Partnering for Performance: Unleashing the Power of Finance in the 21st-Century Organization (Hardcover)

by Martin G. Mand (Author), William Whipple III (Author)

Editorial Reviews

Review
Mand and Whipple write with the busy reader in mind. They make their ideas readily accessible .... -- Sloan Management Review, Fall 2000

[It] states the limitations of the conventional perceptions of finance, spells out the benefits of business-finance partnerships, and offers guidance. -- Sloan Management Review, Fall 2000

Product Description
When it comes to setting a company's strategic course and long-term goals, few areas of the company can have a greater impact than Finance. Paradoxically, however, Finance is often not involved in making such business decisions, but rather is limited to implementing them.

It's time to take off the "green eyeshades" and get ready for radical change. This forward-thinking book -- based on the more than 50 years combined experience of two financial practitioners -- should help any organization turn Finance into an integral contributor to its growth strategy and a partner in its business plan.

Changes in perceptions and behavior by everyone throughout the organization will be needed -- starting at the top -- so a dialogue between the CEO and the CFO of a hypothetical company has been used as a framework for the book. This device also enables readers to skim the material and quickly grasp the book's key ideas.

It's one thing to propose a culture change and another to explain how to get there. "Partnering for Performance" does both. In addition to a compelling proposal, you will find:

• a no nonsense discussion of how to upgrade the scorecard, enhance the budgeting process, and evaluate business alternatives (using techniques such as activity based costing, decision & risk analysis, and options theory);

• an implementation plan, including new roles and resposibilities for both Finance people and everyone else in the organization, training, incentives, and diagnostic tools (such as an organizational troubleshooting guide); and

• more than 60 real-world examples of the concepts presented to show that they hold true in practice.

In today's complex financial world, keeping score is far from enough. "Partnering for Performance" demonstrates how Finance can become a strong ally and powerful asset for achieving true competitive advantage.

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Product Details

• Hardcover: 242 pages
• Publisher: AMACOM (July 3, 2000)
• Language: English
• ISBN-10: 0814405568
• ISBN-13: 978-0814405567
• Product Dimensions: 9.1 x 6.2 x 0.9 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 5.0 out of 5 stars See all reviews (4 customer reviews)
• Amazon.com Sales Rank: #3,512,214 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars Partnering For Performance, July 21, 2000

By	Stephen E. Herrmann (Wilmington, DE 19805) - See all my reviews

PARTNERING FOR PERFORMANCE: Unleashing the Power of Finance in the 21st Century Organization, Martin G. Mand and William Whipple III, AMACOM, 2000.

As an attorney practicing corporate law in Delaware, I have been involved in many acquisitions, mergers, divestitures, etc., and have an understanding of the imperative for all companies and businesses to increase shareholder value. "Partnering for Performance" is the first book that I can recall reading which provides a lucid explanation of how a company can do so. The discussion is enlivened by numerous real world examples, as well as by an engaging dialog between the CEO and CFO of a hypothetical company.

The book goes on to sketch the wide range of activities that are conducted under the Finance umbrella, and offer suggestions as to how the value of these activities can be enhanced. There are two key thrusts the author recommends, which in many companies will require a significant culture change:

* Finance people must rethink their roles, and make the transition from functioning as analysts and controllers to "Shareholder Value Enabling."

* The business people and finance people in a company must work together as equal partners, otherwise known as "Partnering for Performance."

Drawing on their considerable experience as financial practitioners, the authors do not merely advocate such changes in principle. They also explain the obstacles to implementation, and offer solid suggestions for achieving the desired changes. The suggested game plan includes new roles and responsibilities for business people and finance people alike, demonstration projects such as overhauling the budget process, the integration of talented finance people into business teams, incentives for change, communications and training, and sample diagnostic tools (such as a corporate troubleshooting guide).

In sum, "Partnering for Performance" offers valuable insights about a low cost, low risk approach to increasing shareholder value. The book should be of considerable interest and value to a broad audience.

5.0 out of 5 stars Powerful Concept, October 11, 2000

By	Larry Scott (Chadds Ford, PA United States) - See all my reviews

Mand and Whipple do an excellent job describing how finance, business centers and top management can work together more effectively for optimum performance. The concept is powerful, and the examples from actual events are very stimulating. Best of all, they use a dialog method to make the message really come alive. "Listening" to the CEO and CFO discuss partnering makes the reader realize that the concept is not just another management theory, but can be readily applied to his or her situation as well.

5.0 out of 5 stars Essential for Business, August 5, 2000

By	Brian Curtis (Los Angeles, CA, USA) - See all my reviews

A very concise and well-written book which appeals to the financial executive and the MBA student. The CFO's role is clearly delineated with the support of actual cases and experiences as noted by the authors. I found this book to be interesting and a "quick-read" and was an excellent summation of the role of the CFO in the 21st corporations.