Strategic Planning, Execution, and Measurement (SPEM): A Powerful Tool for CEOs, 1st Edition (Paperback) book cover

Strategic Planning, Execution, and Measurement (SPEM)

A Powerful Tool for CEOs, 1st Edition

By Girish P. Jakhotiya

Productivity Press

293 pages | 31 B/W Illus.

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Paperback: 9781466567450
pub: 2013-05-13
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Description

Although there are countless books available on strategic management, there are few, if any, that supply practical coverage of strategic planning, execution, and measurement—until now. Considering the entire value chain, this book covers the complete process of strategic planning, execution, and measurement.

Based on three decades of field-tested experience, Strategic Planning, Execution, and Measurement (SPEM): A Powerful Tool for CEOs provides both a consultant’s view and an entrepreneurial approach to strategic planning, execution, and measurement. Walking you through the process, it begins by defining world-class status, visions, missions, business models, and value chains. Next, it discusses the two most important prerequisites of strategic planning and includes a questionnaire to help you evaluate operations, systems, and structure in your organization.

The book provides a matrix of 25 parameters for assessing the status of your organization that can help to pinpoint the perceptional gaps between top executives and owners. It includes a strategy bank with 150 generic strategies in the five performance areas of business and identifies methods for monitoring strategy execution that provide early warning signals. It also introduces the Entrepreneurial Score Card, a tool for improving the impact of strategic planning and execution in your organization.

Detailing the structure and preparation process for the strategic plan, the book illustrates the financial impact of strategy execution and explains the various financial monitoring parameters used in the performance cards of individual employees. It concludes by describing an entrepreneurial approach to strategic planning and with a comprehensive case study that illustrates the entire strategy formulation process and its conversion into an annual budget.

This book is ideal for CEOs, CFOs, COOs, business owners, heads of business verticals, heads of corporate planning or strategy, functional heads, teachers, students, and practicing consultants in the area of strategic planning.

Table of Contents

Strategic Planning: A Tool for Reaching World-Class Status

Defining World-Class Status

Gaining World-Class Status

Benefits of Strategic Planning

Fundamental Factors Defining Scope of Strategic Planning

Institutionalization of Vision and Mission

Example 1.1: Indian Automobile Company

Other Important Factors: Business Model, Core Competence, and Value Chain

Business Model and Return on Investment

Core Competence

Value Chain

Example 1.2: A Company and B Company

Example 1.3: ABC Company

Prerequisites of Strategic Planning: Inquiry and Status Evaluation

Prerequisite 1: Examining Performances, Perspectives, and Aspirations

Part A: General Inquiry

Part B: Business Development Inquiry

Part C: Strategic Cost Management Inquiry

Part D: Operations Management Inquiry

Part E: Employee Productivity Inquiry

Part F: Resource Management Inquiry

Prerequisite 2: Status Evaluation

Versatile Corporate Evaluation

Strategic Plan: Components, Preparation, Review, and Recommendation

Structure and Components

Duration

Format

Strategy for Performance Areas

Hurdle Management

Cost–Benefit Analysis (CBA)

Schedule for Execution

Crisis Management and Exit Route

Execution and Impact Routes

Execution Route

Impact Route

Preparation

Implementation

Review and Recommendations for Improvisation

Generic Strategies for Five Performance Areas

Monitoring Parameters for Strategy Execution and Impact Measurement

Need for Monitoring

Periodicity of Monitoring

Monitoring Process

Monitoring Parameters

Business Growth and Expansion Monitoring Tools

Strategic Cost Management Monitoring Tools

Operations, Logistics, and Technology Management Monitoring Tools

Employee Development and Satisfaction Monitoring Tools

Resource Management Monitoring Tools

Measurement of Strategy Execution and Financial Monitoring

Pyramid Movement of ROI for Strategy Execution

Financial Impacts of Strategy Execution

Financial Monitoring

Common Characteristics of Financial Parameter Tables

Level 1: Systemic Employees

Level 2: Knowledge Employees

Level 3: Decision-Making Employees

Level 4: Entrepreneurial Employees

Entrepreneurial Score Card: A Tool for Improving Impacts of Strategic Planning and Execution

Need for Entrepreneurial Score Card (ESC)

Ten Characteristics of Entrepreneurial Employees

Entrepreneurial Behavior Questionnaire

Classification of Employees Based on Competencies, Roles, and Empowerment Levels

ESCs for All Employees

ESCs for Four Employee Categories

Sales and Marketing Employees

Production or Operations Employees

Purchasing Employees

Finance and Accounts Employees

Human Resource (HR) Employees

Research and Development Employees

Entrepreneurial Rewards

Knowledge Management for Entrepreneurial Competencies

Objectives

Key Components

Methods of Identifying Knowledge Requirements

Knowledge Sources

Knowledge Classification and Storage

Knowledge Evaluation for Potential Use

Knowledge Sharing

Knowledge Application

Knowledge Sharing Mechanisms

Employee Feedback

Management Appraisal

Promotion of Knowledge Management Efforts

Comprehensive Case Study

Background and Recent Performance

SWOT Analysis

Strategic Plan: Strategies for Five Performance Areas

Measuring Financial Impact of Plan on Company Performance

Budgeted Performance and Result Indicators for the Year 2013–2014

Execution Route, Time and Resource Mapping, and Impact Route

Index

About the Author

Girish P. Jakhotiya, MCom, FCMA, PhD, is a renowned management consultant, educator, researcher, author, and speaker. He has conducted consultations with more than 60 multinational and Indian corporations and banks, including Siemens, British Petroleum, World Bank, ILO, Philips, Tata Group, Mahindra & Mahindra Group, Larsen & Toubro Group, Forbes Group, Hindustan Unilever, Castrol, Indian Oil, SICOM, IDBI Bank, Central Bank of Oman, Sesa Goa Group, and Dempo Group. He has also served as an advisor for such government organizations as NABARD and Agriculture Finance Corporation, among others. He developed the Economic Growth Model for the government of Oman. Based on his consulting experience and research, Dr. Jakhotiya designed a comprehensive business management model titled AGNI (Aggregate Growth through Networking and Innovation). AGNI is patent pending.

Before venturing into a profession of management consulting, research, and training, Dr. Jakhotiya was a senior professor of finance and strategy at the well-known Jamnalal Bajaj Institute of Management Studies, University of Mumbai (Bombay), where he was named the "All India Best Young Professor of Management" by the Association of Indian Management Schools (AIMS) in 1996. The Bombay Management Association designated him the "Best Management Teacher" in 1997.

Over the past 29 years, Dr. Jakhotiya has educated more than 27,000 corporate executives, government officials, entrepreneurs, and bankers in the areas of strategic management, financial management, public finance, and human resource management. He has also lectured on economic governance in special workshops organized for Indian politicians.

Under his able guidance, five scholars earned their doctorates. His training Programs are based on contemporary ideas, live case studies, and relevant literature.

Dr. Jakhotiya’s research focuses on fundamental issues and problems faced by the global economy. His original framework for this research is titled "Spiritual Economics" (or "Eternal Economics"). He strongly believes that a pragmatic and sustainable combination of socialist economic equity and capitalist entrepreneurial wisdom is the right answer for global dilemmas.

Dr. Jakhotiya’s management consulting firm Jakhotiya & Associates is known for offering innovative yet pragmatic solutions. Dr. Jakhotiya and his team strongly believe in acquiring intellectual property rights and using them appropriately for industry and society at large.

Dr. Jakhotiya is the author of five books, Strategic Financial Management, Revised and Enlarged Edition (Vikas Publishing House, Delhi), Finance Made Simple, coauthored with Manjiri G. Jakhotiya, (Jakhotiya & Associates, Mumbai), Portfolio Management: Scope for Management Accountants(ACAI, Delhi), Glossary in Management Accounting(ACAI), and Strategic Management Accounting(ICAI).

Dr. Jakhotiya can be contacted by e-mail at girishjakhotiya@gmail.com or readers may visit his website (www.jakhotiya.com).

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS053000
BUSINESS & ECONOMICS / Quality Control
TEC020000
TECHNOLOGY & ENGINEERING / Manufacturing