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Archive for August, 2006

Moving from Information to Insight

Friday, August 18th, 2006

Business leaders often believe their organizations are swamped with business process information, but that information is a relative trickle…compared with the wealth of physical-world, biological, public and personal-preference data that is being made accessible by powerful technologies.

The sheer quantity of all this information is unprecedented, but so is the complexity of working with it. Yet, despite its volume and disparate nature, this data is potentially useful to business because the computing power necessary to merge, manage and make sense of it also has been advancing and becoming more affordable…forward-looking companies are positioning themselves ahead of this information curve by moving quickly and down two parallel tracks: increasing the company’s ability to gather and access new forms of data while simultaneously building organizational capability to use that data for insight.

Modified thoughts from Glover Ferguson, Sanjay Mathur and Baiju Shah

Four Questions for Business Change

Friday, August 11th, 2006

There are four component questions to ask about your organization:

  1. How should your strategy transform?
  2. How should your operating activities transform, whether or not you have a shift in strategy?
  3. To accomplish a transformation, what shift in people and leadership is necessary?
  4. And what shift in organization processes must you facilitate?

These are the four components of how to make money: strategy, operating activities, people, and processes. When you confront reality, you may have to make changes in one of the four, two of the four, three of the four, or all four.

A leader has to determine when not to change, when to change, and to what extent to change. Then you determine which of the four internal organizational components have to be changed, and in what sequence, to meet those goals.

Modified thoughts from Ram Charan with Randall Rothenberg

Define Your Goals, Accomplish More

Wednesday, August 9th, 2006

“People with clear, written goals accomplish far more in a shorter period of time than people without them could ever imagine” – Brian Tracy, Motivational Coach and Author

In a world full of deadlines and time constraints setting aside time for goal setting can be a challenge. Remember that time spent carefully choosing your goals and success measures will save time in the long run by accelerating your overall strategy.

The 5 basic steps in goal setting are as follows:

  1. Identify your goals.
    Put your goals in writing. Choose goals which are meaningful, measurable, and those that you can impact.
  2. Identify specific achievements or steps and obstacles for each goal.
    Write down achievements, actions and obstacles associated with each goal along with a step-by-step action plan for accomplishing goals and overcoming obstacles.
  3. Make the goal measurable.
    Identify the key performance indicators you will use to track the progress of your goal.
  4. Assign responsibility for each goal.
    Assign each goal to a specific department or specific staff members who will then take ownership of the goal and be responsible for its success.
  5. Create a tracking system to monitor the success of each goal.
    Have a system in place for tracking each goal before you take action. Include measures, dates and the name of the person or group who is responsible for each goal.

I have heard a lot of excuses as to why people choose to not actively set goals and admittedly I’ve used a few of these myself! Gary Ryan Blair, better known as “The Goals Guy”, walks us through the myths and realities of goal setting http://www.goalsguy.com/Knowledge/t_05_myths.html.

Myth #1: Goal Setting is Not That Important.
Reality: Success Requires Goals – End of Story! A life of meaning needs goals and specific plans to achieve them. Success does not happen by accident.
Myth #2: Goal Setting is Difficult and Takes Too Much Time.
Reality: Performance is accelerated by time invested in strategy. The game of life is won behind the scenes, in time spent on preparation.
Myth #3: New Years is the Best Time To Set Goals.
Reality: There’s no better time than now to take control of your life. Goal-Setting is not about timing it’s about decision. This life is not a dress rehearsal; it’s the only one you’ve got.
Myth #4: Goals Don’t Need To Be Written – Keep Them In Your Head.
Reality: Written goals clarify thinking, objectify their potential, and reinforce commitment. The palest ink is better than the strongest memory. Goals once out of site, soon become goals out of mind!
Myth #5: Long-Term Planning Is A Waste of Time.
Reality: Your Future deserves consideration. It will someday be your present reality. It’s worth considering seriously.
Myth #6: A Good Plan Is All You Need To Be Successful.
Reality: Success is active, not passive. All plans require action. Preparation is no substitute for action. Commit to the philosophy of implement now – perfect later.
Myth #7: The Best Way To Achieve a Goal Is To Just Begin.
Reality: Action without planning is the root cause of most failure Success is a choice. With a plan to lead you, you can figure out how to get where you are going.
Myth #8: All It Takes is Hard Work To Achieve Your Goals.
Reality: Hard work is important, but working smart is mandatory. Quit trying harder, look for new solutions, and you will accomplish far more in far less time with only a fraction of the effort you have been giving.
Myth #9: I Can Do It On My Own. I Don’t Need Help.
Reality: Success requires cooperation. Nobody does it alone. In order to achieve more you must learn to help yourself. Success requires the cooperation of others.
Myth #10: Goals Only Need to Be Reviewed Once a Year.
Reality: Inspect what you expect. Everything changes. Your goals must keep shaping, shifting and flexing to fit these fast-changing times. Adopt a regular and consistent review process.

This is just the start to setting and achieving your goals. I would love for you to share your tips and stories about goal setting.

Strategies for Better Strategizing

Tuesday, August 8th, 2006

Over the course of the past two decades, it has become increasingly, abundantly clear that companies must find ways to be more innovative, more flexible and better prepared. Yet despite a steady supply of new jargon, models and techniques, the practices by which most companies create strategy have by and large not helped firms become more prepared for the unexpected. They remain mired in the mind-set of a very different and less complex competitive era.

Strategy has been reduced to calculation and analysis, nearly devoid of the imaginative spark that could bring it to life. For the development and communication of strategy to become the inspired and inspiring process it must be, it is up to company leaders to alter their strategizing practices in three crucial, perhaps counterintuitive, ways:

  • Be more subjective and less generic. If strategies are to be deeply insightful and keenly motivational, they must have an intuitive, subjective and imaginative component.
  • Explore new ways to stimulate insights and communication. Dump the tradition of presenting strategies in textual and visual formats such as slide presentations and reports. Get people engaged emothionally. When millions of neurons fire to help us describe, create and challenge what we are touching, we connect with the strategy.
  • Recognize that context matters. Leaders should encourage strategists to break the old conventions of the strategizing by enabling them to make new connections between themselves, the task and the team. Go off site, break the boundaries, do something different. Help people to access their imagination, insights, and knowledge.

It is up to dissatisfied leaders to question the conventional formula and reinvent the components of strategy creation by engaging more of what makes people human – our imagination.

Strategy Standouts: Girl Scouts

Tuesday, August 1st, 2006

I was browsing through strategy material and found that Girl Scouts have been hard at work planning for their future. What struck me the most was the boldness of posting their plan front and center for the world to see. It is clear they are excited and confident about the future of their organization. I was impressed with the organization and tactics Girl Scouts have applied to the structure of their strategic plan. They have developed six teams who are responsible for the different areas of planning called the Gap Teams who have developed a pathway to bridge the “gap” between where Girl Scouts is today and where they want to go in the future. The teams were arranged by function and each has a very diverse group of members working towards their goals.

Girl Scouts have also been busy promoting open discussions on strategy topics relevant to their organization. Topics for “Strategy Cafes” have been posted on the Girl Scouts websites for members to gather thoughts and ideas for future sessions. The first “Strategy Cafe” was a success where members shared ideas, creative thinking and fresh insight to be used in the planning process.

The Girl Scouts have posted more information about their Core Business Strategy than I can cover here, but you can view it on their website: http://www.girlscouts.org/strategy/ .

Competitive markets force many of us to keep our strategy under wraps. If that weren’t the case, would you be confident enough to post your strategic plan for the world to see?