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Portfolio Management – Managing Shared, Perishable Resources

Portfolio managers direct deployment of assigned resources across the several programs, projects, and processes they oversee in a manner that maximizes the organization’s return on investment. (See Figure 1) Complicating the portfolio manager’s work is the myriad of differing resource types; resources that are often limited and shared by the portfolio’s many components.


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Organizational Accountability – Fundamental Accountability Drivers

StrategyDriven Organizational Accountability ArticleAs previously stated, we believe organizations act in accordance with the shared values of the people that comprise them. What an organization values is represented by the rewards sought in return for its products and services, the organizationally defined acceptable methods of reward pursuit, and the manner in which benefits realized are parsed to the organization’s members. Therefore, organizational accountability, the timely and consequential pursuit of mission goals, is driven by the ability of the organization to quantifiably measure earned rewards and the culturally determined method of assessing and recognizing employee performance.


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Decision-Making Warning Flag 1 – Logic Fallacies Introduction

Complex decisions require executives and managers to synthesize a multitude of variables into meaningful information from which they must choose a course of action. Some executives and managers combine clarity of thought and depth of knowledge and experience with a true understanding of the organization’s goals to identify and select a well founded decision option. Others find their perspective clouded by personal bias, self interest, misinformation, inexperience, and/or a lack of decision-making fundamentals knowledge; falling prey to logic fallacies, the misapplication of logic during problem solving. While a lack of knowledge and/or experience with problem solving may contribute to logic errors, they are typically the product of decision-makers’ underlying desires.


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Additional Information

The following StrategyDriven recommended best practices are designed to reduce the likelihood of erroneous logic being applied during the decision-making process including:

Organizational Accountability – Performance = Results + Behaviors

StrategyDriven Organizational Accountability ArticleOrganizational accountability is built on the premise that individuals are equitably rewarded based on their contribution to the accomplishment of the organization's goals consistent with its ethical values. Performance, therefore, becomes more than just 'making the numbers.'


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Recommended Resource – The Welch Way

The Welch Way
a weekly BusinessWeek column and podcast
by Jack and Suzy Welch

About the Reference

The Welch Way is a weekly BusinessWeek column and podcast authored by former GE CEO Jack Welch and his wife, the former editor of the Harvard Business Review, Suzy Welch. These articles cover a wide range of business and career topics offering readers the insights of one of America’s most respected Chief Executives.

Benefits of Using this Reference

Mr. and Mrs. Welch have both achieved unparalleled personal and business success and share their life’s lessons in an actionable way each week within their column. StrategyDriven contributors find great value in The Welch Way not only because it contains step-by-step methods to deal with today’s business and career challenges but because the topics addressed often focus on those areas important to organization’s aspiring to become more strategy driven.

Many of the best practice recommendations found on the StrategyDriven website compliment the actions prescribed in The Welch Way, making this column a StrategyDriven recommended read.