Weekly Roundup: Strategy, Finance & Reporting
Posted on: February 5, 2015

Is Strategic Foresight an Ethical Imperative?

Gustavo Frazao/Shutterstock.com

http://www.govexec.com/excellence/promising-practices/2015/02/strategic-foresight-ethical-imperative/104385/, Feb. 3, 2015

Mr. Kamensky identifies several approaches on using strategic foresight to guide leadership priorities and decision-making, and he links these approaches to common practices within the federal government.  In summary, the methods for integrating foresight into federal planning varies by agency and by level within each component.  There are other notable effects to having foresight not mentioned in this article, such as the impact a long-term strategic perspective has on the short-term budget process and the resulting fiscal year appropriations.


Beyond ERP and Excel

http://ww2.cfo.com/analytics/2015/01/beyond-erp-and-excel-financial-analytics/, Jan. 29, 2015

Accounting and reporting tools based in Excel and ERP applications have their benefits and limitations for analyzing financial data, cites authors Mr. Pezza and Mr. Haight.  Employees who periodically integrate large financial data sets into standard reports can spend an enormous amount of time formatting information into a structured layout that does not highlight relevant and actionable statistics for leadership.  While Excel has built-in functionality to forecast financial trends, it can be difficult for employees to identify errors in the data sets or the underlying assumptions. On the other hand, organizations that utilize tailored tools and dashboards to pull real-time financial data benefit the most when the legacy data from the older reporting formats are included in the newly automated analyses.