Oliver Wight Share Five Critical Success Factors in IBP Implementation

Business improvement specialists, Oliver Wight, have released a white paper revealing how businesses can reap the benefits from Integrated Business Planning by following five critical success factors.
By: Oliver Wight AP
 
MELBOURNE, Australia - May 8, 2013 - PRLog -- Oliver Wight, who have experience working with hundreds of organisations all over the world, state in the paper that companies that successfully implement Integrated Business Planning gain a substantial Return of Investment; anything from 300 to 3000%. Entitled ‘Critical Success Factors in IBP Implementation’ the white paper outlines the key principles the senior team can learn in order to establish a successful business management process.

1. Effective Leadership

2. Commitment of resources

3. Education

4. The right design

5. Embedding the process

In order to not only implement IBP successfully but also to evolve this further over time, direction and involvement from the top are essential. Mike Reed, Managing Partner of Oliver Wight and author of the paper explains that “It is the people within the organisation which will ultimately ensure business excellence and drive continuous improvement.”

Commitment to change is key. However, Reed says that “commitment without understanding is a liability,” and the white paper explains how education is fundamental to ensure the results from IBP are sustainable and it becomes ‘a new way of working.’ While the core principles of IBP remain the same for every company, achieving the right design of the process to fit your organisation is mission critical. It will be unique to you.

And finally when it comes to making IBP work, it is important to ensure the process is properly embedded via an evolutionary rather than revolutionary approach, using effective coaching and setting realistic goals.

With this approach, IBP can be implemented, which will speed up decision-making and give businesses the potential to deliver world class performance.
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Source:Oliver Wight AP
Email:***@roninmarketing.co.uk Email Verified
Tags:Leadership, Resources, Business Planning, Education, Success Factors
Industry:Management Consultancy
Location:Melbourne - Victoria - Australia
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