Smart Management Reporting: Maximizing Business Performance

• Chapter 0 - Overview
  • Course Objectives
  • Workshop Roles
  • Self-Assessment #1: Are You Ready?
    • Instructions
    • Answer Key
    • What This Course Is Really All About
  • The Overall Strategy for Developing a World-Class Reporting System
  • The Quick and Dirty Business Performance Measurement Plan
• Chapter 1 - The Necessity for World-Class Reporting
  • Learning Objectives
  • Summary—The Rapidly Changing World of the Accounting Leader
  • Listen to the Experts
  • The Pain in Internal Accounting Today
  • The Solution to These Pains and the Change
  • Managing the Information Flow
  • Part of the Team—But Apart
  • Strategic Changes to the Finance Role
  • The Importance of Communication
  • The Profession's Call for Change
    • Qualities of World-Class Reports
    • Avoiding the ‘What have you done for me lately?' Syndrome
    • Hackett's Benchmarks of World-Class Accounting
  • Self-Assessment #2: How Fast Are You?
  • Best Practice: Implement a Business Performance Measuring Program
    • A Balanced Reporting Requirement
    • Business Performance Management Defined
    • The New Paradigm of Generating Bottom-Line Results
    • Report Using the Scorecard Method
    • How to Move to World-Class Reporting
    • Tailoring the Reports
    • Implementing Performance Measurement Software
    • Culture Implications
    • Software Selection Questions
  • In the End
  • Questions and Application Steps
• Chapter 2 - Pre-Step: Address Cultural Readiness
  • Learning Objectives
  • Summary—The Story You Tell
  • Self-Assessment #3: Do You Have These?
    • Answer Key
  • Culture Aspect of Performance Management
    • Your Culture Mosaic
    • Core Mosaic Piece
    • Cultures Change
    • Visible Clues about Risk in Your Culture Norms
    • Culture Principles 1 through 4
    • Morale Is Vital in Managing Performance
    • Culture Must Never Be Downplayed
    • The Human Element in Performance
    • Corporate Culture's Impact on BPM
    • Expect Resistance
    • Dealing with Cultural Resistance
    • Top 10½ Performance Measuring Pitfalls
  • Case Study #1: Analyzing Mosaic Pieces
  • In the End
    • Principles 1 through 4 of Goal-Setting Metrics
  • Questions and Application Steps
• Chapter 3 - Pre-Step: Address Employee Performance
  • Learning Objectives
  • Summary—Are Employee Behaviors Adding Value?
  • Self-Assessment #4: What is Performance?
    • Employee Performance Principle 1
    • Will Anything Change?
  • Best Practice: Develop a Human Capital Strategic Plan
  • Self-Assessment #5: Can You Say How Much?
    • Improving the Strategy Chances for Success
    • Human Capital's Importance
    • The Actual Plan
    • Optimizing Your Human Assets
    • Your Opportunity to Grow Bankable Assets
    • In Essence
  • Best Practice: Increase the ROI in Your Human Capital
    • Difficult to Measure?
    • Human Performance Drivers
    • Human Capital Measurement Tools
    • Tracking Human and Intellectual Capital Performance Metrics
    • Better Measurements to Define ROI
    • Analytical Tools for Measuring Human Capital
    • Measuring the Return on Your Investment
    • In Essence
  • Case Study #2: Raelco Service Center
  • Best Practice: Measure People's Effectiveness and Productivity
    • Goals of Applying Metrics to Employee Performance
    • Reasons for Using Employee Performance Metrics
    • Raising the Performance Bar
    • Key Driver of Employee Commitment to Excellence
    • Link between Performance and Knowledge
    • Contributors to Employee Performance
    • How to Use Performance Metrics in Employee Performance
    • Using Ranked Performance Metrics
    • In Essence
  • Case Study #3: Raelco's Accounting Metrics
  • Best Practice: Base Employee Compensation on Competence
    • Employee Compensation
    • Shake Up Your Pay Paradigm
    • Culture Implications of Compensation
    • Compensation's Message
    • Employee Competency Defined
    • Need More Proof?
    • Gap Analysis of Competencies
    • Challenges of Pay Based on Competencies
    • In Essence
    • Employee Performance Principles 2 through 12
    • 10½ Common Mistakes of Employee Performance Measuring
  • In the End
  • Questions and Application Steps
    • Best Practice: Develop a Human Capital Strategic Plan
    • Best Practice: Increase ROI in Your Human Capital
    • Best Practice: Measure People's Effectiveness and Productivity
    • Best Practice: Base Employee Compensation on Competence
• Chapter 4 - Case Study Setup
• Learning Objectives
• Summary—Meet Raelco and Kristian
• Questions and Application Step
• Chapter 5 - Step 1: Measure Your Strategy
  • Learning Objectives
  • Summary—Measure What is Important
  • Performance Measuring Principle 1
  • High Failure Rate
  • Why Companies Fail to Implement Their Business Strategies
  • Case Study #4: Kandu Condo Managers
    • Measuring Kandu's Performance?
    • Drivers of an "Information Business"
    • Avoid the Controller Kiss of Death
    • Accounting's Best Measuring Methods
    • How to Strategize for Success in This Information Age
    • Important Terminology
  • Business Performance Management Defined
    • Performance Management
    • Key Performance Indicator Defined
    • Criteria of a Key Performance Indicator
    • In Essence
  • Case Study #5: Costco's Return on Equity
    • Return on Equity (DuPont Analysis)
  • Best Practice: Define Your Global Strategies and Select KPIs
    • Types of Global Organizational Strategies
    • Charting the Four Types
    • How to Use this Chart
    • Global Strategies Change over Time
  • Self-Assessment #6: What's Your Strategy?
    • The CFO's Tools
    • Adopt Business Performance Management
    • Install a Stakeholder Value System
    • Using Performance Management to Make Optimal Decisions
    • External Data in BPM
    • Optimizing Metrics
    • Using BPM in Scenario Planning
    • In Essence
  • Best Practice: Link the Vision into a Strategy
    • Organizational Alignment
    • Ideology
    • Type of Success
    • What Operational Alignment Looks Like
    • Turning Strategy into Action
    • Meaning and Usage of the Graphic
    • The Importance of Your Strategy
    • In Essence
  • Best Practice: Connect Your Strategy to Profits
    • Connecting Your Strategy to Profits
    • What Happens When Employees Do Not Understand
    • What Happens When Employees Understand
    • Leaders Must Show the Way
    • Performance Measuring Creates Value
    • Actions that Connect Strategy to Profits
    • The Conversion Process
    • Strategy Also Impacts Your Marketing Affects
    • In Essence
  • Case Study #6: Raelco's Connection Process
    • Raelco's Vision and Mission
    • Raelco's Controller
    • The Strategy
    • The Success Factor
    • The Performance Metrics
    • The Incentives and Rewards
    • Performance Measuring Principles 1 through 5
    • Performance Strategy Principles 1 through 6
  • In the End
  • Questions and Application Steps
    • Best Practice: Define Your Global Strategies and Select KPIs
    • Best Practice: Link the Vision into a Strategy
    • Best Practice: Connect Your Strategy to Profits
• Chapter 6 - Step 2: Measure Your Performance Better
  • Learning Objectives
  • Summary—Too Many Metrics to Choose From
  • Lessons from the HH Test
  • CFO's Responsibility in Measuring Performance
  • Culture Resistance to Implementing a Performance Measuring System
  • Best Practice: Use Performance Metrics to Drive Change
    • Performance Metrics
    • How a PM Works
    • CFO's Goals for Using Performance Measures
    • Necessary Components for Using PMs
    • Effective and Reliable Metrics
    • Metrics—Objective vs. Subjective
    • Classes of Performance Measures
    • Right Metric Mix
    • Purposeful Performance Metrics
    • Categories of Performance Metrics used as KPIs
    • How to Make Performance Measures Work
    • In Essence
  • Case Study #7: Solectron
    • Solectron's Customer Scorecard
  • Best Practice: Find Critical Success Factors that Explain Your Strategy
    • Critical Success Factor
    • Accounting's Role
    • Payoffs of Measuring Your Critical Success Factors
    • Performance Drivers that Help Define Critical Success Factors
    • In Essence
  • Best Practice: Use the Cascading Linkage Process
    • How to Ensure Employees Stay Focused
    • How the Cascading Process Works
    • Metrics for Revenue
    • In Essence
  • Case Study #8: Men's Wearhouse
    • The Men's Wearhouse: Success in a Declining Industry
  • Case Study #9: Raelco's Metrics to Ensure Change Takes Place
    • What Is Required
    • Area 1 - Employees
    • Area 2 - Customers
    • Area 3 - Managers
    • Area 4 - Leaders (Executives and Senior Managers)
    • Area 5 - Accounting
  • Best Practice: Benchmark Your Efforts
    • Benchmarking
    • CFO's Mistake
    • Locating Benchmarking Metrics
    • Signs that a Benchmarking Initiative Is in Trouble
    • Top Pitfalls of Benchmarking
    • Performance Measures Principles 1 through 10
    • Performance Measure Principles 11 through 20
  • In the End
  • Questions and Application Steps
    • Best Practice: Use Performance Metrics to Drive Change
    • Best Practice: Find Critical Success Factors that Explain Your Strategy
    • Best Practice: Use the Cascading Linkage Process
    • Best Practice: Benchmark Your Efforts
• Chapter 7 - Step 3: Align Your Measurements
  • Learning Objectives
  • Summary—The Next Step is Challenging
  • Performance Alignment Principles 1 through 3
  • Best Practice: Link Measurements with Specific Rewards
    • Pay for Performance
    • Cultural Implications of Rewards
    • Cascade Linkage Process Reminder
    • Employee Resistance to Step Three
    • What Happens If Leaders Don't Buy In
    • In Essence
  • Case Study #10: Raelco Accounting's Scorecard
    • Darcy's Evaluation
    • Darcy's Action Plan
    • Sources of Errors
    • Scorecard Metrics
    • Data Sources for Scorecard
    • Incentives Tied to the Scorecard
  • Best Practice: Create Linkage with the Rule of 80/20
    • Pareto's Principle - 80/20 Rule - The "Vital Few and Trivial Many" Rule
    • Visual Look at the 80/20 Principle
    • Do Not Tackle Everything with Equal Effort
    • Alignment Using 80/20
  • Self-Assessment #7: Your Own 80/20
    • Practical Applications of the Rule of 80/20
    • The Rule of 80/20 Leads to a New Business Model
    • Tips on Linking with the 80/20 Principles
    • Examples of the 80/20 Rule in Action
    • In Essence
    • In the End
  • Case Study #11: Raelco's Linkages
  • Case Study #12: Raelco's Profitability Analysis Using 80/20
    • Raelco Distribution
  • In the End
  • Questions and Application Steps
    • Best Practice: Link Measurements with Specific Rewards
    • Best Practice: Create Linkage with the Rule of 80/20
• Chapter 8 - Step 4: Give Insightful Performance Feedback
  • Learning Objectives
  • Summary—The Power of Performance Feedback
  • Self-Assessment #8: What Feedback Do You Provide?
    • Involving the Front Line
    • Looking in the Mirror
  • Best Practice: Calculate Your Economic Value Added
    • Economic Value Added Defined
    • EVA Formula
    • Ways the CFO Can Add Value
    • EVA's Limitations
    • Capitalizing on EVA
    • In Essence
    • Comparison of Economic Value Added to the Balanced Scorecard
  • Best Practice: Use the Balanced Method for Providing Feedback
  • Self-Assessment #9: Are Your Reports Valued?
    • Need for Balanced Feedback
    • How the Balanced Scorecard Works
    • How to Use the Balanced Scorecard in Your Feedback Reports
    • Balanced Scorecard Nuts and Bolts
    • CFO's Goals of the Balanced Scorecard
    • Payoffs of Using the Balanced Scorecard Approach
    • Why the Balanced Scorecard is Effective
    • Minimum Requirements for a Scorecard
    • Incentives in the Scorecard Approach
    • It Is Actually Done!
    • Overall Process for Implementing the Balanced Scorecard
    • Additional Scorecard Perspectives
    • In Essence
  • Self-Assessment #10: Your Own Scorecard
  • Best Practice: Get Outside Feedback for Metrics
    • Feedback from the Outside
    • It's the Small Things
    • Feedback Tool
  • Case Study #13: Havok's Unaligned Metrics
  • Case Study #14: Raelco Unit Scorecard KPIs
    • What to Do
  • Case Study #15: Your Own Scorecard
    • What to Do
    • Performance Learning Principles 1 through 9
  • In the End
  • Questions and Application Steps
    • Best Practice: Calculate Your Economic Value Added
    • Best Practice: Use the Balanced Method for Providing Feedback
    • Best Practice: Get Outside Feedback for Metrics
• Chapter 9 - Step 5: Revise Your Reporting Methodology
  • Learning Objectives
  • Summary—It's the Hope, Not the Lipstick
  • Source of Employee Resistance
  • Software—The Driver of Your Reporting System
  • Best Practice: Report Faster, Better, and On Target
    • Getting Out Better Information
    • How to Get Your Reports Out Faster
    • Trend Analysis
    • In Essence
  • Best Practice: Use the Reporting Pyramid
  • Action Plan for Measuring Your IT Function
  • In Essence
  • Best Practice: Report Using the Scorecard Approach
    • Balanced Scorecard Strategy
    • Perspectives Explained
    • Four Cornerstones of Implementing the Balanced Scorecard
    • Who Can Use the Scorecarding?
    • Integration of Individual Scorecards
    • Tailoring the Balanced Scorecard
    • Flaw in the Unbalanced Scorecard
    • Accounting Software Uses the Balanced Approach
    • Performance Scorecard Principles 1 through 9
    • In Essence
  • Best Practice: Use a Dashboard Reporting System
    • Digital Scorecard
    • How Dashboards Transform a Culture to Transparency
    • Payoff from Dashboard Reporting
    • Internal and External Data Requirement
    • How to Implement the Dashboard
    • The Power behind the Dashboard
    • In Essence
  • Best Practice: Make Your Budget System Focus on Resources
  • Self-Assessment #11: How is Your Budget?
    • Goals of Forecasting
    • Integrated Business Planning
    • Performance Measures Impact on the Budget
    • Scenario-Based Planning
    • Budgeting Priorities with Metrics
    • In Essence
  • Case Study #16: CEO's Report
    • Scheduled Shipments for the Next 90 Days
    • Net Bookings
    • Average Resale Per Line Item
    • Book-to-Bill
    • Margins Gross and Net
    • Overheads
    • PBIT
    • Capital Employed
    • Cost of Sales Variance
  • Case Study #17: Raelco CFO's Message
    • What Is Required
  • Case Study #18: Develop Your Own Dashboard
  • In the End
  • Questions and Application Steps
    • Best Practice: Report Faster, Better, and on Target
    • Best Practice: Use the Reporting Pyramid
    • Best Practice: Report Using the Scorecard Approach
    • Best Practice: Use a Dashboard Reporting System
    • Best Practice: Make Your Budget System Focus on Resources
• Chapter 10 - Step 5½: Learn Quickly as You Go
  • Learning Objectives
  • Summary—Spurring Action
  • Even the Good Need to Get Better
  • Best Practice: Update Your Scorecard Regularly
    • Evolving Scorecard
    • A Different Perspective
    • The Culture Factor
    • 10 Pages Per Day Mistake
  • Case Study #19: Raelco's Scoreboard Update
    • What is Required
  • Best Practice: Continuously Improve Your Performance
    • BPM and Learning
    • Forecasting Meetings
    • Benefits of a Two-Quarter Rolling Forecast
    • Learning from Others
    • 10½ Common Mistakes of Measuring Performance
    • Learning and Growth PMs
  • Best Practice: Incorporate the Plus/Delta
    • Steps of the Plus/Delta
    • Smaller Organizations Learn Quicker
  • Application Step: Turning Learning into Action
    • To Grow Your Understanding
    • To Gather Ideas
  • Questions and Application Steps
    • Best Practice: Update Your Scorecard Regularly
    • Best Practice: Continuously Improve Your Performance
    • Best Practice: Incorporate the Plus/Delta
• Chapter 11 - Ethics Focus: Business and Industry
  • Ethics Overview
  • Recent Developments
  • Key Ethical Dilemmas
  • Addressing Ethical Dilemmas
  • Available Resources
• Chapter 12 - Latest Developments
• Appendix A - Strategy
  • Production/Service
  • Hiring and Human Resources
  • Opportunities
  • Workforce Education
  • Specific Employee Productivity Measures for Accounting/Finance
  • Financial and Operational Metric: The Gross Margin Return on Receivables (GMROR)
  • Specific Employee Metrics
  • Specific Shareholder Value Metrics

733561