Best Practice Reports
About Best Practice Reports
The best practice Report provides best practices, innovative ideas and research data on topics and tools that will help you to stay up-to-date on the latest business trends and practices
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Strategy: Strategic Foresight and Future Shaping
Strategic foresight refers to the discipline of intelligence gathering, predicting alternative futures, and preparing for them. Today’s business world is increasingly uncontrolled and dynamic. Organisations need to have a good understanding of the overall macro-environment – i.e. the economy as a whole – so they can anticipate risks and threats, as well as explore megatrends, markets, and product and service demands. The purpose of strategic foresight is to develop a vision and cohesive, sustainable strategies to implement today, while positioning the organisation to create and maintain its preferred or alternative futures.

The term foresight is often used in conjunction with future shaping. Future shaping refers to the influencing or recalibrating of organisational policies and processes to shape and support an envisioned future, both within and outside an organisation. The fundamental principle of future shaping is that future shaping influences the market – not the reverse.
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Leadership: Crisis Management of COVID-19 (Special Edition)
COVID-19 is an infectious disease caused by a novel (or new) strain of coronavirus, a severe acute respiratory syndrome. Common symptoms include fever, cough, fatigue, shortness of breath, and loss of smell and taste. The time from exposure to onset of symptoms is typically around five days but may range from two to fourteen days. COVID is an acronym: “CO” stands for corona, “VI” for virus, and “D” for disease. Formerly, this disease was referred to as the “2019 novel coronavirus” or “2019-nCoV.”
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Information and Knowledge Management: Big Data
The term “big data” refers to data that is too large or complex-or is changing too rapidly-to process using traditional methods. Instead, organisations use more advanced computational methods to reveal patterns, trends, and associations – particularly in terms of how people interact with each other and with their surroundings. These insights enable organisations to improve strategies and make better decisions. Big data is characterised by the “5 Vs”: volume, velocity, variety, veracity, and value.
  • Volume refers to the massive amounts of data.
  • Velocity refers to the high speed at which data is accumulated.
  • Variety refers to the nature of data which may be structured, semi-structured or unstructured.
  • Veracity refers to the inconsistencies and uncertainty in the data, as well as to disparate data types and sources.
  • Value refers to the importance of being able to convert all of this data into something useful.
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Corporate Social Responsibility (CSR)
Corporate social responsibility (CSR) is when an organisation takes responsibility for the impact of its decisions and operations on society and the environment. It is when an organisation achieves a balance between economic, environmental and social imperatives, and the expectations of stakeholders for the long term.
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Strategy: Strategic Planning Process
Strategic planning is a systemic process through which an organisation assesses where it is at the present time, communicates where it wants to be in the future (through its mission and vision), and makes the necessary decisions to reach its goals. The process includes making sure that monitoring, control and improvement mechanisms are in place, which help to ensure the smooth implementation of the plan and mitigate any interruptions.

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Leadership: Governance
Governance is the ethical and effective management of an organisation by its executives and its governing board of directors or trustees. The corporate governance framework consists of rules, practices and processes to ensure accountability, fairness and transparency in an organisation’s relationship with all of its stakeholders (including financiers, customers, management, employees, government and the community).
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Leadership: Engagement and Communication with Stakeholders
A stakeholder is an individual or a group that holds a stake or, in other words, an interest in an organisation’s activities. Stakeholders can come from almost every area in which an organisation exists and operates: they can, for example, be employees, suppliers or customers; consumers, unions or legislators; banks, competitors or shareholders. Engaging and communicating with stakeholders is a fundamental ‘must’ for every organisation. Engagement goes beyond a simple exchange of information. Engagement involves listening, learning and collaborating with those who have a legitimate interest in an organisation’s activities, products and services. It is the process through which leaders (from CEOs to managers to team leaders) involve those people who may be affected by the decisions an organisation makes or might influence the implementation of the decisions. Stakeholder communication refers to all forms of communication-formal and informal-that leaders convey to the organisation’s stakeholders. Organisational communication can be considered a subset of the deeper role of stakeholder engagement, in which leaders play a critical role.


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Leadership: Building a Successful Organisation
While there are many different approaches to building a successful organisation, there are usually two common ingredients: a strong culture of excellence, and a system to enable and manage change effectively. These two ingredients often involve the following elements:
  • An environment to enable your mission to succeed and improve organisational and leadership performance, organisational learning, as well as learning for the workforce.
  • A workforce culture that delivers a consistently positive customer experience and fosters customer engagement.
  • An environment to enable innovation and intelligent risk taking, the achievement of your strategic objectives, and organisational agility.
  • Active participation in succession planning and the development of future organisational leaders.
Additional elements include leadership and planning; adopting an appropriate structure; open communications; ethical decision making; good supervision; and, motivation. Although the list is not exhaustive, it provides a good overview of what it takes for an organisation to be successful.
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Leadership: Legal and Ethical Behaviour
There are two types of compliance when it comes to behaviour within an organisation: legal and ethical. Legal compliance is about following the law, rules, and regulations, while ethics means doing what is right and behaving with integrity. It is important to note that you can be legally compliant and yet unethical.
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