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Management Reporting and Innovation - IPA Conference 2015

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Management Reporting and Innovation - IPA Conference 2015

  1. 1. Management Reporting Driving Innovation & Entrepreneurship Chris Catto Putney Breeze Business Advisors Fit For The Future Conference 19 March 2015 Sydney Harbour Marriot Hotel Circular Quay 30 Pitt Street
  2. 2. Does the Business know how you are positioned enable innovation and entrepreneurship?
  3. 3. Perceptions – The Face Value
  4. 4. UnknownKnown What you Know you Know! What you Know you don’t know! What you Know and you don’t know how you know it! What you don’t know you don’t know!! Denning & Kruger effect Known Unknown
  5. 5. What is innovation and how does innovation happen? Innovation is the introduction of something new or different. The act of innovation is the introduction of new things and new methods. Macquarie Dictionary 1) Dissatisfaction with the status quo 2) Inspiration from other sources 3) Invention 4) Internal and External validation http://sloanreview.mit.edu/article/how-management-innovation-happens/
  6. 6. 1) Dissatisfaction with the status quo TPS, Target Costing, Jidoka, Kaizen, Lean
  7. 7. 2) Inspiration from other sources Sir James Dyson 3) Invention ! 4) Internal and External validation
  8. 8. What is Entrepreneurship? Someone who organises and manages any enterprise, especially one that involves considerable risk; an employer of productive labour Macquarie Dictionary
  9. 9. • Desire • Belief • Life Experiences • Imagination • Planning for the purpose of action • Decision making mastery • Persistence • Influencing the subconscious mind (trust) Problem solving and engaging others to action accordingly Think and Grow Rich – Napoleon Hill Entrepreneurial Mind Set
  10. 10. Great Innovative and Entrepreneurial Organisations create new needs through innovative products! – Motor Car – Walkman – Cyclone Vacuum Cleaner – iPad Great Innovative and Entrepreneurial Organisations
  11. 11. Where is CPM and management reporting heading? 1) Office-of-finance CPM — largely involves the improvement of financial processes 2) Strategic CPM — supports organization wide transformation and growth
  12. 12. Strategic CPM — supports organization wide transformation and growth How do you leverage Management Reporting to; 1) Highlight dissatisfaction with the status quo 2) Act as a catalyst to see inspiration from other sources 3) Advance those who organise an enterprise that involves risk and employs productive labour What is your Entrepreneurial Value; what is your product or service that facilitates organisation wide transformation and growth?
  13. 13. Communicate the Problem Highlight the destination Communicate the Solution Provide the path to the Solution Implement and solve the Problem Where are we now? The Responsibility holders problems and challenges and fears. Where we need and can be. The benefits of alternative scenario. Clarity in information, improved communications, aligned goals, improved decision making , higher personal esteem amongst peers Outline the benefits of a driver based budget and forecasts for decision insights, forward planning and managing communications with key stakeholders Provide a budgeting and forecasting process that enhances decision insights, forward planning and communications with key stakeholders Enhanced Budget & Forecast Buy in and collaboration Budgets and business influencing a framework
  14. 14. It begins with Trust! The framework provides a starting point from which the end goal can be achieve through a logical sequence of action. However to engage your internal stake holders, your clientele, the establishment of both perceived and real goal congruence will be a critical factor. • Do you understand the key motivators of your clientele (internal) • How are they rewarded? • What are their measures of success? • What are their short term goals? Have you asked the question? Or have you made assumptions? By asking the right questions you begin the process of establishing goal congruence Is a framework enough?
  15. 15. • Enhance interdepartmental understanding through transparency • Friend v Foe - moving from gate keeper to solution provider • Alignment of Culture and common goals. • Underpinned by consistent delivery of reporting, commentary and insights Ultimately delivering actionable information in the appropriate context to facilitate the goal achievement of your clientele. Every Month End, Business Case and Tender evaluation, Finance project provides and opportunity to build trust. The establishment of consistent service provides a platform from which to enhance engagement in the budget and forecasting process Leveraging Goal Congruency
  16. 16. Enhanced Budget and Forecast engagement underpinned by Singular objective Facilitate Goal Congruence Deliver Consistency in Service Build Trust Enhance Budget and Forecast Engagement facilitate organisation wide transformation and growth Align Culture
  17. 17. Case - Kyocera Amoeba Management Drill Down 0.0 50.0 100.0 150.0 200.0 250.0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Profit from operations Profit from operations (Unit: Billions of yen) Founded by Kazuo Inamori Kyocera has never recorded a loss in 54 years of operations ► Amoeba Management Accounting Philosophy ► Business Units Fiscally independent, self contained and aligned with overall corporate goals ► A principle of Cash basis management ► Monthly Profit management focused on forward activity ► Key measures at Business Unit Level - Hourly Efficiency System
  18. 18. Case - Kyocera Amoeba Management Drill Down Facilitate Goal Congruence Deliver Consistency in Service Align Culture All business units “Amoebas” focus on improving the “Effective Hourly Rate” measure as the all encompassing measure of progress. Transparent calculation and collective understanding of implications. Philosophy - Segregates company into autonomous self managed “Amoebas” who operate on a share philosophy of continuous improvement challenging the status quo in competitive environment, underpinned by “Good citizen” culture Forward focused reporting that facilitates action plans for the week/month ahead on requirements to return to goals or embed advantages . Reporting underlined by collective problem solving outcomes
  19. 19. Facilitate Goal Congruence Budget - “The Fiscal Year Master Plan” - A summary of objectives for the entire company - Management objectives are represented as goals in clear numbers for each Amoeba unit (Sales, net Production, and Hourly efficiency ) - Amoeba leaders are left to create their own master plan on how the objectives will be reached. Monthly Reporting - Forward looking, focused on action planning for only the immediate month ahead - Clear link between activity and financial numbers must be made. - Monthly plan must make reference to annual plan goals. Adapted from Kazuo Inamori – Amoeba Management: The Dynamic Management system for Rapid Market Response Case - Kyocera Amoeba Management Deep Dive – Budgeting and Reporting Principles
  20. 20. “a lot of the time, people don’t know what they want until you show it to them” Steve Jobs

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