that fund managers can adopt to gain an advantage in the current competitive market. It recommends that fund managers prioritize client relationships by creating open communication to build confidence and motivate current investors. Managers should ensure clients understand the investment strategy and can relay it to prospective investors. Adopting proven investor relations practices includes educating investors on strategies and industry trends, conducting surveys to understand client needs, and scheduling regular one-on-one meetings with institutional investors. Developing trust and partnership with clients through transparency and responsiveness helps increase client stickiness during periods of varying performance.
Company profile trustpartners april 2013TrustPartners
TrustPartners is an Italian management consulting firm with expertise in highly regulated industries. It provides business planning, performance management, and organizational consulting. The firm has deep experience in pharmaceuticals, energy, gaming/gambling, tobacco, and public administration. It offers strategic support, process optimization, and change management assistance to improve clients' performance. TrustPartners works with companies across Italy from its headquarters in Rome and branch in Milan.
Framework for value (private equity portfolio company oversight)Scott Thomas
The document discusses key elements for effective business investment strategy and value creation at portfolio companies. It identifies four core pillars: control environment, governance, risk management, and operations. Each pillar is important for optimal operations and risk management. Control environment focuses on integrity, leadership, and human resources. Governance involves the board, planning, performance indicators, and financial/regulatory compliance. Risk management and operations are also discussed as essential pillars.
Forge For Change - Site Integration Without a TSAMark Norton
Case study for the acqusition and integration of a manufacturing site without a Transitional Service Agreement (TSA), requiring implementation of key systems; SAP, Payroll, IT Infrastructure, within a compressed time window.
Compliance Professional Yesterday, Today And TomorrowAnn Oglanian
- The document summarizes a webinar presented by Ann Oglanian on the past, present and future of the compliance profession.
- It outlines how the role of compliance has evolved from an afterthought to a strategic, executive-level function with increasing responsibilities, skills requirements and compensation.
- It debates whether compliance should be considered a true profession on par with law and accounting, noting gaps that exist as well as pros and cons of such a designation.
The document discusses strategies for strategy execution. It notes that most organizations struggle with strategy execution even if they develop sound strategies. The Balanced Scorecard is presented as a tool that can help organizations become "strategy-focused" by linking strategic objectives, metrics, targets and initiatives. It reflects the cause-and-effect relationships of achieving strategic goals. Organizations that implement the Balanced Scorecard approach are achieving breakthrough results by mobilizing employees around their central strategic agenda.
Advanced Development General Presentationguest83b804
Advanced Development provides business consultancy in the areas of Turnaround Management, Project Finance and Portfolio Management. Each of these pillars contains dozens of activities that are interconnected, strengthening the value of our experience in our clients’ benefit.
Achieving Operational Visibility and Financial Gain at Del MontePerficient, Inc.
Perficient joined Del Monte Corporation for this webcast about how you can achieve greater operational visibility and financial gains by extending IBM Cognos TM1 beyond financial planning and analysis, to operational planning. Using recent examples from Del Monte, we show you how you can improve planning decisions, make more effective use of planner time and realize significant financial gains.
The document provides an overview of effective non-profit board training. It covers the roles and responsibilities of board members and officers, governance practices like bylaws and strategic planning, oversight of grants and finances, and developing organizational policies. The training agenda includes topics such as board structure, compliance, decision-making processes, and best practices to ensure boards function well.
Accumyn Consulting provides restructuring and financial advisory services to businesses. They offer experienced professionals with executive backgrounds who devise creative solutions to clients' financial problems. Their goal is to provide tangible results and lasting value through their services, which include corporate restructuring, turnaround initiatives, litigation support, and mergers and acquisitions advice. They take a fact-based approach and focus on quickly executing plans and solutions.
The document discusses several key challenges in international performance management:
1) There are challenges in measuring performance across different subsidiaries and countries due to variations in environments, criteria validity, data uniformity, and cultural adjustments.
2) When appraising expatriates, it is important to consider their organizational role expectations, as well as the expectations of the parent company and host subsidiary, which can conflict.
3) Effective performance appraisal of foreign employees should consider their role beyond just tasks, and look at leadership, interpersonal skills, cultural adaptation, and how they meet the needs of multiple organizations.
Founders Advisory provides quarterly reports and advisory services to financial institutions. This issue of Founders Quarterly analyzes trends in the U.S. institutional and private wealth management markets. It examines challenges to profitability and growth in the institutional distribution channel and surveys industry executives on where they plan to invest resources. The report also discusses the migration of financial advisors away from individual stock selection toward outsourced portfolio management and defines the growing managed accounts discretionary framework.
MITIGATING OPERATIONAL RISK: RISK TRANSFER SOLUTIONSMichel Rochette
The document discusses various approaches to mitigating operational risk exposure beyond Basel II compliance. It outlines opportunities to integrate insurance, alternative risk transfer solutions like captives, and capital market products to optimize an organization's overall operational risk management in line with its risk appetite and tolerance. The presentation also examines US regulatory expectations and qualifying criteria for recognizing different risk mitigation techniques for capital relief purposes.
This document provides an overview of strategic planning in uncertain economic times. It discusses how the traditional strategic planning framework of 3-5 year horizons, annual reviews, and comprehensive printed plans is outdated. The new normal requires agility, short-term objectives, frequent updates, scenario planning, and risk management. It provides tips for businesses to prepare, including clarifying their vision, understanding their numbers and industry, identifying economic drivers, transferring risk, and using rolling forecasts. Strategic planning now emphasizes adapting to changes and minimizing vulnerabilities.
The document discusses enterprise risk management solutions and a diagnostic approach to improve ERM processes and core systems. It outlines the context of increasing regulatory focus on risk management practices. The diagnostic involves collecting data, analyzing operations, modeling risks, and testing recommendations to implement improved ERM reporting, controls, and a risk-based culture.
This document discusses rightsizing as a strategic challenge for HR. It outlines the objectives of providing balanced practices for workforce rightsizing that limit business risks and optimize strengths. Various options for rightsizing are presented, including internal structure revamp, headcount rationalization, and focusing on core competencies. The importance of respectful practices, strong leadership, communication, and managing costs and risks is emphasized to help balance rightsizing efforts. A case study example from the automotive industry in KSA is also provided.
The Preston Willis Group (PWG) is a professional management consulting firm that provides strategic advisory, operational expertise, and interim management services to enable clients to enter new markets successfully, scale their businesses, and achieve desired outcomes. PWG has partners and principals located across the US and Canada and maintains a global network of industry professionals. PWG typically works with clients using a two-phase approach, first developing a country roll-out plan and initial operations, then helping to fully launch and scale the business.
1) Many organizations want to improve their success rate at converting large sales opportunities into orders. However, on average sales representatives only succeed at 1 in 3 large opportunities.
2) High performing sales reps have fewer opportunities but a higher success rate than average reps. They focus properly on prioritizing the right opportunities, which is a key factor in their success.
3) Proper opportunity management leads to increased wins, measurable results, more systematic planning, improved business results, and higher revenue. It involves establishing clear opportunity priorities, understanding customers' needs, and presenting a convincing value proposition.
Modern portfolio theory incorporates realistic factors useful for tailor-made solutions but could be improved by understanding client preferences earlier. Regional asset managers may offer innovative solutions from less covered areas. Improving the manager selection process requires understanding that top performers do not outperform benchmarks consistently as they take calculated risks before others. Investment consultants should rethink business models to reduce reliance on asset managers and better serve client needs.
Almost all crisis go through three phases, while an organization deals with them by analyzing, responding, helping in the recovery, and moving beyond by helping the business thrive in new normal conditions. Every business’s long-term goal while or after dealing with a crisis is to maintain the continuity of its operations. Therefore, resilience is the key factor towards building a strategic way of monitoring the progress of an organizations’ crisis management framework. A command center is a central hub for a business in the path ahead to either return to pre-crisis work conditions or adopt a more innovative organizational structure.
This presentations tells the story of the Risk-led transformation that HML has undertaken over the last 18 months. It outlines some of the key challenges, how they were overcome and the benefits delivered.
This document discusses opportunities to reform risk governance and corporate governance in four key areas:
1. Improving management's control and supervision of business lines.
2. Giving boards better perspective to oversee strategy, management, and risks.
3. Enhancing regulators' oversight of risk management practices.
4. Creating efficient processes to leverage finance, risk, compliance, and audit functions.
The document recommends augmenting organizational structures to promote senior management awareness of risks, establish clear communication lines, and provide oversight while respecting independent risk functions. This includes a Senior Risk Committee and aggregating business segment reporting to give boards a comprehensive view of risks.
Eziconnect provides moving and utility services in Australia with over 20 years of experience. They have 50 staff and can service customers nationwide. Eziconnect processes over 15,000 leads per month and has assisted over 1 million customers with moves. They offer integrated technology platforms and dual branded or white labeled options to partners.
Compliance Professional Yesterday, Today And TomorrowAnn Oglanian
- The document summarizes a webinar presented by Ann Oglanian on the past, present and future of the compliance profession.
- It outlines how the role of compliance has evolved from an afterthought to a strategic, executive-level function with increasing responsibilities, skills requirements and compensation.
- It debates whether compliance should be considered a true profession on par with law and accounting, noting gaps that exist as well as pros and cons of such a designation.
The document discusses strategies for strategy execution. It notes that most organizations struggle with strategy execution even if they develop sound strategies. The Balanced Scorecard is presented as a tool that can help organizations become "strategy-focused" by linking strategic objectives, metrics, targets and initiatives. It reflects the cause-and-effect relationships of achieving strategic goals. Organizations that implement the Balanced Scorecard approach are achieving breakthrough results by mobilizing employees around their central strategic agenda.
Advanced Development General Presentationguest83b804
Advanced Development provides business consultancy in the areas of Turnaround Management, Project Finance and Portfolio Management. Each of these pillars contains dozens of activities that are interconnected, strengthening the value of our experience in our clients’ benefit.
Achieving Operational Visibility and Financial Gain at Del MontePerficient, Inc.
Perficient joined Del Monte Corporation for this webcast about how you can achieve greater operational visibility and financial gains by extending IBM Cognos TM1 beyond financial planning and analysis, to operational planning. Using recent examples from Del Monte, we show you how you can improve planning decisions, make more effective use of planner time and realize significant financial gains.
The document provides an overview of effective non-profit board training. It covers the roles and responsibilities of board members and officers, governance practices like bylaws and strategic planning, oversight of grants and finances, and developing organizational policies. The training agenda includes topics such as board structure, compliance, decision-making processes, and best practices to ensure boards function well.
Accumyn Consulting provides restructuring and financial advisory services to businesses. They offer experienced professionals with executive backgrounds who devise creative solutions to clients' financial problems. Their goal is to provide tangible results and lasting value through their services, which include corporate restructuring, turnaround initiatives, litigation support, and mergers and acquisitions advice. They take a fact-based approach and focus on quickly executing plans and solutions.
The document discusses several key challenges in international performance management:
1) There are challenges in measuring performance across different subsidiaries and countries due to variations in environments, criteria validity, data uniformity, and cultural adjustments.
2) When appraising expatriates, it is important to consider their organizational role expectations, as well as the expectations of the parent company and host subsidiary, which can conflict.
3) Effective performance appraisal of foreign employees should consider their role beyond just tasks, and look at leadership, interpersonal skills, cultural adaptation, and how they meet the needs of multiple organizations.
Founders Advisory provides quarterly reports and advisory services to financial institutions. This issue of Founders Quarterly analyzes trends in the U.S. institutional and private wealth management markets. It examines challenges to profitability and growth in the institutional distribution channel and surveys industry executives on where they plan to invest resources. The report also discusses the migration of financial advisors away from individual stock selection toward outsourced portfolio management and defines the growing managed accounts discretionary framework.
MITIGATING OPERATIONAL RISK: RISK TRANSFER SOLUTIONSMichel Rochette
The document discusses various approaches to mitigating operational risk exposure beyond Basel II compliance. It outlines opportunities to integrate insurance, alternative risk transfer solutions like captives, and capital market products to optimize an organization's overall operational risk management in line with its risk appetite and tolerance. The presentation also examines US regulatory expectations and qualifying criteria for recognizing different risk mitigation techniques for capital relief purposes.
This document provides an overview of strategic planning in uncertain economic times. It discusses how the traditional strategic planning framework of 3-5 year horizons, annual reviews, and comprehensive printed plans is outdated. The new normal requires agility, short-term objectives, frequent updates, scenario planning, and risk management. It provides tips for businesses to prepare, including clarifying their vision, understanding their numbers and industry, identifying economic drivers, transferring risk, and using rolling forecasts. Strategic planning now emphasizes adapting to changes and minimizing vulnerabilities.
The document discusses enterprise risk management solutions and a diagnostic approach to improve ERM processes and core systems. It outlines the context of increasing regulatory focus on risk management practices. The diagnostic involves collecting data, analyzing operations, modeling risks, and testing recommendations to implement improved ERM reporting, controls, and a risk-based culture.
This document discusses rightsizing as a strategic challenge for HR. It outlines the objectives of providing balanced practices for workforce rightsizing that limit business risks and optimize strengths. Various options for rightsizing are presented, including internal structure revamp, headcount rationalization, and focusing on core competencies. The importance of respectful practices, strong leadership, communication, and managing costs and risks is emphasized to help balance rightsizing efforts. A case study example from the automotive industry in KSA is also provided.
The Preston Willis Group (PWG) is a professional management consulting firm that provides strategic advisory, operational expertise, and interim management services to enable clients to enter new markets successfully, scale their businesses, and achieve desired outcomes. PWG has partners and principals located across the US and Canada and maintains a global network of industry professionals. PWG typically works with clients using a two-phase approach, first developing a country roll-out plan and initial operations, then helping to fully launch and scale the business.
1) Many organizations want to improve their success rate at converting large sales opportunities into orders. However, on average sales representatives only succeed at 1 in 3 large opportunities.
2) High performing sales reps have fewer opportunities but a higher success rate than average reps. They focus properly on prioritizing the right opportunities, which is a key factor in their success.
3) Proper opportunity management leads to increased wins, measurable results, more systematic planning, improved business results, and higher revenue. It involves establishing clear opportunity priorities, understanding customers' needs, and presenting a convincing value proposition.
Modern portfolio theory incorporates realistic factors useful for tailor-made solutions but could be improved by understanding client preferences earlier. Regional asset managers may offer innovative solutions from less covered areas. Improving the manager selection process requires understanding that top performers do not outperform benchmarks consistently as they take calculated risks before others. Investment consultants should rethink business models to reduce reliance on asset managers and better serve client needs.
Almost all crisis go through three phases, while an organization deals with them by analyzing, responding, helping in the recovery, and moving beyond by helping the business thrive in new normal conditions. Every business’s long-term goal while or after dealing with a crisis is to maintain the continuity of its operations. Therefore, resilience is the key factor towards building a strategic way of monitoring the progress of an organizations’ crisis management framework. A command center is a central hub for a business in the path ahead to either return to pre-crisis work conditions or adopt a more innovative organizational structure.
This presentations tells the story of the Risk-led transformation that HML has undertaken over the last 18 months. It outlines some of the key challenges, how they were overcome and the benefits delivered.
This document discusses opportunities to reform risk governance and corporate governance in four key areas:
1. Improving management's control and supervision of business lines.
2. Giving boards better perspective to oversee strategy, management, and risks.
3. Enhancing regulators' oversight of risk management practices.
4. Creating efficient processes to leverage finance, risk, compliance, and audit functions.
The document recommends augmenting organizational structures to promote senior management awareness of risks, establish clear communication lines, and provide oversight while respecting independent risk functions. This includes a Senior Risk Committee and aggregating business segment reporting to give boards a comprehensive view of risks.
Eziconnect provides moving and utility services in Australia with over 20 years of experience. They have 50 staff and can service customers nationwide. Eziconnect processes over 15,000 leads per month and has assisted over 1 million customers with moves. They offer integrated technology platforms and dual branded or white labeled options to partners.
This document contains short sayings and advice from the Dalai Lama on topics like taking risks, learning from mistakes, respecting oneself and others, spending time alone, being gentle with the Earth, and approaching love with abandon. The quotes encourage living honorably, resolving disagreements peacefully, sharing knowledge, and remembering the best relationships are based on love rather than need.
The document summarizes a chapter on corporate-level strategy from a strategic management textbook. It discusses seven key topics: (1) the definition of corporate-level strategy and different levels of diversification, (2) the three primary reasons firms diversify, (3) how related diversification can create value, (4) how unrelated diversification can also create value, (5) incentives and resources that encourage value-neutral diversification, (6) management motives that can encourage overdiversification and reduce value, and (7) a summary model of the relationship between diversification and firm performance.
Czar Peter the Great of Russia sought to reform and strengthen Russia between 1682-1725 through political, economic, religious, and social changes. Politically, he established a bureaucracy to better organize the government. Economically, he encouraged westernization to develop industry and secured a Baltic Sea port to increase trade. Religiously, he replaced the patriarch with a government-controlled Holy Synod and took control of the Orthodox Church. Socially, he implemented a western appearance and created a Table of Ranks system to determine social status. Through these reforms, Peter aimed to modernize Russia and increase its strength and position in Europe.
This document discusses corporate-level strategy and diversification. It defines corporate-level strategy as specifying actions to gain competitive advantage by selecting and managing different businesses. Diversification can occur at different levels from low to very high. Reasons for diversification include economies of scope, market power, financial economies, and external incentives like regulations. Firms can create value through related diversification using shared activities or transferred competencies, or unrelated diversification through efficient capital allocation or restructuring. However, overdiversification driven by managerial motives can reduce value. Low firm performance also provides an incentive to diversify.
The document lists various projects completed by Aquaworx and Firefighter Brand between 2004-present. These include the initial product launch of Firefighter Brand in Publix grocery stores in 2004, developing counter displays and booth designs for Nintendo, designing window displays and a video wall for a Nintendo museum, engineering office furniture desk designs, and interior auto design illustrations.
Maple Hills Maintenance Co. held a meeting to discuss repair projects and a proposed clubhouse. They outlined repairs needed for the deteriorating pool deck and outdated pool equipment totaling $109,000. They proposed building an $80,000 multi-purpose clubhouse to increase park usage. Residents would vote on these measures with a majority needed for approval. Questions from residents were taken at the end.
Czar Peter the Great sought to reform Russian society and institutions in the early 18th century to strengthen Russia's position in Europe. He implemented political reforms like the Table of Ranks system to reduce the power of the boyars. Peter also reformed the Orthodox Church by removing the patriarch and establishing a governing synod. Additionally, Peter created government colleges to modernize administration. Through these and other reforms, Peter transformed Russia's society, government, and economy to be more aligned with Western European models of the time.
The document discusses various technologies that can assist special education students including adaptive keyboards, assistive writing programs, eye gaze technology, interactive whiteboards, screen readers, touch screens, and voice recognition systems. It emphasizes the importance of communication between teachers, technology specialists, and assistive technology specialists to implement appropriate technologies. Examples are provided of how handheld devices can help special education students with tasks like creating assignments, staying organized, and remaining on task.
El documento ofrece consejos para bajar de peso de forma rápida, sugiriendo pararse de la cama y dejar de comer, lo que podría ayudar a bajar de peso rápidamente aunque de manera poco saludable. Fin.
Global solution for the overall fleet consumption reduction inside the Autmot...guestb741cc
The document discusses a global solution from MMCGroup to reduce fleet fuel consumption in the automotive sector. It presents three patents that could save over 5 billion euros and reduce material usage by over 1 million tons each. The patents could also apply to other industries and be implemented through various partnerships between OEMs, suppliers, governments, and investors.
The document discusses various technologies that can assist special education students including adaptive keyboards, assistive writing programs, eye gaze technology, interactive whiteboards, screen readers, touch screens, and voice recognition systems. It emphasizes the importance of communication between teachers, technology specialists, and assistive technology specialists to implement appropriate technologies. Examples are provided of how handheld devices can help special education students with tasks like creating assignments, staying organized, and remaining on task.
The document provides an overview of strategic management. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The strategic management process involves analyzing external opportunities and threats as well as internal strengths and weaknesses, formulating long-term objectives and strategies, implementing strategies, and evaluating performance. The benefits of strategic management include being proactive in shaping the firm's future, formulating better strategies, and improving financial and non-financial performance.
13 tonia swetman session 13 2012 04 21 doa wanda forum presentationBikash Jaiswal
The document provides information on sustainable pricing for community services. It discusses developing a sustainable price that covers all costs of delivering, administering, monitoring and evaluating a service. Key factors for determining a sustainable price include identifying direct, indirect and capital costs. Methods for allocating indirect costs and calculating unit costs are also presented. The importance of financial monitoring, auditing and tracking costs over time to ensure ongoing sustainability is emphasized.
Strategic management involves three main stages: formulation, implementation, and evaluation. The document provides an overview of strategic management, including defining it as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It also discusses the importance of integrating intuition with analysis in the strategic management process and the need for organizations to adapt to changing internal and external conditions.
Strategic management involves three main stages: strategy formulation, strategy implementation, and strategy evaluation. In strategy formulation, companies determine their vision, mission, external opportunities and threats, internal strengths and weaknesses, long-term objectives, and alternative strategies. In strategy implementation, companies develop annual objectives, policies, and allocate resources to achieve the strategic plan. In strategy evaluation, companies conduct internal and external reviews to measure performance and make corrective actions. Effective strategic management provides benefits such as enhanced awareness of threats and improved understanding of competitors' strategies.
MetisGRC is a governance and risk management consultancy that helps clients improve their performance through better governance and risk management practices. They provide assessments, surveys, advisory services, project management, coaching and education. Their clients include investors, shareholders, supervisors and other stakeholders. MetisGRC believes that good governance and risk management can reduce costs, improve efficiency and create value by strengthening stakeholder relationships. They help organizations implement transparent governance structures and risk management strategies and policies to enhance performance and meet stakeholder expectations.
This document discusses the need for finance functions to evolve and adapt to changing times and pressures. It outlines 5 questions finance leaders should ask regarding where they want the function to be, where it currently is, and how to close the gap. It also provides minimum requirements for an effective finance function and identifies 6 core disciplines. Additionally, it notes that finance is often dominated by low-value activities and must provide more value at lower cost by focusing on areas like business partnering, decision support, and risk management.
This document discusses enterprise risk management (ERM). It provides definitions of ERM and outlines some of its key principles, including identifying and managing risks to stay within an organization's risk appetite. The document also notes some common reasons for ERM implementation, including increasing shareholder value and meeting regulatory expectations. Practical tips are provided for implementing an effective ERM process, such as setting expectations, identifying initial steps, building an "ERM engine" to create the risk assessment and monitoring process, and focusing on success factors.
Social Impact Measurement Among Canadian Impact InvestorsPurpose Capital
This document discusses social impact measurement among Canadian impact investors. It aims to determine investors' knowledge and use of social impact metrics in investment decisions. Key findings include that investors vary in their motivations from optimizing financial returns to optimizing social impact. Investors use metrics differently depending on the investment lifecycle stage, favoring qualitative data for due diligence and outcome metrics for monitoring. However, few have the ability to collect outcome data. The challenges of standardization and isolating a venture's impact are also discussed.
The document summarizes an investment fund called Bridgepoint Greenfield Development Fund I LP. The fund will invest in early stage greenfield energy and infrastructure projects, with a focus on power generation and social infrastructure. It will seek investments from accredited investors and plans to invest in a minimum of 5 projects. The investment strategy is to take equity positions in projects with government backed offtake agreements to ensure revenue. The goal is to realize attractive exits for investments within 1-3 years.
Overcome Risk Using Process Management and ImprovementCathy Cecere
Process management helps to provide a line of sight from strategy through execution of organizational initiatives. Akin to the business analysis (BA) requirements discipline, this traceability enables performance maturity, better communication, clearer roles and responsibilities, and good governance. Clarification of problems or opportunities for improvement is integral to business analysis and process management. In each, you must elicit and clearly state a specific problem that quantifiably affects business/operation and that ultimately matters to your customers. Process management is
• an integral part of business analysis, implementation, improvement, and sustainability
• solves problems
• expedites risk identification, mitigation, and impact
In this webinar I will explain how to:
• tie process management to organizational strategy
• use process management as a foundation of good decision making, change management, and governance
• increase efficiency and value optimization throughout the organization.
The document discusses financial controllership and internal controls. It defines financial controllership as a management function that supervises accounting, financial reporting, and implementation of internal controls. It then discusses risks, the process of identifying and prioritizing risks, and considerations for evaluating risks. Finally, it defines internal controls as processes designed to provide reasonable assurance of achieving objectives related to operations, financial reporting, and compliance.
Provide Authority
Hold people accountable for what they can control
41
Effective Training
• Training is not just a one‐time event
• Training must be ongoing and reinforced
• Training must be relevant to job duties
• Training must be understood and applied
• Assess competency and provide feedback
• Training is an investment, not a cost
"Tell me and I'll forget; show me and I may remember; involve me and I'll
understand." - Chinese Proverb
42
Empowerment
• Empower employees to identify and correct issues
• Create environment where mistakes are opportunities to learn
• Provide tools and resources to solve problems
• Recognize
The document discusses using a balanced scorecard and strategy map to drive corporate performance. It explains the four perspectives of a balanced scorecard - financial, customer, internal process, and learning and growth. Strategic objectives are identified for each perspective to help organizations achieve goals and track key performance indicators.
The document discusses corporate governance best practices. It provides an overview of governance structures and principles such as the roles of the board of directors and senior management in oversight, risk management, and internal controls. It also outlines common challenges for boards, governance pitfalls to avoid, and recommendations for establishing strong governance policies and practices in areas like transparency, accountability, and compliance. Sample agenda topics are given for both audit committee and board meetings.
HR Measurement HR Dir VaLUENTiS-Scheringpres 260404njhceo01
This document discusses effective measurement of human resources (HR) at Schering UK, a pharmaceutical company. It provides an overview of Schering, its corporate HR strategy focused on competent people and excellent leaders. It also outlines Schering's key performance drivers and examples of HR scorecard measures like sickness absence and employer brand. Process maps depict the HR resourcing and developing a high performing workforce. The document advocates for measuring HR's impact on business performance.
A good risk appetite implementation process leverages existing practices, represents the aggregate view of risk across all lines of business and risk categories, and creates a dynamic structure that allows for internal and external changes in risk. Learn more about the 10 aspects of a robust and evolving risk appetite framework in this excerpt from the Credit Risk Management Audio Conference Series.
This document discusses how financial services firms are converging their finance, risk, compliance and treasury functions in response to regulatory pressures and market changes. It outlines trends driving this convergence, including increased complexity, competition and regulatory uncertainty. Firms must ensure financial and strategic decisions minimize risk exposure and consider impacts on customers, transactions and investments. The document also examines priorities firms are investing in, such as risk management and compliance, and how better integrating data and perspectives across divisions can help optimize goals around profitability and risk management. Examples of scenarios where converged information strategies could help with regulatory reporting and capital adequacy assessments are also provided.
How Project Portfolio Management Ties Leadership, Strategic IQ, and Organizat...Tim Washington
Given at the 2012 Boeing Project Management Conference in Mulkiteo, Washington. This presentation focuses on how project portfolio management is a critical piece for tying leadership, strategic IQ, and organizational health together.
This presentation was originally given at the Boeing Project Management conference in Mulkiteo, Washington in October of 2012.
Siegfried addressing current governance and risk management challenges in gov...icgfmconference
The document summarizes a presentation by Alan Siegfried on addressing current governance and risk management challenges in governmental and international organizations. Siegfried discusses how the global economic turmoil has shaken stakeholder confidence and presents opportunities for internal audit to demonstrate leadership in risk management. He outlines 10 current challenges for governance and risk management functions and potential roles for internal audit in risk assessment and monitoring organizational governance.
Set of decision and actions resulting in formulating and implementation of strategies designed to achieve the objectives of an organization.
Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives.
2. The Broad Steps to Risk
Governance Reform
• Build a case
• Develop a framework
• Perform pilots
• Develop learning strategies
• Implement across the organization
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3. Change Management
Corporate systems are self-preserving and
resistant to change. Only when the need is
widely recognized and a solution exists
that appears to work does the desire to
change exceed the natural tendency to
resist it.
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5. Does the board truly understand the
strategic objectives, the top risks
the company faces in executing
strategies, and the strength of the
processes that keep the board and
senior management informed?
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6. To evaluate the company’s capacity to achieve
objectives, directors need confidence in a
system of effective internal controls and the
reliability of its maintenance, as well as evidence
of widespread attentiveness to risk. They must
believe in management’s capacity to stay within
the boundaries of established tolerances and to
report clearly and concisely when those
boundaries are approached.
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8. Without the right culture the risk taken can easily
exceed the risk intended, regardless of the
processes employed to measure and monitor it.
The goal is an environment where personal
visions connect and employees come to
understand and agree with intended outcomes
and their individual and team roles in achieving
them.
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9. Are all lines of business that
contribute to any given strategic
objective, while likely to be managed
separately, evaluated as a complete
set of activities?
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10. Corporations in their entirety are more than
collections of individual activities subject to the
separate interests of their components.
Operating units work together across the
enterprise not in relation to their positions within
segments, but according to their relative roles in
support of defined strategies.
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12. Neither capital nor risk can be calculated
precisely and confidence in predictable
outcomes is necessarily limited; therefore,
managing to the measurable alone is
insufficient. To provide reasonable assurance
that the risk taken is equivalent to the risk
intended, enhanced processes of risk
evaluation coupled with assessments of
human capital must be added to traditional
tools of measurement.
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13. Do all lines of business (particularly
support activities) coordinate so that
their duties do not overlap and their
reports to the board and senior
management are compatible?
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14. Reliable financial reporting and strict
regulatory compliance are unconditional yet
costly requirements. Efficient processes
that boost coordination and enable leverage
across risk, finance, compliance, audit and
lines of business are both reasonable
expectations and consistent with the
imperative of operational effectiveness.
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15. Does the market perceive corporate
governance as a strong point in
evaluating the company’s
reputation?
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16. Disciplined, reliable and comprehensive
systems of risk management and
corporate governance foster investor
confidence in management’s capacity to
take and manage risk.
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17. Deliverables
• Properly executed, effective risk governance satisfies:
Management’s need for line of business control and supervision
The board’s need for perspective to perform oversight, make
strategic decisions, and evaluate management
Regulatory expectations for effective, observable risk
management practices
• And leads to:
Efficient processes that enable leverage across finance, risk,
compliance and audit
Market confidence in management’s capacity to take and
manage risk
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18. Aspirations
• Enhanced reputation
• Higher P/E multiple
• Increased shareholder value/
market capitalization
If the market’s appraisal of management’s competence
is reflected in the amount by which total capitalization
exceeds net worth, then enhancing one’s reputation
leads to increased shareholder value.
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19. Essential Principles + Employee Connection
Yields Increased Shareholder Value
Process:
Enterprise- • Assurance
wide risk • Facilitation Clear oversight
management Reliable reporting
perspective
• Verification Efficient operations
principles Observable Increased
Compliance with governance practices shareholder
laws
Culture: Market & regulatory value
• Awareness Capital confidence
Employees preservation
who feel Better reputation
• Literacy
connected to
• Accountability
the company
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21. The Central Framework
• The operating framework includes:
Employee Engagement
Core Objectives
Uniform Procedures
Shared Corporate Hierarchy
Management & Board Reporting
• The roles necessary for the framework’s
execution and maintenance are:
Assurance of its Effectiveness
Facilitation of its Performance & Upkeep
Verification of its Reliability
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22. Employee Engagement:
“Once you blow the whistle you can’t inhale.”
(Bill Chadwick, former National Hockey League referee)
Unless those who initiate transactions care
about and understand their impact on the
company’s risk appetite, the outcome may
depart from that which was intended.
How people communicate matters as much as
how they measure.
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23. Employee Engagement
Employee engagement is founded on
four principles:
Leadership accountability
Education and awareness
Recruitment and hiring
Development and retention
Accountability plus literacy produces a
shared vision.
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24. Core Objectives
To implement processes that provide for:
Achievable strategies – reasonable
assurance of sustainable results
Reliable financial and non-financial reporting
Effective and efficient operations
Compliance with prevailing laws and
regulations
Preservation of economic and human capital
resources
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25. Uniform Procedures
Begin with articulating strategic
objectives and cycle through
identifying, accepting and
monitoring risks, determining
residual risk, and, based on the
results, reaffirming or adjusting
risk appetite and strategy.
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26. Uniform Procedures
Articulate
strategic
objectives
Evaluate
outcomes/ Identify
renew inherent
strategy risk
acceptance
Recursive
Escalate Establish
and resolve evaluation and control
exceptions reaffirmation activities
Determine Assess and
actual accept
residual intended
risk Monitor risk
controls/
report
actual vs.
expected
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27. Inherent Risk, Control Activities,
Residual Risk
• Inherent risk is a function of generic and unique
determinative factors that give rise to uncertainty
– change, volume, complexity and what can go
wrong with an entity’s specific activities.
• The control environment is the set of activities
intended to keep things from going wrong or to
raise warnings when they start to.
• Residual risk is determined by combining the
relative level of inherent risk with the observed
control effectiveness.
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28. Corporate Hierarchy
• How the enterprise is subdivided into levels of
assessable parts starting with all segments and
ending with the lowest level of separately managed
silos (“operating units”).
• To assure efficient communication and consistency
of reporting, a common hierarchy should be shared
by the entire enterprise (especially Finance, Risk,
Compliance and Audit), at least to the point that
they can map their individual procedures to the
shared hierarchy.
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29. Corporate Hierarchy
Enterprise Level I Level II Level III
Segments: Operating
1 unit 1
2
3 Line of Operating
Business 1 unit 2
4
5
Operating
6 unit 3
7 Segment 1
8 Operating
9 unit 4
Line of
Business 2
Operating
unit 5
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30. Senior Management & Board Reporting
• Information travels many paths to reach
senior management and the board
• Coordinating the diverse sources of data
while respecting their distinct voices requires
deliberate structure and dedicated resources
• Oversight is only as effective as the clarity of
knowledge necessary to exercise it
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31. Senior Risk Committee & Risk
Governance Council
Two innovative groups help to promote senior
management literacy and enhance board
reporting:
Senior Risk Committee: chaired by CEO, comprised
of Chief Operating Officer, Chief Risk Officer, Chief
Audit Executive, Chief Financial Officer, General
Counsel, Head of HR...
Risk Governance Council: chaired by CRO,
comprised of CAE, Chief Accounting Officer, Heads of
Operational, Credit & Market Risk, Chief Compliance
Officer...
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32. Senior Risk Committee
• No formal agenda, meet periodically (e.g.,
monthly)
• Review high and emerging risks to
strategies, incidents and incident
responses; discuss economic and human
capital resource allocations; renew
commitments to intended risk
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33. Risk Governance Council
• Provide assurance to senior management and the board
that residual risk across the enterprise is continuously
monitored
• Determine that residual risk is based on actual, as
opposed to expected, internal control environments
• Examine identified control weaknesses for potential
damage; recommend changes to accepted risk
tolerances, both up and down
• Calibrate risk tolerance by clarifying choices among
reducing inherent risk, tightening controls, or allowing
greater residual risk, and present analysis to Senior Risk
Committee
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34. Senior Committee
Organizational Structure
Board of
Directors
Risk
Senior Risk Internal
Governance
Council Committee Audit
Operational
Credit Risk Market Risk
Risk
Committee Committee
Committee
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35. Apply the Framework
1 In each entity of the hierarchy…
2 execute the uniform procedures…
3 to determine whether the objectives are being
met.
The resulting database includes, by operating unit,
inherent risks, control environment evaluations,
control exceptions, and residual risks
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36. Systems Thinking
• While complete in their silos, operating units – entities of
sales and support – work together, not only according to
their individual nature, but also according to their relative
roles and positions in the system.
• Inherent delays between actions and outcomes naturally
give rise to unintended consequences because actions
taken in one part do not affect all related parts at the
same time, but do so at the pace of their movement
through the system.
• By delivering consistent assessments of each of the
parts and enabling an assembled view of the whole, the
framework provides perspective that augments
preparation, anticipation, response, and recovery.
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37. 37
Risk Management
9
Human Resources
8
Legal/Compliance
7
Operations
6
Technology
5
Manage by Segment
Finance
4
Line of Business 3
3
Management
Line of Business 2
2
1 Line of Business 1
Oversee by
Strategy
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D
B
A
38. Presentation Format: Segment Risk
• The following slide is a compilation of individual
assessments of all operating units within a sample
segment: Technology.
• It displays how control concerns in separate parts affect
the entire segment.
• Risk tolerance can be defined as the intended risk – the
inherent risk intentionally taken with the assumption of
an acceptable control environment.
• Comparing actual risk to intended risk presents senior
management and the board the opportunity to quickly
evaluate the segment capacity to take on additional risk,
such as new products, strategies or acquisitions.
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39. Actual vs. Intended Risk:
Technology Segment Risk Control Environment
Low Acceptable
Medium Marginal
High Unacceptable
Inherent + Tested Control = Residual Intended
Strategy Risk Environment (Actual) Risk Risk*
A
B
C
D
Composite Segment
* Inherent Risk + Acceptable Control Environment = Intended Risk
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40. 40
Risk Management
9
Human Resources
8
Legal/Compliance
7
Operations
6
Technology
5
Manage by Segment
Finance
4
Line of Business 3
3
Line of Business 2
2
Oversight
1 Oversee by Line of Business 1
Strategy
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D
B
A
41. Presentation Format: Strategy Risk
• The following slide is a compilation of individual
assessments of interdependent entities engaged in the
execution of a particular strategy (a “strategic domain”) .
• It displays how control concerns in separate parts affect
the strategy.
• Comparing actual risk to intended risk presents senior
management and the board the opportunity to quickly
evaluate strategies and determine exactly where they
need to focus their attention to increase assurance that
strategies are most likely to achieve intended objectives.
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42. Actual vs. Intended Risk:
Strategy “A” Risk Control Environment
Low Acceptable
Medium Marginal
High Unacceptable
Strategic Domain: Inherent + Tested Control = Residual Intended
Operating units Risk Environment (Actual) Risk Risk*
Line of Business
Finance
Technology
Operations
Compliance
Human Resources
Risk Management
* Inherent Risk + Acceptable Control Environment = Intended Risk
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43. Is This What We Want?
• Both inherent and residual risk are important to monitor –
well-managed/high inherent or poorly managed/low
inherent can each lead to unacceptable outcomes.
• In its silo, the line of business may be well-managed; but
if other components of the strategy exhibit high residual
risk, the overall risk may exceed that which was
intended.
• Decision: resolve the control issues, reduce the inherent
risk, or accept the residual risk.
• Comparing segment and strategy evaluations:
Are any operating units stressed supporting multiple strategies?
Are economic and human capital resources distributed most
favorably?
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44. Four Key Roles to Execute and Sustain
1 Monitor employee engagement – a function of human resources. As with
any initiative, employee engagement must be tracked and tested to
evaluate the depth of its understanding and fulfillment.
2 Assure effectiveness – to align accountability with ownership, lines of
business should be responsible for assurance by attesting to the design
and operating effectiveness of their identified controls, and for reporting
and resolving exceptions.
3 Facilitate performance and upkeep – a discrete risk management function
is desirable to facilitate process execution through focused support units
that consult on building, implementing, and maintaining the framework.
Risk units serve as a central clearing organization for retaining shared
databases, and promote replication of the pattern of evaluation and
reporting across the enterprise.
4 Verify continued reliability – internal audit verifies through independent,
objective oversight that management’s assurances can be relied upon,
internal controls are designed and operating as reported by management,
exceptions are appropriately escalated, and practicable resolutions are
prescribed and on track.
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