Strategic Management in the Private Sector

Topics: Strategic management, Management, Strategic planning Pages: 28 (7318 words) Published: December 16, 2012
Strategic Management in the Private Sector
Improving organisational intelligence

1800 671 978 | Solutions@TechnologyOneCorp.com | www.TechnologyOneCorp.com

STraTegiC ManageMenT in The PriVaTe SeCTOr

About TechnologyOne Corporation
TechnologyOne is a leading enterprise software solutions provider with offices in each State and Territory of australia, new Zealand, Malaysia and the United Kingdom. For more than twenty years they have been providing comprehensive and deeply integrated enterprise software solutions used by business, government, health and community services, education, financial services and the utilities sectors.

Executive summary
executives and managers are under increasing pressure worldwide to improve profits of their organisations, while simultaneously improving outcomes and outputs. Facing profoundly uncertain times executives must, more than ever, ensure the organisation is poised to act and react to market forces – for future slowdown or intense activity. The challenge of dealing with uncertainty is vitally important, considering more variables and involving more stakeholders, with a greater emphasis on measurement for fine-tuning decision making. The key to this is a robust strategic management plan. To meet these considerable challenges, organisations must revisit their strategic management processes and measurement systems. There are innumerable strategic management frameworks available for use in the private sector, but the challenge is finding one that allows for scenario planning, intensive monitoring and a long-term outlook. This framework should encompass corporate performance management, the strategic use of business intelligence to communicate and monitor strategy. So how do organisations gain a better understanding of contemporary strategic management, and what should the management framework look like? What measures are appropriate within organisations and what tools are available to assist? how do organisations go beyond analytics to have conversations around the outcomes of their strategy? What does the future hold for strategy and measurement within the private sector? in this white paper, TechnologyOne presents the answers to many of these critical issues providing an understanding of contemporary thinking in strategic management and its critical importance in the private sector. it offers a strategic management process tailored to private sector organisations together with two strategic management plan templates. The paper also reviews the increasing importance of corporate performance management tools that can feed back into the strategic plan, and which are capable of measuring both financial and non-financial data. it contemplates the future direction of strategic management and corporate performance management solutions. Overall, this paper offers executives and managers a comprehensive appreciation of the importance of analytics. Yet rather than using past performance as an indicator of future outcomes it goes further, highlighting the new world of accounting for words and illustrating ways to improve organisational intelligence.

1800 671 978 Solutions@TechnologyOneCorp.com www.TechnologyOneCorp.com

Page 2

TeChnOlOgYOnE WhiTe PaPer

Contents
Introduction...........................................................................................................................................4 . Strategic.challenges.in.the.private.sector...................................................................................5 Strategic.management.system.......................................................................................................6 Stage.1..Develop.the.strategy...................................................................................................6 Initial.agreement.....................................................................................................................................................6...

Bibliography: D. aaker, Developing Business Strategies, 6th edition, Wiley and Sons, new York, 2001. M. Barber, a. levy and l. Mendonca, Global trends affecting the public sector, McKinsey and Company, June 2007 W. Chan Kim and r. Mauborgne, Blue Ocean Strategy, harvard Business review, October 2004. n. Chandler, Corporate Performance Management must move beyond Finance, gartner resarch, 11 november 2009, iD number g00171616 S. Clarke, Information Systems Strategic Management: An Integrated Approach, routledge, 2007. g. Cokins, Performance Management: Finding the Missing Pieces to Close the Intelligence Gap, John Wiley & Sons, new Jersey, 2004. T. Davenport and J. harris, Competing on Analytics, harvard Business School Press, Boston Massachusetts, 2007. harvard Business essentials, Strategy: Create and Implement the Best Strategy for your Business, harvard Business School Press, Boston, Massachusetts, 2005. C. hill, g. Jones, P. galvin and a. haidar, Strategic Management: An Integrated Approach 2nd Edition, Wiley, houghton Mifflin Company, Boston, 2007. r. Kaplan and D. norton, The Execution Premium: Linking Strategy to Options for Competitive Advantage, harvard Business School Press, Boston, 2008. r. Kaplan & D. norton, Strategy Maps, harvard Business School Press, Boston, 2004, p31. r. Kaplan and D. norton, Using Balanced Scorecard as a Strategic Management System, harvard Business review, July-august 2007. r. Paladino, Balanced Forecasts Drive Value, Strategic Finance, Montvale January 2005, Volume 86, issue 7. a-W. Sheer, W. Jost and a. Kronz, Corporate Performance Management – ARIS in Practice, Springer-Verlag Berlin and heidelberg gmbh and Co. Kg, 1 January 2006.
1800 671 978 Solutions@TechnologyOneCorp.com www.TechnologyOneCorp.com
For further information visit www.TechnologyOneCorp.com.au or call us on 1800 671 978 or international +61 7 3167 7300
WP001
27 B. Marr, Managing and Delivering Performance: How government, public sector and not-for-profit organizations can measure and manage what really matters, Elsevier Ltd., Oxford, 2008, p209.
Page 16
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Strategic Management
  • Strategic Management Essay
  • Strategic Management Essay
  • Strategic Management Essay
  • Strategic Management Essay
  • Strategic Management Essay
  • Strategic management Essay
  • Essay on Strategic management

Become a StudyMode Member

Sign Up - It's Free