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“Down Goes Frasier!” Announcers Howard Cosell & Angelo Dundee Genius in Turning a 15-Round Heavyweight Boxing Title Match Into An Elegant Art Form

“Down goes Frasier!  Down goes Frasier!  Down goes Frasier!”  – Howard Cosell

The year was 1973 and these words are what might be considered the most quoted moment in boxing history.  This frequently referenced boxing moment happened during the heavyweight championship of the world between reigning champion, Joe Frasier, and his challenger, George Foreman.  Foreman was thought by many to be a long shot which is part of the reason Cosell’s “down goes Frasier” quote stands out like it does.  But that’s only part of the reason. -

Chuck Berry & Johnnie Johnson: Unduplicated Collaborative Genius

Chuck Berry.  Rock & Roll Legend.  Guitar virtuoso.  Innovator.  Master showman.  Enigmatic personality.

For those who don’t know Chuck Berry’s music very well you’ll probably recognize his enduring hit song, Johnny B. Goode. (Think “Go, Johnny Go!”)  In fact, Chuck Berry might be THE most influential guitar player of all time. Guitarists including Eric Clapton, Keith Richards, John Lennon and George Harrison without question point to Berry as the most influential musician in their lives.  The Grateful Dead’s master picker Jerry Garcia thought Berry was a rock god to be deified.  Look at most rock musicians from the 60′s, 70′s and 80′s and you’re bound to find a few Chuck Berry covers in their repertoire. -

E Pluribus Unum, STEM Scores & the Growing Skills Gap

E pluribus unum—”Out of many, one.”  This phrase in the American vernacular alludes to the union between America’s states and federal government, as symbolized by the shield on the eagle’s breast on the U.S.A.’s Great Seal.  As this phrasepertains to our educational system here in the United States one can argue this ideal of unanimity is never more appropriate.

As the singing duo Hall & Oates belted out it’s all about “Adult Education”.  Really it’s about child and adult education to be perfectly clear.  STEM scores are a major concern for us.  (STEM is an acronym for Science, Technology, Engineering and Math.)  It’s unquestioned that the success of a country’s educational system is directly linked to its continued growth and prosperity yet when you see statistics like these courtesy of the National Math & Science Initiative, you realize that changes need to occur.

Here are just a few examples from the NMSI about of this crisis: -

Hurricane Sandy, Bruce Springsteen & Business Forecasting

By now most of us have heard of this storm and its devastating impact as it barrels through the eastern seaboard. As I write this post, Hurricane Sandy is making its way through Asbury Park, New Jersey on its way north and east impacting nearly all of the eastern half of the United States and Canada either directly or indirectly.

4th of July, Asbury Park (Sandy) – Bruce Springsteen
As Hurricane Sandy has literally just touched down in Asbury Park, New Jersey it’s nearly impossible not to think of the Bruce Springsteen’s song, “4th of July, Asbury Park (Sandy).” Springsteen’s “Sandy” song is about the maturation of a boy becoming a man leaving the Asbury Park ‘boardwalk life’ behind of meeting girls, playing pinball, racing cars and hanging out at the beach – a relished life he’d known for so many wonderful years. -

Swing State Ohio’s Importance, Contingency Plans, Concession speeches & Game Changing Moments in Presidential Elections

Last night’s second United States presidential debate is in the books and no matter what camp you’re in – Republican or Democrat – you’re most likely happy with your candidate’s performance.  Each candidate arguably held serve without leaving their campaigns too vulnerable to the inevitable follow up partisan critiquing that could hurt them on election day.  They’re both still standing with sitting president Barack Obama retaining favorite status – at least for the time being.  Still, you can count on the next few days being your typical post-debate partisan chirping from party leaders, candidate surrogates and other partisan voices telling anyone and everyone who will listen why their guy did better and is the better choice.  These efforts are intended to satisfy three requirements: 1) fire up their party’s establishment base to make sure they show up at the polls on November 6th; 2) earn their brownie points within their party for their own future political hopes like a potential cabinet position, ambassadorship or support in their own forthcoming election; and, most importantly, 3) sway the undecided, independent voters in swing states.  Let me repeat that last point: the independent, undecided voters in swing states are what’s left to fight over.  These particular voters will, barring a catastrophic miscue by one of the candidates which will justly throw just about all of these undecideds for the other candidate, warrant the attention of each candidate over the next month until election day. -

Strategy Execution & Keeping Up With The Jones’s

Keeping Up With The Jones’? We all know this expression. It alludes to one’s needs to acquire what others have for reasons that require an advanced degree I lack. Indeed, adopting this thinking in our personal life has its obvious pitfalls though in business NOT at least keeping up with the Jones’ is a recipe for extinction. Ask someone in IT whether or not analytics is on the top of their agenda and according to the 2010 IBM Global CIO Study you’ll see that it’s numero uno as the most important activity on the CIO’s (and CFO’s for that matter!) agenda.  Over 2,000 participants in this study show there’s credence to these numbers.

I think we all will agree that regardless of your industry it’s indisputable that long-term survival and success requires having a quality product or service whether you’re in manufacturing, retail, oil & gas, life sciences, etc. Certainly having a product or service that -

JULY 31st WEBINAR: Advances in Disclosure & Risk Management with IBM Cognos FSR V6.6 and FCM solutions (including IBM Cognos Controller 10.1)

Register by clicking here!

The ability to anticipate – to see, predict and shape business outcomes is a priority of many operational processes, including finance. Learn how finance professionals can ensure timely, accurate data and analysis by automating financial reporting processes to facilitate decision-making throughout the organization, eliminate risk exposure, meet mandatory regulations for financial disclosure and optimize the extended close.

Join us in this session as we share the latest advances in Cognos FSR including enhanced desktop publishing, new security features, support for US-GAAP 2012 Taxonomy, global International Financial Reporting Standards, and more! Plus, hear about IBM’s solution for complete Financial Close Management (FCM) with Cognos Controller. -

Analytics & the Decision Management Platform: Learn All About It on Tuesday, June 19th @ 10:30am EST!

Analytics goes institutional!  From the organization’s support areas like IT, Finance, Procurement or HR to the lines of business all the way up to the executive suite, the decision management platform from IBM takes an evolutionary step forward as the cross-enteprise, decision making platform for business called Decision Management. -

Termites Named Official Insect of Performance Management! Really? Well, they should be!

Driven by a collective focus across the enterprise.  Aligned by shared objectives in an ever-changing landscape.  Adaptable to market force changes.  No, it’s not some big corporation or government entity.  Not even close.  It’s termites and they’re the big winners in this performance management award category.  As a unit they’re the prototypical performance management enterprise and that’s why they’re this business practice’s official insect.  To illustrate why let’s take a closer look at one of the special termite communities located in the African nation, Zimbabwe.

What makes them so special, you ask?  Well, these little creatures are able to band together to inexplicably do the impossible with relative ease and natural fluidity even in the face of constantly changing environmental conditions over what appears to be insurmountable odds.

The Strategy: Grow an essential fungus within their mud-and-dirt tower structures to sustain themselves.

The Goal:  Keep the entire mound’s internal temperature at a constant 87 degrees -

Building a Finance Center of Excellence: Sharing knowledge and best practices in financial performance management

(This is a guest post by Charlotte Locke from the Performance Management Product Marketing team at Business Analytics Software.)

Overview
As organizations seek the best ways to respond to a volatile marketplace that can change course on a dime, the functions that were once relegated to finance organizations, such as enterprise planning, budgeting, forecasting and analysis, have, out of necessity, spread to other parts of business, such as business units and departments. This is because financial performance management — led by Finance — has become increasingly strategic in organizations, regardless of their size or market sector. While initial deployments of performance management solutions might have once been focused on Finance, the current trend is to deploy them more broadly. Performance management is now rapidly migrating from finance to executives and everyday business users, who are taking on more and more responsibility for financials, analytics, planning a nd budgeting, risk analytics, profitability analysis and reporting on these processes. Read more

GRC Maturity – Measuring a New Paradigm for Risk and Compliance (Part II)

 

(This is the second in a series of blog posts where we present risk and compliance speaker and thought leader, Michael Rasmussen’s, GRC maturity model.)

GRC Maturity — Measuring a New Paradigm for Risk and Compliance

Lacking an integrated view of GRC results in business processes, partners, employees and systems that behave like leaves blowing in the wind. Modern business requires a new paradigm for tackling risk and compliance issues across the enterprise. No longer can organizations afford to focus on single risk and compliance issues as unrelated projects; nor can they allow software Band-Aids Read more

GRC Maturity – From Disorganized to Integrated Risk & Performance (Part I)

Success in today’s dynamic business environment requires organizations to integrate, build and support business processes with an enterprise view of governance, risk management and compliance (GRC). Without an integrated view of risk and compliance, the scattered and nonintegrated approaches of the past fail and expose the business to unanticipated risk.

In a mature GRC program, the organization has an integrated process, information and technology architecture that provides visibility across risk and compliance domains. It offers an integrated approach for business managers and executives to leverage GRC data for risk-aware decision-making and resource allocation. Read more

“All Plans Are Great Until The First Shot Is Fired”: A Case For Forecasting

In the “Preface” to The Gathering Storm, volume I of Winston Churchill’s World War II memoirs, Churchill writes that when President Roosevelt asked for suggestions about what the war should be called, he replied that it should be called “the Unnecessary War.”  If someone asked me what to call budgeting I’d say it’s “the Unnecessary Practice.”

Well, maybe that’s going a little too far because the budget does serve one purpose: to enforce strict fiscal adherence across the entire organization to predetermined annual targets set forth by the executive team in advance of the fiscal year in question.  These targets are commitments transposed in the budget into initiatives and action plans while being reinforced through individual performance contracts.  Because of this commitment to a target defined by other parties budgets tend to have an overwhelming power over the workforce to meet these commitments at any expense.  As a result, budgets can drive the wrong behavior where managers Read more

Business Forecasting & A Look Back At Amazon’s then incumbent Kindle vs. Apple’s upstart iPad

April, 2010.  This was the date Apple’s iPad first came out.  Yes, that was many moons ago – at least in technology years where today’s hot gadget is tomorrow’s paperweight.  When the first iPad was released I still owned a shiny new Kindle ebook reader from Amazon.  When I bought that Kindle I thought I had something pretty darn cool and revolutionary.  It was well designed, intuitive to use, including direct wireless access to Amazon’s Kindle bookstore which seemed to have every title at a fraction of the cost of the physical book. Read more

Analytical Decision Making & The ALCOA Transformation

This is the story of how the analytical thinking of the Aluminum Corporation of America’s CEO Paul O’Neill drove Alcoa’s transformation back in October, 1987.  Through his surprising strategy - which, by the way, was met with much derision and skepticism as to the sincerity of it – he was able to get the entire company to focus on one little objective that soon resulted in record profits, improved product quality, and superior productivity enhancements.  He did so and in short order.

Let’s go back to 1987 long before Paul O’Neill ever became United States Treasury Secretary.   Read more

Bedford Falls or Pottersville? It’s Up To The Office of Finance

Most people have either seen or heard of the movie It’s A Wonderful Life where its lead character, George Bailey, evolved from the depths of despair to exalted heights.   George found himself in what he perceived as a dead end life accomplishing nothing he’d dreamed of doing as a child forever stuck in his job as the head of his father’s failing Bailey Building & Loan business and in his personal life as both husband and father.  There he was with no options in the sleepy little Bedford Falls town with no ability to ever fully appreciate the sweeping impact his daily efforts were actually making.  The movie vividly highlights the important one-to-many network effect that can be achieved by doing the small things consistently right.  In baseball vernacular, it’s ‘small ball’.  Nothing exciting but gets the job done.  The movie’s conflict arises when George decides he wants out of this life. Read more

A Leopard Changes Its Spots: How The Washington Post Became a Newspaper for the 21st Century Reader Thru Strategy Execution & Analytics

Probably the most storied (no pun intended) and universally-revered newspapers has been arguably The Washington Post.  It’s the ‘paper that the politically interested read’ a lot would say.  It is the paper of Bob Woodward and Carl Bernstein (Think ‘All The President’s Men’), Katherine Graham, and Ben Bradlee fame – all celebrity newspaper people if you know the newspaper industry.  The Post’s stable of writers include Pulitzer Prize winners like Rick Atkinson, Dana Priest, David Maraniss, and, of course, Mr. Woodward. Read more

Learn what’s new in IBM Cognos Planningv10.1.1, including comments about the upgrade process, performance improvements, and usability enhancements.

Learn the value of the new IBM Cognos Planning 10.1.1 (GA November 22). You will be pleased to learn of this release as it affirms IBM’s continued commitment to ongoing support and value-added enhancements to the IBM Cognos Planning solution. The release fulfills our customers latest requests with:

- features for greater ease and speed;
- improved performance; and,
- exceptional integration that improves a customer’s financial performance management capabilities.

IBM Cognos Planning v10.1.1 delivers additional functionality for contributors (end users), faster access to data for reporting, an improved installation features, and conformance with IBM Cognos BI version 10.1.1 and Microsoft Excel 2010, and other key solutions.

Business Analytics: Part Historian, Part Pragmatist, Part Futurist

We often hear Business Analytics being so many different things that we feel it’s near impossible to get a handle on what it really is.  I’m sure you were just getting used to the idea of what Performance Management is and now we throw Business Analytics into the equation.  To make matters worse, there’s a great deal of prognosticators, thought leaders, and industry analysts who still are married to the idea of calling the space Business Intelligence.  I thought it might make sense to pass along a simple explanation of each without all of the Big 5 consulting speak that usually goes with it. Read more

Financial Performance Management for the Empowered CFO (using IBM Cognos TM1, IBM Cognos Controller & IBM Cognos BI for Scorecarding)

The evolution of the CFO from cost extractor and compliance enforcer whose primary concern had been to ‘manage the numbers’ into providing strategic support and organizational leadership helping drive profitability and growth for the enterprise certainly didn’t happen overnight. There’s been a series of events over the years driving this change, including the advent of Sarbanes-Oxley (Think Enron/Arthur Andersen/Worldcom) to today’s Dodd-Frank as well as greater internal and external demand for performance data. In addition, there’s increased CEO and board interest and oversight into the ‘World of the CFO’ where board members require more than just a simple view of the annual operating plan; They want it all now given that they have to put their John Hancock on documents like no time before. (The threat of a little jail time for malfeasance has a way of getting people to sit up straight and pay closer attention too.)

Read more

Strategic Risk Management: It’s The New New Thing, Right???

The global economic crisis, which began with the U.S. housing market’s nose-dive in late 2007, continues to burn brightly across nations far and wide.  This financial meltdown has served as a jack-hammered catalyst for corporations today to re-evaluate their risk management practices – assuming, of course, they had one in the first place.  Most didn’t.  Apart from very large, globally diverse corporate behemoths, formal risk management practices didn’t really exist outside of the top-level business strategy sessions conducted between CEOs, CFOs, and other members of the executive team. Read more

Aesop’s Fable, IBM Cognos TM1, & IBM Cognos BI for Collaboration

Aesop’s Fable: Rooster & the Pearl

A rooster was once strutting up and down the farmyard among the hens when suddenly he spied something shining amid the straw.

“Ho! Ho!” quoth he, “that’s for me,” and soon rooted it out from beneath the straw.

What did it turn out to be but a Pearl that by some chance had been lost in the yard!

“You may be a treasure,” said Master Rooster, “to men that prize you, but for me I would rather have a single barley-corn than a peck of pearls.”

Moral: Precious things are for those who can prize them.

There’s something else in this story that I think is worth calling out.  What will this Master Rooster choose to do with this precious pearl???  The assumption is that he’ll toss it back amongst the farmyard’s hay and rubble.

But, what would happen if the rooster had seen the bigger picture beyond his simple need for a little sustenance and saw the longer term benefits of retaining the pearl for potential bartering for something bigger and more personally valuable?  Maybe that palatial hen house he’s been eyeing all these years???

We know this much: he certainly could have known that the jewel could fetch much more than the “barley-corn” he was in search of.  We could argue that, because he lacked access to basic facilitators from which to collectively contemplate what to do with this discovery, not much, if anything, was to be gained from its being found. Yes, “one man’s treasure is another man’s trash.”

Imagine if the Rooster had collaborative access to his peers across the prairies he might have been able to extract greater value out of this discovery.  Workgroups could have been quickly setup to weigh options and determine how best to use this newfound resource.  One might learn through this group involvement that the pearl should be invested for a later date when times are not as prosperous.  Perhaps, if it turns out to be valuable to the ever-predatory fox community, it even could be used in smaller bits to slowly payoff these foxes to keep them at bay from invading the sanctity of their beloved henhouse?

Because the cross-community enabled collaboration and feedback mechanism didn’t exist for this Rooster, he was willing to quickly part with this unused resource.
Okay I’ll relax on expanding on this analogy because I think by now you get the picture.

Enabling Organizational ‘Pearls’ to Flourish Enterprise-Wide

This scenario is obviously entirely made up but there’s a great degree of truth in it, especially how collaboration and workgroup enablement can impact a business enterprise.

‘Pearls’ exist in every organization.  Are we leaving it up to the workforce to find a way for these discoveries to make their way to those who need to be involved?

Let me ask you this: How often do we see product-focused workgroups, those that typically involve a matrix-style team with people from marketing, sales, product development, and product management to name a few dotted-lined into a specific product or product category with all of these workers inefficiently presenting their respective plans to each other without really collaborating with each other through each product lifecycle or initiative that support this particular product team. 

We know the workforce is filled not only with great ideas that can assist the over-arching company strategy as typically dictated from the executive suite but the workforce also has important front-line information that can benefit their specific departments or cross-functional teams.  Enabling this type of communication and collaboration is the key to building a ‘connected’ organization.

McDonald’s Big Mac Sandwich, 3M’s Post-It Notes, Sony’s Walkman, and Dunkin’ Donuts’ Munchkins are just some big-bang examples. All over the organization there’s cost savings and process efficiencies (streamlining order-to-cash), growth opportunities (expanding into new markets and product lines), and a risk awareness (unforeseen commodity/raw material price changes) that front-line employees, middle management, and even back-office workers have visibility into that necessitate a feedback loop so they are captured and acted upon – intra-department or cross-company.

IBM Cognos® TM1 and its planning, budgeting, and forecasting capabilities not to mention analytics power can promptly facilitate the ideas exchange process through managed contributions and enterprise-scale input and high-powered analytics with enabled comments facilitates best practices and the enterprise wide collaboration necessary to drive, monitor, and understand the business better.

IBM Cognos TM1 has:

  • A multidimensional, 64-bit, in-memory OLAP engine provides exceptionally fast performance for analyzing complex and sophisticated models, large data sets and even streamed data.
  • A full range of enterprise planning software requirements is supported—from high-performance, on-demand profitability analysis, financial analytics and flexible modeling to enterprise-wide contribution from all business units.
  • Personal scenarios created with advanced personalization enable an unlimited number of ad-hoc alternatives so individuals, teams, divisions and whole companies can respond faster to changing conditions.
  • Best practices suc
  • h as driver-based planning and rolling forecasting can become part of your enterprise planning process.
  • Model design and data access adapt to your business process and present business information in familiar formats.
  • Managed contribution makes it possible to assemble and deploy planning solutions for your enterprise and collect input from systems and staff from all divisions and locations, quickly consistently and automatically.
  • Integrated scorecarding and reporting— the complete picture from goal setting and planning, to measuring progress and reporting—is possible with IBM Cognos Business Intelligence.
  • Total control over planning, budgeting and forecasting processes is provided to Finance and lines of business.
  • A choice of interfaces—Microsoft® Excel®, Cognos TM1 Web and the Cognos TM1 Contributor client—allows you to work with your preferred look and feel.

Learn more by clicking here.

Something else to check out for enabled collaboration is IBM Cognos BI.

IBM Cognos® Collaboration has:

  • built-in collaborative and social networking capabilities to fuel the exchange of ideas and knowledge that naturally occurs in decision-making processes today.
  • helps groups streamline and improve decision-making by providing capabilities for forming communities, capturing annotations and opinions, and sharing insights with others around the information itself.
  • establish decision networks and expand the reach and impact of information.
  • provides transparency and accountability to ensure alignment and consensus.
  • communicate and coordinate tasks to engage the right people at the right time.

Learn more by clicking here.

These solutions have proven value for the small, medium, and large enterprises today.  Check them out and learn how to become an enabled-enterprise.

 

The Chicago Public School System & The Power of a KPI: Part IV

I’ve recently written about key performance indicators in enabling corporate agility, alignment, and accountability.  Enterprise-wide KPI use when done properly raises the workforce productivity/efficiency bar and drives shareholder value whereby the organization operates with greater speed and precision.  In short, it’s a key driver of better execution.

To illustrate how an adherence to KPIs to drive focused execution I bring you the Chicago Public School system and their use of a KPI to benchmark success and drive behavior.

For the last 20+ years Read more

KPIs & Triple-A (Alignment, Agility, and Accountability): Part III

The power of personally-assigned key performance indicators, or KPIs, is tremendous.  If done incorrectly, KPIs might be used like a drunk would use a light post, for support not illumination.  You could call KPIs industry-speak for one method to measure employee, departmental, and/or organizational performance. If effectively constructed, they can drive the right workforce actions supporting strategic and operational objectives.  Yes, they could be tied to achieving an operational goal, such as on-time customer shipments, best-in-class inventory turns, or an industry-leading order-to-cash (Finance) or procure-to-pay (Procurement) process.  Selecting the right KPIs is very important because they will drive employee behavior. Read more

Enabling a Mobile Workforce with IBM Cognos Mobile (Podcast)

In this Business Analytics Today podcast, as hosted by IBM’s Tim O’Bryan, you’ll hear how the workforceis spending more time away from their desks, but armed with smartphones and tablets that let them access information in powerful ways and make decisions wherever they are. And the speed of the markets today makes that decision-making ability a necessity, not a luxury. Join us for this podcast to learn how IBM Cognos Mobile allows users to enjoy uninterrupted productivity by interacting with trusted BI content through a rich and visual experience whether offline or online. This flexible and Read more

Drive Better Performance Thru Greater Finance Integration with the Sales & Operations Planning Process

In this blog, I’m going to highlight the critical importance of integrating the organization’s financial plan and the actual finance function in general into the operations department-led sales & operations planning process.  Yes, in this sales & operations planning process, or S&OP, where future supply and demand plans are compiled, aligning the S&OP with the financial plan results in greater corporate alignment, improved information transparency, and more timely and effective organizational execution. Read more

Automated Financial Statement Reporting & Disclosure Management using IBM Cognos FSR (Podcast)

Hear Dan O’Brien, IBM Product Marketing Manager for the IBM Cognos FSR product and an expert in the financial statement reporting & disclosure management processes for corporate finance departments, discuss the capabilities of IBM Cognos FSR, including how organizations are using this solution, as well as how to get started using IBM Cognos FSR right now.

IBM Cognos FSR: The Silver Bullet for Automated Financial Statement Reporting & Disclosure Management (Webinar with demo)

IBM Cognos FSR is making in roads with many organizations as they grapple with the demands of disclosure-related processes and their related reporting requirements.  We’re seeing successes all over where finance departments are realizing massive time savings not to mention having the absolute confidence in their reported figures as a result of implementing IBM Cognos FSR.  New SEC reporting requirements due by year end are one of the catalysts for this but there’s certainly other reasons for companies adopting this solution, including greater financial governance, enablement of XBRL, as well as other internal performance reporting needs.  It’s been fun seeing organizations transform this process into something that’s now almost as simple as 1-2-3.

Here how IBM Cognos FSR and the processes it enables. Also, see a demo of it in this Financial Performance Insider webinar series.

Click here to view this IBM Cognos FSR webinar!

#baforum

KPIs & Aligned Scorecards For Better Agility & Execution: Part II

Imagine entering the cockpit of a modern jet airplane and seeing only a single instrument there.  How would you feel about boarding the plane after the following conversation with the pilot?

Q: I’m surprised to see you operating a plane with only a single instrument. What does it measure?
A: Airspeed. I’m really working on airspeed this flight.

Read more

Leadership Lessons from the American Civil War & Master Bathroom Remodels

“He who hesitates loses.” The truth of this phrase rings true in the case of battles that never occurred in the American Civil War. For those unfamiliar with this war the American Civil War occurred during the mid-1800′s from 1861-1865 on U.S. soil. It was fought between the North (Union States) and Read more