2. Topics What do we mean by “initiatives” How do we find them Why is it difficult to get them going How to get started Real world example About Mass Ingenuity, the Now System of Management and Managing in the Now
3. What Are Initiatives Drivers of growth Ultimately revenue, PTOI, ROE, capital etc Usually new ideas Can include major improvements to the core business Absolutely not BAU!
4. How Do We Find Initiatives Look for them! Listen to the entire enterprise Accept higher risk levels Treat them like portfolio investments Keep them away from the “sausage grinder”
5. What Makes New Initiatives So Difficult Core business sucks up all the resources Commitment lacking Risk profile flat lined Patience is low Champion is weak A system for managing is missing
6. How to Get Things Going Create enterprise wide business development Act like an entrepreneur and evangelist Use social media techniques to engage workforce Form a “special” team Launch a major new program fast and stealth Remove every barrier, Dilbert and obstacle with surgical precision
8. About Mass Ingenuity Businesses that have a well-developed management system that effectively focuses the organization (on what matters) all the way down to each employees, in which each individual knows what they are accountable for and has both the skills and freedom to act without permission, can dramatically increase the speed at which they solve their problems and pursue opportunities through the application of social media.
10. ENGAGE TO WIN username password My Page My Company The System About Us Blog Setup FUNDAMENTALS BREAKTHROUGHS Find Us Anywhere! MANAGEMENT SYSTEM MAP STRATEGY MAPPER S1: Fundamentals Routine S2: National Brand Established S3: Goliath Product Accepted by Market T1: Service Capable to Handle Calls T2: Closing Ratio Best in Class T3: Channel Partners Scorecard Creates Accountability T4: Time-to-Close Books World Class T5: Customers Actively Refer to Us 3 0 0 2 5 1 0 0 0 MILESTONES PAST DUE MY BREAKTHROUGHS MY MEASURES (click on color for chart) Revenue PLAN Total Return to Shareholders EBITDA Cash Turns Ideas Implemented Per Employee Customer Retention % Customers Referring Revenue from New Products PLAN Volunteer Hours $ Contributed to Non-Profits Employee Turnover Employee Engagement PLAN A PLAN indicates Corrective Action in Process MY APPROACHING MILESTONES DUE DATE S3: 1.3.5 Approve revised budget S1: 1.5.2 Set date for Q3 QTR T3: 3.3.2 Prep Key Note Speech S3: 2.8.9 Phase gate review IV T4: 5.5.2 Meet with audit partner S4: 1.5.6 Send Prep Sheet for QTR Apr-10 Apr-15 Apr-19 Apr-24 Apr-24 Mar-1 MEASURES I WATCH (click on color for chart) Project Delivery to Original Target PLAN % Customer Calls Escalated to Engineering # Prospects in the Funnel % Out-of-Box Failure Rate