Fcmb march 2011 day 3 revised

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  • Importance to learning and mastery cannot be underestimatedBuild (black text) by me in differerent ways – but not good enough for learning by busy peopleBuild (multi-coloured text) – repetition through practice
  • At a macro level….
  • Q – what other important topic did we discuss yesterday (day 2) that this picture should remind you of?(BUILD) *** Misalignment- Importance of repetition again to learning
  • How do you know?What means do you use to find out?
  • BUILD slide -
  • Shape the future – establish how industry operates – set technical standards; innovate in products; affect regulation. (willingness to be wrong)Adapt to the future – win by being most agile, fast, flexible – means innovating and experimenting constantly (how failure is treated)Reserve the right to play – invest in small possible futures, not enough to make a significant commitment, but enough to have a toehold if the situation changes (partnerships, vs. acquisitions)
  • Rohrbeck, Rene (2010) Corporate Foresight: Towards a Maturity Model for the Future Orientation of a Firm, Springer Series: Contributions to Management Science, Heidelberg and New York,
  • Best leader – what did he/she do?
  • WHY?
  • Fcmb march 2011 day 3 revised

    1. 1. Fundamentals of Strategy<br />Building the Future<br />Douglas Reid<br />dreid@business.queensu.ca<br />@douglasreid<br />
    2. 2. Recap<br />Estimating the future<br />Break<br />Stress testing <br />assumptions<br />Making choices <br />under uncertainty<br />Lunch<br />Your advice to <br />Executive Mgmt.<br />Conclusion<br />What to read<br />
    3. 3. Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />Repetition<br />
    4. 4. Customer <br />willingness to pay<br />Strategy<br />Cost of delivering <br />what the customer buys<br />
    5. 5. Implementation happen<br />primarily by changing <br />the allocation of resources<br />consistent with objectives<br />
    6. 6. Money<br />Brands, equipment, IP, <br />licenses, machinery, <br />information, etc.<br />Any non-human asset<br />of an organization that<br />a manager can deploy <br />
    7. 7. People<br />Skills<br />
    8. 8. Time<br />Duration, sequence and <br />project choices to which <br />you apply the money and <br />people that you have<br />
    9. 9. Misalignment<br />
    10. 10.
    11. 11. Leadership<br />
    12. 12. To become a more effective leader, I will…<br />Do more of…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />Do less of…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />Start doing…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />Stop doing…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />
    13. 13. Customer <br />willingness to pay<br />Strategy<br />Cost of delivering <br />what the customer buys<br />
    14. 14. Is your strategy “good enough” <br />for the future?<br />
    15. 15. Why this matters<br />No clear<br />future<br />Range of <br />futures<br />Discrete <br />possible <br />futures<br />Predictable<br />Source: Courtney, Kirkland and Viguerie, 1997<br />
    16. 16. Sources of threat <br />and opportunity<br /><ul><li>Changing customer preferences
    17. 17. Competitor actions
    18. 18. Economic conditions
    19. 19. Social trends / changes
    20. 20. Political / legal
    21. 21. Technological advances
    22. 22. More or less globalization</li></ul>Before<br />After<br />
    23. 23.
    24. 24. Overall threat assessment: <br />6<br />1<br />2<br />4<br />5<br />3<br />No clear<br />future<br />Range of <br />futures<br />Discrete <br />possible <br />futures<br />1<br />2<br />3<br />4<br />5<br />Overall opportunity assessment: <br />6<br />Predictable<br />
    25. 25. What if…?<br />
    26. 26. What <br />assumptions <br />have you<br />made?<br />
    27. 27. Now what?<br />
    28. 28. Postures<br />Shape the future<br />Adapt to the future<br />Reserve the right to play<br />____________________<br />Tactics<br />Scenario planning<br />Option-based decisions<br />“Plan B”<br />Measurement<br />
    29. 29. Customer <br />willingness to pay<br />Strategy<br />Cost of delivering <br />what the customer buys<br />
    30. 30. Priorities for our bank<br />Advice to FCMB <br />executive management<br />
    31. 31. To achieve excellence as a bank, we recommend that FCMB must…<br />Do more of…<br />1. ___________________<br />_____________________<br />2. ___________________<br />_____________________<br />3. ___________________<br />_____________________<br />Do less of…<br />1. ___________________<br />_____________________<br />2. ___________________<br />_____________________<br />3. ___________________<br />_____________________<br />Start doing…<br />1. ___________________<br />_____________________<br />2. ___________________<br />_____________________<br />3. ___________________<br />_____________________<br />Stop doing…<br />1. ___________________<br />_____________________<br />2. ___________________<br />_____________________<br />3. ___________________<br />_____________________<br />
    32. 32. Let’s sum up…<br />
    33. 33. You always have <br />choices about <br />building your future<br />
    34. 34. The most important<br />choice is to begin.<br />
    35. 35. For your staff, <br />only you can create <br />conditions where <br />their desire for <br />excellence can <br />flourish.<br />
    36. 36. Structural and cultural elements…<br />that enables an organization to:<br />detect discontinuous change early,<br />interpret the consequences, <br />and formulate effective responses.<br /> Rene Rohrbeck, 2010<br />
    37. 37. 1. Operational Decision Making<br />2. Coaching and Developing<br /> Others<br />3. Empowerment/Delegation<br />4. Establishing Strategic<br /> Direction<br />5. Influence<br />6. Financial Acumen<br />7. Driving Execution<br />8. Customer Focus<br />
    38. 38. Customer <br />willingness to pay<br />Strategy<br />Cost of delivering <br />what the customer buys<br />
    39. 39. What kind of future awaits?<br />No clear<br />future<br />Range of <br />futures<br />Discrete <br />possible <br />futures<br />Predictable<br />Source: Courtney, Kirkland and Viguerie, 1997<br />
    40. 40. Leaders influence<br />
    41. 41. Be clear about your values<br />What will you NOT tolerate?<br />
    42. 42. Choose action<br />
    43. 43. Seekand embrace <br />responsibility<br />
    44. 44. Enable cooperation<br />
    45. 45. Develop others<br />
    46. 46. To become a more effective leader, I will…<br />Do more of…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />Do less of…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />Start doing…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />Stop doing…<br />___________________<br />___________________<br />___________________<br />___________________<br />___________________<br />
    47. 47. What to read<br />Managing, Mintzberg, 2009<br />Execute, Bossidy and Charan, 2002<br />What Management Is, Magretta, 2002<br />The Human Equation, Pfeffer, 1998<br />
    48. 48. Next step: operational excellence<br />
    49. 49. Thank you!<br />

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