strategy execution: the missing link
TRANSCRIPT
![Page 1: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/1.jpg)
Strategy Execution
The Missing Link
![Page 2: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/2.jpg)
Strategy is a commodity. Execution is an art.
‐ Peter Drucker
![Page 3: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/3.jpg)
"Without strategy, execution is aimless. Without execution, strategy is useless." – Morris Chang, CEO of TSMC
![Page 4: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/4.jpg)
What are some of the biggest challenges you have faced in executing your strategy?
![Page 5: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/5.jpg)
Tips, tools and tactics for
improving your execution
![Page 6: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/6.jpg)
“At it’s essence, execution consists of a set of behaviors performed consistently over time.”
![Page 7: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/7.jpg)
Six sources of influence that powerfully shape human behavior
![Page 8: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/8.jpg)
Engage four or more sources and your odds of success increase 10X!
![Page 9: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/9.jpg)
How do you move a boulder?
![Page 10: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/10.jpg)
“If you want to move that boulder, you’re going to need a longer lever.”
![Page 11: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/11.jpg)
Structure
![Page 12: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/12.jpg)
A Picture is Worth a Thousand Words . . .
![Page 13: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/13.jpg)
IN CASE YOU WERE WONDERING, THIS IS NOT A PICTURE . . .
![Page 14: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/14.jpg)
Drive new total contract value (TCV) of _____ from ____ new clients and deliver EBITDA of ____ of revenue while scaling
the business for sustainable growth and expansion
Sample One Page Strategic Planning Document
Become the global leader in ________ that continuously optimizes the best for our people, our planet and our profit
Strategic Intent 20XX Strategic Objective
5 Key Strategies
Aligned Strategic Initiatives
Capitalize on a High Performance Team and
Culture to drive innovation and exceed strategic
imperatives
Optimize our customer-centric Product Discipline to drive market leadership, customer satisfaction, and
profitability
Leverage our Unique _______ Value
Proposition to deliver our brand promise of ______
Maximize Strategic ClientAcquisition opportunities
within targeted verticals and regions to drive accelerated
growth
• Executive Team• Performance Management• Learning Organization
• Build vs. Buy• Industry-Specific• Product Strategy• Product Roadmap
• Thought Leadership• Rebates and Incentives• Market Research
• Manufacturing• Logistics• Deployment / Consulting• Account Management
• TCV achievement• Direct Sales• Channels / VARs
High Performance Team and Culture
Product Management Discipline
Unique Value Proposition
Scalable Operational Processes
Strategic Client Acquisition
Exploit Scalable Operational Processes to
increase margins and ensure effectiveness and
efficiency
![Page 15: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/15.jpg)
Regular Meeting Cadence
![Page 16: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/16.jpg)
“Never begin a meeting without an agenda.”
![Page 17: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/17.jpg)
“Never conclude a meeting without asking, who, does what, by when, and how we will follow up.”
![Page 18: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/18.jpg)
Scale the structure based on the size of your organization.
![Page 19: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/19.jpg)
OKRs (Objectives & Key Results) – born
at Intel, made famous by Google
![Page 20: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/20.jpg)
Establish a Regular Goal
Setting Rhythm
![Page 21: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/21.jpg)
Annual, Quarterly, Monthly?
![Page 22: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/22.jpg)
“3.5X More Likely to be in
the Top Quartile of
their Industry.”
![Page 23: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/23.jpg)
What factors should you consider in setting your cadence?
![Page 24: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/24.jpg)
Look beyond the executive management level
![Page 25: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/25.jpg)
Bottoms Up & Cross Functional Approach to Goals
![Page 26: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/26.jpg)
How do we create clear linkages between my job and the company goals?
![Page 27: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/27.jpg)
Software Tools Can Help
![Page 28: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/28.jpg)
“The broader the base of participation in its creation, the more likely you'll see follow through in its execution.”
![Page 29: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/29.jpg)
“If they don't weigh in, then they won't buy in.”
– Pat Lencioni
![Page 30: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/30.jpg)
Meet Dana Born
![Page 31: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/31.jpg)
Context is Key
![Page 32: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/32.jpg)
![Page 33: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/33.jpg)
Why is this product redesign such a big deal?
![Page 34: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/34.jpg)
Why is attracting and retaining top talent such a big deal?
![Page 35: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/35.jpg)
Relentlessly ask this question: “What is our most important priority?”
![Page 36: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/36.jpg)
1. START WITH THE BASICS
– How Long In Role– Successes – Challenges– Next Positions and When– Strategic Needs/Wants
– What Messages/Coaching Should They be Getting?
![Page 37: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/37.jpg)
CHARACTERISTICS Of SUCCESSFUL PROGRAMS
• Simple• Focused on performance and potential• Involves all leaders in the organization• Includes employee input• Driven by the top leadership• Owned by the line• Supported by the HR group
![Page 38: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/38.jpg)
2. PERFORMANCE AND POTENTIAL
• The measure of a true leader is certainly not their list of achievements; their true leadership legacy will be in their ability to grow, develop, & nurture future leaders that would follow them in times of crisis and behave in a way that is similar to the leader that taught them.
• You impact and change many people’s lives• Believe it or not, they want to be you
![Page 39: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/39.jpg)
PERFORMANCE
• Degree to which an individual meets pre-set work expectations
1 = Below expectations
2 = Meets expectations
3 = Exceeds expectations
![Page 40: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/40.jpg)
POTENTIAL
• Ability to change, adapt and learn based on experiences
1 = Is not open to feedback; does not learn from past experiences; is not focused on own development; reacts in similar fashion in all situations.
2 = Is open to feedback; can learn from past experiences; focuses on development of self, but tends to be more reactive than proactive; shows some ability to adapt to the situation or moment.
![Page 41: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/41.jpg)
POTENTIAL
• Ability to change, adapt and learn based on experiences
3 = Seeks out constructive feedback and adjusts behavior based on this feedback; can learn in the moment as well as from past experience; anticipates future changes and is proactive in dealing with them; focuses on self-development and fosters growth in others.
![Page 42: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/42.jpg)
TECH EXPERT KEY PERFORMER SUPERSTARS
DANGER ZONE SOLID CONTRIBUTOR
MOVERS & SHAKERS
MOMENT OF TRUTH
UNDER PERFORMER
MISMATCH DEVELOPING
![Page 43: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/43.jpg)
3. INTERNAL COACHING & MENTORING
• Goal Setting - agenda/monthly/yearly
• Listening • Communication (give/receive Feedback)
• Tracking Progress • Follow Through
Role-Model – Do not put too much pressure on self
Cannot be all things to all people at all times
![Page 44: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/44.jpg)
COACHING DO’S and DON’TS
Do:
• Clear Goals• Provide Feedback not Feed‐Around• Enthusiasm and Optimism• Clear Performance Expectations• Provide Recognition (by knowing them)• Solicit Feedback from Protégé
![Page 45: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/45.jpg)
COACHING DO’S and DON’TS
Don't:
• Label People – A’s and B’s• Punish for Mistakes• Miss Opportunity to Learn• Dwell on Past Failure • Not Coach Owners/Top‐level Executives• Allow Disinterested to Skip Coaching
![Page 46: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/46.jpg)
4. STRUCTURED DEVELOPMENTAL COACHING
• Content – What will meeting look/feel like• Structure – What is agenda• Frequency – What can you commit to• Location ‐ Neutral• Timing – Squeaky Wheel does NOT get the grease
• 3 positives for every negative
![Page 47: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/47.jpg)
DEVELOPMENTAL SUCCESSION PLANS
• SMART GOALS• MEASURES• ACTIONS – Small leads to success• SUPPORT PEOPLE• HOW CAN ORGANIZATION SUPPORT YOU
![Page 48: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/48.jpg)
![Page 49: Strategy Execution: The Missing Link](https://reader031.vdocuments.mx/reader031/viewer/2022022412/58f9c0b8760da32f4b8b5575/html5/thumbnails/49.jpg)
Let’s Connect
Dan Griffiths is the Director of Advisory Services at Tanner, a CPA firm based in Salt Lake City. He provides strategic and business planning, business coaching, and leadership development. Contact Dan at: [email protected] connect with him on LinkedIn: www.linkedin.com/in/dangriffithscpa