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Quick Show Me Your Value Authors: Seagraves Th. Published year: 2004 Pages: 63-65/157 |
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The Benefits of Good Business Intelligence
Knowing your ratios, margins, and breakdowns are the building blocks for your financial value chains. They change from quarter to quarter and year to year. Watching trends will alert you to key issues that your Senior managers will be facing and explain what is causing the sleeplessness in your organization.
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If you can see the issues well before the others around you, you will have much more time to research your options, create your interventions, and build your proposals. You ‚ ll be in the position to answer what previously may have appeared to be sudden questions about your value. By understanding the position of your Mid and Senior managers, you will be able to connect their concerns as stewards to what you can do to improve the bottom line as a WLP professional. The links in your chains will become more obvious and familiar over time. |
You may be thinking that now that you understand how value chains need to be built and where the information comes from, that you are ready to go off, do good deeds, and communicate your value.
Not so fast! There are other perspectives on value and financial numbers that you need to understand. Even if they produce financial results, not all interventions will be applauded with enthusiasm. Even for those interventions that receive initial enthusiasm , the attention you continue to receive depends on how well you can match your communication strategy to business activity cycles and how you address common perception challenges.
Let ‚ s Review:
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This chapter gives pointers and tips for how to perform step 2 of the financial value process: research financial information.
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The types and amounts of business intelligence research that will be available to you will be different depending on whether you work internally or externally to an organization. No matter whether you are internal or external to an organization, there will be business intelligence that you can gather for every level: Senior, Mid, 1st/Ops, and Individual.
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External business intelligence research usually involves getting copies of financial reports and reading Websites, industry publications , and newspapers. Internal business intelligence research involves the same activities, plus reading internal memos, reports, processes, procedures, job descriptions, plans, white papers, and more.
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In either case ‚ internal or external ‚ business intelligence research requires patience and persistence to build trust and to get the information you want.
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You must not be afraid to ask for the information you need and you must be willing to explain why you would want it. Using your business intelligence research to build a list of questions to gain additional information can lead to very powerful conversations with key influencers and decision makers .
Now that you have explored the basics of financial numbers , let ‚ s move into the next part of the book to take a look at how perceptions and business cycles can affect the value others see in your performance.
Part II: Positioning, Delivering, and Measuring Value
Chapter List
- Chapter 8: What Have You Done for Me Lately?
- Chapter 9: The Financial Imperatives Scorecard
- Chapter 10: Value and the Levels of Evaluation
Communicating your value continues with knowing the solution you want to provide; understanding how your solution may be perceived by your audience; and arranging to continuously define, measure, and track your value in financial terms. The second part of this book will cover the next five steps in the financial value process:
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Step 4: Identify Intervention
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Step 5: Clarify Perceptions
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Step 6: Develop Scorecard
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Step 7: Deliver Intervention
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Step 8: Evaluate Results.
In chapters 8, 9, and 10, which comprise Part Two of Quick! Show Me Your Value, you will
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be introduced to a model that can explain why so much of what you do is taken for granted and how your financial value becomes invisible
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discover how to create a scorecard that allows you to track financial value from your WLP solutions and keep the perception of your value high, as that value inevitably drifts over time to being taken for granted
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learn what different types of evaluation data must be presented to some audiences but not to others, if your value is to be accepted by every audience you communicate with.
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Quick Show Me Your Value Authors: Seagraves Th. Published year: 2004 Pages: 63-65/157 |
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