Organizations that execute a wise strategy succeed; others are executed in the market. Many organizations invest significant time in strategic planning but fall short when it comes to execution. According to McKinsey, most fail to properly execute their strategy. This session explores the critical transition from strategy to performance while challenging outdated planning models and myths. We often don't think of strategy in the same context of longer-term organizational projects, like ERP transitions or risk management. Why should you consider "killing" your current plan and building a new plan centered around financial performance? We'll dive into the reasons strategies fail, uncover the practical tools for bridging the planning-performance gap, and explore how strong financial integration enables strategy to succeed. We will review what works and what must be stopped immediately.
Learning Objectives
After attending this presentation, you will be able to...
- Analyze how and why most strategic plans fail.
- Assess multiple possible solutions to execute a sound strategy.
- Create a strategy that includes risk management.
Major Topics
The major topics that will be covered in this course include:
- The strategy-execution gap; common reasons why most strategic plans fail
- Why should financial planning lead strategy?
- Evaluating the lifespan and relevance of your strategic plan
- Building your strategy to include risk management
- Building an adaptive, finance-focused strategic approach
- What we should learn from the rise and fall of major companies
- How to align financial metrics with strategy
