-- Book and Presentation Review --
"Building Value through Strategy, Risk Assessment, & Renewal"
Book Summary from
GSB Business Book Roundtable
Tuesday, September 12, 2006 – Summary
Brief Description of Presentation: “One of the best sessions
in our Book Roundtable History” During the book discussion authors Hass and Pryor
shared their "12 Principles" to improve value building, and
reviewed a selection of "Expert Insights" and "War Stories"
from the 617 page book published by Commerce Clearing House. Reviewing
the past is straightforward; thinking about the future requires new
disciplines, tools and best practices. These are explored in this practical
reference guide for executives, owners, and directors of organizations of all
sizes. Authors, Hass and Pryor simplify the
sometimes complex and confusing aspects of strategy, risk assessment and
renewal with a variety of war stories, expert insights, best practices, and
one-page reporting and oversight formats that help balance short-term
performance with long term health.
Formats such as V.S. LEARNS (a unique strategy and learning tool), VALUE CHARTS and the basic RISK MATRIX can be used to evaluate and summarize any strategy, risk or renewal effort on the back of a napkin or boil-down several months of scenario planning in an easy to communicate form. A needed book and set of tools to build value by improving communications between the board and the senior management team. Without a sound and proven business strategy, reaching goals and safeguarding assets becomes a matter of luck, yet many corporate leaders are unclear on the best practices for strategy and board oversight. In their new reference guide on strategy, risk assessment and renewal, noted authorities Bill Hass and Shep Pryor explore the evolving challenges. They help corporate leaders clarify the line between board and management roles and provide action-oriented advice across the full strategic and risk spectrum, in the form of questions and stories. Directors must participate more in the strategic thinking and risk assessment processes in today's changing environment. The administrative work mandated by Sarbanes-Oxley is behind us. This book will help boards and management teams work together when dealing with strategic issues and risk.
Hass and Pryor provide counsel for directors and management from the beginning of strategy formulation and strategy retreats through monitoring the outcomes of execution for both healthy and under performing organizations. In addition, special chapters are devoted to strategic processes unique to non-public and not-for-profit organizations. When a business or one of its parts is under performing, both directors and management have a great interest in seeing that the right steps are taken to renew the business and restructure the strategy. The authors argue that corporate renewal, the process of examining and resetting the strategy of business units that are not pulling their weight or earning their cost of capital, should be a continual process. Whether the business is doing well or encountering problems, strategic thinking will require a systematic review of business risks that confront the organization. A good strategic thought process begins with a full understanding of the risks in both the internal and external business environments. Best practices in oversight of strategy processes help set new standards for board oversight.
PRAISE FOR BUILDING VALUE THROUGH STRATEGY, RISK ASSESSMENT AND RENEWAL
"Bill Hass and Shep Pryor have done the impossible with their new book, in that it represents a thorough compendium of strategy thinking, both deep and wide, for board members and senior managers. Not only are dozens of concepts explained and examined, examples abound as well as techniques for direct application. A tremendous accomplishment that will help anyone see the size and scope of the strategy challenge."-James E. Schrager, Ph.D., Clinical Professor of Entrepreneurship and Strategy, University of Chicago Graduate School of Business
Speaker Information: Contact the Co-Authors at WJHass@TeamWorkTechnologies.com and ShepPryor4@aol.com for a targeted, exciting and insightful presentation on