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Strategic planning must change with the times

N2Growth Blog

Whether they’re developed in-house or brought in by outside strategy firms, many strategy methodologies are of little value if they don’t keep up with the times. Clearly, it’s time to reconsider how your organization goes about developing and executing strategy at all levels. Time to Results: As the saying goes, speed kills.

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The Big Picture of Business – Business Success Checklist

Strategy Driven

Development of technical abilities, specialties and expertise. Development of core business supplier relationships. Top management has as a priority the need to develop and practice People development, skills and team building responsibilities. Business development. Make investments toward quality controls.

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The Big Picture of Business – Quality is Important for Business: Real Quality vs. Arbitrary Metrics

Strategy Driven

Educational and incentive programs should be implemented. In order to complete the chain, organizations must insist that suppliers, professional services counselors and vendors show demonstrated quality programs, as well as ethics statements. During tough economic times, investment in a quality program is not costly.

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How to Tie Executive Compensation to Sustainability

Harvard Business Review

The dilemma for directors, however, is determining what aspects of sustainability, or ESG performance, should have priority — and should be linked to pay incentives. The UN, for example, has outlined 17 broad Sustainable Development Goals for 2030. Progress is measured with 169 targets.

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Pay People to Avoid Risky Behavior

Harvard Business Review

The answer is found in a sound risk management program that trains, equips, monitors, measures and rewards people for avoiding mistakes and making good decisions. I came across the Safeway story while conducting a recent research program on best practices in enterprise risk management. MORE ON MANAGING RISKY BEHAVIORS.

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Bonuses Are Good, But Clawbacks Make Them Better

Harvard Business Review

The controversial action — Britain's Institute of Directors warned of " anti-business hysteria " while Prime Minister David Cameron declared it "the right decision" — invites exactly the sort of "best practice" debate serious business leaders should have about honest compensation and perverse incentives.

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Ten Ways to Inhibit Innovation

Harvard Business Review

We do not have a standard process to nurture the development of new ideas. Incentives are geared towards maximizing today's business and reducing risk. Managers are not trained to be innovation leaders. Managers immediately look for flaws in new ideas rather than tease out their potential.