#200 Unleashing the Potential of FP&A – The Strategy Beyond the Hockey Stick

with Anders Liu-Lindberg


Our Guest Mentor:

Anders is currently a senior finance business partner at A.P. Moller Maersk.   As the business partner to Maersk’s largest trade lane between Asia and Europe, he is actively involved in strategic planning and business performance management.   

In addition to his role at Maersk, Ander is a prominent corporate influencer and thought leader on evolving roles of FP&A and effective finance business partnering (FBP).  He co-founded the Business Partnering institute (BPI) to crack the code on Business Partnering and unlock the value potential hidden in finance functions around the world.  He is an avid writer, he publishes books, articles and blogs on subjects around FBP, providing practical advice on how we can become better business partner, creating values for sustainable business growth.  His most recent work was on roles of FP&A in strategic business planning.  

Key Quotes From the Episode: 

It is important to know that your competitor is doing the same thing as you do. You need to do more than what they are doing for you get ahead. [07:04] 

[Conduct of Annual Business Review] Did we hit or miss? Our business plans sometimes becomes useless as competition created disruption making our target figures irrelevant. We should be measured by the new situation instead.[14:23] 

 If you only have one plan then it’s not the best strategy. You must have multiple alternatives for you to choose depending on the circumstances you may also combine those multiple alternatives. [18:26] 

(Other resources and how to connect with Anders below). 

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Key Points From the Episode:

      • Insights from book Strategy Beyond the Hockey Stick  
      • FP&A Professional- change agent in the current business planning process 
      • Tips for FP&A Professional in selecting best transformation strategy; 
      • Improve internal perception 
      • Knowledge on external environment 
      • Provide multiple alternatives 

      Time Stamped Show Notes 

      [01:55] – Anders shares what makes him busy these days specially on training professional becoming a better finance business partner. 

      [03:32] – Insights from book Strategy Beyond the Hockey Stick by McKinsey as it talk about; 

      • Failing and winning strategies  
      • Research on companies that create value 
      • 10 predictors of having a good strategy 
      • Place to make to increase your chances of success 

      [09:42] – How FP&A Professional be the change agent in the current business planning process 

      • Be proactive to change   
      • Transformation starts within  

       

      [11:25] – Evidence of transformation and doing an active role by FP&A Professional in the business organization. 

      [12:15 FP&A Professional is not felt by the management in doing an active role in the transformation. 

      • Lacking of senior leader 
      • Not attending important meetings 
      • Difficult to move in the level hierarchy  

      [13:50] – Annual business planning is approaching. FP&A Professional must do. 

      [17:05] – Tips for FP&A Professional in selecting best transformation strategy; 

      • Improve internal perception 
      • Knowledge on external environment 
      • Provide multiple alternatives 

      [19:34] – Bishift vs. incremental changes. Proper allocation of 20% of resources to support the new strategic initiatives.  

      [21:52] – Channelling the ROI conversation in the strategy room. 

      [24:16] – Influencing the stakeholders to look at the long term impact of strategic business intitatives. 

      [25:55] – Sandbagging and its challenges to FP&A Professional 

      [28:56] – Defining holistic and comprehensive FP&A professional view of work performance. 

      [31:34] – Making the hard and difficult first step towards transformation ensuring its threshold measures and alignment to the business goals. 

      [34:54] – Books that Anders recommend to our audience to read. 

      [36:57] – Ander’s projects and advice audience they can look forward to in next 6-12 months. 

      [37:53] – Best way to connect to Anders.  

       

      Resources Mentioned: 

       

      Kindle Book 

      Strategy Beyond the Hockey Stick: People, Probabilities, and Big Moves to Beat the Odds 

      Book by Chris Bradley, Martin Hirt, and Sven Smit Blogs of Mentors https://www.amazon.com/Strategy-Beyond-Hockey-Stick-Probabilities-ebook/dp/B078YH2W7H/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr= 

       

      Website 

      https://www.fpa-trends.com/ 

      https://www.afponline.org/ 

      https://www.linkedin.com/in/andersliulindberg/detail/recent-activity/posts/ 

       

      Connect with today’s guest: 


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