Cordage Insittute 5.2009
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Cordage Insittute 5.2009

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Keynote at the 2009 Cordage Institute.

Keynote at the 2009 Cordage Institute.

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Cordage Insittute 5.2009 Cordage Insittute 5.2009 Presentation Transcript

  • Cordage Institute 2009 Annual Conference Building a Winning Culture in Challenging Times John Spence
  • Global Economy?
  • National Economy?
  • Competition?
  • For those who are prepared… …chaos brings opportunity
  • The 4 P’s of Expert Performance Passion Persistence Practice Pattern Recognition
  • For the past 14 years…
  • Making the very complex… awesomely simple • Vivid Vision • Robust Communication • Best People • Sense of Urgency • Disciplined Execution • Extreme Customer Focus
  • 1. Vivid Vision
  • TEAM A superior that delivers real value through SOLUTIONS elegant for their customers and looks for GROWTH appropriate opportunities.
  • Three keys to an effective vision: Over-communicate it Adjust it when necessary LIVE it every day
  • 2. Robust Communication
  • Honesty Transparency Courage Consistency
  • 3. Best People
  • Is you company a talent magnet? Talent
  • Refuse to tolerate mediocrity…
  • 4. Sense of Urgency
  • You must create a culture that… • Rewards fast action-taking • Punishes barriers • Embraces change • Tolerates risk • Accepts failure • Empowers everyone
  • 4-Level Decision Making 1. You own it. 2. Ask for input… you own it. 3. Team decision… I own it. 4. My call… I own it.
  • 5. Disciplined Execution
  • 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%)
  • Where are we going + how will we behave on the way? Vision + Values Praise + Celebration Focus Reward / and Differentiation Strategy Punish Eliminate Mediocrity “No” 9 Steps for Measure / Track Adjust / Stakeholders + Communicate Ensuring Commitment guiding collation Transparency Innovate Renewal Effective Execution Vision + Values Strategy Training + Plans time / money / Support Alignment Goals / Objectives supplies / people Tactics / Actions Procedures / Protocols Systems Communication Clear / consistent / relentless Repeatable Process
  • 6. Extreme Customer Focus
  • It used to be… Good Cheap Fast
  • Common sense, but not common practice… Show up on time Do what you say you will do Finish what your start Say “please” and “thank you” Always give a little more than they expect
  • Master the first five… and then focus them on number six!
  • Twice weekly surveys for five years of 4,000+ senior managers and executives at: • • IBM Fidelity • • GE Motorola • • Morgan Stanley Ikon • • Merck American Express • • 3M Progressive • • Microsoft Bank of America • • CIGNA AT&T • • Heineken SAP • • MasterCard Borders
  • 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
  • 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% 9 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. 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. From: What (really) Works by Joyce, Nohria, Roberson
  • To help you apply these ideas…
  • Q&A If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.com Also, you might find value in the ideas I share in my blog. You can sign up for it at: www.johnspence.com/blog Lastly, these slides have already been uploaded to: http://www.slideshare.net/johnspence