Is Your Business Function Positioned to Share Ownership and Become a Strategic Partner?
As a growing number of organizations realize the value of shared ownership among traditional business function silos for business strategy and results, CEOs challenge organizational leadership to implement the change.
Accordingly, successful CxOs from these enabling business functions (IT, HR, and Finance, etc.) are seeking how they can best accomplish the transition.
The answer lies in a BRM capability.
The presence and capability of a company’s Business Relationship Management (BRM) team is the key to success.
Four overarching steps to the transition are necessary, with the BRM team playing a major role:
- Setting the goal of becoming a strategic partner
- Defining the how
- Mapping out the journey
- Continuous execution
The goal should be simple and clear enough that it can be easily tailored to any business function aiming to become a strategic partner. An IT goal, for example, might read: IT has a goal to become a converged strategic business partner with shared ownership for business strategy and results.
Once the goal is set, the way in which it will be achieved must be defined. The solution is simple: utilize a BRM capability within the organization.
If done correctly, as defined by BRM Institute, a BRM capability will move the entire enabling business function (not just the BRM individuals or leadership role) to strategic partnership converged with business (in other words, becoming part of the business).
With the understanding that the BRM capability is the means to achieving the goal, the third step is to build a playbook outlining the timeline and the steps required to position a formal cross-organizational BRM capability for success. (For more on this, see Business Relationship Management Institute.)
Following completion of these three initial steps, the fourth and final step is continuous improvement. Throughout the navigation and execution of the playbook, it is critical to communicate business wins and failures across the organization both clearly and effectively, especially as the CxO and related teams move through the transition. It is worth noting that another critical aspect of a successful transition is the effectiveness of the BRM team.
Trust is earned—not given—and this concept holds true with BRM relationships. For a successful transition to take place, strong BRM relationships must build over time through open, honest, and transparent communication. Furthermore, these relationships must continually develop and strengthen.
Following these steps will help CxOs successfully accomplish the goal determined by their CEOs.
For a successful transition to take place, strong BRM relationships must build over time through open, honest, and transparent communication.
In turn, they can move their organizations from business function silos to becoming converged strategic partners with business.
Learn more about the BRM capability, check out upcoming BRM events, or contact us! to discuss how BRM Institute can work for you.
Aaron Barnes is an expert BRM leader and practitioner with first-hand experience in successfully performing as a strategic business partner, leading BRM teams, and instilling BRM leading practices in organizations. Aaron’s passion for business partnering comes from his years of consulting service in the U.S. and Europe, leading converged business teams, designing strategy, and implementing business systems with a constant focus on delivering business value results. Aaron co-founded and currently serves as the CEO of Business Relationship Management Institute and has spent countless hours demonstrating the value of business relationship management to practitioners and organizations to advance the BRM profession around the globe.
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