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Excellence in work and business

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Lecture delivered at Salem University, Lokoja, Nigeria

Published in: Business
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Excellence in work and business

  1. 1. Achieving Business Excellence
  2. 2. Achieving Business Excellence
  3. 3. Achieving Business ExcellenceDo you have a clearly focused and well-communicated strategy for EXCELLENCE? EXCELLENCE = Value Differentiation + Execution
  4. 4. Achieving Business ExcellenceKey Point:EXCELLENCE is EXTERNAL as well as INTERNAL
  5. 5. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence Five Foundations of EXCELLENCE in work Prepare Ahead Personal Experience Pattern RecognitionStrategic (scriptural) Insight Stick to Plan
  6. 6. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence The Four – I’s • Ignorance • Inflexibility • Indifference • Inconsistency 2
  7. 7. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence How to avoid the Four I’s• Aggressive external market focus.• Aggressive customer focus.• Keep the “Main Things” the main things.• Bullish on knowledge sharing and learning.• Passion and commitment at all levels.• Be agile, adaptive, and anticipatory.• Revel in change.
  8. 8. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence Southwest One type of plane Point-to-point Fast turns Low fares / no frills Friendly staff
  9. 9. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence Inventory turns Logistics vs. Technology Function vs. Fashion Dell
  10. 10. Achieving Business Excellence
  11. 11. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence Educated Guess Differentiated Strategy Focus Resource Allocation Bold Not Risky What NOT To Do
  12. 12. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence NEVER negotiate It
  13. 13. Achieving Business ExcellenceCharlie Trotter’s Hire for Desire Teamwork: NP Communication Highest Standards Innovation Truly Delight Customers
  14. 14. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence 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 originFrom: What the Best CEOs Know by Krames
  15. 15. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence 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.
  16. 16. EXCELLENCE IN WORK AND BUSINESS Achieving Business ExcellenceIn-depth study of 25 top companies renowned for building winning corporate cultures… • GE • Southwest Airlines • Dell • IBM • Wal-Mart • P&G • Toyota • Whole Foods • Nordstrom • Ritz Carlton • Starbucks • Intel The pattern of six common traits for all of these firms… From Results Rule by Randy Pennington
  17. 17. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence They understand that: Results Rule! 1. Tell themselves the truth and value candor and honesty. 2. Pursue the best over the easiest in every situation. 3. Leverage the power of partnerships both internally and externally. 4. Focus the energy to make the main things the main thing. 5. Show the courage of accountability. 6. Learn, grow and improve every single day.From Results Rule by Randy Pennington
  18. 18. Achieving Business ExcellenceIs Your Business Up To Speed?
  19. 19. EXCELLENCE IN WORK AND BUSINESS Achieving Business ExcellenceGood to Great: 1,483 to 11 400 – 700% 15+ years
  20. 20. Achieving Business ExcellenceKeys to maintaining excellence at Work & Business • 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
  21. 21. Achieving Business ExcellenceThe 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
  22. 22. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence 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.From: What (really) Works by Joyce, Nohria, Roberson
  23. 23. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence 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.From: What (really) Works by Joyce, Nohria, Roberson
  24. 24. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence Key Drivers of Financial Performance Business Success Tolerate CR=104.12 Nothing Global study: Quality P&S Less 16 countries & Customer Relationship 29 companies 139 offices CR= .404 5,589 respondents Employee CR=.277 Satisfaction CR=.275 CR=.249 CR=.334 CR=.280 Empowerment Coaching High Standards CR=.285 CR=.371 CR=.365 CR=.191 CR=.247 Long-term Enthusiasm, Training & Fair Orientation Commitment, Development Compensation RespectFrom: Practice What You Preach by Maister
  25. 25. EXCELLENCE IN WORK AND BUSINESS Achieving Business ExcellenceDisciplined Execution Clear Vision Detailed Strategy Guiding Coalition Alignment Systems Communication Support Adjust Reward / Punish
  26. 26. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence 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 14 – 16.• Put in as much detail as possible.• Be very honest with yourself.• Think in terms of actions and outcomes.
  27. 27. EXCELLENCE IN WORK AND BUSINESS Achieving Business Excellence THANK YOU If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.comAlso, you might find value in the ideas I share in my blog. You can sign up for it at: www.johnspence.com/blog Lastly, I have a new book coming out in September!

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