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SMO Series: Strategic Management Office (SMO) Primer

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http://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393

The Strategy Management Office (SMO), also referred sometimes as the Office of Strategy Management (OSM), is the team responsible for managing the Corporate Strategy of the organization.

The ultimate role to execute Strategy lies with the line managers and employees, but without a core command and coordination office (i.e. the SMO), Strategy is either skipped from key processes or the processes are ineffectual across business units, causing poor Strategy execution.

This presentation is the first in a series of 3. It provides and overview and background to the Strategy Management Office concept.

This presentation is divided into 3 core sections:

1. Current state of Strategy Management – the current Strategy Management is very fragmented

2. Emerging Strategy Management Office – provides background to the Balanced Scorecard (BSC) and how that translates to the SMO

3. Strategy Management Office – delineates the 9 key Strategy Management processes, roles & responsibilities, strategy integration & alignment

This deck also includes for you to use in your own business presentations.

Got a question about the product? Email us at flevypro@flevy.com. If you cannot view the preview above this document description, go here to view the large preview instead.

Source: SMO Series: Strategic Management Office (SMO) Primer PowerPoint document

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SMO Series: Strategic Management Office (SMO) Primer

  1. 1. This is an exclusive document to the FlevyPro community - http://flevy.com/pro Framework Primer SMO Series: Strategic Management Office (SMO) Primer Scorecard Manageme nt Organizatio n Alignment Strategy Reviews Best Practice Sharing Strategic Planning Workforce Alignment Strategy Communi- cation Initiative Manageme nt Planning/ Budgeting Strategy Management 1 2 3 4 5 67 8 9
  2. 2. 2This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Current State of Strategy Management Emerging Strategy Management Office Strategy Management Office Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  3. 3. 3This document is an exclusive document available to FlevyPro members - http://flevy.com/pro This presentation provides an overview and background to the Strategy Management Office (SMO) Presentation Overview There are reported Strategy implementation failure rates that hover around 60-90%— companies set Strategic Plans with specific targets but few achieve them. The Strategy Management Office (SMO), also referred sometimes as the Office of Strategy Management (OSM), is the team responsible for managing the Corporate Strategy of the organization. The ultimate role to execute Strategy lies with the line managers and employees, but without a core command and coordination office (i.e. the SMO), Strategy is either skipped from key processes or the processes are ineffectual across business units, causing poor Strategy execution. This presentation is the first in a series of 3. It provides and overview and background to the Strategy Management Office concept. This presentation is divided into 3 core sections: • Current state of Strategy Management – the current Strategy Management is very fragmented • Emerging Strategy Management Office – provides background to the Balanced Scorecard (BSC) and how that translates to the SMO • Strategy Management Office – delineates the 9 key Strategy Management processes, roles & responsibilities, strategy integration & alignment This deck also includes for you to use in your own business presentations. 1 2 3 The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  4. 4. 4This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Current State of Strategy Management Emerging Strategy Management Office Strategy Management Office Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  5. 5. 5This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Strategy implementation necessitates synchronized efforts by different executive groups Current State of Strategy Management – Calendar Successful companies align their key management processes for effective Strategy execution. Devising and effectively implementing Strategy is not as simple as it sounds. There are reported Strategy implementation failure rates that hover around 60%-90%. Companies set Strategic Plans with specific targets but few achieve them. However, many organizations have been seen achieving performance growth by placing the Balanced Scorecard (BSC) at the core of their Strategy Management System. Source: Creating the Office of Strategy Management, Kaplan, Norton, 2005 Strategic manage- ment process Enterprise strategy planning Business unit strategic planning Financial planning Management control & learning Annual Cycle Q1 Q2 Q3 Q4 Workforce planning Strategy update Clarify vision Update strategy Operating and support unit strategies Support unit leaders HR Corporate communications Chief knowledge officer 67% of HR and IT organizations are not aligned with strategy 60% do not link budgets to strategy 70% of middle managers do not have incentive compensation linked to strategy 95% of the typical work- force does not understand the strategy Budgeting Budgets Initiatives IT HR Human Resource Processes Personal goals Incentives Personal development Monthly Management Reviews Communication Knowledge Sharing 85% of executive teams spend less than one hour per month discussion strategy CFO CEO/Executive team LOB leaders No consistent way to describe strategy The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  6. 6. 6This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The high failure rate for Strategy execution is attributed to scattered and uncoordinated Strategy Management processes Current State of Strategy Management – Fragmented Processes The Internal Communications team does not inform the employees about the business unit and Corporate Strategy, which is a hurdle in implementing it. The Strategy process, at some companies, commences haphazardly in the middle of the fiscal year by the Strategic Planning department. The Strategic Planning process is typically performed by coordinating a meeting at an off- site location for the top team, doing a SWOT analysis in view of the changing circumstances and the information gathered since the last yearly Strategy gathering. These planning sessions are useful yet lack a clear and pragmatic framework to share the updated Strategy across the board. Individual departments issue their own annual Strategic Plans, and their strategies are hardly shared by the Corporate Strategy with other units. There is hardly any alignment between the various units and corporate strategies. The departmental plans do not aid corporate or business unit strategic initiatives. The Finance team’s annual budgeting process at year end is typically unapprised by the Strategic Plan; as most firms do not link their financial budgets to strategic priorities. Likewise, the Human Resources unit conducts annual performance reviews for all employees at the year end, but most of the managers and front-line people do not have rewards tied to successful Strategy implementation. Senior executives meet at least once a month during a year to review progress and initiate actions, but always get engaged in tactical issues and fire-fighting. Many leadership teams report spending less than an hour per month discussing their unit’s Strategy. The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  7. 7. 7This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Current State of Strategy Management Emerging Strategy Management Office Strategy Management Office Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  8. 8. 8This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Strategy Management processes can be better managed using the Balanced Scorecard (BSC) framework Emerging Strategy Management Office (SMO) – Balanced Scorecard (BSC) For more information on the Balanced Scorecard, take a look at these documents: https://flevy.com/pro/library/tag=25 Many organizations use the Balanced Scorecard (BSC) framework as a foundation to an integrated and iterative strategic management system. 1. Clarify and update the overall corporate strategy 2. Communicate strategy throughout the company 3. Align departmental and individual goals with the strategy 4. Link strategic objectives to long-term targets and annual budgets 5. Identify and align strategies initiatives 6. Conduct periodic performance reviews to learn about and improve strategy Companies should use the Balanced Scorecard as a foundation to an integrated and iterative strategic management system to perform the following functions: The BSC provides a framework for managing the implementation of strategy, while also allowing the strategy itself to evolve in response to changes in the company’s competitive, market, and technological environments. The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  9. 9. 9This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Balanced scorecard measures the organization’s performance against 4 perspectives—Finance, Customers, Learning, and Internal Processes Emerging SMO – 4 Perspectives of the BSC BSC focuses on 4 perspectives—Finance, Customers, Learning & Development, and Internal Processes. This approach provides a “balanced” view of measuring and managing the organization, instead one purely focused on financial metric. Activity In which processes do we need to excel? Internal Processes Target Strategic target KPI Activity Target What do we want to achieve in finance? Finance Strategic target KPI Target Activity How can we remain flexible and able to improve? Learning & Development Strategic target KPI How can we satisfy our customers’ needs? Customers TargetActivity Strat.target KPI Strategy and Vision The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  10. 10. 10This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Dynamic companies modify their management processes in line with Strategy execution and promote the BSC team into a dedicated SMO Emerging SMO – Overview The executive team needs to follow up after every Strategy meeting to ensure that the required actions are communicated and acted upon. Implementation of BSC is generally seen as a project in itself that has to be managed by a multi-departmental project team. After the development of scorecards for the firm and its business units, the project team lead assumes a title—such as Vice President, Balanced Scorecard—supervises timely reporting of scorecard measures, and responds to any queries about the scorecard. This concludes the BSC project for many companies. With the new measurement system in place, they miss out on modifying their management processes to benefit from it. Dynamic firms transform their core management processes to integrate with Strategy execution, and shift their Balanced Scorecard project team into a corporate-level Strategy Management Office (SMO). The creation of the SMO identifies the gaps in most companies’ management structures. A few organizations have an office dedicated to manage Strategy. The ultimate role to execute Strategy lies with the line managers and employees, but without a core command and coordination office, Strategy is either skipped from key processes or the processes are ineffectual across business units, causing poor Strategy execution. Forward-looking organizations have successfully experimented with the development and execution of SMO. Their SMO and senior management translate the Strategy into a Balanced Scorecard, assist business units create local scorecards, and align them with corporate objectives. Then they work on data gathering and reporting processes for the scorecard, communicate the new Strategy to all people, keeping the CEO regularly briefed on the issues (exposed by the scorecard) needing action. The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  11. 11. 11This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Current State of Strategy Management Emerging Strategy Management Office Strategy Management Office Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  12. 12. 12This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Successful BSC operators have recognized 9 cross-functional processes that should be run by the Strategy Management Office SMO – 9 Key Strategy Management Processes The core processes that naturally belong to the SMO can be initiated without invading other departments’ work, because they did not exist prior to the Balanced Scorecard. There are 9 key Strategy Management Processes, categorized under 3 groups: Scorecard Management Organization Alignment Strategy Reviews Best Practice Sharing Strategic Planning Workforce Alignment Strategy Communi- cation Initiative Management Planning/ Budgeting Strategy Management 1 2 3 4 5 67 8 9 Desirable SMO Processes Integrative Processes Core Processes Source: Creating the Office of Strategy Management, Kaplan, Norton, 2005 The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  13. 13. 13This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The desirable SMO processes already exist—by increasing the role of the SMO, these processes become more tightly linked to Strategy execution SMO – Roles and Responsibilities For more details on the 9 strategy management processes, refer to this framework: https://flevy.com/browse/flevypro/smo-series-strategy-management-processes-3394 The Desirable SMO processes are performed by existing organizational units. These processes should eventually be incorporated into a central organization with strategic focus. The integrative processes fall under the natural domain of other functions where the SMO plays a coordinating role, ensuring that the processes are closely incorporated with the enterprise Strategy. The chart below delineates whether SMO should or should not run each of the 9 key Strategy Management processes. Source: Creating the Office of Strategy Management, Kaplan, Norton, 2005 Scorecard Management – Design and report on the BSC measures 2 Organization Alignment – Ensure all business and support units are aligned with the strategy 1 3 Strategy Reviews – Shape the agenda for management strategy review and learning meetings Strategic Planning – Help the CEO and executive team formulate and adapt the strategy 5 Strategy Communication – Communicate and educate employees about the strategy 4 6 Initiative Management – Identify and oversee management of strategic initiatives Planning/Budgeting – Link financial, human resources, information technology, and marketing to strategy 8 Workforce Alignment – Ensure all employee’s goals, incentives and development plans link to strategy 7 9 Best Practice sharing – Facilitate a process to identify and share best practices Strategy management process SMO Role CFO, HRO, CIO, CMO HRO CKO Key SMO must run the process SMO should run the process X SMO integrates strategy to a process run by someone else (X) CFO: Chief Financial Officer HRO: Human Resource Officer CIO: Chief Information Officer CMO: Chief Marketing Officer CKO: Chief Knowledge Officer Core Roles Desirable Roles Inte- grative Roles The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  14. 14. 14This document is an exclusive document available to FlevyPro members - http://flevy.com/pro The Strategy Management Office has a pivotal role in achieving integration and alignment SMO – Strategy Integration and Alignment Due to SMO’s coordination, previously incongruent, disarranged, or missing management processes are performed in an integrated fashion to deliver tangible results. The SMO is responsible to ensure that all management processes are cohesive and are in perfect alignment with the Strategy. Enterprise strategy planning Organization planning Strategic manage- ment process Management control & learning Workforce planning CEO/Executive Team Annual Cycle Q2 Q3 Q4 Financial planning Planning/Budgeting Budgets Plans Initiatives Finance IT HR Employee alignment Personal goals Employee incentives Personal development Develop business and support unit scorecards Align the organization Corporate and business units aligned Business and support units aligned Board of Directors aligned Q1 Strategy reviews Initiative management Best practice sharing Strategy communication Review and update strategy Clarify vision Develop the corporate scorecard/ strategy map Define corporate strategy BSC Team Projects LOB Leaders Support Unit Leaders CFO, HRO, CIO, CMO HR Chief Knowledge Officer Corporate Communication 4 1 2 1 7 8 3 6 9 5 The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  15. 15. 15This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Contents Overview Current State of Strategy Management Emerging Strategy Management Office Strategy Management Office Templates The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  16. 16. 16This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Insert headline 9 Key Strategy Management Processes – TEMPLATE Insert bumper. Scorecard Management Organization Alignment Strategy Reviews Best Practice Sharing Strategic Planning Workforce Alignment Strategy Communi- cation Initiative Management Planning/ Budgeting Strategy Management 1 2 3 4 5 67 8 9 Desirable SMO Processes Integrative Processes Core Processes Source: Creating the Office of Strategy Management, Kaplan, Norton, 2005 The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  17. 17. 17This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Insert headline Balanced Scorecard – TEMPLATE Activity In which processes do we need to excel? Internal Processes Target Strategic target KPI Activity Target What do we want to achieve in finance? Finance Strategic target KPI Target Activity How can we remain flexible and able to improve? Learning & DevelopmentStrategic target KPI How can we satisfy our customers’ needs? Customers TargetActivity Strat.target KPI Strategy and Vision Insert bumper. The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  18. 18. 18This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Insert headline Strategy Management Calendar – TEMPLATE Insert bumper. Source: Creating the Office of Strategy Management, Kaplan, Norton, 2005 Annual Cycle Q1 Q2 Q3 Q4 Strategic management process Enterprise strategy planning Business unit strategic planning Financial planning Management control & learning Workforce planningThe content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  19. 19. 19This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Download 100s of similar frameworks from the FlevyPro Library: https://flevy.com/pro/library/frameworks The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  20. 20. 20This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Need more frameworks? Download our Complete Business Frameworks Reference Guide, a 350+ slide compilation of 50+ frameworks, on Flevy The Complete Business Frameworks Reference Guide is a best selling document on Flevy. It is 350+ slides--covering 50+ common management consulting frameworks and methodologies. A summary is provided for each business framework. The frameworks in this deck span across Corporate Strategy, Sales, Marketing, Operations, Organization, Change Management, and Finance. This reference guide is great for those who need a refresher on common frameworks, as well as be introduced and learn new useful frameworks. You can find this document here; http://flevy.com/browse/business-document/complete- consulting-frameworks-toolkit-644 The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  21. 21. 21This document is an exclusive document available to FlevyPro members - http://flevy.com/pro Flevy (www.flevy.com) is the marketplace for premium documents. These documents can range from Business Frameworks to Financial Models to PowerPoint Templates. Flevy was founded under the principle that companies waste a lot of time and money recreating the same foundational business documents. Our vision is for Flevy to become a comprehensive knowledge base of business documents. All organizations, from startups to large enterprises, can use Flevy— whether it's to jumpstart projects, to find reference or comparison materials, or just to learn. Contact Us Please contact us with any questions you may have about our company. • General Inquiries support@flevy.com • Media/PR press@flevy.com • Billing billing@flevy.com The content on this page has been partially hidden. FlevyPro members can download the full document here: https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393
  22. 22. 1 Flevy (www.flevy.com) is the marketplace for premium documents. These documents can range from Business Frameworks to Financial Models to PowerPoint Templates. Flevy was founded under the principle that companies waste a lot of time and money recreating the same foundational business documents. Our vision is for Flevy to become a comprehensive knowledge base of business documents. All organizations, from startups to large enterprises, can use Flevy— whether it's to jumpstart projects, to find reference or comparison materials, or just to learn. Contact Us Please contact us with any questions you may have about our company. • General Inquiries support@flevy.com • Media/PR press@flevy.com • Billing billing@flevy.com

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More Information: http://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-primer-3393 The Strategy Management Office (SMO), also referred sometimes as the Office of Strategy Management (OSM), is the team responsible for managing the Corporate Strategy of the organization. The ultimate role to execute Strategy lies with the line managers and employees, but without a core command and coordination office (i.e. the SMO), Strategy is either skipped from key processes or the processes are ineffectual across business units, causing poor Strategy execution. This presentation is the first in a series of 3. It provides and overview and background to the Strategy Management Office concept. This presentation is divided into 3 core sections: 1. Current state of Strategy Management – the current Strategy Management is very fragmented 2. Emerging Strategy Management Office – provides background to the Balanced Scorecard (BSC) and how that translates to the SMO 3. Strategy Management Office – delineates the 9 key Strategy Management processes, roles & responsibilities, strategy integration & alignment This deck also includes for you to use in your own business presentations. Got a question about the product? Email us at flevypro@flevy.com. If you cannot view the preview above this document description, go here to view the large preview instead. Source: SMO Series: Strategic Management Office (SMO) Primer PowerPoint document ABOUT FLEVYPRO FlevyPro is a subscription service for on-demand business frameworks and analysis tools. FlevyPro subscribers receive access to an exclusive library of curated business documents—business framework primers, presentation templates, Lean Six Sigma tools, and more—among other exclusive benefits.

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