By Gary Kapanowski (Join Gary at the annual Lean Accounting & Management Summit, September 12-13, 2019 in Austin, TX) –
The general consensus is that if the strategic plan is constructed properly, then it will be implemented successfully — similar to the idea expressed by Chevy Chase in the movie Fletch (1985): “It’s all ball bearings nowadays.” However, the evidence points to the contrary. In a recent study by the Project Management Institute (PMI), only 56 percent of strategic initiatives meet original goals and business intents, resulting in a 10.9 percent loss of investment. The high variance of success rates, ranging from 89 percent to 36 percent, suggests high-performing organizations waste almost 12 times less than low performers. Other contributing factors for successful implementation, including strategic alignment (71 percent to 48 percent) and organization agility (69 percent to 45 percent), suggest the case for lean strategy.
The general consensus is that if the strategic plan is constructed properly, then it will be implemented successfully — similar to the idea expressed by Chevy Chase in the movie Fletch (1985): “It’s all ball bearings nowadays.” However, the evidence points to the contrary. In a recent study by the Project Management Institute (PMI), only 56 percent of strategic initiatives meet original goals and business intents, resulting in a 10.9 percent loss of investment. The high variance of success rates, ranging from 89 percent to 36 percent, suggests high-performing organizations waste almost 12 times less than low performers. Other contributing factors for successful implementation, including strategic alignment (71 percent to 48 percent) and organization agility (69 percent to 45 percent), suggest the case for lean strategy.
Lean strategy changes this outcome due to its foundational focus on the customer in ever y process and task performed by the individual and organization as a whole. The accountant is uniquely positioned within the organization to impact the success of strategy implementation, as well as the support and development of lean. This article will explain:
• why the accountant is suited to start the lean strategy;
• how to start a lean strategy;
• how to continue lean organizational development; and
• how to finish with lean operations and control. With direction, the accountant can become a driving force for successful strategy implementation and positive performance within the organization.
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Join Gary Kapanowski and a host of industry thought leaders for the annual Lean Accounting & Management Summit, September 12-13, 2019 in Austin, TX. VIEW SUMMIT AGENDA
