Implementing Strategy Allocating resources Strategy-supportive policies & procedures Best practices & continuous improvement Support systems Motivation.

Slides:

Advertisements

Similar presentations

Chapter 21 Rewarding Performance Cost Accounting Traditions and Innovations Barfield, Raiborn, Kinney.

Advertisements

1.

The Management Process

Performance Management and Reward in the New World Elizabeth Warren Head of Human Resources and Administration March 2, 2009.

Strategic Value of the HR Function Presentation by

Chapter 11 Attaining Integration for Advantage. Chapter Topics The concept of organizationdesign practices Why organization design practices are crucial.

CHAPTER 11 MANAGING INTERNAL OPERATIONS: ACTIONS THAT PROMOTE GOOD STRATEGY EXECUTION.

McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

The Budgeting Process Managerial Accounting Prepared by Diane Tanner University of North Florida Chapter 37.

1 © The McGraw-Hill Companies, Inc., 1998 Irwin/McGraw-Hill IMPLEMENTING STRATEGY: BUDGETS, POLICIES, BEST PRACTICES, SUPPORT SYSTEMS, AND REWARDS CHAPTER.

Strategy Implementation Building resource capabilities & structuring the organisation (chapter 9) Budgets, policies, best practices, support systems &

Introduction Organizations have a relatively large degree of discretion in deciding how to pay. Each employee’s pay is based upon individual performance,

1-1 McGraw-Hill/Irwin ©2008 The McGraw-Hill Companies, All Rights Reserved Human Resource Management Gaining a Competitive Advantage Chapter 12 Recognizing.

1 © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Copyright CHAPTER 12 Screen graphics created by: Jana F. Kuzmicki, PhD,

Management Control Systems and Responsibility Accounting

Implementing Strategy in Companies That Compete in a Single Industry

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 7 -1 Chapter 7 Implementing Strategies: Management & Operations Issues Strategic.

Copyright © 2005 Pearson Education Canada Inc. Concepts in ﴀﴀﴀﴀ Strategic Management, Canadian Edition Wheelen, Hunger, Wicks 10-1 Chapter 10 Evaluation.

Chapter 8 Managing Internal Operations.

1 McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc., All Rights Reserved. CHAPTER 12 Screen graphics created by: Jana F. Kuzmicki, PhD, Mississippi.

Linking the Budget to Strategy Implementation of a strategy requires  Enough resources to support the strategy  Screening of requests for new capital.

Performance Management Upul Abeyrathne, Dept. of Economics, University of Ruhuna, Matara.

CHAPTER 11 MANAGING INTERNAL OPERATIONS: Actions That Promote Good Strategic Execution McGraw-Hill/Irwin Copyright ®2012 The McGraw-Hill Companies, Inc.

CHAPTER 11 MANAGING INTERNAL OPERATIONS: ACTIONS THAT PROMOTE GOOD STRATEGY EXECUTION.

13 Management Control Systems, The Balanced Scorecard, and Responsibility Accounting.

The BALANCED SCORECARD

Performance Management System (PMS). The major concern for the organization to assess the level of efficiency of the employees working in the organization.

MANAGING INTERNAL OPERATIONS

Chapter 13 Contemporary approaches to measuring and rewarding performance.

Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 20 Strategy, Balanced Scorecards and Incentive Systems.

McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved

Total Strategic Compensation Human Resource Management.

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

PART II – Management Audit: Basic Standards, Values and Norms Shared by Pratap Kumar Pathak.

Reward management is : Development, Implementation, Maintenance, Communication and Evaluation of the reward processes. These processes deal with assessment.

MODULE 10 IMPLEMENTING STRATEGY :

1 © The McGraw-Hill Companies, Inc., 1998 Irwin/McGraw-Hill IMPLEMENTING STRATEGY: BUDGETS, POLICIES, BEST PRACTICES, SUPPORT SYSTEMS, AND REWARDS.

Business Model, Execution, & Corporate Responsibility Measures

McGraw-Hill/Irwin© 2007 The McGraw-Hill Companies, Inc. All rights reserved. 12 Chapter Title 15/e PPT Managing Internal Operations Screen graphics created.

Human Resource Management INCENTIVE COMPENSATION

The Denison Model.

1 Strategy Implementation Payne (8). 2 What is Strategy Implementation? The sum total of the activates and choices required for the execution of a strategic.

Imran Ghaznavi Course Code: MGT557 COMSATS Strategic Human Resource Management.

Ch 7 -1 Module 7 Implementing Strategies: Management & Operations Issues.

Learning outcomes:  Define that nature of management and organizations  State management’s importance, history, environment.  Underline management’s.

1-1 CHAPTER 6 Superior Strategy Execution—Another Path to Competitive Advantage McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All.

Managing the Internal Organization. Managerial Tasks Budget appropriate resources Establish strategy-supportive policies Institute “best practices” and.

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

1-1 Management Execution. 1-2 The Eight Components of Management Execution OrganizationResources Policies & Procedures Continuous Improvement Systems.

Foundations and Evolutions

Actionable Strategies for the Design of a High Performing Organization.

Pay for Performance A strategic approach to design Dermot Hand August 2012.

McGraw-Hill/Irwin Copyright ©2010 The McGraw-Hill Companies, All Rights Reserved. Superior Strategy Execution—Another Path to Competitive Advantage.

17-1 Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall Global Manufacturing and Supply Chain Management.

COMPENSATION SYSTEM. IPMI-HRM-Krishnan Rajendran, 2010 What is Compensation? Employee compensation is the process of paying and rewarding people for the.

McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved Managing Internal Operations 1212 Chapter Screen graphics created by:

Incentive Compensation

1 Eight Components of Strategy Model Submitted to: Mrs. Rutvi Umrigar Presented by: Pooja Jain Soyeb Jindani.

McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 11: Managing Internal Operations: Actions That Promote.

Improving performance: what does “Pay for Performance” have to do with it? FICSA Council Turin 2008.

Chapter 14: Performance Measurement, Balanced Scorecards, and Performance Rewards Cost Accounting: Foundations & Evolutions, 8e Kinney and Raiborn.

Management Compensation and Business Valuation

IT Governance at the SCO

SUPERIOR STRATEGY EXECUTION—ANOTHER PATH TO COMPETITIVE ADVANTAGE

9 Management of Quality.

SUPERIOR STRATEGY EXECUTION—ANOTHER PATH TO COMPETITIVE ADVANTAGE

“If you talk about change but don’t change the reward and recognition system, nothing changes.”

12 Changing role of management Changing role of management

SOME IMPORTANT CONSIDERATIONS AND STEPS

Presentation transcript:

Implementing Strategy Allocating resources Strategy-supportive policies & procedures Best practices & continuous improvement Support systems Motivation & Incentives

Linking Budgets to Strategy Screening requests for resources Allocate to most strategy-critical areas Under & over funding Involvement in setting & administering Shifting resources

Strategy-supportive Policies & Procedures Top-down guidance Alignment with strategy Consistency Up-to-date Strong change lever Clear direction and balance nb

Best Practices & Continuous Improvement Visible commitment organisation-wide Encourage TQ-supportive behaviour Communications - information & knowledge mgt TQM - teamwork, empowerment, benchmarking, customer service orientation, zero defects Reengineering & Continuous improvement ‘kaizen’

Support Systems Strengthens capabilities - faster responses - improved decisions - better co-ordination - more & better information Facilitates implementation

Strategy-supportive Reward Systems Understand what motivates people Build commitment Monetary and non-monetary Balance degree of competition Link rewards to strategically relevant performance outcomes

Guidelines for Reward Systems Performance payoff > 10% base salary Incentive plans for all Administered efficiently and fairly Linked to objectives of strategic plan Ability to reach targets Use of non-monetary rewards too Don’t reward non-performers Proper communication of incentives

Intel: Performance Related Reward 1996: Revenues $20.8b; Net income $5.2b $820m bonus to 50,000 employees –27 days extra pay (11% of salary).c. £8000 per employee in Leixlip –Stock options –Pension top up to 12.5% –1% for every % that divisional target was exceeded Source: Irish Independent 13th Feb 1997

Support Systems Resource Allocation Work Definition Performance Measurement Reward