THE
ART OF MANAGING
PROFESSIONAL SERVICES
CHAPTER SUMMARY
Finance
• Eighty percent
of leaders interviewed
ranked financial man-agement as a high priority.
• The
best-run firms share seven noteworthy characteristics:
1. Strong
planning and budgeting
2. Rigorous
tracking and reporting
3. Careful
management of cash flow
4. Forward-looking
versus purely historical
5. Transparency
to partners
6. Accountability
7. Investment
in people and tools
• There are
three typical stages
of annual financial
planning and
budgeting (see Exhibit 6.3).
• Successful leaders
watch a host of
financial indicators to
monitor
firm financial health (see Exhibit 6.6).
• Firm leaders
monitor a variety of
indicators to ensure
that clients
are happy, talented
people are joining
and staying, partners
are
united and contributing,
and the firm
is financially stable
(see
Exhibit 6.11).
Positioning
Brand, marketing, and sales
“Y our
brand is the place you occupy in the consciousness of your constituents.”
—Frank
Burch, Chairman, DLA Piper Global Board
“How you
use marketing to convey the value you’re capable of delivering to your
client is the real challenge.”
—Dennis
Nally, Global Chairman, PwC
“In
a professional service firm, every one
of your people out doing the work is a
reflection of the brand.”
—Marie
Lerch, V ice President, Marketing and Communications,
Booz Allen Hamilton
In professional services, positioning is what you stand for. It’s
based on
the organization’s vision,
values, and culture
and represents the
firm’s
promise to the marketplace. Positioning defines what the firm does, how
it
does it, and why it is different from other organizations. Brand is the
image
the clients have
of the firm.
It is essentially
the grade you
receive from
clients and the marketplace on your ability to fulfill the need you
promised
to address. Building
a strong brand
is a cycle
of setting expectations
and
delivering on or exceeding those expectations repeatedly over time.
Marketing is the
process of identifying,
targeting, and approaching
clients and prospects
to build awareness
of services to
attract and retain
business. It involves
a set of
integrated activities that
include market
research, segmentation, market
strategy and planning,
brand manage-ment, market
communications, sales support,
and program tracking
and
الفصل الموجزتمويل• تمت مقابلتهم في المرتبة ثمانون في المئة من قادة المالية شاب اإلدارة ذات أولوية عالية.• وأفضل الشركات التي تديرها مشاركة سبع خصائص يذكر:1. قوية التخطيط والميزنة2. التتبع والإبلاغ الدقيق3. حذرا إدارة التدفق النقدي4. تطلعي مقابل تاريخية بحتة5. الشفافية للشركاء6. المساءلة7. الاستثمار في العنصر البشري وأدوات• هناك ثلاث مراحل نموذجية للتخطيط والمالية السنويةالميزانية (انظر الرسم البياني 6.3).• قادة الناجحة مشاهدة مجموعة من المؤشرات المالية لرصدشركة الصحة المالية (انظر الرسم البياني 6.6).• رصد قادة شركة مجموعة متنوعة من المؤشرات لضمان أن العملاءسعداء، والناس الموهوبين وانضمام والبقاء، والشركاء همالمتحدة، والمساهمة، والشركة مستقرة ماليا (انظريحمل 6.11).
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