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Miche - Achieving Business Excellence


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Miche - Achieving Business Excellence

  1. 1. 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.• Keep an open mind.• Work very hard… take this seriously. The slides and workbook are already posted at:
  2. 2. For the past 21 years…
  3. 3. “Simplicity isthe ultimatesophistication” Leonardo da Vinci
  4. 4. Do you have a clearly focused andwell-communicated strategy for success? Effective Strategy = Valued Differentiation x Execution
  5. 5. Five Foundations of Effective Strategic Thinking Business AcumenPersonal ExperiencePattern Recognition Strategic Insight 2Disciplined Execution
  6. 6. The Four – I’s• Ignorance• Inflexibility• Indifference• Inconsistency Page 2
  7. 7. How to avoid the Four I’s• Aggressive external market focus.• Ridiculously high level of 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. Page 3
  8. 8. To get the most from our session together… It is absolutely critical that you bebrutally honest with yourself today. So lets get started with a little self-test… page 3 3
  9. 9. Southwest One type of plane Point-to-point Fast turnsLow fares / no frills Friendly staff
  10. 10. BTO JIT Inventory turnsLogistics vs. Technology VOC Dell
  11. 11. Southwest – Dell – Walmart What is the pattern?• Extreme Efficiency• Minimize Costs to as close to zero as possible – w/o negative impact• All focused on delivering customer value
  12. 12. From the CEO of a little 172 billion dollar company… Look, what is strategy but resource allocation? When you strip away all the noise, that’s what it comes down to. Strategy means making clear-cut choices about how to compete. You cannot be everything to everybody, no matter what the size your business or how deep its pockets. You have to figure out what to say “NO” to. Jeffrey Immelt
  13. 13. (T + C + ECF) x DE = Success
  14. 14. Charlie Trotter’s 4
  15. 15. Lessons from seven top CEOs Dell, Welch, Gerstner, Grove, Gates, Kelleher, Walton = 696 B • Have an outside-in perspective • Be deeply passionate about your job • Understand the importance of culture • Create or adapt next generation products, processes and solutions • Implement the best ideas regardless of origin 1-10 4From: What the Best CEOs Know by Krames
  16. 16. The Toyota Way• 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. 5
  17. 17. 25 Top Companies = Results Rule WS: 5
  18. 18. $16,000,000,0001. Collaborative Partnerships with Customers2. Drive Unique Value and Growth throughInnovation3. Invest in People4. Leverage Talent and Knowledge through 6Communication and Trust
  19. 19. • Lack of TRUST• Lack of candor• Lack of commitment• Lack of accountability• Lack of results NIBT
  20. 20. HIGH Affection TRUSTConcern Distrust Respect LOW LOW HIGH Competence 6
  21. 21. “I am good atwhat I do… and I do it because Icare about you.”
  22. 22. Is Your Company Up To Speed? Pages 7 - 8Fast Company June 2003
  23. 23. Good to Great KNL Pay The Price 9
  24. 24. Twice weekly surveys for five years of2,000+ senior managers and executives at:• IBM • Fidelity• GE • Motorola• Morgan Stanley • Ikon• Merck • American Express• 3M • Progressive• Microsoft • Bank of America• CIGNA • AT&T• Heineken • SAP• MasterCard • Borders 9
  25. 25. Keys to effective management… • Communicate clearly • Force the hard decisions • Focus on results 1 - 10 • Remain flexible to change • Prove your value to the customer • Force collaboration • Rigorous but not ruthless… 9From: Think Big – Act Small by Jennings
  26. 26. The Evergreen Project10 year study of 160 top companies40 distinct industries200 management practicesWinners, climbers, tumblers, losersWinners 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 10
  27. 27. 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. 10From: What (really) Works by Joyce, Nohria, Roberson
  28. 28. 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 10From: What (really) Works by Joyce, Nohria, Roberson
  29. 29. Key Drivers of Financial Performance Business Success T olerate CR=104.12 N othing Global study: Quality P&S L ess 16 countries & Customer Relationship 29 companies 139 offices CR= .404 5,589 respondents Employee CR=.277 Satisfaction CR=.275 Workshop CR=.249 CR=.334 Page 12 Empowerment CR=.280 Coaching High Standards CR=.28 CR=.37 CR=.36 CR=.19 CR=.24 5 1 5 1 7 Long-term Enthusiasm, Training & Fair Orientation Commitment, Development Compensation Respect 11From: Practice What You Preach by Maister
  30. 30. 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%)
  31. 31. 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.
  32. 32. Where are we going + how will we behave on the way? Praise + Celebration Focus and Differentiation Eliminate Mediocrity “No”Measure / Track Communicate Stakeholders + Transparency guiding collation Renewal Vision + Values Training + Strategy time / money / Plans supplies / Goals / people Objectives Tactics / Actions Procedures / Protocols Clear / consistent / Repeatable Process relentless
  33. 33. Disciplined Execution Clear Vision Detailed Strategy Guiding Coalition Alignment Systems 1 - 10 Communication Support Adjust Reward / Punish 13
  34. 34. & 15 es 14 PagRe ad
  35. 35. 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 – 18.• Put in as much detail as possible.• Be very honest with yourself.• Think in terms of Actions and Outcomes.
  36. 36. 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: @awesomelysimpleAlso, 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: