Strategic Leadership - Florida Hospital Leadership Institute

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Strategic Leadership - Florida Hospital Leadership Institute

  1. 1. Achieving Business
  2. 2. This is a very special workshop <ul><li>I have a ton to cover and I will go pretty fast. </li></ul><ul><li>Please take notes and ask questions. </li></ul><ul><li>I am happy to answer any of your questions, offer advice and recommend books at any time. </li></ul><ul><li>Keep an open mind. </li></ul><ul><li>Work very hard… </li></ul><ul><li>The slides are already posted at: </li></ul><ul><li>www.SlideShare.net/johnspence </li></ul>
  3. 4. For the past 21 years…
  4. 5. What does this mean to me? How can I use this idea? What can I do right away ? I am NOT a guru…
  5. 6. <ul><ul><li>Most people are so busy working IN their business that they do not take any time to work ON their business. </li></ul></ul>
  6. 7. What makes a winning strategy?
  7. 8. Do you have a clearly focused and well-communicated strategy for success? Effective Strategy = Valued Differentiation x Execution
  8. 9. Key Point: Strategy is INTERNAL as well as EXTERNAL
  9. 10. Most people think of:
  10. 12. Five Foundations of Effective Strategic Thinking <ul><ul><li>Business Acumen </li></ul></ul><ul><ul><li>Personal Experience </li></ul></ul><ul><ul><li>Pattern Recognition </li></ul></ul><ul><ul><li>Strategic Insight </li></ul></ul><ul><ul><li>Disciplined Execution </li></ul></ul>2
  11. 13. The Four – I’s <ul><li>Ignorance </li></ul><ul><li>Inflexibility </li></ul><ul><li>Indifference </li></ul><ul><li>Inconsistency </li></ul>2
  12. 14. How to avoid the Four I’s <ul><li>Aggressive external market focus. </li></ul><ul><li>Aggressive customer focus. </li></ul><ul><li>Keep the “Main Things” the main things. </li></ul><ul><li>Bullish on knowledge sharing and learning. </li></ul><ul><li>Passion and commitment at all levels. </li></ul><ul><li>Foster a healthy paranoia. </li></ul><ul><li>Revel in change. </li></ul><ul><ul><li>be agile, adaptive, and anticipatory. </li></ul></ul>2
  13. 15. Breakthrough Strategies <ul><li>GE: 1- 2 or F.S.C. </li></ul><ul><li>Intel: memory to processors </li></ul><ul><li>Microsoft: installed base </li></ul><ul><li>Apple: chaos to elegance </li></ul><ul><li>Saturn: no haggling </li></ul>3
  14. 16. Southwest One type of plane Point-to-point Fast turns Low fares / no frills Friendly staff 3
  15. 17. Dell BTO JIT Inventory turns Logistics vs. Technology VOC 3
  16. 18. 3
  17. 19. Southwest – Dell – Walmart What is the pattern? <ul><li>Extreme Efficiency </li></ul><ul><li>Minimize Costs to as close to zero as possible – w/o negative impact </li></ul><ul><li>All focused on delivering customer value </li></ul>
  18. 20. 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
  19. 21. Educated Guess Differentiated Strategy Focus Resource Allocation Bold Not Risky What NOT To Do
  20. 22. To get the most from our session together… It is absolutely critical that you be brutally honest with yourself today . 4 So let's get started with a little self-test…
  21. 23. Microsoft <ul><li>Total World Domination </li></ul><ul><li>The Top 5 % </li></ul><ul><li>Bet the Company </li></ul><ul><li>Require Failure </li></ul><ul><li>Managers are Qualified </li></ul><ul><li>Perform, Perform, Perform </li></ul><ul><li>Shrimps vs. Weenies </li></ul><ul><li>Stop the Insanity </li></ul><ul><li>Espirit De Corps </li></ul>5 From: The Twelve Simple Secrets of Microsoft Management by Thielen
  22. 24. Charlie Trotter’s 5
  23. 25. Lessons from seven top CEOs <ul><li>Have an outside-in perspective </li></ul><ul><li>Be deeply passionate about your job </li></ul><ul><li>Understand the importance of culture </li></ul><ul><li>Create or adapt next generation products, processes and solutions </li></ul><ul><li>Implement the best ideas regardless of origin </li></ul>5 From: What the Best CEOs Know by Krames Dell, Welch, Gerstner, Grove, Gates, Kelleher, Walton = 696 B 1-10
  24. 27. The Toyota Way <ul><li>Challenging Vision </li></ul><ul><ul><li>We form a long-term vision, meeting challenges with courage and creativity to realize our dreams. </li></ul></ul><ul><li>Kaizen </li></ul><ul><ul><li>We improve our business operations continuously, always driving for innovation and evolution. </li></ul></ul><ul><li>Genchi Genbutsu </li></ul><ul><ul><li>We go to the source to find the facts to make correct decisions, build consensus, and achieve our goals at our best speed. </li></ul></ul><ul><li>Respect, Challenge and Help your People and Suppliers </li></ul><ul><ul><li>We respect others, make every effort to understand each other, take responsibility and do our best to build mutual trust. </li></ul></ul><ul><li>Teamwork </li></ul><ul><ul><li>We stimulate personal and professional growth, share the opportunities of development, and maximize individual and team performance. </li></ul></ul>6 1-10
  25. 28. In-depth study of 25 top companies renowned for building winning corporate cultures… <ul><li>GE </li></ul><ul><li>Dell </li></ul><ul><li>Wal-Mart </li></ul><ul><li>Toyota </li></ul><ul><li>Nordstrom </li></ul><ul><li>Starbucks </li></ul><ul><li>Southwest Airlines </li></ul><ul><li>IBM </li></ul><ul><li>P&G </li></ul><ul><li>Whole Foods </li></ul><ul><li>Ritz Carlton </li></ul><ul><li>Intel </li></ul>The pattern of six common traits for all of these firms… From Results Rule by Randy Pennington
  26. 29. They understand that : Results Rule! <ul><li>Tell themselves the truth and value candor and honesty. </li></ul><ul><li>Pursue the best over the easiest in every situation. </li></ul><ul><li>Leverage the power of partnerships both internally and externally. </li></ul><ul><li>Focus the energy to make the main things the main thing. </li></ul><ul><li>Show the courage of accountability. </li></ul><ul><li>Learn, grow and improve every single day. </li></ul>From Results Rule by Randy Pennington 6 1-10
  27. 30. Is Your Company Up To Speed? Fast Company June 2003 Pages 7 - 8
  28. 32. Anyone who tells you they enjoy change… should seek immediate professional help.
  29. 33. Emotional Response to Perceived Negative Change Stability Immobilization Denial Anger Bargaining Depression Testing Acceptance Time Passive Active Emotional Response
  30. 34. Managing Positive Responses to Change PESSIMISM Uninformed Optimism Informed Pessimism Hopeful Realism Informed Optimism Completion Checking Out TIME
  31. 35. The eight major steps of the change process
  32. 36. 1. Build an irresistible case for change
  33. 37. 2. Create a strong sense of urgency
  34. 38. 3. Form a powerful guiding coalition
  35. 39. 4. Create a clear vision for successful change 5. Communicate it relentlessly
  36. 40. 5. Empower others to act
  37. 41. 6. Plan for and celebrate small wins
  38. 42. 7. Institutionalize the change
  39. 43. The Evergreen Project <ul><li>10 year study of 160 top companies </li></ul><ul><li>40 distinct industries </li></ul><ul><li>200 management practices </li></ul><ul><li>Winners, climbers, tumblers, losers </li></ul><ul><li>Winners had an average Total Return to Shareholders of 945%... The Losers only averaged a TRS of 62% </li></ul>From: What (really) Works by Joyce, Nohria, Roberson 10
  40. 44. The Four Primary Practices: <ul><li>A sharply focused, clearly communicated and well-understood strategy for growth. </li></ul><ul><li>Flawless operational execution that consistently delivers the value proposition. </li></ul><ul><li>A performance-oriented culture that does not tolerate mediocrity. </li></ul><ul><li>A fast, flexible, flat organization that reduces bureaucracy and simplifies work. </li></ul>From: What (really) Works by Joyce, Nohria, Roberson 10
  41. 45. The Secondary Management Practices: <ul><li>Talent = find and keep the best people. </li></ul><ul><li>Key leaders show commitment and enthusiasm for the business. </li></ul><ul><li>Embrace strategic innovation. </li></ul><ul><li>Master the power of partnerships. </li></ul>From: What (really) Works by Joyce, Nohria, Roberson Score yourself on the 1–10 scale for all eight practices on page 10
  42. 46. 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. 47. What Inhibits Execution? National Survey of 4,000 Senior Executives <ul><li>4. Inability to work together (21%) </li></ul><ul><li>3. Company culture (23%) </li></ul><ul><li>2. Economic climate (29%) </li></ul><ul><li>1. Holding onto the past / unwillingness to CHANGE (35%) </li></ul>
  44. 48. 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
  45. 49. Disciplined Execution <ul><li>Clear Vision </li></ul><ul><li>Detailed Strategy </li></ul><ul><li>Guiding Coalition </li></ul><ul><li>Alignment </li></ul><ul><li>Systems </li></ul><ul><li>Communication </li></ul><ul><li>Support </li></ul><ul><li>Adjust </li></ul><ul><li>Reward / Punish </li></ul>13 1 - 10
  46. 50. 14 & 15
  47. 51. Individual Workshop <ul><li>Go back and look at all of your audits. </li></ul><ul><li>Where were your low scores, where were your high scores – what is the pattern? </li></ul><ul><li>Look over your notes – what were the key themes? What are the most important ideas? </li></ul><ul><li>Answers all the questions on pages 16 – 18. </li></ul><ul><li>Put in as much detail as possible. </li></ul><ul><li>Be very honest with yourself. </li></ul><ul><li>Think in terms of Actions and Outcomes . </li></ul>
  48. 52. If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.com 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

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