IMPLEMENTING THE PLANNING FRAMEWORK
In this final chapter, we will look at the challenges of implementing the planning framework and make suggestions on how this should be appproached.
PLANNING AND THE ROLE OF THE CHIEF EXECUTIVE
Chief executives are typically appointed with one role in mind: to lead the organisation in achieving its purpose. They are expected to do this ethically, within designated constraints (for example, costs incurred and investment required), and by operating in a manner that demonstrates desired beliefs, values, and attitudes.
It is a role the chief executive cannot do alone, and so he or she must look to key people for ideas, guidance, and support. The chief executive’s role, along with his or her executive team, is to answer the question, ‘Where do we want to go?’ That involves strategy formulation. However, what this book is about is how to answer a second question: How are we going to get there? Strategy execution requires plans, initiatives, process improvements, resources, and the many other factors described in this book. A strategy is never static, but rather, dynamic, as it must be adjusted in response to external factors and new ideas. Hence, flexible and integrated planning is needed.
Those who work in finance have the potential to be amongst the strongest allies of the chief executive, as they are the custodians of the organisation’s financial resources. Ensuring that these are allocated in ways that support the mission and then tracking the ...