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Best Practices in Strategy Implementation

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Best Practices in Strategy Implementation

  1. 1. Best Practices in Strategy Implementation © 2014 Blue Canyon Partners, Inc.
  2. 2. NO SHORTCUTS “The road to success is always under construction…” --LILY TOMLIN 2 © 2014 Blue Canyon Partners, Inc.
  3. 3. New Business Models Shifts…  from a domestic business to a global business  between a business market and a consumer market  in the focus between small customers and large customers  between a project business and a service business  from a product sales to a solutions offer  from a bricks-and-mortar channel to an e-channel 3 © 2014 Blue Canyon Partners, Inc.
  4. 4. Challenges in Implementing New Business Models 4 © 2014 Blue Canyon Partners, Inc.
  5. 5. The Portrait of Success “What will success look like in three years?” Performance Metrics  Financial Metrics  Operating Metrics  Market Share Metrics Market Presence / Impact  Position with OEM Customers  Channel & End Customer Outreach  Brand Image Portrait of Success Operations  Supply Chain Management  Build-to-Order  Kitting, Assembly  Inventory Management, Fulfillment Differentiation & Value Proposition  Product & Service Offer  Competitive Standing  Match to Customer Requirements Organization  Organizational Structure  Reporting Relationships  Functional Roles & Responsibilities  Decision-Making Cadence  Marketing & Sales Competencies * See Atlee Valentine Pope and George F. Brown, Jr., CoDestiny: Overcome Your Growth Challenges by Helping Your Customers Overcome Theirs, Austin, TX: Greenleaf Book Group Press, © 2010, Chapters 17 & 18. 5 © 2014 Blue Canyon Partners, Inc.
  6. 6. The Portrait of Success “What will success look like in three years?” Differentiation and Value Proposition  Identify XYZ as a supplier that is the energy efficient expert. (e.g., has earned the energy efficiency ‘seal of approval’, is knowledgeable and can educate confused customers, is on top of emerging change and complexity.)  Brings a breadth and depth of all window systems and components to the market (including XYZ-made and consolidated with nonXYZ made products.) Performance Metrics Market Presence Portrait of Success  Fast in delivery by offering product configuration and consolidator capabilities to customers.  Has built strong, trusted relationships with key OEM customers and their value added regional specialty retailers. Differentiation & Value Proposition  Product & Service Offer  Competitive Standing  Match to Customer Requirements  XYZ is positioned to meet the higher demand levels forecasted in later years in new construction. Operations 6 Organization © 2014 Blue Canyon Partners, Inc.
  7. 7. Basic Blocking and Tackling Develop an Action Plan (What and When) Assign Responsibility and Authority (Who) Implementation Choose a Decision Strategy Allocate Resources and Budgets Communicate the Plan and Gain Approvals and Buy-in Revise and Update Necessary Elements Define a Monitoring and Management Plan Develop Feedback on Progress towards Goals See Atlee Valentine Pope and George F. Brown, Jr., CoDestiny: Overcome Your Growth Challenges by Helping Your Customers Overcome Theirs, Austin, TX: Greenleaf Book Group Press, © 2010, Chapters 17 & 18. 7 © 2014 Blue Canyon Partners, Inc.
  8. 8. Underlying Themes for Implementation        Monitor Murphy’s Law Executive Ownership Monday Morning Action Clarity Early Successes The A Team Killer Variables Contingency Planning and Funding See Atlee Valentine Pope and George F. Brown, Jr., CoDestiny: Overcome Your Growth Challenges by Helping Your Customers Overcome Theirs, Austin, TX: Greenleaf Book Group Press, © 2010, Chapters 17 & 18. 8 © 2014 Blue Canyon Partners, Inc.
  9. 9. Focus and Attention “Just because it isn’t rocket science doesn’t mean it isn’t hard.”     Detailed, Fact-Based Strategy and Plan Best-in-Class Project Management Full-Time Project Team with the Right Skills Communication, Monitoring, Learning, and Removing Barriers Recommendations from a Survey of Executives on the Topic of Managing Changes in a Firm’s Business Model. See George F. Brown, Jr., You Know It Ain’t Easy, Blue Canyon Partners, Inc., © 2011. 9 © 2014 Blue Canyon Partners, Inc.
  10. 10. Best Practice Recommendations 10 © 2014 Blue Canyon Partners, Inc.
  11. 11. 1. Focus on the Six “Blocking and Tackling” Basics…. you can’t overdo the basics  Establish an implementation framework: What, Who, When, Communications, Resources, Monitoring  “Don’t neglect the details”, “Measure twice, cut once”, “Plan the work and work the plan”, “Check your work”, etc.  “Horror stories” involve shortcomings in the basics  The three-team approach  Communicate where you are going and why it will benefit the organization 11 © 2014 Blue Canyon Partners, Inc.
  12. 12. 2. Assign the Right Team Members Who Have Leadership and Implementation Skills  The “A team”  Never turn over the implementation process to “the organization’s homeless.”  A strong team can “do the right things…right” 12 © 2014 Blue Canyon Partners, Inc.
  13. 13. 3. Develop Formal, Explicit Organizational Competencies Around Implementation     Specific training during an implementation project Formal education and on-the-job training Avoid learn-on-the-fly approaches Reinforce that implementation is important 13 © 2014 Blue Canyon Partners, Inc.
  14. 14. 4. Arm the Implementation Team with Tools and Resources     Project management tools Communication protocol tools Implementation rhythm: work streams, reviews Linked to management processes 14 © 2014 Blue Canyon Partners, Inc.
  15. 15. 5. Get Executives Involved and Committed–Early  Executive involvement is critical  Can’t be either “last minute” or occasional  Must involve high-frequency interactions 15 © 2014 Blue Canyon Partners, Inc.
  16. 16. 6. Connect the Strategy Team and the Lessons That it has Learned to the Implementation Plan and Process  Strategy team remains a vital source of insight  Knowledge can help avoid problems  Retain expertise through involvement on the implementation team or during the monitoring 16 © 2014 Blue Canyon Partners, Inc.
  17. 17. 7. Champion Realistic Milestones and Early Successes     Achieve success through a succession of short steps Prioritize solving small problems Avoid unrealistic milestones Provide adequate resources to address unexpected contingencies 17 © 2014 Blue Canyon Partners, Inc.
  18. 18. 8. Pre-plan the Monitoring Process      Be proactive Spot killer variables Role play competitor responses Develop a “Plan B” Avoid delays and dead time 18 © 2014 Blue Canyon Partners, Inc.
  19. 19. 9. Bring Lessons From Other Environments into Implementation Planning  Identify and tap other insights from other environments  Factual content (e.g., how long does it take to…) and best practice insights (e.g., in China, one key to success involves…)  Catalog the unknowns identify relevant sources 19 © 2014 Blue Canyon Partners, Inc.
  20. 20. 10. Manage External Customer Chains       Every project will eventually extend “outside its core” Develop insights about the implications for “outside” Motivate their involvement and collaboration Answer “what’s in it for me?” Communicate what will change and what won’t Don’t fail to forecast third-party implications 20 © 2014 Blue Canyon Partners, Inc.
  21. 21. Implementation Tool: External Dashboards 21 © 2014 Blue Canyon Partners, Inc.
  22. 22. Summary     Focus Keep people informed Be optimistic Be prepared to find alternative routes 22 © 2014 Blue Canyon Partners, Inc.
  23. 23. For greater insight into the ideas presented, visit: codestinybook.com 23 © 2014 Blue Canyon Partners, Inc.
  24. 24. About Blue Canyon 24 © 2014 Blue Canyon Partners, Inc.
  25. 25. Overview Who are we?  Management consulting firm  Serve Global 1000 business-to-business companies  Team of seasoned consultants  U.S. & global capabilities with offices in Chicago and Beijing What makes us different? What do we do?  Address growth challenges  Foster win-win outcomes  Agriculture  Customer-driven strategies  Electronics  Pricing pressures  Value creation  Channel conflict  Generic brands  Based on what the market is telling us  Stalled business models  New market expansion  Hindered major customer relationships  Industries  Centered on understanding complex, external environments [markets, customers, channels, competitors]  Commoditization  Competitive threats What is our experience?  Leverage proven methodologies to develop cutting-edge answers  Gets clients to make decisions and to take action  Capturing service rewards  Mergers & acquisitions 25  Vehicles  Construction  Distribution/Wholesaling  Industrial Equipment  Oil & Gas  Packaging  IT & Telecommunication  Tools & Equipment  Utilities  And more…. © 2014 Blue Canyon Partners, Inc.
  26. 26. Our Global Reach Blue Canyon has spanned the globe, researching, defining, and building action-oriented growth strategies for its global clients. Our clients include firms from North America, Europe, and Asia, and our assignments have taken Blue Canyon team members to more than 45 countries. 26 © 2014 Blue Canyon Partners, Inc.
  27. 27. Our Thought Leadership Our work has been featured in a wide array of leading publications                American Management Association Business Excellence Chief Executive Consulting Magazine Marketing Management Corp! Customer Service Manager Forbes Industrial Engineer Industrial Management Industrial Supply Industry Week Material Handling & Logistics Sales and Service Excellence Transport Topics 27 © 2014 Blue Canyon Partners, Inc.
  28. 28. Our Team EDUCATION INDUSTRY EXPERIENCE  Blue Canyon professionals hold advanced degrees from some of the finest educational institutions  PhDs in economics from Harvard and Carnegie Mellon and MBAs from Kellogg, the University of Chicago, University of Michigan and Wharton  Well-rounded in a wide variety of disciplines, including mathematics, manufacturing technology, rhetoric, Soviet studies, and liberal arts from universities such as Northwestern University, University of Illinois, The University of the South, University of Chicago, Colorado College and Washington University  Our staff comes to us with experience from other prestigious consulting firms and broad and deep industry experience, having held positions at:   JPMorgan Chase  General Electric  Harvard University  National Bureau of Economic Research  Blue Cross Blue Shield  28 DRI/McGraw Hill Rockwell Automation © 2014 Blue Canyon Partners, Inc.

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