This blog was written by guest blogger, Jonathan Herps
Blog written by Guest Blogger, Eskinder Assefa
One of the toughest challenges CEOs face is finding effective ways to align teams and keep them aligned as their company grows. High-growth companies must have teams that are continuously aligned and work cohesively on what matters most.
Misalignment is Practically the Norm
When Rebecca Homkes, strategy expert and teaching fellow at London Business School, and MIT Sloan School senior lecturer Don Sull set out to study how strategy plays out in more than 400 companies, they got a surprise. The research team started off by asking more than 11,000 senior managers what was supposed to be an easy question: What are your company’s top three to five priorities?
Our guest blogger today is Howard Cox, CPA, CMA, CIA. Launching his career with a Big Four firm in 1983, Howard established his own practice just four years later—and, in late 2001, merged his independent CPA firm into Somerset CPAs and Advisors' operations. Currently, Howard focuses on general Business Advisory, Mergers and Acquisitions and PPACA Compliance engagements, and also conducts informative presentations for clients, as well as outside events.
The quality of business performance is dependent on the quality of management decisions. The quality of management decisions is dependent on the quality of management information.
Strategy is about focus. Customers are a key element of effective strategies. Optimal allocation of finite resources towards appropriate customer focus can only come from customer knowledge. Therefore, having a deep analytical understanding of relative customer profitability is a critical prerequisite to annual or quarterly strategic thinking.