Sucessful Companies Do
Whether you are planning to grow your firm for the 21st century or you are providing business planning for your clients, a lesson from top-performing companies can help.
According to AnswerThink, a consulting group, top performing companies integrate strategic planning with tactical and financial planning processes. More than two-thirds of companies worldwide currently rely only on financial planning to realize business goals.
Successful companies also don’t keep strategy a secret. They share it with all levels of the organization. The survey indicates this is a prevailing characteristic for top performing companies as is tying incentives and rewards to strategic goals.
Survey top performers completed strategic planning in a relative short amount of time, tailored custom reports to help managers understand what is “important,” and focused on action plans rather than budgets.
For more information, contact James M. Kenny at Hackett Benchmarking Solutions (the research arm of AnswerThink) or call 330.656.3110.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.