Let us remind you one of presentations from the last session. We were pleased to host Jack Hsieh from Taiwan who gave a speech in typical Asian style full of anecdotes and interactions to the audience. The Speaker presented a case study of a Chinese State owned corporation that illustrated alignment of Portfolio Management and Corporate Strategy by application of New Product Management (NPD) and Business analysis (BA).
At the beginning, Jack did his best to explain how works a portfolio eco-system and how to manage it. The eco-system consists of following elements: Corporate Strategy, Portfolio, Program, and Project Management, and Operation. It shows links between Organisational Project Management and external factors such as market feedback or environmental variables.
In a highly competitive market, the best way to achieve the Organization's strategic goals of the company is launching products or services favoured by customers. Traditionally the goal was achieved by mass production; economies of scale to drive down prices, which is no longer applicable in 21st century. In these times, successful companies rely heavily on New Product Development to beat competitors. It’s a methodology that consists of strategy, market research, NPD process, team/people/organization, and portfolio management. NPD has a very wide scope of activities but the most important thing is a good idea that determine the whole process. Jack mentioned a few brands known because of the brilliant idea and prestige which is very important in Asia. That made a success of Rolex, BMW or Apple.
Another anchoring discipline for portfolio alignment presented by Jack Hsieh is Business Analysis (BA). Business analysis is a distinct discipline focusing on identifying business needs, problems, and opportunities, and on determining the appropriate solutions to address them. The resulting projects and initiatives will be an input to portfolio management. For companies who are doing well on portfolio management, there must be a strong BA support team behind. Smart people take lessons from others, while others take from themselves. To illustrate the importance of Business Analysis, Jack told a story of wonderful cherry blossoms and the tough battle with his wife’s requirements.
In the ending part of speech, Mr. Hsieh recalled the portfolio eco-system and he showed connections between project management, new product development and business analysis. He emphasised the force of ideas and the importance of products selection.
We are happy that we could host Jack at our Conference. He ushered in new winds of speaking style that gave the Polish audience an opportunity to get to know a different perspective of portfolio management.