The lessons• Old and new economy: – No difference. It’s about timeless issues• Old change paradigms are broken down: – No point in large scale “communication” driven cycles – Large mechanistic change teams
Level 5 leadershipYou can accomplish anything in life, provided that you do not mind whogets the credits. Harry Truman• Level 5: Executive : builds enduring greatness through a paradoxical blend of personal humility and profesional will. Level 4: Effective leader Level 3: Competent manager Level 2: Contributing team member Level 1: Highly capable individual• Level 5: can channel their ego, are very ambitious for the institution, not themselves• Key compentences are: Humility + Will = level 5
Law 1: Level 5• Lesson: set up successor for success (not failure)• Will Humility Results, catalist Compelling modesty Do what is needed Acts with cal determination Set the standards Channels ambition Looks in the mirror looks out the window for poor results to credit• More plow horse than show horse
Law 2: First who than whatThere are times you cannot wait for somebody. You’re either on the bus or off thebus. Lessons:• First choose the people and then the road• Create a team, not a genius with a thousand helpers• People are not your most important asset, the right people are.• Be rigourous in this issue, act
Law 3: Face the brutal factsThere is no worse mistake in public leadership than to hold out false hopes soonto be swept away. Churchill• Continuously refining the path• Create the climate for great performance – lead with Q’s not A’s – Engage in dialogue and debate – Conduct autopsy without blame – Build red flag mechanisms• Stockdale paradox: – retain faith that you can and will prevail in the end and at the same time face the brutal facts of the current reality
Law 4: the Hedgehog conceptKnow thyself, Scribes of Delphi
Law 6: Technology acceleratorsMost men would rather die, than think. Many do. Bertrand Russel• The real question is not what is the role of technology but rather how do you think differently about technology?• Become pioneers in the application of carefully selected technologies
The Fly Wheel and the DoomLoop• ‘Good-to-great’ transformations internally feel cumulative and organic and externally as revolutionary• No killer innovation, no wonder moment, no1 1 action, no huge programmes• Consistent building, no big breakthroughs, just like setting a flywheel in motion• Not investing energy in “motivating the troops or “managing” change• Competitors: the doom loop, looking for straight breakthoughs and stretching, usually with heavy M & A activity.
The ChallengeFrom built to last to good-to- great...
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