This is our most extensive service offering, designed to not only help our clients execute strategy, but to ensure that every portfolio of programs and projects that come out of strategy from related objectives and goals, are met. Our clients hire us to “breathe easy” knowing that the corporate and departmental goals will be met, and knowing that this is based on our “Performance Based Services Delivery”.
SAF International has successfully implemented the Office of Strategy Management (OSM) for many mid-sized to large organizations that have resulted in our clients to continually achieve their desired objectives and thereby gain a competitive edge in the market place. SAF’s OSM provides complete implementation and the management of all components that impact the outcome of strategy implementation, including: Strategy Execution, Portfolio Management, Program Management, and Project Management. SAF provides also Balanced Scorecard Implemetation to manage the execution of strategy of the OSM.
A recent survey of more than 400 global CEOs found that executional excellence was the number one challenge facing corporate leaders in Asia, Europe, and the United States, heading a list of some 80 issues, including innovation, geopolitical instability, and top-line growth. The study also found that two-thirds to three-quarters of large organizations struggle to implement their strategy. Some other studies show that seven out of eight companies in a global sample of 1,854 large corporations failed to achieve profitable growth, though more than 90% had detailed strategic plans with much higher targets. It is clear that organizations often fail at strategy execution.
Many organizations do an adequate job on formulating strategic, but executing the strategy is where the gap exist. The reason for this gap are well documented, including – sometimes due to project management, lack of initiative ownership / accountability within the business.
Managing the strategy from its creation to identifying strategic portfolio of initiatives and their effective management is the key to robust and meaningful execution. The best practice for closing that gap between strategy and execution is the establishment of a corporate-level Office of Strategy Management (OSM) – responsible for overseeing all strategy-related activities ranging from formulation to execution. Many of these companies have now sustained their focus on strategy execution by establishing a new corporate-level unit, an Office of Strategy Management (OSM). All organizations have offices that manage finances, human resources, information technology, marketing, strategic planning, and quality. But few have an office or department with prime responsibility for managing strategy. While ultimately strategy execution is the responsibility of line managers and employees, the evidence reveals that without central guidance and coordination, strategy is either omitted from key management processes or management processes are uncoordinated across functions and business units, leading to poor strategy execution.
What is an Office of Strategy Management?
At its core purpose, it is established to manage the process of strategy formulation, and then manage the execution of strategy through well established frameworks, like Balanced Score card. The idea is to ensure that the objective and associated goals are met, there by giving an organization a competitive edge in the industry it provides services in.
The question becomes, how “deep” and how many functions should become part of this new business function. The balanced score card approach, after strategy formulation, follows a very specific and well tested methodology to implement and execute the strategy, it, as part of the process, help identify, objectives, measures, targets, and initiatives related to Financial, Customer, Learning and Growth, and Internal Business Processes.
The balanced score card approach, after strategy formulation, follows a very specific and well tested methodology to implement and execute the strategy, it, as part of the process, help identify, objectives, measures, targets, and initiatives related to Financial, Customer, Learning and Growth, and Internal Business Processes.
Specifically, the balanced scorecard (BSC) is a management system that organizations use to:
– Communicate what they are trying to accomplish
– Align the day-to-day work that everyone is doing with strategy
– Prioritize projects, products, and services
– Measure and monitor progress towards strategic targets
We at SAF believe that though BSC provides robust strategy management system, it doesn’t go far enough, and doesn’t include Portfolio Management, Program Management, and Project management functions. We believe that tying Strategy formulation all the way to projects delivery is the way to ensure that there is a common thread. This way if a strategy is changed, lets say, time to delivery, then the project management is aware of that change, and would make appropriate adjustments, trickling down from Portfolio management to project management.
Therefore, Office of Strategy functions we propose, include the following: (please note, that we concur with Robert S. Kaplan and David P. Norto, in their article published in April of 2005 of the functions that OSM what should include, but we as pointed out, believe expanding “Initiative Management” function, to include, portfolio, Program, and project management. In other word, it should absorb traditional EPMO role as well.)
1. Scorecard Management
2. Organization Alignment
3. Strategy Reviews
4. Strategy Communication
5. Initiative Management
– Portfolio Management
– Program Management
– Project Management
6. Planning/Budgeting CIO, CMO
7. Workforce Alignment HRO
8. Best Practice Sharing
Why SAF International
• SAF has successfully implemented Office of Strategy Management (OSM) for many mid-sized to large organizations that have resulted in our clients to continually achieve their desired objectives and gain a competitive edge in the market place.
• SAF’s OSM provides complete management of all components that impact the outcome of strategy implementation.
• Management processes built around the processes that help organization to become aligned and focused on implementing the long term strategy
• Experienced and sought-after staff for each of the components within the Office of Strategy Management