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| Lost in translation | December, 2008 | ||||
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Dear Welcome to the December issue of the e-newsletter. Although most of us are preoccupied with the next few weeks as we race towards Christmas, please do make a note of our AGM taking place in January. As a society, it's important to hear from members and get feedback on what's happening. If you are thinking of coming, we would be grateful if you could let us know in advance – see details below. Members are also encouraged to take part in a survey being conducted by our e-newsletter sponsor 2GC Active Management on the use of Balance Scorecard in UK companies. Please see below for additional information about the work of 2GC Active Management as well as the survey, which can be completed online or as a PDF. Finally, members are reminded that there is still time to complete Edengene's strategy survey 'The credit crunch – winning in a downturn' and to receive a tailor-made health check diagnosing your organisation's readiness to tackle the challenges ahead. You should already have received an email inviting you take part; if not, see below for details on how to participate. Wishing you a merry Christmas and a happy New Year, 
James Leaton Gray, Chairman |
» In this issue: SPS news Research and insight Events and workshops Sponsor |
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Strategy Magazine published 
All members should soon be receiving their copies of the December issue of Strategy Magazine.
The focus of this issue's cover story is the translation of strategy, which stresses that managers must do more than simply communicate strategies to staff – see below for more details. Also included are articles addressing the ways in which organisations can meet the EU's increasing demand for a highly qualified labour force, as well as tips to help your business survive the recession and for managers to meet their corporate responsibility goals. Organisations can also learn how to establish and maintain a 'sense of urgency', and make the most of it as a strategic organisational tool. Finally, we highlight some of most recently published books on strategy in the latest publications update. |
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AGM confirmed Members are reminded that the next AGM will be held on 14 January 2009 at the Royal Over-Seas League, Over-Seas House, Park Place, St James's Street, London, SW1A 1LR at 6pm (the nearest tube station is Green Park). All members are welcome to attend. If you are intending to come along we would be grateful if you could let us know in advance by sending us an email so we can arrange appropriate catering.
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Strategy survey: final reminder There's still time to participate in a thought-provoking survey supported by the SPS, entitled 'The credit crunch – winning in a downturn'. In 2001, Edengene launched its landmark 'Managing in a downturn' survey in collaboration with the late Sir John Harvey-Jones. Sir John provided a vision for how business leaders should behave in a downturn, in turn producing the 'Ten principles of managing in a downturn' with his legendary flamboyance. In 2008, as the world sits on the brink of potentially a more serious downturn, Edengene will revisit this ground-breaking work taking into account the current circumstances and the 'voices of industry'. To complete the survey visit www.edengenesurvey.com. All participants will also receive a pragmatic, tailor-made health check that will diagnose your organisation's readiness to manage in the downturn, and ultimately win in the upturn. |
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Long Range Planning published The December 2008 issue (volume 41, number 6) of Long Range Planning has been published, and of particular note is the opening article on David Allen's 'getting things done' method, by Francis Heylighen and Clément Vidal. The authors explore how we work best (as individuals) and why being muddled is not necessarily a bad thing. They demonstrate why so many expensive IT tool kits and HR courses are a waste of money, suggesting that Allen is right: with a little guidance, intuition may be both the most efficient and most effective way to work. Susan Miller, David Hickson and David Wilson move the agenda to the organisation and examine who really influences decisions and makes sure things get done. Linus Dahlander and Mats Magnusson address the issue of open source software and look at how firms (as both users and designers) adjust their business models to make use of open source communities and improve their capabilities. Finally, using examples from two Italian fashion firms, Paola Cillo and Gianmario Verona look at two different ways in which firms can search for style creation and selection, and compare their relative efficacy.
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Lost in translation In issue 18 of Strategy Magazine, Hamish Scott from Ashridge Business School argues that executives who feel they've done their jobs once a strategy has been communicated to staff are underestimating the extent of their responsibilities. He explores the effective 'translation' of strategy – answering the questions of 'how?' and 'why?' – and its implications for goal setting and performance management, as well as its influence on people's attitudes across all levels of an organisation.
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Key learning activities in exploratory initiatives It is estimated that only 3% of new product development projects go on to produce commercial successes. In volume 40, number 1 of Long Range Planning, Christoph Lechner and Steven W Floyd point the finger of blame on managers' lack of investment in four key learning activities: searching, processing, codifying and practising. Looking at 41 exploratory initiatives in three insurance firms (of which 16 were adjudged successes), the authors offer a clear exposition of the importance of these activities.
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The great escape? With gloomy economic news continuing, along with talk of consumers and business losing confidence and forecasts predicting a recession that will be longer and deeper than previously expected, we may be in for a boom in escapism – with portions of nostalgia, tradition and simplicity on the side. During the Depression of the 1930s, Hollywood supplied a stream of escapist, romantic and often glamorous movies to transport people away from the pressures of everyday life. We may be seeing a similar move from the film industry now, as illustrated by the new film Australia, starring Nicole Kidman. However, the bigger escape may be online – to virtual worlds, games and highways.
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| » Events and workshops | ||||
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Ashridge Open Programmes The SPS and Ashridge have teamed up to offer SPS members some exclusive benefits, the first of which is a 10% discount on any of Ashridge's open strategy programmes. Ashridge has a wide variety of short, residential programmes to help individuals and organisations to achieve their development needs. These programmes focus on blending the practical experience of their faculty with leading-edge business thinking, to inspire and challenge you. In addition, learning in small classes – typically 12–30 participants – promotes collaboration on your own issues and ensures individual support, enabling all participants to return, better able to transfer learning to the workplace. For more details, visit Ashridge. Please quote your SPS membership number when booking. |
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| » Sponsor | ||||
Strategy execution – revising plans in light of present economic circumstances The uncertainties and turbulence of current times will require organisations to review their strategic goals and plans. Adjustments will be necessary to rebalance activity to better match resource to weakening market demand. 2GC's performance management processes focus on structured decision making by management teams, and offer a time and resource efficient approach to establishing consensus on new priorities. It is a pragmatic approach that is entirely suited to addressing these issues. In this regard 2GC has recently been helping a utility company improve its execution of strategy at corporate and divisional levels, as well as working with a national telco to define a cost reduction strategy and targets. Find out more about our approach and recent projects by visiting our website. To sign up for 2GC email updates, please visit us online or send us an email. Alternatively, contact Gavin Lawrie or William Barney by email or by phone on +44 (0)1628 421506. 2GC is currently undertaking a survey of UK companies' use of Balanced Scorecard. The survey can be completed online or as a PDF by email. All survey participants will receive a copy of the summary report. 2GC Active Management – Performance Management Experts |
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