What are the challenges of corporate management?

December 12, 2023

If the term pilot is used to refer to an aircraft as well as a company, it's because there are several aspects that bring them together.

Aircraft pilots need key indicators to steer their aircraft and crew towards a precise destination: just like company directors.

Without excellent visibility and a well-defined objective, it's impossible to guide your organization and your team towards growth. In the final analysis, company management is the combination of these two elements to achieve a precise and ambitious objective.

In this article, we'll help you understand the strategic challenges of corporate steering and how to implement it within your company.

What is corporate steering?

Corporate steering: definition

Corporate steering is a strategic strategic management method which consists of collecting, processing and analyzing information in order to assist decision-making.

This data is used to monitor the smooth running of activities and define key actions to support the company's overall strategy.

Frequently asked questions :

Corporate steering has a number of strategic objectives, enabling operational actions to be aligned with the company's overall growth strategy.

It maximizes performance by identifying and optimizing key processes, facilitates decision-making through the use of dashboards containing reliable indicators, and anticipates risks so as to better adapt to market trends and potential internal changes.

Why is company management strategic?

Business management is strategic in that it enables us to steer the company in a particular direction.

Meeting specific objectives

Although corporate steering helps managers to gain an overall vision thanks to elaboratedashboards , it is above all determined by precise objectives.

These must be specific, measurable, achievable, realistic and timed - in other words, SMART objectives. SMART objectives.

Realistic projections

Corporate steering differs from traditional day-to-day management in its general, strategic dimension. Indeed, its implementation requires alignment with the company's vision and its long-term objectives.

In this sense, it involves realistic estimates and simulationsmade possible by optimized optimized resource management.

A three-dimensional role

This strategic management method also meets other needs.

Anticipating risks

By providing a detailed analysis of current activities, corporate steering enables the identification of risks that could threaten the company's growth. These risks should lead to thedevelopment of a risk management plan to deal with them.

Business improvement and underperformance detection

Meticulously-executed corporate steering enables a clear assessment of the company's strengths and weaknesses. The management team then has sufficient information to identify underperformance and areas for improvement to optimize the business.

Asserting leadership

Informed leadership is credible leadership.

Enterprise management will help to improve reliability and precision, thus contributing to strategic decision-making decisions. This in turn will boost confidence in leadership.

Step 1: Measure performance

It's impossible to establish an effective company management strategy without an accurate assessment of the situation.

Data needs to be as comprehensive as possible, to reflect reality as closely as possible, particularly in areas such as internal and external planning, purchases and expenses, time spent and impending business opportunities.

This visibility of your company's activities enables you to take concrete action. The data processing and analysis are crucial to staying flexible and responsive.

Monitoring, measurement and analysis enable you to compare expected and actual results. Identifying discrepancies between forecasts and reality helps you to make adjustments, whether they concern your objectives or your resources.

Examples of performance measurement with Stafiz :

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Step 2: Anticipate results

To manage a company, anticipation is essential.

The aim is to assume the most realistic results possible, while taking into account any changes in the market in which you operate. Careful monitoring of your sector will help you anticipate any threats.

Although this anticipation stage is based on an analysis of past analysis of past resultsyou can't rely on history alone. Your in-depth knowledge of the market will prove invaluable in anticipating the future.

Here's how your results in Stafiz :

Step 3: simulate each situation

The simulation stage completes the anticipation process. The creation of scenarios is a way of materialize the consequences of your decisions. A accurate budget tracking will help you anticipate possible deviations.

This will enable you to adjust your company management strategy, including resource allocationfrom both a human and a financial point of view.

Use all the tools at your disposal. Software that includes Business Intelligence will provide you with relatively consistent and realistic predictions based on your past results. However, bear in mind that these are not absolute truths, but predictions.

Step 4: Respond proactively

The anticipations and simulations carried out previously will help to provide you with the necessary basis for adapting your strategy or even your project governance.

Plan your change of direction:

identify the elements to be adjusted that will enable you to come as close as possible to your estimates;
test and iterate;
prioritize in order of importance.

Demonstrate responsiveness and adaptability is essential here.

Which business management software to choose?

For reporting and dashboards

Reporting and creation of well-constructed are essential to company management and are powerful project management tools.

The difference between reporting and dashboarding

Reporting involves processing and collecting data. It appears raw, uninterpreted and decontextualized.

To be relevant, this data needs to be structured and formatted so that it can be used as a decision-making tool. Any information taken out of context could lead to misinterpretation and inconsistent decision-making.

Choosing the right KPIs

The choice of project management KPIs - also known as key performance indicatorsare strategic.

Margin rates, absenteeism rates, sales figures and recruitment figures are just a few examples.

This step is crucial and must be carefully considered. Beware of vanity metricsThese flattering indicators do not always reflect the company's performance and reality.

In addition, be aware that the KPIs to be studied may vary from one company to another. In fact, they depend on the stage of development and the objectives to be achieved.

Building effective performance measurement tools

Ideally, the construction of dashboards involves the whole company. Each department should be in a position to share key data, enabling them to visibility on the reality on the ground.

Creating project management dashboards can be a tedious project, but the rewards are well worth the investment of time. Relevant relevant dashboards will give you access to clear clear, concise information to help you make decisions in both the short and long term.

In addition, Stafiz is the partner of choice when it comes to setting up an enterprise management system. The different views offered provide a synthetic view of all the data essential for the strategic strategic management from resource planning, to schedules, project costs and activity management.

ERP-type management software

If ERP systems prove to be indispensable allies in the implementation of activity management, they ultimately benefit the entire organization. Indeed, all departments and hierarchical levels will benefit from this 360-degree vision, providing reliable aggregated data in real time.

This will prove particularly useful in the anticipation and simulation stages, enabling realistic estimates to be made .

For decision-makers, ERP is a strategic strategic tool providing visibility on the company's activity and growth potential. Any ERP integration or migration project therefore deserves special attention, as it represents an essential tool for company management.

Business Intelligence tools

Business Intelligence, integrated into a number of software packages, complements the above-mentioned tools. This will enable a more complete analysis of data, allowing more realistic forecasts, contextualized interpretations, and even suggestions for concrete action.

Company management is based on data. The aim is to ensure the smooth running of activities while setting the direction to be taken. That's why it 's vital to have accurate figures you can rely on, structured in such a way as to save you time in your decision-making. High-performance, scalable tools are therefore essential.

Stafiz management software has fully integrated this need to of precision ease of reading and flexibility. Years of consulting experience have enabled us toidentified the management needs and our product has been designed to meet these requirements.

Our aim is to provide you with all the visibility you need, as easily as possible, to help you make informed decisions and your growth.

Stafiz analysis tools help you understand the reasons for over- or under-performance. Here are a few examples: