Whether a company is rapidly growing, focused on establishing sustainable competitive advantage or improving its bottom line, it must consider how an integrated approach and discipline to deploy strategy while also anticipating and managing the associated opportunities and risks will improve its probability of achieving strategic objectives. This white paper provides a framework for integrating strategy, risk and performance management. Specifically, it discusses:
- Effectively communicating and deploying strategy in a consistent manner enterprisewide;
- Proactively identifying and mitigating the risks inherent in the strategy,
- Ensuring the seamless integration of strategic plans, risk management and performance management in the execution of the strategy; and
- Real-time transparency into the operations of the enterprise.
When the strategy is made more robust and realistic through the consideration of the underlying risks and its execution is effectively measured and monitored, management and the board of directors will have increased confidence that shareholder value will be not only created, but also protected. This critical balance enhances corporate performance management and positions the enterprise to become an early mover.