Fit for growth : a guide to strategic cost cutting, restructuring, and renewal / Vinay Couto, John Plansky, Deniz Caglar.

Format:

Book

Author/Creator:

Couto, Vinay, author.

Plansky, John, author.

Caglar, Deniz, author.

Language:

English

Subjects (All):

Cost control.

Physical Description:

1 online resource (291 pages) : illustrations

Edition:

1st edition

Place of Publication:

Hoboken, New Jersey : Wiley, 2017.

System Details:

text file

Summary:

A practical approach to business transformation Fit for Growth * is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. * Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States

Contents:

Fit for Growth: A Guide to Strategic Cost Cutting, Restructuring, and Renewal

Contents

Preface

Part I: Introduction and Fit for Growth Overview

Chapter 1: Do You Need to Cut to Grow?

Circuit City: The Ostrich Approach

IKEA: Elevating Cost Optimization to an Art Form

The Fit for Growth Index

Chapter 2: Becoming Fit for Growth: The Restructuring and Renewal Journey

Focus on Differentiating Capabilities

Align the Cost Structure

Reorganize for Growth

1. The Operating Model

2. The Four Building Blocks of Organizational DNA

3. Talent

4. Management Processes

Enable Change and Cultural Evolution

Continuous Cost-Fitness Renewal

Chapter 3: The Leader's Role: Aligning Costs with Strategy

How Do You Know When It's Time?

The Three Core Questions Leaders Ask

Question 1: How Do I Energize My Organization for Transformation?

Question 2: How Do I Achieve Cost Fitness While Enabling Growth?

Question 3: How Do I Manage the Transformation and Make It Enduring?

What Makes the Fit for Growth Approach Different

Part II: How to Cut Costs and Grow Stronger: A Manager's Guide

Chapter 4: Levers of Cost Reduction: What, Where, and How

Setting the Objective

Identifying Differentiating Capabilities

Selecting the Cost-Reduction Levers

What" Do We Do? Business Portfolio and Capability Choices

Where" Do We Do It? Organization and Location

How" and "How Well" Do We Do It? Operational Excellence

Chapter 5: Portfolio Rationalization: Decide What Business You Should Be In

What Is Portfolio Rationalization?

When to Use Portfolio Rationalization

How to Rationalize the Portfolio

Step 1: Understand Portfolio Complexity

Step 2: Manage the Trade-offs

Step 3: Take Out Associated Costs

Chapter 6: Zero-Basing: Justify What to Keep, Not What to Kill

What Is Zero-Basing?.

A Versatile, Holistic Cost Lever

When Should You Zero-Base Your Capabilities?

How to Zero-Base Your Capabilities

Step 1: Define Functional Targets

Step 2: Segment Activity and Costs by Capability Category

Step 3: Assess the Value of Each Capability Category

Step 4: Zero-Base Current State

Step 5: Plan and Launch Initiatives

Chapter 7: Aligning the Operating Model: Redefine Where Critical Work Gets Done

Operating Model Elements and Archetypes

When to Redesign Your Operating Model

How to Redesign Your Operating Model

Step 1: Understand Value Creation Levers

Step 2: Frame Options to Accelerate Value Creation

Step 3: Develop Organizational Architecture

Step 4: Build an Implementation Road Map

Chapter 8: Outsourcing: Let External Providers Generate Value for You

What Is Outsourcing?

When to Outsource

The Outsourcing Process: How It Works

Step 1: Develop Sourcing Strategy

Step 2: Down-Select Suppliers

Step 3: Execute Due Diligence and Contract Negotiations

Step 4: Launch Transition

Step 5: Design Communications and Retained Organization

Chapter 9: Footprint Optimization: Rethink Your Operations and Overhead Locations

What Is Footprint Optimization?

When to Use Footprint Optimization

Footprint Optimization: How It Works

Step 1: Identify Business Requirements

Step 2: Site Performance Check

Step 3: Ideal Vision and Value-Add Strategy

Step 4: Concept Development and Evaluation

Step 5: Business Case and Road Map

Chapter 10: Process Excellence: Simplify Work and Minimize Bureaucracy

What Is Process Excellence?

When to Use Process Excellence

A Guide to Process Excellence

Step 1: Define Core Processes

Step 2: Frame Process Improvement Needs

Step 3: Identify Process Performance Issues and Root Causes

Step 4: Redesign Process and Pilot Solution.

Step 5: Evaluate Pilot Results and Formalize the New Processes

Aligning Process Excellence with Other Cost Levers

Chapter 11: Spans and Layers: Flatten and Empower the Organization

What Is a Spans and Layers Restructuring?

When to Restructure Spans and Layers

How to Restructure Spans and Layers: Five Steps to a Leaner Organization

Step 1: Define the Art of the Possible

Step 2: Baseline the Organizational Structure

Step 3: Design the Target State for the Top of the Organization

Step 4: Redesign the Rest of the Organization Holistically

Step 5: Identify Candidates and Build Transition Plans

Chapter 12: Strategic Supply Management: Extract More Value from Your Purchases

What Is Strategic Supply Management?

When Should a Company Use Strategic Supply Management?

Making It Happen: A Guide to Strategic Supply Management

Step 1: Gather Baseline Spend Data

Step 2: Engage Stakeholders

Step 3: Determine the Size of the Prize

Step 4: Segment Spend and Savings

Step 5: Optimize Savings Capture

Chapter 13: Digitization: Make Technology a Game Changer

What Is Digitization?

When to Use Digitization

How to Digitize

Step 1: Analyze and Prioritize Requirements

Step 2: Simplify Processes and Rules

Step 3: Blueprint Technology Choices

Step 4: Implement to Deliver Value from the Start

Step 5: Manage Risks

Part III: Coping with Cost Restructuring: How to Manage and Sustain the Change

Chapter 14: Running a Cost Transformation: Mobilizing, Scaling, and Sustaining

Phase 1: Diagnostic and Case for Change

How It Is Governed

The Transformation Team

The Working Process

Phase 2: Detailed Design

Phase 3: Execution

The Working Process.

Chapter 15: Morale, Emotions, and Expectations: Leading during a Restructuring

Uncertainty and Anxiety

Phase 1: Opportunity, but for Whom?

What Employees Go Through

What Managers Are Up Against

What Managers Can Do

Phase 2: Anxiety Surfaces

What Managers Are Up against

Phase 3: Turmoil, but also Glimmers of Something Better

Chapter 16: The Human Element: Getting People Ready, Willing, and Able to Change

Elements of a Culture-Led Change Management Program

Align Leaders

Communicate Changes

Engage Stakeholders

Train Employees

Drive New Behaviors

Develop the Case for Change

Assess the Culture

Align Leadership

Prepare for the Change

Stakeholder Engagement

Employee Impact Assessment

Communications and Engagement Plan

Training Plan

Culture Impacts and Critical Behaviors

Leadership Engagement

Critical Few Behaviors

Informal Leaders

Delivering Communications

Delivering Training

Measuring Change Adoption

Chapter 17: Staying Fit for Growth

Strategic Levers: Translating Strategy into Performance

Revise Resource Allocation to Funnel Investment to Strategic Priorities

Adopt a Dynamic "Sense and Adjust" Planning Process

Operational Levers: Executing Against the Plan

Educate Employees on "Good" Costs versus "Bad" Costs

Build a Continuous Improvement Capability

Assign Cross-Functional Process Owners

Organizational Levers: Assign Accountability and Reward Cost Consciousness

Clarify Roles and Decision Rights to Reinforce Cost Accountability

Motivate Performance, Not Politics

Cultural Levers: Unleashing the Individual.

Model Frugal Behavior at the Top

Recognize Employees for Cost-Conscious Behavior

Engage the Front Line through "Pride Builders

Sense and Sustainability: Getting from Here to There

Notes

Acknowledgments

About the Authors

Index

End User License Agreement.

Notes:

Includes bibliographical references and index.

Includes index.

Description based on print version record.

ISBN:

9781119268550

1119268559

9781119268543

1119268540

OCLC:

963932479