Master’s in Performance Improvement - HPI699 Capstone Project (Cliff Notes WK 1 Required Reading)

May 5th, 2015
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Grantham University
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** For those of you not wanting, or having the time to read the metric ton of required reading for this course, the following are a list of week 1 notes. All of these notes will be applicable to each of the weekly written assignments and final project. Required Readings that these notes pertain to -Mankins, Michael & Steele, Richard (2005). Turning Great Strategy into Great Performance. Harvard Business Review. PP2-10

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Masters in Performance Improvement - HPI699 Capstone Project ** For those of you not wanting, or having the time to read the metric ton of required reading for this course, the following are a list of week 1 notes. All of these notes will be applicable to each of the weekly written assignments and final project. Required Readings that these notes pertain to -Mankins, Michael & Steele, Richard (2005). Turning Great Strategy into Great Performance. Harvard Business Review. PP2-10-Beginning of NotesMankins & Steele 2005 Companies only achieve 60% of their strategies potential due to poor planning and execution (pg.2). Positive organizational strategies consist of two primary elementsLow-cost manufacturing technologyLow prices to gain market share Its all about execution (pg. 2)Research suggests that companies, on average deliver only 63% of the financial performance their strategies originally promised (pg.3) Determination if the strategy or the execution needs changing is critical----If not determined, this will result in wasted energy, lost time, and continued underperformance. Closing the gap between strategy and performance is achieved through better planning AND execution (not just one or the other being improved upon)Closing the strategy to performance gap requires the development of processes to discern issues quickly so corrective actions can be taken. Virtually all successful companies struggle to produce financial perf

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