GSD: Getting Stuff Done
First. Blog post. Ever.
When I was asked to be a blogger, I didn’t know what I’d find to write about. What theme would my blog have? Why would anyone read it? Then I thought of all the really interesting blogs I’ve read that contain really cool ideas — ideas that I’ve taken from theory to execution. And it came to me — my blog theme would be “Getting Stuff Done” — a tag line I’ve become a bit notorious for using! So this post — and future ones — will present ideas that I’ve come across that I think are worth spreading and how I’ve incorporated them into my practice of internal auditing. I hope you’ll find they inspire you to THINK different, BE different, DO different.
Strategy: Internal auditors constantly are urged to be more strategic. Get involved in strategic projects. Provide strategic risk assessments. Serve in more strategic capacities. But what does that mean? What is strategy?
The Idea: Business Model Canvas
To be relevant to strategic conversations, you need to have a point of view on what’s strategic. A business model describes the rationale of how an organization creates, delivers, and captures value. Sounds like strategy to me. The Business Model Canvas is a cool tool for capturing a business model on one page (see box; download the free 72-page PDF for more details).
These are the nine Building Blocks you fill out to create a business model:
- Customer segments — An organization serves one or several customer segments.
- Value propositions — It seeks to solve customer problems and satisfy customer needs with value propositions.
- Channels — Value propositions are delivered to customers through communication, distribution, and sales channels.
- Customer relationships — Customer relationships are established and maintained with each customer segment.
- Revenue streams — Revenue streams result from value propositions successfully offered to customers.
- Key resources — Key resources are the assets required to offer and deliver the previously described elements …
- Key activities — … by performing key activities.
- Key partnerships — Some activities are outsourced and some resources are acquired outside the enterprise.
- Cost structure — The business model elements result in the cost structure.
The Execution: Fill these blocks out, and you will have articulated your business’ strategy. Use it to check it for completeness. Assess the assumptions underlying the business model. Provide assurance on the ability of the organization to deliver via the channels identified. You can even use it to design your internal audit organization! As Global IIA Chairman Paul Sobel challenged us this year, “Imagine the Possibilities!”
Posted on Sep 23, 2013 by Carolyn Saint
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