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Eo vancouver 6.14 updated


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Eo vancouver 6.14 updated

  1. 1. Achieving Business Excellence Understanding the Pattern of Business Success
  2. 2. This is a very special workshop • I have a ton to cover and I will go pretty fast. • 80% is in the book. • Please take notes and ask questions. • I am happy to answer any of your questions, offer advice and recommend books at any time. • Work very hard… take this seriously. The slides are already posted at:
  3. 3. Most people are so busy working IN their business thatthey do not take any time to work ON their business.
  4. 4. What does this mean to me? How can I use this idea? What can I do right away?
  5. 5. Reality Check Knowing – Doing 1 -10
  6. 6. 1 The Four Ps
  7. 7. (T + C + ECF) x DE = Success 1
  8. 8. Do you have a clearly focused and well-communicated vision and strategy for growth? Effective Strategy = Valued Differentiation x Execution
  9. 9. Five Foundations of Effective Strategy Business Acumen Personal Experience Pattern Recognition Strategic Insight Disciplined Execution 1
  10. 10. The Four – I’s • Ignorance • Inflexibility • Indifference • Inconsistency Page 1
  11. 11. How to avoid the Four I’s 1-10 • Aggressive external market focus. • Aggressive customer focus. • Keep the “Main Things” the main things. • Bullish on knowledge sharing and learning. • Teamwork is mandatory – not optional. • Passion and commitment at all levels. • Foster a healthy paranoia. • Revel in change. 1
  12. 12. • The willingness… even enthusiasm… to change EVERYTHING combined with the wisdom to understand what must NEVER be changed.
  13. 13. The Key To Success in the New Normal… •Nimbleosity •Nim-bo-licous
  14. 14. To get the most from our session together… It is absolutely critical that you be brutally honest with yourself today. 2 So let's get started with a little self-test… page 2
  15. 15. “Simplicity is the ultimate sophistication” Leonardo da Vinci
  16. 16. 10,000 High Potential Employees Abbott, GE, Merrill Lynch, Microsoft, IBM, Apple, State Farm, Mayo Clinic
  17. 17. 1. Character 2. Courage 3. Communication 4. Collaboration 5. Competency 6. Compassion 7. Contribution 3
  18. 18. The Toyota Way 1-10 • Challenging Vision – We form a long-term vision, meeting challenges with courage and creativity to realize our dreams. • Kaizen – We improve our business operations continuously, always driving for innovation and evolution. • Genchi Genbutsu – We go to the source to find the facts to make correct decisions, build consensus, and achieve our goals at our best speed. • Respect, Challenge and Help your People and Suppliers – We respect others, make every effort to understand each other, take responsibility and do our best to build mutual trust. • Teamwork – We stimulate personal and professional growth, share the opportunities of development, and maximize individual and team performance. 4
  19. 19. 1,300,000 interviews: Basic 4 + 1 Wow — No Surprises — Celebrate 4 1-10
  20. 20. The level of highly satisfied and engaged EMPLOYEES in your business. The number one factor in increasing the level of highly satisfied and engaged CUSTOMERS in your business is…
  21. 21. What does it take to be a valued member of a team? Develop and display competence. Follow through on commitments. Deliver required results. Ensure your actions are consistent with your word. Stand behind the team and its people. Be enjoyable to work with. Be passionate about your work and those you serve. Communicate and keep everyone informed. Help the other members of the team. Help members of other teams. Share ideas, information and credit. Hold yourself 100% accountable.
  22. 22. • D • M • C • C • M • D irection – vivid, clear, inspiring --- shared easurements – specific, observable, focused ompetence – very good at what they do ommunication – open, honest, courageous utual Accountability – all team members iscipline – do this every day 5
  23. 23. 10 Key Team Competencies: 1. Setting clear, specific and measurable goals. 2. Making assignments extremely clear and ensuring required competence. 3. Establishing accountability for high performance across the entire team. 4. Running effective team meetings. 5. Building strong levels of trust. 6. Establishing open, honest and frank communications. 7. Managing conflict effectively. 8. Creating mutual respect and collaboration. 9. Encouraging risk-taking and innovation. 10. Engaging in ongoing team building activities. 1 - 10 5
  24. 24. What do engaged employees look like? 1. They give more discretionary effort. 2. They consistently exceed expectations. 3. They take more responsibility and initiative. 4. They receive better customer service ratings. 5. They offer more ideas for improvement. 6. They promote and model teamwork. 7. They volunteer more for extra assignments. 8. They anticipate and adapt better to change. 9. They persist at difficult work over time. 10. They speak well of the organization. 1 - 10 6
  25. 25. TEN ELEMENTS OF A WINNING CULTURE 1. People enjoy the work they do and the people they work with 2. People take pride in the work they do and the company they work for 3. There are high levels of engagement, connection, camaraderie and a community of caring 4. There is a culture of fairness, respect, trust, inclusiveness and teamwork 5. The leaders walk the talk, live the values and communicate a clear vision and strategy for growth 6. Lots of open, honest, robust and transparent communication across the entire organization 7. The company invests back in employees; there is a commitment to learning, coaching and development 8. There is a bias for action, employees have an ownership mentality and always strive to give their personal best 9. There is high accountability and a strong focus on delivering the desired results 10. There is ample recognition and rewards and mediocrity is not tolerated 6 1 - 10
  26. 26. 9
  27. 27. Twice weekly surveys for five years of 2,000+ senior managers and executives at: • IBM • GE • Morgan Stanley • Merck • 3M • Microsoft • CIGNA • Heineken • MasterCard • Fidelity • Motorola • Ikon • American Express • Progressive • Bank of America • AT&T • SAP • Borders 10
  28. 28. Keys to effective management… • Communicate clearly • Force the hard decisions • Focus on results • Remain flexible to change • Prove your value to the customer • Force collaboration • Rigorous but not ruthless… 1 - 10 From: Think Big – Act Small by Jennings 9
  29. 29. Extreme Customer Focus
  30. 30. Web of Value: VOC + MOT + WOM 10
  31. 31. VOC 10
  32. 32. Moments Of Truth 10
  33. 33. VOC + MOT Workshop: Page 10
  34. 34. 78.9% 23.4%
  35. 35. 43% - 74% of purchasing decisions = WOM/T
  36. 36. You MUST have a WOM Referral System Identify Ideal Customer Refer Ideal Customer
  37. 37. WOM workshop page 11
  38. 38. The Evergreen Project 10 year study of 160 top companies 40 distinct industries 200 management practices Winners, climbers, tumblers, losers Winners had an average Total Return to Shareholders of 945%... The Losers only averaged a TRS of 62% From: What (really) Works by Joyce, Nohria, Roberson
  39. 39. The Four Primary Practices: 1. A sharply focused, clearly communicated and well-understood strategy for growth. 2. Flawless operational execution that consistently delivers the value proposition. 3. A performance-oriented culture that does not tolerate mediocrity. 4. A fast, flexible, flat organization that reduces bureaucracy and simplifies work. 12
  40. 40. The Secondary Management Practices: • Talent = find and keep the best people. • Key leaders show commitment and enthusiasm for the business. • Embrace strategic innovation. • Master the power of partnerships. Score yourself on the 1–10 scale for all eight practices on page 12
  41. 41. Key Drivers of Business Success 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 13 Workshop Page 14 Tolerate Nothing Less Global study: 16 countries 29 companies 139 offices 5,589 respondents
  42. 42. What Inhibits Execution? National Survey of 4,000 Senior Executives 4. Inability to work together (21%) 3. Company culture (23%) 2. Economic climate (29%) 1. Holding onto the past / unwillingness to CHANGE (35%)
  43. 43. In other words… • In order to succeed you need a high-performance team that embraces a strong culture of disciplined execution and accountability while being nimble, agile and adaptable to changes in the marketplace.
  44. 44. Disciplined Execution Clear Vision Detailed Strategy Guiding Coalition Alignment Systems Communication Support Adjust Reward / Punish 15 1 - 10
  45. 45. Individual Workshop • Go back and look at all of your audits. • Where were your low scores, where were your high scores – what is the pattern? • Look over your notes – what were the key themes? What are the most important ideas? • Answers all the questions on pages 16 - 20 • Put in as much detail as possible. • Be very honest with yourself. • Think in terms of Actions and Outcomes.
  46. 46. SMALL GROUP WORKSHOP - Page 22 •In your teams, share what you wrote on pages 16-20 (workbook is incorrect!). •Make sure that each person takes time to explain their findings and recommendations. •Then, combine all of your answers in order to create a group answer to the question on page 22
  47. 47. If you have any questions at all please do not hesitate to send a note or call. My email address is: My twitter address is: @awesomelysimple *** Please connect with me on LinkedIn *** Also, you might find value in the ideas I share in my blog. You can sign up for it at: Lastly, these slides have already been uploaded to: Page 25