Business thinking between the covers, compiled by FRANK DILLON
Successful Strategy Execution
by Michel Syrett
The Economist €19.99
A survey by The Economist Intelligence Unit suggests companies typically realise only about 60 per cent of their strategy’s potential value because of failings in planning and execution. Cue this book then by its sister organisation that explains how to do it.
The book includes original research and work carried out by business schools and consultants. The key message is that successful strategy execution is about having clarity of purpose, good communication, strictly controlled resource allocation and involves breaking strategy down into easily achieved objectives. To do this involves having a risk-friendly culture that encourages freedom of action if that action supports key goals.
Syrett recognises the turbulent times we live in which means the execution of strategy needs to be a more fluid discipline than heretofore. He says we are now living in a state of friction where the target audience is not static, the goalposts change, there is poor operational accountability and the quality of information available is inadequate. Added to this the fact middle managers complicate things and, as Syrett observes, the better educated these individuals are, the worse the problem can become.
Values – Not Just For the Office Wall
by Irial OFarrell
Evolution €14.99
Executive coach Irial OFarrell examines the connection between personal and company values. All individuals and organisations have values, whether they realise it or not, she writes. Ignoring them leads to impaired decisions, unnecessary conflict and stress, resulting in underperformance and lost opportunities.
The converse is that values that are upheld enable effective decisions, improved motivation, increased trust and collective focus on organisational goals, resulting in loyal customers and increased bottom line.
Values can sometimes be the source of conflict. A manager who insists on being brutally honest at all times can cause upset and damage morale when providing feedback to a colleague and may need to moderate their desire to uphold this value.
As the executive team is so influential in defining a company’s culture and approach to business, it’s important that each member is aware of their own values.
OFarrell suggests organisations develop a personal values programme. This will highlight whether managers’ personal values are in tune with those of the company. Those that are out of sync will most likely leave, she suggests.
Intellectual Property
by John P McManus
Oak Tree Press €65
From creation to commercialisation, a practical guide for innovators and researchers, is the subtitle of McManus’s book, the germ of which lies in a postgraduate training module the author developed for NovaUCD.
It’s a wide ranging treatment of this subject and moves from a broad understanding of innovation and the IP process to looking at operational detail and procedures, including assessing the most appropriate routes to market, such as licensing or sale of IP or setting up a spin-out company. Creating a strong business case for funding is also covered.
Interestingly, the case studies highlight poor practice in this area, including weak IP management, incorrect inventorship and inadequate patent plans.
The book is well researched and accessible and should prove a useful starting point for inventors and innovators who wish to leverage their IP.
While the hardback edition is not cheap, it is also available on the Kindle in ebook format for €24.99 from the Amazon.
