This document discusses managing performance using a triple bottom line approach that considers financial, social and environmental impacts. It outlines some of the challenges with measuring non-financial performance, including linking metrics to strategy, setting appropriate targets, and measuring correctly. Common mistakes include not tying metrics causally to strategic goals, setting unrealistic targets, and using invalid or unreliable measures. The document provides guidelines for risk management and emphasizes the importance of transparency, accountability and governance in managing a triple bottom line.
STRATEGIC MANAGEMENT PROCESS - Featuring Policy-Strategy InterlockTANKO AHMED fwc
Policy and strategy are intimately linked in strategic management process for articulation of mode and techniques of attaining set objectives involving definition or clarification of goals, description of the trends, analysis of conditions, projection of future developments, evaluation and selection of alternatives and; choosing of the preferred options.
STRATEGIC MANAGEMENT PROCESS - Featuring Policy-Strategy InterlockTANKO AHMED fwc
Policy and strategy are intimately linked in strategic management process for articulation of mode and techniques of attaining set objectives involving definition or clarification of goals, description of the trends, analysis of conditions, projection of future developments, evaluation and selection of alternatives and; choosing of the preferred options.
human resources functions in government should be strategically integrated with the planning and management control tasks in agencies
1st Semester 2020
Strategic management involves the application of day-to-day activities aimed at achieving the overall goals and objectives of organizations. It is all about getting the job done or ‘job must be do’ as seen in the Nigerian Military ethos
Governance - How You Did It, Not Just How You DidMalcolm Ryder
Doing things the right way is most often looked at in terms of whether a desired result predictably arrives. Those results make sense for "share" holders as performance, but "stake" holders are different.
1 Strategic Planning for Planning for Public and Non Public Organizations 012...Jo Balucanag - Bitonio
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy
human resources functions in government should be strategically integrated with the planning and management control tasks in agencies
1st Semester 2020
Strategic management involves the application of day-to-day activities aimed at achieving the overall goals and objectives of organizations. It is all about getting the job done or ‘job must be do’ as seen in the Nigerian Military ethos
Governance - How You Did It, Not Just How You DidMalcolm Ryder
Doing things the right way is most often looked at in terms of whether a desired result predictably arrives. Those results make sense for "share" holders as performance, but "stake" holders are different.
1 Strategic Planning for Planning for Public and Non Public Organizations 012...Jo Balucanag - Bitonio
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy
How to Build a Dynamic Social Media PlanPost Planner
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Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
Content personalisation is becoming more prevalent. A site, it's content and/or it's products, change dynamically according to the specific needs of the user. SEO needs to ensure we do not fall behind of this trend.
Lightning Talk #9: How UX and Data Storytelling Can Shape Policy by Mika Aldabaux singapore
How can we take UX and Data Storytelling out of the tech context and use them to change the way government behaves?
Showcasing the truth is the highest goal of data storytelling. Because the design of a chart can affect the interpretation of data in a major way, one must wield visual tools with care and deliberation. Using quantitative facts to evoke an emotional response is best achieved with the combination of UX and data storytelling.
Succession “Losers”: What Happens to Executives Passed Over for the CEO Job?
By David F. Larcker, Stephen A. Miles, and Brian Tayan
Stanford Closer Look Series
Overview:
Shareholders pay considerable attention to the choice of executive selected as the new CEO whenever a change in leadership takes place. However, without an inside look at the leading candidates to assume the CEO role, it is difficult for shareholders to tell whether the board has made the correct choice. In this Closer Look, we examine CEO succession events among the largest 100 companies over a ten-year period to determine what happens to the executives who were not selected (i.e., the “succession losers”) and how they perform relative to those who were selected (the “succession winners”).
We ask:
• Are the executives selected for the CEO role really better than those passed over?
• What are the implications for understanding the labor market for executive talent?
• Are differences in performance due to operating conditions or quality of available talent?
• Are boards better at identifying CEO talent than other research generally suggests?
Achieving momentum for a social business strategy for many organizations is challenging
enough, but execution is often fraught with unanswered questions: Who owns social? How are key decisions made? How do we organize to execute social?
In this report, we define a social business governance system of 4 P’s: people, policies, processes, and practices. We use that framework to provide a maturity model to assess where you are, and we include best practices, policy templates, and a decision-making matrix that you can use to define Social Business Governance (SBG) that will help you both achieve the potential of your strategy and manage risk.
Download the full report at: http://goo.gl/y2uiKR
Strategic management contribute to :
develop competitive advances and reveals implementation practices and mechanisms of control
Allow a long-term alignment and a progressive environment strategy
Lead to globalization and strategic flexibility
Business must be the major driver of innovation and sustainability in our society if we are to avoid a “perfect storm” of resource scarcity, climate change, and pollution. The “triple bottom line” concept is a response to this need, but its use is limited because it does not address the competitive strategy of the firm. A strategy-based balanced scorecard system aligned with principles of the Triple Bottom Line offers a way to accomplish social and environmental goals while integrating them fully with financial performance and competitive advantage.
Evaluating an M&A strategy to expand impact and enhance outcomesGrant Thornton LLP
While organizational objectives can be achieved by establishing one-off partnerships and informal collaborations, some not-for-profits have elected
to expand impact by formalizing relationships via an M&A (Mergers & Acquisitions) strategy.
12 March 2015 Employee Benefit Plan Review■ Focus On … Pla.docxdrennanmicah
12 March 2015 Employee Benefit Plan Review
■ Focus On … Planning
T
imes are changing. Affordable Care
Act (ACA) compliance, an aging and
shrinking workforce, technology, and
medical and pharmaceutical advance-
ments are on a collision course that is chang-
ing the face of compensation and benefits. As
a result, senior leadership is relying on their
employee benefits professionals more than
ever to help them navigate and mitigate risk.
The secret weapon is deceptively simple: an
Employee Benefits Strategic Plan.
Employee Benefits
Strategic Plan
For some, “strategic planning” is a series
of formulaic meetings that result in a report
that ends up on a shelf, rarely referred to or
used until the next cycle. For a select few,
however, it is a crucial part of the organiza-
tion’s sustainability—a road map used to guide
decisions.
Organizational strategic planning sets pri-
orities and goals for the future. An Employee
Benefit Strategic Plan employs the same
approach but is specific to the total compensa-
tion approach of the organization. Simply put,
in an environment of consistently rising health-
care costs and shifting healthcare regulations,
it is essential for organizations to create long-
term strategies with short-term objectives and
have a quick-response review process in place.
The fiscal realities of increasing healthcare
costs mixed with ACA unknowns can impact
your organization’s financial performance in
several ways. It may drag down shareholder
value, become a drain on company perfor-
mance, or negatively impact the culture and
human capital within a business. Yet, with all
these negative impacts, most organizations still
do only a superficial short-term employee ben-
efits plan for themselves.
What constitutes a strategy and how do
we actually build a plan? A good definition of
strategy is “… choosing to perform different
activities that will provide a sustainable compet-
itive advantage.” It is a way of thinking about
the world and approaching business. Strategic
planning is a process to produce innovative and
creative ideas that serve as the core framework
for the organization and design its future.
By adopting a strategic employee benefit
planning process, organizations can make deci-
sions regarding their benefits with significantly
less stress for all involved.
How to Create a Strategic Plan
Most strategic planning models share a com-
mon discover/analyze/design/build/review struc-
ture. This process appears to be simple, but it
does have complex and powerful components
within each category.
First, confirm that the organization is ready.
Building a comprehensive plan requires com-
mitment from the top down.
Next, make sure all stakeholders are repre-
sented. In addition to the C-Suite and human
resources (HR), the committee should include
representatives of all major employee groups
and functions. It is not uncommon for a stra-
tegic planning committee to have 12 or.
Strategy is the action taken by strategists to achieve the goals of the organization.
It deals with long term development rather than routine operations like: new product development, capturing new customers , occupying new geographic location, adaptability of technology & focusing on creativity & innovativeness.
It ca be defined as a general direction set for the company & its various components to achieve a desirable state in future.
Strategy plays a significant role in forecasting future uncertainties by scanning the environment.
The main aim of Strategic Management (SM) is to help the organization to operate successfully in the dynamic environment which is complex by nature.
It helps the business to be less bureaucratic & more flexible.
It provides competitive advantage to the organization.
It demands that the company should be a learning organization which creates, acquires and transfers knowledge.
Strategic management process consists of four stages. These are
Environmental scanning
Formulation of Strategy
Implementation of the Strategy
Evaluation & Control of the Strategy.
Environmental scanning is the systematic process of monitoring, evaluating and disseminating information from the external & internal environments to key people within the organization.
The external environment consists of opportunities & threats that are outside of the organization whereas internal environment consists of strength & weakness that are within the organization itself.
The internal environment includes the management, employees, structure, culture and resource of the organization.
The environmental scanning is done through SWOT analysis.
Strategy Formulation is the development of long-range plans for the effective management of environmental opportunities & threats in light of corporate strength & weaknesses.
It includes defining the corporate mission, specifying achievable objectives, developing strategies & setting policy guidelines.
In this step the organization must practically fix the quantitative target values for some of the organizational objectives.
Strategy Implementation is the process by which strategies & policies are put into action through the development of programs, budgets & procedures.
This process might involve changes within the culture, structure, system of the organization.
Most of the times, strategy implementation is carried out by middle & lower level managers with the review by the top management.
Sometimes referred to as operational planning, strategy implementation often involves day-to-days in resource allocation.
It includes programs, budgets & procedures.
Evaluation of Strategy is the process in which corporate activities & performance are monitored so that the actual performance can be compared with desired performance.
Managers at all levels use the resulting information to take corrective action & resolve problems.
A critical evaluation must be done on the basis of the organization’s past performance.
Corporate Governance a Balanced Scorecard approach with KPIs between BOD, Exe...Chris Rigatuso
This paper, from 2003, during my time at Oracle, was an early attempt to define metrics for inducing accountability between BOD, executives, and operating management of corporations. It's geared to large companies, but the lessons are broadly appreciable. It was published in CFO Reviews by Anderson Consulting, and other places. It predates the SOX Sarbanes Oxley laws that were a result of the Enron Scandal.
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
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➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
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Agency Managed Advisory Board As a Solution To Career Path Defining Business ...
Managing the triple bottom line
1. MANAGING THE TRIPLE BOTTOM
LINE
[GOING BEYOND CSR]
Professor Jayashree Sadri
and
Dr Sorab Sadri
2. WHY A TRIPLE BOTTOM LINE?
At any period in time, governance must
emphasize a particular subset of activities in
decision-making and resource allocation - the
dominant subset of these activities is called
the driving governance role.
Driving governance role must change with
shifts in the importance and nature of the
externalities that shape the agenda of various
stakeholders, particularly with respect to
maximizing the public good.
An existing set of activities is not abandoned
for another, rather a different subset of these
activities becomes dominant in decision
making and resource allocation.
3. OPERATING IN SITUATIONS WITH
SIGNIFICANT EXTERNALITIES
Private corporations have a fundamental fiduciary
responsibility of auditing financial performance to ensure
they are being run in the financial interests of their owners –
externalities are often relatively insignificant, although this is
changing due to increasing social and environmental
pressures1.
Public organizations must take into account a broader view
of their oversight and policy responsibilities – they must deal
with significant externalities ranging from social to economic,
environmental, ethical, cultural, political, and even religious
interests – many of which are complex and ambiguous.
Three types of patterns are commonly associated with the
emergence of new externalities – economic and political
cycles, industry and business-model shifts, and
organizational crisis.
4. SUSTAINABLE DEVELOPMENT
Faced with increasing pressures to consider sustainable
development, many organizations have revised their
business models, and these changes are often highlighted
in corporate sustainability reports and Web pages.
Dupont has publicly stated that, by 2010, it will reduce its
green house gas emissions by two-thirds while holding its
annual energy use to 1990 levels.
Suncor has pledged to make 12% of its workforce
indigenous, given that such populations dominate many
of the areas in which the company works.
TransAlta has stated that, with appropriate regulatory
systems in place, it could reduce its carbon dioxide
emissions to a net quantity of zero by 2024.
5. THE NEED FOR REPORTING
Because human beings are generally not adept at at self-
evaluation and monitoring, a recommended practice is for
annual reporting to describe how well these externalities are
being dealt with.
This need is more than disclosure – it is to determine whether
the action plans and investment of resources actually produce
the desired results.
A most difficult task is the one of measurement, particularly in a
culture that is dominated by financial reporting – this is where
an organization is most likely to benefit from the help of
outsiders.
6. MEASURING NON FINANCIAL
PERFORMANCE
Non-financial measures are equally, if not more,
susceptible to manipulation as financial
accounting – at least traditional accounting has
rules that govern it ( for example GAAP).
The misuse of non-financial measures may be even
more damaging because of the significant
opportunity costs incurred.
Can end up measuring too many things, trying to
fill every conceivable gap in the measuring system
resulting in a profusion of peripheral, trivial, or
irrelevant measures and data.
Must prove basic causality to determine the
relevance of the information being collected
7. Jayashree sadri and Sorab Sadri
The Three Ms
As with any research so too with every
strategy we need to be clear about the three
Ms if we are not to trip ourselves up.
MEANING: what we mean and why we mean
it.
METHOD: how do we go about achieving our
goals and what are our constraints.
MEASUREMENT: how do we calculate our
data to arrive at meaningful conclusions.
8. COMMON MISTAKES
1. Not linking measurement to strategy
Performance measures are intended to direct the
allocation of resources, to asses and communicate
progress toward objectives, or to evaluate performance.
Adopting a framework like the Balanced Scorecard or
some other off-the-shelf checklist can be characterized
as the “smorgasbord” or “bucket” approach – fill in
each box with something regardless of strategy or
objectives.
Require casual models that link performance measures
directly to the goals of the strategic plan.
9. COMMON MISTAKES
2. Not setting the right targets
Target setting is inherently difficult because it
always takes awhile for improvements resulting
from new initiatives to occur.
Organizations are prone to focus on the promise of
short-term results even though other initiatives may
have better long-term prospects for success.
10. COMMON MISTAKES
3. Measuring incorrectly
Difficult to find metrics that have statistical validity and
reliability.
“Validity” refers to the extent to which a metric
succeeds in capturing what it is supposed to capture.
“Reliability” refers to the degree to which measurement
techniques reveal actual performance changes and do
not introduce errors of their own.
11. CORRECTING THE ERRORS
The triple bottom line has no inherent value - it will offer
little guidance if the data is based on generic or
borrowed performance measurement frameworks and
managerial guesswork rather than a through enquiry
into the factors actually contributing to successful
outcomes for the particular organization.
Otherwise, having prospered as “flavour-of-the-month”,
such measures are likely to be abandoned in lean times,
along with the managers who promoted and justified
their existence.
Unless the measures are directly linked to the strategic
plan through some causal model, and regularly updated,
managers are prone to disagree on the merits of the
effort and on which performance measures are critical
to success.
12. THE SCORE CARD
Certainty - are all parties clear, every step of the way,
as to what they are committed to, through both formal
and informal arrangements?
Transparency - with due regard for confidentiality in
certain business transactions, is the public satisfied
that the process itself is open, fair and equitable?
Accountability - does the process ensure that
those who hold the public trust are accountable,
and to whom?
Governance (fiduciary responsibility)- is there a
clear process of governance that protects
shareholder interest?
13. Jayashree sadri and Sorab Sadri
SOME MUSTS
Clear understanding of the “value” of any real
property assets that is being considered
A valuation versus an appraisal process for these
assets that is clear, accountable, defensible, and
subject to independent audit and scrutiny
No right to expose the public interest to financial
liability beyond the “value” of its equity
contribution
14. Jayashree sadri and Sorab Sadri
SOME MORE MUSTS
Clear governance structure that meets rigid standards of
“best practices” in corporate governance
Clear risk management strategy in place that recognizes
financial, environmental, social, business, market, and
political risk
Clear disposition agreement or exit strategy for the
subsequent sale or conveyance of any assets
Clear performance measures against which the
achievement can be measured (gross versus net sale
proceeds)
15. RISK MANAGEMENT GUIDELINES
Governance
Conflict of interest and ethical conduct standards
Due diligence requirements
Debt structure requirement (leverage)
Record keeping and reporting
Approval authorizations
Adherence to public policies and procedures
Competitive bidding
Phasing (market risk)
Letters of credit and performance bonds
Insurance
Cost control
Independent scrutiny
16. “At the end of the day, the essence of a
company is not what they do - it is what
they know” .
Gary Hamel. “Innovation Now”, Fast
Company, December 2002
17. Jayashree sadri and Sorab Sadri
The Indian Trilogy
It is not just what you know that matters. Thomas
Hobbes writing in the Leviathan that knowledge
is power was wrong.
We opine that how you use the knowledge is
what gives you power.
Using the Indian ethos in management we must
move from gyan to buddhi and culminate at
vivek.
Thereby a collective consciousness emerges and
developmental growth is enabled.
18. Jayashree sadri and Sorab Sadri
If Not
We in management shall be behaving like a
patient suffering from Parkinson’s Disease:
all movement and no meaning.
Corporate Governance tells us what is the right
movement whereas Business Ethics gives us
its true meaning!