Recent research suggests we are entering the end of sustainable competitive advantage. The key to success in turbulent times comes from several key areas like, strategy as process, understanding the dynamics of change, keeping your L>C, and leveraging technology. In this all new session, Tom will cover the latest ways to find your edge. He will also feature a mini-session on Communications led by Dana Rubenstein, esq and the latest personal technologies to keep your L>C. You will learn about the five R's ROA (return on attention), ROL (learning), ROC (culture) and ROI, ROP (Return on People) and how you can apply them to your firm. You will also learn how vision and strategy are used to maintain a competitive edge and engage your people to give you their best.
Living on the edge - FInding a Competitive Edge in Turbulent Times
1. Living on the Edge: finding a
competitive edge in turbulent times
Tom
Hood,
CPA,
CITP,
CGMA
CEO
@tomhood
MACPA
@macpa
Business
Learning
Ins?tute
@bizlearn
2. Moderator: Tom Hood
• Named as fourth Most Influential in
Accounting by Accounting Today Magazine
• Top 150 Influencer by Linked-In
• Top 25 Influencers in Learning & HR by HR
Examiner
• Top 25 Public Accounting Thought Leaders
by CPA Practice Adviser
• Working on Learning Management with
AICPA/CPA2Biz, Cloud Curriculum,
Performance Management /XBRL,
Leadership & Generations
Tom Hood, CPA, CITP, CGMA
CEO
MACPA
www.macpa.org
and
Business Learning Institute
(BLI) www.blionline.org
http://www.linkedin.com/in/tomhood/
15. The Question
How do I increase my odds
and make the right bets on
which strategies to pursue
and how to get them done
in aVUCA world?
16. The Opportunity – Be the House
• 15 X – ROI on Strategy as Process & Alignment
(Jim Collins – Built to Last)
• 8 X – Engagement &Trust (Gallup)
• 10X – Return on Leadership (Information Masters)
• 20 X – Return on Culture (Information Masters)
• 3 X - Return on Positivity (Dr. Barbara Frederickson)
“In order to buy-in, I have to weigh in.” – Pat Lencioni
18. Return on Investment
Cri8cal
Areas
Investment
Return
People
2%
20%
Processes
2%
15%
Organiza?on
Structure
2%
10%
Culture
1%
20%
Leadership
1%
10%
Informa?on
10%
15%
Technology
82%
10%
Source:
Informa?on
Masters
–
Secrets
of
the
Customer
Race
by
John
McKean
19. Create - Start with why?
People don’t
buy what
you do, they
buy why you
do it!
20.
21. #Vision&Strategy
“If you don’t have a vision for
your firm or yourself, you’ll
just get sucked into
somebody else’s vision”
– adapted from Watts Wacker, Futurist
7/4/13
T
22. Why
Reassess
& Renew
Where are
we going
Link &
Leverage
How are
we going to
get there
Why we do
what we do.
Purpose &
Values
Our strategic
Initiatives and priorities
How are our day to
day activities
connected to our
purpose & strategy
What did we learn? How
is the world changing?
Critical
Turning
Point
The
Bounce
Copyright 2012 – Business Learning Institute
Our envisioned future.
What do we want to be,
do, create, experience,
and have?
High
Performance
Organiza?ons
–
Strategic
&
Systema?c
24. A
tale
of
two
firms
• One
founded
in
1921
• One
founded
in
1977
• One
has
967
staff
$202
million
in
Revenue
• One
is
Top
20
and
the
other
is
no
longer
in
existence
35. CPAs
are
trusted
advisors
who,
combining
insight
with
integrity
deliver
value
by:
T
Communica8ng
the
total
picture
with
clarity
and
objec?vity
Transla8ng
complex
informa?on
into
cri?cal
knowledge
An8cipa8ng
and
crea?ng
opportuni?es
Turning
insights
into
ac8on
to
transform
vision
into
reality
39. Strategy as Process creates employee engagement
Gallup studies proved that corporations with higher
engagement levels generated:
• 27% higher profits
• 50% higher sales
• 50% higher customer loyalty
• 38% above average productivity
“Employee Engagement is an outcome-based concept.
It is the term which is used to describe the degree to which
employees can be ascribed as aligned and committed to their
organization such that they are at the most productive.”
-The International School of Human Capital Management
40. Cascading Alignment throughout the
organization creates Commitment
Firm-‐wide
Regional
Prac?ce
Levels
Office
Level
Individuals
Align
Their
Goals
to
the
Firm
Cascading by understanding the
top level goals
and linking the
next level down
through the
organization
Sample alignment
worksheet from
MACPA
49. Leading
Innova?on
1. OK,
let's
give
it
a
whirl!”
2. It's
harder
than
it
looks.”
3. It
seems
to
be
working!”
4. We're
reaching
the
point
of
no
return.
Do
we
really
want
to
do
this
forever?”
5. Hey,
we're
star?ng
to
get
really
good
at
this.
Source:
IDEO
Project
Mood
Chart
50.
51. “In
a
period
of
rapid
change
and
increasing
complexity,
the
winners
are
going
to
be
the
people
who
can
LEARN
faster
than
the
rate
of
CHANGE
and
faster
than
their
COMPETITION.”
-‐
Tom
Hood,
CPA.CITP.CGMA
7/4/13
T
52. Four Generations in the Profession
Millennials (GenY)
- Born btw 1980 2000
Generation X
- Born btw 1965 1979
Baby Boomers
- Born btw 1946 1964
Matures (Traditionalists)
- Born btw 1945 1925
53. Workforce
Demographics
–
Are
you
ready
for
the
shit
change?
Email
Generation
Facebook
Generation
These guys are retiring
These are making the
purchasing decisions
These are the new
workers
63. FiveThings Every Professional Needs to
be Good At
1. Learning and staying on the cutting edge.
2. Managing your career (yep, you have to
take charge of your own career).
3. Doing the work (research, productivity,
communication).
4. Interacting with your peers and colleagues.
5. Becoming a thought leader in your field.
- Allen Blue co-founder Linked-In
hup://lnkd.in/HghTcX
70. Five Things to Get You Started
1. Create
a
digital
footprint
2. Start
listening
3. Make
friends
4. Create
Share
5. Recognize
Reciprocate
http://www.cpalearning2.com
71. #Innovation
• Lots of ways to mess
up!
• Heat is needed to shape
the glass
• Long setup time for
quick finish
• Try, learn and adjust
-Tim McFadden
T
72. It is more important to have your team:
• Thinking strategically than having a strategic plan.
• Understanding the direction and foundation (vision, values
strategic intent) of the firm than having a detailed
five-year plan.
• Engaging in the firm’s future as a whole organization, not
just the partners.
• Aligning and on the same page than working
independently in their own silos.
• Engaging and participating than being idle observers.
• Focusing on the future than questioning the past.
73. Where do you start?
• Build on Strengths
• Seek High Leverage
Opportunities
• Involve your whole firm
• Leverage Technology
74. T
You can’t stop the waves but you can learn how to surf.
– Jon Kabbat-Zin
75. A
leader’s
job
is
to
define
context
and
provide
hope
and
inspira?on..
.
76. Tom
Hood,
CPA.CITP
CEO
Maryland
Associa8on
of
CPAs
Business
Learning
Ins8tute
(443)
632-‐2301
E-‐mail
tom@macpa.org
Web
hUp://www.macpa.org
Blog
hUp://www.cpasuccess.com
Blog
hUp://www.bizlearningblog.com
Follow
me
on:
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ü
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