excellence (24)

The most resilient and consistently successful companies have discovered that the devil is in the details of the organization. No pic-1-Organizational-DNA-4-Building-Blocks-300x200.jpg?profile=RESIZE_710xcompany may ever totally master the enigma of execution. But for them organizing to execute has truly become a competitive edge.

Execution only becomes effective when the company’s DNA is holistically integrated. This means weaving intelligence, decision-making capabilities, and a collective focus on common goals widely and deeply into the fabric of the organization so

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As the business and operating environment changes, there has been a greater demand for transparency and accountability as to the pic-1-COSO-Framework-300x208.jpeg?profile=RESIZE_710xintegrity of internal control. This has become very critical today as businesses drive to enhance the likelihood of them achieving their objectives and be able to adapt to changes in the global business environment.

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released in 1992 the Integrated Internal Control Framework that will enable orga

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A commonly quoted statistic is that 80% to 95% of the cost of a product is determined by its design and is therefore set before the itempic-1-5-Cost-Management-Strategies-300x200.jpeg?profile=RESIZE_710x enters manufacturing. This assumption suggests that the dominant focus of Cost Management should be during Product Development and not during Manufacturing.

However, contrary to a widely held assumption, companies can integrate a variety of Cost Management techniques not only in the design phase but throughout the product life cycle.  This is to ensure that ther

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Post-merger Integration is a highly complex process. It requires swift action as well as running the core business activities pic-1-Post-merger-Integration-PMI-Integration-Checklist-300x200.jpeg?profile=RESIZE_710xsimultaneously. There is no one-size-fits-all approach to a successful PMI Process. However, careful planning focusing on the strategic objectives of the deal and the identification and capturing of synergies will help maximize deal value.

Because of the complexity of the PMI process, it is of utmost importance that organizations—both the Buyer and Target, the integration

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Culture is essential today in helping employees and management survive in today’s environment. Survival has become a strong word pic-1-Lean-Culture-Framework-300x200.jpeg?profile=RESIZE_710xtoday. Without culture, everyone in the organization would act or behave differently. No one would be able to anticipate someone else’s behavior, and no one would understand why people behave the way they do. When this happens, the organization’s performance would be very chaotic.

What is culture? Organizational Culture is a learned process and is developed by the organ

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Peter Drucker, one of the first managerial thinkers, introduced MBO or Management by Objectives. This eventually paved the way for pic-2-Objectives-and-Key-Results-300x200.jpeg?profile=RESIZE_710xthe birth of the Objectives and Key Results (OKR) management philosophy. Andy Grove, known as the “Father of OKRs”, introduced the approach to Intel during the 1970s. This was further popularized by John Doer by introducing OKRs at Google in 1999.

Today, successful organizations are now using OKRs.  Objectives and Key Results is an efficient way to track company and t

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The amount of time the Board of Directors spend on their work and commit to strategy is rising. Directors say they dedicate more time nowpic-1-Board-Excellence-Primer-300x200.jpeg?profile=RESIZE_710x to their Board duties than ever before.  In fact, since 2011, the directors have cut in half the gap between the actual and ideal amount of time they spend on Board work.

In the newest McKinsey Global Survey on Corporate Boards, the results showed that strategy, on average, is the main focus of many Boards.  Yet, directors still want more time for strategy when

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Enterprises invest in Analytics to improve Decision Making and outcomes across the business. This is from Product Strategy and Innovation to Supply Chain Management, Customer Experience, and Risk Management. Yet, many 8028316454?profile=originalexecutives are not yet seeing the results of their Analytics initiatives and investments.

Every organization putting on investment in Analytics has experienced several stumbling blocks. This differentiates the leaders from the laggards. Analytics-driven Organizations have clearly es

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The business has become more challenging as the global market becomes more demanding. This change in the global market is puttingpic-2-Board-Excellence-Engagement-300x200.jpeg?profile=RESIZE_710x pressure not only on Management but also on the Board. Strategy Development now demands that organizations should not only be effective but there should also be Board Excellence.

Today, the demand has ceased to be about spending more time. Boosting the effectiveness of the Board is not anymore about spending more time. The urgent call now is to focus on changing the na

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The pressure on Boards and Directors to raise their game has remained acute. A survey of more than 770 directors from public and pic-1-HIgh-Impact-Strategic-Boards-300x200.jpeg?profile=RESIZE_710xprivate companies across the industries around the world suggested that some are responding more energetically than others.

There is a dramatic difference between how directors allocate their time among boardroom activities and the effectiveness of the Boards. One in four directors assessed their impact as moderate or lower, while others reported as having a high impact

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Lean Management plays a significant role in putting in place processes, capabilities, and tools to improve how businesses operate. Butpic-1-Digital-Transformation-225x300.jpeg?profile=RESIZE_710x, the Digital Age has increased both the opportunities for businesses who know how to react and the difficulty of getting it right.

Tasks performed by humans are now more complex be it accessing information in multiple formats from multiple sources or responding to changing market and customer dynamics at an ever-increasing speed. As an increasing number of tasks b

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When things go wrong on a grand scale, often we direct our attention to the role of the Board. Debate exudes and often gets heated uppic-1-Long-term-Mindset-300x200.jpeg?profile=RESIZE_710x and intensifies. This often happens when the Board spends more time looking in the rearview mirror and not enough scanning the road ahead. When this happens, governance suffers.

Often, the Board of Directors spend a bulk of its time on quarterly reports, audit reviews, budgets, and compliance.  However, with the change in the business environment, there is a greate

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Inspiring breakthrough innovation in business models and solutions is becoming critical for organizations’ existence, as startups through their innovation have been consistently disrupting large organizations globally. To foster innovation, the key ingredient is creating an organizational culture that encourages innovation in all spheres. Every organization, today, aspires to nurture a culture of innovation where employees are motivated to take initiatives that result in the creation of innovati

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How Do We Attain Management Excellence?

In their book In Search of Excellence, McKinsey consultants Tom Peters and Robert Waterman found 8 common themes which they argued were responsible for the success of 14 identified companies of “excellence.” The framework is known as the 8 Attributes of Management Excellence. The research and theorizing of this framework was based on the McKinsey 7-S Model, also authored by Peters and Waterman.

The 8 attributes are:

  • A Bias for Action
  • Close to the Customer
  • Autonomy and Entrepreneurship
  • Productivity th
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The Insurance industry is facing extensive operational challenges with disruptive market and consumer changes leaving insurers with no choice: innovate or die.

 As a result, many are undertaking a complete top-to-bottom transformation. One such U.S insurer is Liberty Mutual, who are exploring new ways to automate and operationalize to transform their processes.

PEX network spoke to the Director or Special Projects – Process and Technology, Sidharth Grover, to find out what he and his team are look

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3 OpEx Pillars for Insurance Firms

Ahead of the Operational Excellence for Insurance summit in Hartford, Connecticut, October 17 - 19, 2016, we’ve brought together three thought leaders to detail a key pillar OpEx best practice each to successful operational excellence and transformation.

Three thought leaders detail a key pillar of OpEx best practice each.

PILLAR 1: Creating the Right Operational Excellence Framework - John Martino (Aetna)

PILLAR 2: Communicate Change Management Enterprise-wide - Angie Kennard (Marsh)

PILLAR 3: Stri

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As customers demand more, the insurance industry has to listen or lose out. An effective voice of the customer programme (VoC) will not only create an environment for continuous improvement, but also provide a competitive advantage in an increasingly crowded market. With more insurance companies conducting their own customer research, PEX Network spoke to Lisa Schilling, Vice President, Health Care Performance Improvement, Kaiser Permanente, about bringing the voice of the customer into the hear

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Ahead of the 3rd Annual Operational Excellence in Insurance, the PEX Network caught up with key speaker Allstate's CI Methodology Lead, Howard Grunwell to get a snapshot into how the company is responding to customers' changing expectations and transforming the customer experience.

Download the full interview here

To uncover more tips, tactics and ideas about operational excellence and transformation, plus hear more from Howard and our expert speaker faculty, join us at the 3rd Annual Operational

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Who is attending OpEx Insurance 2016?

The response from the market to this timely meeting has been exceptional, with a number of the most senior Opex insurance professionals confirmed to attend.

If you’d like to see the full list of attendees please download here.

This is the only conference that takes a deep dive into the operational challenges facing the Insurance Industry. With new entrants and changing customer expectations on one side, and decreasing investment returns on the other, Insurers must make a choice: innovate or fall b

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Are You Ready for Digital Transformation?

Digital transformation means providing all our clients the possibility to interact with us via the channel they want, when they want. As a client experience leader, we will follow the client journey across all interaction channels”

You think you are ready for the digital transformation, but do you have the right foundation in place? Having a clear performance framework is the starting point for a successful digital transformation journey.

Ahead of the PEX Network’s 3rd Annual Operational Excellen

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