This book examines the practice of strategic business planning, including its functions, methods, tools, and the way in which they are employed. It does so in a practical way through case studies, which help in demonstrating how to innovate in order to overcome obstacles and cover new and evolving challenges.
The book is divided into six parts : • part 1 focuses on the strategic plan, as master plan of the enterprise • part 2 covers the management functions whose able execution makes the difference between success and failure: forecasting, planning, organizing, staffing, directing, and controlling • part 3 demonstrates that modern accounting rules, promoted by IFRS and US GAAP, not only assist in strategic financial planning but also provide a solid basis for management supervision and control • part 4 brings your attention the fact that costs matter. Strategic business plans that pay little or no attention to cost factors are doomed • part 5 addresses the issues associated with strategic products and markets. These range from research and development to market research, product planning, the able management of marketing functions, and sales effectiveness • part 6 concludes the book with an emphasis on mergers, acquisitions, and consolidations and the risks associated with an M&A policy
Chief executives, operating officers, treasurers, financial officers, budget directors, accountants, auditors, product planners, marketing directors, and management accounting specialists will find this book of practical examples helpful to their decisions and to their work.
- Shows the factors to consider when planning how to take your company to the next level, from identifying and making strategic choices to capital allocation and financial planning. All from a professional accountant's perspective and in their language
- Full of case studies to help you relate your ideas to what other major companies have done before, including IBM, Delta Airlines, and Bloomberg - so you can learn from their success or failure
- Shows why strategic cost control is good governance, why and how to account for the cost of risk and how IFRS relates to strategic accounting principles
Accountants and auditors; cost controllers and cost centre managers; mergers and acquisitions specialists; certified public accountants; strategic planners, and their assistants; treasurers and members of the treasury team; board and executive committee members.
PART ONE: Delivering the Strategic Plan; 1 Strategy is a Master Plan; Introduction; Main Components of a Business Strategy; Positioning Our Firm Against Market Forces; A Strategic Plan Must Be Holistic; Standards Setting, Added Value, and Strategic Planning; Reasons Why Strategic Plans Fail; Precious Advice by Sun Tzu and the AT&T Case Study; 2 Examples of Leadership in Strategic Decisions; Introduction; Douglas MacArthur and the Inchon Strategic Decision; Strategic Decisions in Business: Redefining the Company's Role; Many Strategic Decisions Depend on MacroEconomics; Economic Policy and the Price of Key Commodities; Comparative Advantages and Knowledge Workers; Strategic Dimensions under the New Capitalism; 3 Strategic Choices in Corporate Governance; Introduction; The Choice of a Product Line. A Case Study with Toyota; Strategic Choices in the Banking Industry; Strategic Products; Strategic Customers; Short-Term Versus Long-Term Performance; 4 Establishing a Strategic Plan; Introduction; Stages in the Development of a Strategic Plan; Case Studies on How Companies Gain the High Ground; Strategic Planning at Lean and Mean Organizations; The Importance of Credit Rating on Strategic Planning; Strategic Plans and Capital Allocation; Developing Alternatives for a Strategic Plan; A Methodology to Support Strategic Planning; PART TWO: Functional Effectiveness in Strategic Planning; 5 Forecasting; Introduction; Prognostication Is a Difficult Art; Forecasting Defined; Making a Forecast; Forecasts Must be Realistic; Models Could Help in Prognostication; 6 Planning; Introduction; Prerequisites for Planning; Planning premises in the Banking Industry. A Case Study; Longer Range Planning; The Shorter Range Plan; Being Focused, Responsive, and Resilient; Management Planning and Business Risk; 7 Organizing and Staffing; Introduction; Organizational Principles; Taking Control of the Organization; Emphasizing the Role of the Individual; Leadership Talent and Knowledge Assets; Looking Beyond the Numbers; Establishing a Rigorous Training Program; 8 Directing and Controlling; Introduction; Leadership in Industry; Professionals and Managers; Day-to-Day Management Decisions; The ABC Project Teams; Executive Productivity; Controlling Defined; Internal Control; Better Corporate Governance; PART THREE: Financial Planning and Accounting; 9 Financial Planning; 10 IFRS and Strategic Accounting Principles; 11 Establishing Financial and Accounting By-Laws; PART FOUR: Cost Control and Profitability; 12 Rigorous Cost Control Is Good Governance; 13 Cost of Capital and Cost of Exposure; 14 Ways for Sustaining Profitability; PART FIVE: Products and Markets; 15 Product Planning and Non-Traditional Research; 16 Strategic Decisions in Marketing; 17 Know Your Customer; PART SIX: Strategic Mergers and Acquisitions; 18 Mergers and Very Big Corporations; 19 Case Studies on M&As Among Large Institutions; 20 Strategic Plans with M&As Which Have Gone Sour
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- © CIMA Publishing 2007
- 31st August 2006
- CIMA Publishing
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Since 1961, Dr Dimitris N. Chorafas has advised financial institutions and industrial corporations in strategic planning, risk management, computers and communications systems, and internal controls. A graduate of the University of California, Los Angeles, the University of Paris, and the Technical University of Athens, Dr Chorafas has been a Fulbright scholar. Financial institutions which have sought his assistance include the Union Bank of Switzerland, Bank Vontobel, CEDEL, the Bank of Scotland, Credit Agricole, Österreichische Länderbank (Bank Austria), First Austrian Bank, Commerzbank, Dresdner Bank, Mid-Med Bank, Demir Bank, Banca Nazionale dell'Agricoltura, Istituto Bancario Italiano, Credito Commerciale and Banca Provinciale Lombarda. Among multinational corporations Dr Chorafas has worked as consultant to top management, are: General Electric-Bull, Univac, Honeywell, Digital Equipment Corp, Olivetti, Nestlé, Omega, Italcementi, Italmobiliare, AEG-Telefunken, Olympia, Osram, Antar, Pechiney, the American Management Association and host of other client firms in Europe and the United States. Dr Chorafas has served on the faculty of the Catholic University of America and as visiting professor at Washington State University, George Washington University, University of Vermont, University of Florida, and Georgia Institute of Technology. Also, the University of Alberta, Ecole d'Etudes Industrielles de l'Université de Genève, and Technical University of Karlsruhe. More than 6,000 banking, industrial and government executives have participated in his seminars in the United States, England, Germany, other European countries, Asia and Latin America.
CORPORATE CONSULTANT IN ENGINEERING AND MANAGEMENT, PARIS VISITING PROFESSOR, INFORMATION SCIENCE AND BUSINESS ADMINISTRATION, WASHINGTON STATE UNIVERSITY