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Achieving Business Excellence

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Building a Winning Culture in Challenging Times - Created for Vistage 12.14.10

Building a Winning Culture in Challenging Times - Created for Vistage 12.14.10

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  • 1. Achieving Business Excellence Building A Winning Culture in Challenging Times
  • 2. 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.
    • Keep an open mind.
    • Work very hard… take this seriously.
    • The slides are already posted at:
    • www.SlideShare.net/johnspence
  • 3.  
  • 4. For the past 21 years…
  • 5.
      • Most people are so busy working IN their business that they do not take any time to work ON their business.
  • 6. Do you have a clearly focused and well-communicated strategy for success? Effective Strategy = Valued Differentiation x Execution
  • 7.  
  • 8. Five Foundations of Effective Strategic Thinking
      • Business Acumen
      • Personal Experience
      • Pattern Recognition
      • Strategic Insight
      • Disciplined Execution
    2
  • 9. The Four – I’s
    • Ignorance
    • Inflexibility
    • Indifference
    • Inconsistency
    2
  • 10. The Four – A’s
    • Alertness
    • Agility
    • Adaptability
    • Alignment
    2
  • 11. To get the most from our session together… It is absolutely critical that you be brutally honest with yourself today . 3 So let's get started with a little self-test…
  • 12. “ Simplicity is the ultimate sophistication” Leonardo da Vinci
  • 13. Southwest One type of plane Point-to-point Fast turns Low fares / no frills Friendly staff
  • 14. Dell BTO JIT Inventory turns Logistics vs. Technology VOC
  • 15.  
  • 16. Southwest – Dell – Walmart What is the pattern?
    • Extreme Efficiency
    • Minimize Costs to as close to zero as possible – w/o negative impact
    • All focused on delivering customer value
  • 17. From the CEO of a little 172 billion dollar company… Look, what is strategy but resource allocation? When you strip away all the noise, that’s what it comes down to. Strategy means making clear-cut choices about how to compete. You cannot be everything to everybody, no matter what the size your business or how deep its pockets. You have to figure out what to say “ N O ” to. Jeffrey Immelt
  • 18.  
  • 19. (T + C + ECF) x DE = Success NIBT
  • 20.
    • 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.
  • 21.  
  • 22. 22%
  • 23. What do engaged employees look like?
    • 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.
    NIBT
  • 24. Charlie Trotter’s 4
  • 25. Lessons from seven top CEOs
    • 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
    4 From: What the Best CEOs Know by Krames Dell, Welch, Gerstner, Grove, Gates, Kelleher, Walton = 696 B 1-10
  • 26.  
  • 27. 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
  • 28.
    • Lack of TRUST
    • Lack of candor
    • Lack of commitment
    • Lack of accountability
    • Lack of results
    NIBT
  • 29. Competence Respect Distrust Affection TRUST HIGH LOW LOW HIGH Concern 6
  • 30. “ I am good at what I do… and I do it because I care about you.”
  • 31. The Six Universal Drivers of Engagement
    • Caring, competent, and engaging leaders.
    • Effective managers who keep employees informed, aligned and engaged.
    • Effective teamwork at ALL levels.
    • Job enrichment and professional growth.
    • Valuing employee contributions.
    • Concern for employee well being.
    Next 5 slides are NIBT
  • 32.
    • Fun
    • Family
    • Friends
    • Fair
    Freedom Pride Praise Meaning Accomplishment NIBT
  • 33. Top High-Potential VPs from GE, Microsoft, Verizon, Qualcomm, State Farm, Abbott and Merrill Lynch…
    • Credible
    • Respectful
    • Approachable
    • Team Player
    • Highly Professional
    NIBT
  • 34. Leader of the Future
    • Character
    • Courage
    • Communication
    • Collaboration
    • Compassion
    • Contribution
    NIBT
  • 35. Is Your Company Up To Speed? Fast Company June 2003 Pages 7 - 8
  • 36. Twice weekly surveys for five years of 2,000+ senior managers and executives at:
    • IBM
    • GE
    • Morgan Stanley
    • Merck
    • 3M
    • Microsoft
    • CIGNA
    • Heineken
    • MasterCard
    • Fidelity
    • Motorola
    • Ikon
    • American Express
    • Progressive
    • Bank of America
    • AT&T
    • SAP
    • Borders
    9
  • 37. Keys to effective management…
    • Communicate clearly
    • Force the hard decisions
    • Focus on results
    • Remain flexible to change
    • Prove your value to the customer
    • Force collaboration
    • Rigorous but not ruthless…
    9 1 - 10 From: Think Big – Act Small by Jennings
  • 38. The 4 Pieces of Paper NIBT
  • 39. 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 10
  • 40. The Four Primary Practices:
    • A sharply focused, clearly communicated and well-understood strategy for growth.
    • Flawless operational execution that consistently delivers the value proposition.
    • A performance-oriented culture that does not tolerate mediocrity.
    • A fast, flexible, flat organization that reduces bureaucracy and simplifies work.
    From: What (really) Works by Joyce, Nohria, Roberson 10
  • 41. 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.
    From: What (really) Works by Joyce, Nohria, Roberson Score yourself on the 1–10 scale for all eight practices on page 10
  • 42. Key Drivers of Business Success 11 Workshop Page 12 T olerate N othing L ess From: Practice What You Preach by Maister Global study: 16 countries 29 companies 139 offices 5,589 respondents Financial Performance Quality P&S & Customer Relationship Employee Satisfaction Empowerment High Standards Long-term Orientation Enthusiasm, Commitment, Respect Training & Development Fair Compensation CR=104.12 CR= .404 CR=.334 CR=.277 CR=.275 CR=.249 CR=.280 Coaching CR=.285 CR=.371 CR=.365 CR=.191 CR=.247
  • 43. 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%)
  • 44. 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.
  • 45. Where are we going + how will we behave on the way? Focus Differentiation “ No” Stakeholders + guiding collation Vision + Values Strategy Plans Goals / Objectives Tactics / Actions Procedures / Protocols Repeatable Process Clear / consistent / relentless Training + time / money / supplies / people Measure / Track Communicate Transparency Renewal Praise + Celebration and Eliminate Mediocrity
  • 46. Disciplined Execution
    • Clear Vision
    • Detailed Strategy
    • Guiding Coalition
    • Alignment
    • Systems
    • Communication
    • Support
    • Adjust
    • Reward / Punish
    13 1 - 10
  • 47. Read Pages 14 & 15
  • 48. 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 16 – 18.
    • Put in as much detail as possible.
    • Be very honest with yourself.
    • Think in terms of Actions and Outcomes .
  • 49. If you have any questions at all please do not hesitate to send a note or call. My email address is: [email_address] My twitter address is: @awesomelysimple 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