Process-based management.

All organizations have one thing in common--to operate, they must have effective processes in place. The challenge most organizations face is how to improve and integrate their processes, and link those integrated processes to the organization's strategy. Each of these steps is a critical aspect of process-based management (PBM). Mastering PBM should help an organization extend its processes to its value chain partners, creating a competitive advantage for sustainable success in the 21st century.

In this issue of CMA Management, Todd Scaletta, CMA, introduces us to the PBM concept and explains how the Consortium of Advanced Management International's (CAM-I) PBM group is examining and encouraging PBM best practices. As Scaletta demonstrates, management accountants should play a key role in creating an effective, innovative PBM environment. Read the feature, "Beyond process improvement: the pathway to process-based management," on page 22.

Some organizations have already made a transition to effective PBM. For instance, when a Toronto-based manufacturer wanted to implement a new ERP system, it turned out that, to get true value from it, it was necessary to retool the organization's processes. Companies can gain a significant strategic advantage by reexamining their processes and taking integration deep into their organization. Dan Snider, CMA, offers us this example of how to do it right. Turn to "Alignment: do your processes really line up?" on page 26.

Since its introduction back in 1992, Robert Kaplan and David Norton's Balanced Scorecard (BSC) has gained much enthusiastic support from management experts who believe that business can benefit from a strong performance management framework. In this issue of CMA Management, for instance, Cam Scholey, CMA, explains how the Scorecard can support risk management efforts.

But Kaplan and Norton believe that scorecards can be taken still deeper into the organization. In their newest book, Alignment: Using the Balanced Scorecard to Create Corporate Synergies, the authors suggest that, although scorecards have been used effectively within business units in the past, they could play a greater role in creating alignment within the overall corporate business strategy. The authors recognize that some companies have already adapted their scorecards to create synergies within their organizations. Thus, the BSC could be another useful tool in a company's PBM toolbox. Turn to page 45 for a more lengthy review of Alignment.

The British Columbia wine industry has come into its own in the last few years. Wines from the Okanagan Valley, and elsewhere in the province, have been garnering awards internationally, and North American heavyweights like New York-based Constellation Brands Inc. have taken a shine to the investment possibilities in the region.

Summerhill Pyramid Winery in Kelowna, B.C., is one company that's getting more recognition. CMA Kevin Blucke has given it a substantial management overhaul, and after just two years as president, he's getting results. To understand how, turn to this month's profile on page 40.

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Robert Colman

Editor-in-Chief