Keynote - Excellence in Execution
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Leader have been taught how to plan but not how to execute and this has created a strategy execution skills gap. The skills gap is a key reason that more strategy executions fail than succeed. This keynote address how leaders can succeed where most of their competition are failing by . Once leaders have created the strategy it has to be executed and this is far from fait accompli; especially in a digital world where execution is even tougher. But leaders don’t execute strategy, their people do. Leaders are responsible for crafting the strategy and then overseeing and championing its execution. As stewards of the strategy, they must engage and support the people, communicate it, align it to the culture, identify the right measures, change the processes and constantly review its execution. Strategy is about making the tough choices; execution is about taking the right actions
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Keynote - Excellence in Execution
- 1. RS Robin Speculand Excellence in Execution Robin Speculand
- 5. RS Robin Speculand Strategy Execution 2002 2005 2008 2009 2013 2015 2016 BRIDGES 90% Kaplan & Norton 90% Neilson Franken The economist McKinsey BRIDGES 60% 70% 61% 70% 67% Year FAILURE100% BAD GOOD BAD
- 6. RS Robin Speculand of strategy implementations failed failed – we were steadily improving of digital executions fail – we are getting worse again! Questions on Excellence in Execution 90% 2002 67% 2016 84% 2019
- 11. RS Robin Speculand the whole strategy implementation challenge. underestimateLeaders
- 12. RS Robin Speculand “One of the criticisms we would have of some of our colleagues who have studied strategy (and some consultants who advice on strategy) is that they assume that once you design strategy it gets executed. Joseph Bowler, Professor of Business Admin Harvard Business School They don’t look inside the process and realize that it’s much more complicated.”
- 15. RS Robin Speculand Would you prefer to have: Good strategy executed badly Bad strategy executed well? A B
- 16. RS Robin Speculand A winning strategy And A successful executed
- 20. RS Robin Speculand Why is being able to implement a business differentiator?
- 21. RS Robin Speculand Most companies are poor at creating strategy and even worse at executiontion.
- 22. RS Robin Speculand Leaders are educated to plan not to execute
- 23. RS Robin Speculand Jamie Dimon, CEO of JPMorgan Chase “I’d rather have a first-rate execution and second-rate strategy any time than a brilliant idea and mediocre management.”
- 26. RS Robin Speculand The Story of Strategy Execution so far…
- 27. RS Robin Speculand The Current Equation Vision, Mission & Values Strategy Change Management RESULTS NOT FOR MOST COMPANIES
- 29. RS Robin Speculand Go beyond traditional change management Vision, Mission & Values Strategy Creation Change Management Execution Challenge Execution
- 30. RS Robin Speculand Eight Areas of Excellence in Execution People Biz Case Communication Measure Culture Process Reinforce Review
- 31. RS Robin Speculand Then execution is about… Shareholder Value If strategy is about making the right choices Strategy
- 35. RS Robin Speculand Strategy is your map of where you are and where you are going Compass shows you the right direction Leaders are the guide sharing the best route and avoiding obstacles
- 37. RS Robin Speculand Execution requires people to…
- 41. RS Robin Speculand Do you understand how your employees are feeling and know what they are thinking?
- 42. RS Robin Speculand The caliber of the people in the room dictate the caliber of the execution
- 43. RS Robin Speculand What is the number one factor for making an effective team? Google is a data-loving organization and so they went out to prove, (through robust, evidence based research) what makes a group of people a high performing team. A 3-year research project called Project Aristotle Analyzing 180 teams Comparative analyses from other industries and previous psychological studies Identifying patterns of reliable proof
- 44. RS Robin Speculand 1 2 3 4 5 Psychological Safety Team members feel safe to take risks and Be vulnerable in front of each other. Dependability Team members get things done on time and meet Google’s high bar of excellence Structure & Clarity Team members have clear roles, Plans, and goals Meaning Work is personally important to Team members Impact Team members think their work matters And creates change
- 45. RS Robin Speculand +17% Safe team unsafe Team -19% TARGET SALES REVENUE Teams that feel safe beat their sales targets Google’s five keys to successful team
- 47. RS Robin Speculand What does successful implementation of the strategy look like?
- 48. RS Robin Speculand The grandma test
- 49. RS Robin Speculand Make the transformation meaningful.
- 51. RS Robin Speculand 15% © 2019 Bridges Business Consultancy Int, All Rights Reserved What is the goal of communicating strategy? Match the four statements to the percentage of the goal of communicating strategy : Guiding your people to take the right actions Communicating updates against the strategy objectives Sharing the strategy Inspiring people to take the right actions 25% 50% 10%
- 52. RS Robin Speculand Goal of Communicating Strategy Sharing the Strategy Guiding your people to take the right actions Inspiring people to take the right actions Constantly updating progress against the strategy objectives 15% 25% 10% 50%
- 55. RS Robin Speculand Change your Strategy, Change your Measures
- 56. RS Robin Speculand It’s not a matter of just evaluating KPIs
- 57. RS Robin Speculand Every Strategic Objective has a Measure and every measure has an Action and every action must be Accountable
- 62. RS Robin Speculand Extract from the big data the small data, that can have a big impact.
- 64. RS Robin Speculand The real issue is not that you are acquiring large amounts of data. It's what you do with the data that counts.
- 66. RS Robin Speculand Cultureis the way things are done around here.
- 67. RS Robin Speculand Culture drives the way you implement.
- 71. New LanguageOld Language Customer service Customer empathy Measurement Process management Organizational transformation People Customer journey Design thinking Data RPA Business model disruption Robots!
- 74. RS Robin Speculand Which processes must you excel at to deliver the new strategy?
- 75. RS Robin Speculand License to Kill
- 76. RS Robin Speculand Supply ChainCustomer Service DesignSorting & Dispatching Supplier Relationship ?
- 78. RS Robin Speculand Innovate or Eliminate
- 80. RS Robin Speculand More Than Just a Pay Check
- 81. RS Robin Speculand People work for Passion If you could find a job that offered you consistent meaning, how much of your current salary would you be willing to forego to do it? People would be willing to forego 23% of their entire future lifetime earnings in order to have a job that was always meaningful. Harvard Business review Nov 2018 To put this figure in perspective, consider that Americans spend about 21% of their incomes on housing!
- 84. RS Robin Speculand Check-Ins: • Shift conversation from past to future • From employee management to encouraging higher performance • Increases engagement through the right feedback
- 85. RS Robin Speculand Implementation is only sustained when you reward and recognize individuals for taking the right actions. Myth or Fact?
- 86. RS Robin Speculand The reward system must change. Ignoring it is not an option.
- 88. RS Robin Speculand How often is execution typically reviewed? Question?
- 89. RS Robin Speculand How often should execution be reviewed? Question?
- 90. RS Robin Speculand The odds of successfully executing a strategy that isn’t reviewed frequently are slim to none.
- 93. RS Robin Speculand 1x1 = 1 2x2 = 4 3x3 = 9 4x4 = 20 What do you notice about these numbers?
- 94. RS Robin Speculand 1x1 = 1 2x2 = 4 3x3 = 9 4x4 = 20 75% Right 25% Wrong
- 95. RS Robin Speculand 1. Which direction is the hardest to implement? 3. Which direction is the least practiced among leaders? 2. Which direction receives the most resistance? Turn to a partner and share your thoughts on the Compass.
- 96. RS Robin Speculand Implementation Compass Summary People Purpose Biz Case Urgency Communicate What’s Happening Measure Performance Culture Alignment Process Synergize Reinforce Right Actions Review Discipline of Doing
- 97. RS Robin Speculand © Bridges Business Consultancy Int Pte Ltd 97
- 98. RS Robin Speculand One more very important message
- 100. RS Robin Speculand
- 101. RS Robin Speculand What action must your people take to execute the strategy?
- 102. RS Robin Speculand
- 103. RS Robin Speculand Half an hour after I finish you have forgotten half of what I said! Institute of America Research
- 104. RS Robin Speculand
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- 106. RS Robin Speculand