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h has been written approximately how finance unions can transform strategic partners with the businesses they support. While purported specialists point to a diversity of structures, scorecards and key extravaganza arrows, etc. as the keys to bridging the breach between finance and business, these trite 'solutions' have done little to make finance the strategic business partner it seeks to be. Worse yet, pursuing these motifs has put finance organizations on a treadmill where they consume stamina and resources money and time) ultimately to get nowhere meantime the issue persists. So if you are still looking for a silver bullet or fast nail to this seemingly incurable problem [link widoczny dla zalogowanych], stop reading now.
Given the period [link widoczny dla zalogowanych], money and effort spent, you may be a morsel demoralized and even speculating that the finance-business hole cannot be crossed. Paradoxically, the interlock between finance and the business has been beneath finance's proverbial proboscis fhardly everme time - resource allocation. A serious premeditated effort to optimize one organization's resource allocation afterward enables finance to develop the bridge between finance and strategy. This discipline known as corporate portfolio management works to actively manage the company's resource allocation as a portfolio of discretionary investments. All companies allocate their resources - very few optimize their resource allocation. Finance is uniquely positioned to qualify this for they sit at the nexus of message and data required to undertake a corporate portfolio management effort. (Note: Corporate portfolio management is often referred to by different terms so as a point of reference, terms such as IT portfolio management, enterprise portfolio management, product portfolio management, project portfolio management, resource allocation and investment optimization are similar. In fact, these all are slices or subsets of corporate portfolio management.)
From Resource Allocation to Strategy
First, it is value knowing the knot between resource allocation and strategy - they are the same. Where you apportion your resources is your strategy. PowerPoint presentations, lectures by senior leadership, strategy bullets nicely bordered on a wall, etc. are all interesting and potentially serviceable, merely they are no your organization's strategy. For instance, whether your stated corporate strategy is to have the maximum busy and consistent customers (this sounds agreeable, right?), but you apportion all your investment dollars to acquiring current customers, your strategy is really approximately customer accretion. This is a very uncomplicated example but apparently demonstrates the dichotomy that can and constantly exists between a stated and real strategy.
A magnificent treatise entitled "How Managers' Everyday Decisions Create - or Destroy - Your Company's Strategy" namely recently seemed in the Harvard Business Review (February 2007) nicely articulated the articulation among resource delivery and tactics and too pointed to the need because a corporate portfolio management punishment. "How business truly gets done has mini connection to the strategy developed by corporate headquarters. Rather [link widoczny dla zalogowanych], strategy is crafted, step at tread, as directors at always levels of a enterprise - be it a small fixed or a massive multinational - commit resources to policies, programs, folk and facilities. Because this is true, senior management might think focusing less care on calculating via the company's formal strategy and more attention aboard the processes at which the company allocates resources."
The upshot of this is that if finance can enable the process to enable better resource allocation (which is strategy), they will have succeeded in becoming a de facto strategic partner to the business.
The Two Levers of Corporate Portfolio Management
So immediately the answer corners to how to construct a corporate portfolio management discipline and ensure its success. A successful corporate portfolio management exertion is predicated on 2 dimensions.
1. Modern Portfolio