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Strategy Basics for Leaders
- 1. STRATEGY BASICS PRESENTED BY POP (JAN-2017) pop@leureka.com
- 2. AGENDA 1. What is Strategy anyway? 2. Bad Strategy 3. Strategy, Plan and Goal 4. The Methodology 5. Best Practices 6. Q&A
- 3. “CULTURE EATS STRATEGY FOR BREAKFAST” Peter Drucker
- 4. 1. WHAT IS STRATEGY ANYWAY? BATTLE OF TRAFALGAR ▸ In 1805, Napoléon had conquered big chunks of Europe and planned the invasion of England. ▸ Naval Battle between French-Spanish navies vs. British Royal Navy (lead by Admiral Nelson) ▸ French-Spanish Navies: 33 ships ▸ British Royal Navy: 27 ships ▸ A BIG PROBLEM FOR ENGLAND
- 5. 1. WHAT IS STRATEGY ANYWAY? BATTLE OF TRAFALGAR ▸ Diagnosis: ▸ Nelson’s challenge: outnumbered ▸ Nelson’s strength: much better skilled gunners ▸ Tactic changes: ▸ Broke B fleet into 2 columns ▸ Hitting their line perpendicularly. ▸ Put the risk on leading ships ▸ Result: ▸ F-P lost 2/3 of fleet (22 ships) ▸ B lost none ▸ Nelson’s death
- 6. 1. WHAT IS STRATEGY ANYWAY? THIS IS HOW A GOOD STRATEGY LOOKS LIKE ▸ Identifying the one or two critical issues in the situation—the pivot points that can multiply the effectiveness of effort—and then focuses and concentrates action and resources on them.
- 7. 1. WHAT IS STRATEGY ANYWAY? • A diagnosis – that defines the nature of the challenge • i.e., Framing • A guiding policy – for dealing with the challenge • Vision/mission and strategic priorities • A set of coherent actions – Designed to carry out the guiding policy • Tasks and actions A STRATEGY COMPRISES: Exercise: Analyze these with Battle of Trafalgar.
- 8. “IT IS HARD TO SHOW YOUR SKILL AS A SAILOR WHEN THERE IS NO WIND.” Richard P. Rumelt
- 9. 2. BAD STRATEGY BAD STRATEGY ‣ To detect a bad strategy, look for one or more of its 4 major hallmarks: 1. Fluff. 2. Failure to face the challenge. 3. Mistaking goals for strategy. 4. Bad strategic objectives. ‣ Bad strategy is long on goals and short on policy or action. ‣ Leaders may create bad strategy by mistakenly treating strategy work as an exercise in goal setting rather than problem solving. pop@leureka.com
- 10. 3. STRATEGY, PLAN AND GOAL • A Plan – Simple Steps – No Contingencies – “Do A, then B, then C” • A Strategy – A framing – A set of Goals – Enumeration of contingencies – A coherent set of actions Increasing uncertainty, contingencies, scope
- 11. 4. THE METHODOLOGY HOW TO MAKE A GOOD STRATEGY ‣ Start with Why (the challenges) ‣ Golden Circles: Why, What, How ‣ Avoid Bad strategies ‣ Too Ambitious or Too Ambiguous ‣ Goal Settings: a leader can set goals and delegate to others the job of figuring out what to do. ‣ Leadership mindset ‣ Leaders vs. Managers: Do The Right Thing vs. Do The Thing Right! pop@leureka.com
- 12. 4. THE METHODOLOGY HOW TO MAKE A GOOD STRATEGY pop@leureka.com MANAGER LEADER YOURSELF YOUR S-LEADERS HIMSELF HIS S-LEADERS GOALS WHAT IS/ARE CRITICAL PROBLEMS? WHAT IS/ARE CRITICAL PROBLEMS? 1. Challenges 2. Coherence through links
- 13. 4. THE METHODOLOGY HOW TO MAKE A GOOD STRATEGY pop@leureka.com LEADER YOURSELF YOUR S-LEADERS HIMSELF HIS S-LEADERS PROBLEM P1, P2, P3 GOALS A, B, C ACTIONS X, Y, Z GOAL A, C ACTIONS X1, Z11. Guiding policy: prioritization and filtering out unessential goals 2. Set of coherent actions: merged set of (X + X1+ X2) GOAL A ACTION X2 MEASURE M
- 14. 5. BEST PRACTICES THE MOST CRITICAL SUCCESS FACTORS ‣ Follow the Right Strategy (Challenges, Policy, Actions) ‣ Hold the events properly: ‣ Diagnosis: Situation Review —> Challenges ‣ Goals Gathering ‣ Goals Review and Actions Provided ‣ KPI/Measures Set and Consensus ‣ Weekly Progress Check-Ins with Closed-Loop Feedback ‣ Flexible when many more things come in unexpectedly (that can impact the execution plan) ‣ Lastly, encourage an innovative culture. pop@leureka.com
- 15. 5. BEST PRACTICES USEFUL TECHNIQUES/TOOLS ‣ Setting Tracking and Measurable Goals ‣ OKR, SMART ‣ Root Cause Analysis ‣ 5 Whys ‣ Setting Priorities ‣ Agile Theme Screening pop@leureka.com
- 17. pop@leureka.com