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SMART

Posted in Resource EXTRA



Too often we don’t spend enough time clarifying what we’re really aiming to do before we move to action.

It’s all too easy to set objectives that are so general that we don’t know exactly what we’re trying to achieve, or whether we’ve achieved it.

A structured approach forces us to think more deeply and methodically about what we actually want. Perhaps the best known of these approaches is the SMART acronym. This is a practical, straightforward tool, which can be used for both professional and personal planning.

There’s quite a wide range of variations in the way SMART is defined, and in this quick guide, we outline one of the most popular.

SMART Objectives - A Quick Guide


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The Chartered Institute of Management Accountants (CIMA) produce a range of 'Topic Gateways' which are intended as a refresher or introduction to topics of interest to their member

s and others involved in the practical application of finance within organisations.

This Topic Gateway explores a range of analysis tools include SWOT and PEST analysis, Porter’s Five Forces and Value Chain Analysis etc.

To download this Topic Gateway Click Here


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The critical first step in designing and leading successful large-scale change is to fully understand the dynamics and performance of the enterprise.

It’s simply impossible to prescribe the appropriate remedy without first diagnosing the nature and intensity of an organisation’s problems.

Is your organisation's performance as good as it could be? What could be changed to improve things and why would this help? Does the key lie in the work itself? Or with the people doing it? Should you reorganise the corporate structure? Or try to change the prevailing culture?  And why does one organisation seem to thrive on a certain corporate structure or type of work, while another struggles?

The answer lies in understanding the key causes or drivers of performance and the relationship between them.

The Congruence Model, first developed by David A Nadler and M L Tushman in the early 1980s, provides a way of doing just this.  It's a powerful tool for finding out what's going wrong with a team or organisation, and for thinking about how you can fix it.

To find out more about the model and how it can be applied Click Here


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In this 'Be Inspired' interview, Paul Bridle speaks to Roger Martin-Fagg, a behavioural economist, about the direction business should go in the next 5-7 years and the importance of innovation.

Click Here To View The Interview


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The balanced scorecard was initiated by two researchers from Harvard Business School by Robert. S. Kaplan and David. P. Norton in the early 1990’s.

It was designed and developed for measuring strategic performance and management structure of an organisation.

The Harvard Business Review define the balanced scorecard in the following way:

“The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation.”

To find out more about how to develop your own balanced scorecard Click Here

 


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I read an article recently saying that “CEOs who put sales management at the heart of their agenda have captured astonishing growth — outstripping their peers by 50 to 80 percent in terms of revenue and profitability”.

I was a little astonished at this. To me it is like saying, the person that puts organic food at the heart of their diet are healthier. Probably very true, but the belief that this alone can make a healthy person is ridiculous.

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The parallels between the game of golf and being in business help us understand where we should focus and what should be important. Golf is a game where the player is largely competing against himself and seeking to improve ways to improve his performance.

In this video, Paul Bridle will look at other important parallels and why this is important to business and the way we approach our business every day. If we approached business in the way a golfer approaches golf, it may make a significant difference to our performance.

 


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