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The Great Game of Business
 

The Great Game of Business

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It's my own inferences based on the Jack Stack's book: The Great Game of Business. It's a very inspiring book about organizational behavior. It has very interesting insights about how to motivate ...

It's my own inferences based on the Jack Stack's book: The Great Game of Business. It's a very inspiring book about organizational behavior. It has very interesting insights about how to motivate people in an organization. This book will help any manager become a good leader. This book was a reading assignment for me in a leadership session being held by Mr. Arvind Kaul.

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    The Great Game of Business The Great Game of Business Presentation Transcript

    • The Great Game of Business
    •  Defining the Game of Business  Game: A pleasurable activity in which team works towards a common goal/objective of winning with high interest/passion.  Business: A series of activities in which a group of persons is engaged.  What needs to be added to make Business a Game:  Common Goal/Vision/Objective  Team Spirit  Ownership  Passion/Interest  Fun
    •  Where It Started !  SRC: Manufacturing Organization .  Jack Stack is the inspirational CEO.  Stock Price increasing continuously.  Has decentralized business as 60 subsidiaries.  Pioneer of Open Book Management.  Provides training programs around GGOB concept.  Has given 31% of shareholding as ESOPs.
    •  Rules of the Game Know and teach the rules: “ Every Employee” should understand the business matrices and how to achieve them. Follow the Action & Keep Score: • “Every Employee” should be enabled and involved – Self Score Keeping Provide a Stake in the Outcome: • “Every Employee” should have a direct stake in the company's success. Critical Number – The goal of the game: What we need to chase ? – E.g. Net margin, Cost, Sales.
    •  Show them the Big Picture - Vision  Appeal to the highest level of Thinking  People use effort to help each other achieve common goals.  Design Score Cards & Display in Open.  Keep score like sports.  Everyone likes to keep their own score.  Company displays financial data prominently.  Financial statements with Forecasting numbers for next month.  Forward Forecasting schedule – Every week.  Measure against the yearly plan for variances – winning or losing.
    •  Your own Organization - Example  Dun and Bradstreet Report  Sales Goals, Pipeline and Progress -Visibility  High Travel Cost  Leveraging the Partners – Growth Strategy  You can bring the change at your own level – within team.  Groups can have their own mini-games.  Create early-wins – reachable goals.  Update on old commits & give “new commit” numbers – forecasts. Sales Divisions Jan Feb Mar Apr May June US Plan Forecast Actual India Plan Forecast Actual EMEA Plan Forecast Actual APAC Plan Forecast Actual
    •  Open Book Management  Transparency  Trust & Confidence of Sharing  Teach & Understand financial statements  Income Statement - Profit & Loss Statement  Balance Sheet/Cash Flow Statements  Clear Cost Analysis – Including overheads like stationery  Clear Goal Setting – Eye on Prize  Accurate Data – Accurate Targets – Quick Decision Making  Able to forecast & measure variances
    •  Think & Act like Owners !  ESOPs  Empowerment  Democratic process  Ask people to contribute.  Asking people is a Fair way of doing things.  Quarter Targets & Bonus Program based on profits – carry through.  Benchmarking & Set Standards  People own the self assigned numbers – Accountability  Knowing others are counting on us raises level of commitment.  Everyone must understand finance numbers.
    •  Team Huddles – Weekly Meetings  Current Score Review – Play Books  Everyone quotes their Numbers – Names attached  Numbers flow up instead of down  Projections are Promises made to each other.  People offer to help each other to achieve their numbers.  How to move forward and achieve the targets.  No intradepartmental fights  Win & Lose as a team  Huddle Cycle – From Department & Mgmt  From Mgmt to Department
    •  How to Lead ?  Let others contribute – You don’t have all the answers.  Don’t hog the meeting time – round robin method.  Be approachable - Participate in fun events with others.  Ask people about their angers and frustrations.  Recognize contributions and successes.  People should choose their own targets – Best Buy-In.  Everyone should have a clear “Line of Sight”.  How their actions contribute to the business ?  Involve everyone in annual financial planning process.  You gotta wanna – Instilling the desire to win.
    • • So much Chatter – Company develops own lingo. • Constant Communication – No silos – No walls  People should work cross-functionally. • Participation in events.  Philanthropy • Pride in the Work.  Market your products to your employees. • If we are happy, we like to work ! • If we enjoy – we want to be here !  Have Fun & Contribute Back ! 
    •  How to create a Game ? • Name the Game: “Up the Sale – Close More” • Set the Goal: X to Y by when • Estimate the benefit: E.g. Net Profit In Rupees • Identify the Players  Those who can impact the goal. • Determine the time frame – 30 days • Create a theme & build scorecard • Decide on the reward • Incremental rewards for goals • Huddle schedule to discuss performance - weekly
    •  Game’s Winning Moments ! 