Published on March 8, 2014
Executive Leadership Program
This is a very special workshop • • • • I have a ton to cover and I will go pretty fast. 80% is in the book. Please take notes and ask questions. I am happy to answer any of your questions, offer advice and recommend books at any time. • Work very hard… take this seriously. The slides are already posted at: www.SlideShare.net/johnspence
What does this mean to me? How can I use this idea? What can I do right away?
Reality Check Knowing – Doing 1 -10
The Four Ps 2
Do you have a clearly focused and well-communicated vision and strategy for growth? Effective Strategy = Valued Differentiation x Execution
Threat of New Entrants Bargaining Power of Suppliers Rivalry Among Existing Competitors Threat of Substitutes Bargaining Power of Buyers
Just because you have an idea…
Success comes from executing the RIGHT ideas, not just from the planning process itself.
Five Foundations of Effective Strategy Business Acumen Personal Experience Pattern Recognition Strategic Insight Disciplined Execution 2
The Four – I’s • • • • Ignorance Inflexibility Indifference Inconsistency Page 2
How to avoid the Four I’s 1-10 • • • • • • • Aggressive external market focus. Aggressive customer focus. Keep the “Main Things” the main things. Bullish on knowledge sharing and learning. Teamwork is mandatory – not optional. Passion and commitment at all levels. Foster a healthy paranoia. • Revel in change. 2
To get the most from our session together… It is absolutely critical that you be brutally honest with yourself today. So let's get started with a little self-test… 3
“Simplicity is the ultimate sophistication” Leonardo da Vinci
Lessons from seven top CEOs Dell, Welch, Gerstner, Grove, Gates, Kelleher, Walton = 696 B • • • • Have an outside-in perspective Be deeply passionate about your job Understand the importance of culture Create or adapt next generation products, processes and solutions • Implement the best ideas regardless of origin 1-10 From: What the Best CEOs Know by Krames 4
The Toyota Way • Challenging Vision – We form a long-term vision, meeting challenges with courage and creativity to realize our dreams. • Kaizen – We improve our business operations continuously, always driving for innovation and evolution. • Genchi Genbutsu – We go to the source to find the facts to make correct decisions, build consensus, and achieve our goals at our best speed. • Respect, Challenge and Help your People and Suppliers – We respect others, make every effort to understand each other, take responsibility and do our best to build mutual trust. • Teamwork – We stimulate personal and professional growth, share the opportunities of development, and maximize individual and team performance. 5
What does it take to be a valued member of a team? Develop and display competence. Follow through on commitments. Deliver required results. Ensure your actions are consistent with your word. Stand behind the team and its people. Be enjoyable to work with. Be passionate about your work and those you serve. Communicate and keep everyone informed. Help the other members of the team. Help members of other teams. Share ideas, information and credit. Hold yourself 100% accountable.
• • • • • • D irection – vivid, clear, inspiring --- shared M easurements – specific, observable, focused C ompetence – very good at what they do C ommunication – open, honest, courageous M utual Accountability – all team members D iscipline – do this every day 6
10 Key Team Competencies: 1. Setting clear, specific and measurable goals. 2. Making assignments extremely clear and ensuring required competence. 3. Establishing accountability for high performance across the entire team. 4. Running effective team meetings. 5. Building strong levels of trust. 6. Establishing open, honest and frank communications. 7. Managing conflict effectively. 8. Creating mutual respect and collaboration. 9. Encouraging risk-taking and innovation. 10. Engaging in ongoing team building activities. 1 - 10 6 6
The number one factor in increasing the level of highly satisfied and engaged CUSTOMERS in your business is… The level of highly satisfied and engaged EMPLOYEES in your business.
What do engaged employees look like? 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. They give more discretionary effort. They consistently exceed expectations. They take more responsibility and initiative. They receive better customer service ratings. They offer more ideas for improvement. They promote and model teamwork. They volunteer more for extra assignments. They anticipate and adapt better to change. They persist at difficult work over time. They speak well of the organization. 1 - 10 7 11
TEN ELEMENTS OF A WINNING CULTURE 7 1. People enjoy the work they do and the people they work with 2. People take pride in the work they do and the company they work for 3. There are high levels of engagement, connection, camaraderie and a community of caring 4. There is a culture of fairness, respect, trust, inclusiveness and teamwork 5. The leaders walk the talk, live the values and communicate a clear vision and strategy for growth 6. Lots of open, honest, robust and transparent communication across the entire organization 7. The company invests back in employees; there is a commitment to learning, coaching and development 8. There is a bias for action, employees have an ownership mentality and always strive to give their personal best 9. There is high accountability and a strong focus on delivering the desired results 10. There is ample recognition and rewards and mediocrity is not tolerated
Extreme Customer Focus
Web of Value: VOC + MOT + WOM 11
Extreme Customer Focus VOC 11
Moments Of Truth 11 Page 8
VOC + MOT Workshop: Page 11
43% - 74% of purchasing decisions = WOM/T
You MUST have a WOM Referral System Identify Ideal Customer Know Like Trust Try Buy Repeat Refer Ideal Customer
WOM workshop page 12
The Evergreen Project 10 year study of 160 top companies 40 distinct industries 200 management practices Winners, climbers, tumblers, losers Winners had an average Total Return to Shareholders of 945%... The Losers only averaged a TRS of 62% From: What (really) Works by Joyce, Nohria, Roberson
The Four Primary Practices: 1. A sharply focused, clearly communicated and well-understood strategy for growth. 2. Flawless operational execution that consistently delivers the value proposition. 3. A performance-oriented culture that does not tolerate mediocrity. 4. A fast, flexible, flat organization that reduces bureaucracy and simplifies work. 13 From: What (really) Works by Joyce, Nohria, Roberson
The Secondary Management Practices: • Talent = find and keep the best people. • Key leaders show commitment and enthusiasm for the business. • Embrace strategic innovation. • Master the power of partnerships. Score yourself on the 1–10 scale for all eight practices on page 13 From: What (really) Works by Joyce, Nohria, Roberson
Key Drivers of Business Success Financial Performance CR=104.12 Global study: 16 countries 29 companies 139 offices 5,589 respondents Quality P&S & Customer Relationship Tolerate Nothing Less CR= .404 Employee Satisfaction Workshop Page 15 CR=.334 CR=.280 Empowerment Long-term Orientation From: Practice What You Preach by Maister CR=.275 CR=.249 CR=.285 CR=.277 CR=.371 Coaching CR=.365 Enthusiasm, Commitment, Respect High Standards CR=.191 Training & Development CR=.247 Fair Compensation 14
What Inhibits Execution? National Survey of 4,000 Senior Executives 4. Inability to work together (21%) 3. Company culture (23%) 2. Economic climate (29%) 1. Holding onto the past / unwillingness to CHANGE (35%)
In other words… • In order to succeed you need a high-performance team that embraces a strong culture of disciplined execution and accountability while being nimble, agile and adaptable to changes in the marketplace.
Disciplined Execution Clear Vision Detailed Strategy 1 - 10 Guiding Coalition Alignment Systems Communication Support Adjust Reward / Punish 16
Individual Workshop • Go back and look at all of your audits. • Where were your low scores, where were your high scores – what is the pattern? • Look over your notes – what were the key themes? What are the most important ideas? • Answers all the questions on pages 19 – 22. • Put in as much detail as possible. • Be very honest with yourself. • Think in terms of Actions and Outcomes.
In teams… • Look over pages 19- 22 • Team Workshop Page 24
Page 27 If you have any questions at all please do not hesitate to send a note or call. My email address is: firstname.lastname@example.org My twitter address is: @awesomelysimple *** Please connect with me on LinkedIn *** Also, you might find value in the ideas I share in my blog. You can sign up for it at: www.blog.johnspence.com Lastly, these slides have already been uploaded to: www.slideshare.net/johnspence
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