Impacting Organizational Capability Flashcards
BUSINESS INSIGHT
what do you need to do in order to develop a business case?
gather data
define a rationale
deliver supporting arguments
BUSINESS INSIGHT
what does a business case include?
a definition of the situation the benefits the costs a timeline the impact on the organization
BUSINESS INSIGHT
what are the five steps to create a business case?
- examine
- identify
- analyze
- select
- describe
BUSINESS INSIGHT
what is the examine phase of building a business case?
Examine the organization’s strategic priorities and clearly define the situation, the need, and the opportunity for the initiative in terms of these priorities.
BUSINESS INSIGHT
what is the “identify” stage of building a business case?
Identify possible solutions and how talent development can contribute to the organization’s priorities. Talent development professionals should quantify the benefits and forecast the costs that may be involved for potential solutions. They should incorporate financial, economic, and organizational data. They should also determine risks and issues with each of the solutions.
BUSINESS INSIGHT
what is the analyze phase of building a business case?
Analyze and compare all solutions. Talent development professionals should base the analysis on predetermined criteria and document the data and analysis.
BUSINESS INSIGHT
what is the select phase of building a business case?
Select the best solution and determine the details required to make the recommendation. Talent development professionals should determine metrics that can be used to support the initiative’s influence on the organization’s top and bottom lines. They should also determine where the most impact will occur and also create an approximate budget to balance the success metrics. No one expects exact numbers in a business case.
BUSINESS INSIGHT
what is the describe phase of building a business case?
Describe the implementation plan. Talent development professionals may want to tap into their network to obtain data and examples to use as a benchmark. A general rule is to only present projects where the value is positive.
BUSINESS INSIGHT
what are the components generally included in a business case presentation?
executive summary current situation initiative description environmental analysis and alternatives business and operational impacts preliminary risk assessment cost/benefit analysis implementation timeline and strategy
BUSINESS INSIGHT
what should be included in your communication strategy for a business case?
− Incorporate the information about a program or initiative.
− Determine the audience.
− Identify methods available.
− Establish a timeline for delivering the information.
BUSINESS INSIGHT
what are some elements of a strategic plan development?
− Talent development vision − Mission statement − Value statements − Strategic goals − Objectives − Action plans
BUSINESS INSIGHT
what are the budgeting considerations for a business case and strategic plan?
A working plan that guides fiscal decisions
− Part of a larger, three-step accounting system:
o budget design and development
o budget execution (such as expense tracking, monitoring, and managing)
o reporting and reconciliation.
BUSINESS INSIGHT
what are the steps to prepare and manage budgets?
− Analysis and research
− Planning
− Budget review
− Budget management
BUSINESS INSIGHT
what is a strategic plan?
the process of systematically organizing plans for the future using past experience
BUSINESS INSIGHT
what are some essential elements of the strategic planning process?
Talent development vision - focuses on future goals
Mission statement - defines the purpose and direction of the talent development function
value statements - describe the value the talent development function brings to the organization
strategic goals - define broad talent development accomplishments based on the organization’s needs
objectives - identify the way to achieve the strategic goals by dividing them into sets of specific tasks
action plan - states how to implement the strategic plan, who to involve, the completion timeline, required resources, and how to measure success
BUSINESS INSIGHT
what should the TD strategic plan be focused on?
what should it be linked to?
the organization current and future business needs
the overall business strategy
CONSULTING AND BUSINESS PARTNERING
what are some things to consider about the “client” in prep for making recommendations?
− The client’s role in the project
− The client’s opinions
− The client’s priorities
CONSULTING AND BUSINESS PARTNERING
how can you establish credibility as a TD pro?
building relationship through small efforts such as being respectful of the client and always doing good work
CONSULTING AND BUSINESS PARTNERING
what are some barriers to identify in advance when dealing with stakeholders?
− Withdrawing commitment from parts of the project
− Failing to provide information as promised
− Being slow to approve work
− Changing direction in the middle of the project
− Requesting that information be omitted or changed
− Seeming to have a hidden motive
CONSULTING AND BUSINESS PARTNERING
what are expressive influencer tactics?
o Tell
o Sell
o Negotiate
o Enlist
CONSULTING AND BUSINESS PARTNERING
what are some receptive influencing tactics?
inquire
listen
attune
facilitate
CONSULTING AND BUSINESS PARTNERING
what is the role of the TD pro as a trusted advisor?
− Help to make strategic decisions.
− Create solutions.
− Implement change to achieve organization-centered outcomes.
CONSULTING AND BUSINESS PARTNERING
what is the key difference between partnering and consulting?
− Partnering is an ongoing role.
− Consulting is defined by a start and finish that follow a specific process identified by
either the client or consultant.
CONSULTING AND BUSINESS PARTNERING
who are the key contributors to consulting practices?
Edgar Schein, Richard Beckhard, Chris Argyris, W. Edwards Deming, and Peter Block