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Posts Tagged ‘speed’

Execution Podcast: Are Fast Companies “Slowpokes”?

August 31st, 2010 by Steve Barry

“When I was faster, I was always behind.”

Neil Young has provided the soundtrack to many parts of my life.  His lyrics capture life’s truths and offer glimpses into its mysteries.  (Plus, he just rocks.)  This quote from his song “Slowpoke” could be a soundtrack for the faster companies in our Strategic Speed research.    Faster companies have learned that speed of strategy execution is not about a fast rollout.  Nor is it about streamlined processes.  Companies which rely solely on these approaches find themselves “always behind.”

Jocelyn Davis, Forum’s EVP of R&D and co-author of Strategic Speed: Mobilize People, Accelerate Execution, recently discussed these issues with Art Petty, noted leadership and management thinker.  Art’s blog is a tremendous resource for leaders, and  it is always a pleasure to share ideas with him.

Click here to listen to Jocelyn link Neil Young’s “Slowpoke” lyrics to the acceleration of strategy execution.   For more on how Forum can work with you and your team to accelerate execution, please click here.

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5 New Strategic Initiatives That Are Creating Business Impact Right Now

November 13th, 2009 by Forum Corporation

Reflecting on Strategic Initiatives

We asked our colleagues across Forum to share strategic initiatives that have a positive impact for clients.

We see a gradual shift away from short-term focus on results, and a renewed emphasis on the implementation of strategic initiatives to take organizations forward.  Here are some examples:

1. Re-engage employees through focus on growth
Clients are re-engaging their people and developing new products, services and markets. The enthusiasm generated by these ‘growth’ conversations positively impacts their organizational climate and injects renewed optimism for 2010 and beyond.

2. ”Back to Basics”
Several clients are using this time of economic turmoil to re-assess their strategic plan and focus on the individual gaps standing between them and their strategic goals.

For example, a regional energy company is ‘going back to the basics’   They have placed an emphasis on understanding the fundamental service skills and are focusing time and energy on the critical skills of customer service for front line representatives.    

Another example is a not-for-profit organization embarking on a 24-month plan to enhance leaders’ abilities to sustain success and to develop new opportunities for growth.

3. Retain Talent
I have noticed increased thinking about how to retain and motivate top talent. For example, a leading investment firm is assessing the climate of its sales force and preparing managers to create a high-performance environment.

4. Leverage Six Sigma
A global pharmaceutical company has started a thorough Six Sigma initiative.  However, rather than focus on systems, they are focusing on the numbers (increasing consistency and reducing variation).  Initially they are aligning their revenue-producing sales and marketing teams, attaining their buy-in using basic indicators such as call rates and customer segmentation data.  The business then plans to focus on high performance, enriching and improving every action based on global benchmarks.

5.  “One-firm firms”
Organizations seek to gain market share by pooling their combined capabilities to better serve clients in “one stop”.  Collaboration is the key to this initiative.  For example: 

• A large Middle-Eastern conglomerate with global operations is breaking down internal barriers to communication and collaboration in order to accelerate growth.  They see learning as the key lever in this effort, and they’ve created a common language and approach across the sales organization.

• One of our Asian clients implemented a successful, cross-functional collaboration initiative to deliver customer value. This initiative is championed by the General Manager, which has enabled it to gain traction.

What strategic initiatives would you add to this list?

Going Fast in Resource Constrained Companies

November 12th, 2009 by Steve Barry

For a recording of the North America and Europe Webinar, click here

I recently co-hosted, along with my colleague Henry Frechette, a Forum webinar for North America & Europe entitled “The 10 Ways Fast Companies Accelerate Strategy Execution.”    The topic of Acceleration seems to be a hot button topic – participants had more questions than we had time to answer.  We’ll use this blog to answer these questions over the next week.  The first question was:   Can you expand your message to include how to be successful in resource constrained firms?

Though Henry answered this question on the webinar, here is a bit more food for thought regarding resource constrained firms.  Consider the following equation from Bigler & Norris’ book, The New Science of Strategy Execution:

Cycle time = Actions in progress / processing speed

In the webinar, we talked a lot about the denominator (processing speed).  But simply reducing the numerator (the # of strategic initiatives you have in place) may actually be a good place to start for resource constrained firms.  Take a thoughtful approach to reviewing the strategic initiatives you have in place.  Does the estimated cash benefit outweigh the time and resources they are using?  Are they truly helping your firm improve or innovate?  Prioritize them.  Are there any “pet projects” that can be eliminated?   This should help to free up resources and enable you to be more strategic and successful.

For a recording of the North America and Europe Webinar, click here

Strategic Speed in 140 Characters or Less

October 27th, 2009 by Steve Barry

by Steve Barry 

As text-messaging and Twitter slowly take over my life (and my thumbs), I’ve begun to appreciate writers who express themselves with the power of brevity.  I recently saw an example of their writing in one of the core tenets of a church near my house:

 

 “In essentials unity, in non-essentials diversity, in all things charity.”   

 

I write about this not to advertise for any religious institution, but rather to express my pure admiration for the simplicity and elegance inherent in this statement of beliefs. 

And when the “H” in charity is swapped out for an “L”, we get:

 

In essentials unity, in non-essentials diversity, in all things clarity.”    

 

That phrase is the pure, boiled-down essence of strategic speed.  Of course, there’s a lot more to it than that, but what do you expect in less than 140 characters?  To hear more about how top performers in our research attained strategic speed, please attend our webinar (register here), The 10 Ways Fast Companies Accelerate Strategy Execution, October 28th at 11 A.M. EST or November 10th at 10 P.M. EST.

12 Signs of a Team That Delivers Quality With Speed

April 17th, 2009 by Forum Corporation

 

 By Tom Atkinson, Director, Customer Research 

What’s the best way to achieve high-quality results when you’re under pressure to deliver quickly?  A recent Forum initiative provides some clues.  Forum’s leadership team took an innovative approach to identifying new business opportunities in today’s demanding economic environment:  It created five cross-functional teams and assigned each team the task of building a business case for a potential new learning offering.   

Each team had five members (representing marketing, sales, consulting, project management, and R&D), as well as a sponsor from the executive leadership team.  Team members were distributed globally, and they had to accomplish their work without traveling.  The teams’ job was to research their topic, design their solution, create a plan, and prepare to present it to the leadership team in 3 weeks.

 

Forum’s research team has been studying speed, so this initiative was interesting to the team as a “natural experiment” in speed.  Since all five cross-functional teams had the same deadline, their overall “speediness” didn’t vary, but we expected that some teams would deliver higher-quality results than others in the designated time frame.  We focused especially on the cross-functional teams’ climate, because the link between climate and results is well established by the research of Forum and others (see, for example, Robert Stringer, Leadership and Organizational Climate, Prentice Hall, 2002).

 

After the cross-functional teams completed their work and made their presentations, we surveyed the members about their experience and, in particular, the factors that affected the quality of their work.  All of the teams’ members thought they had done a good job overall:  their ratings ranged from 4.0 to 4.8 on a 5-point scale.  In order to understand what distinguished the top-quality teams from the others, we created two groups of respondents:  team members who rated their team’s quality 5 (7 people) and those who rated it less than 5 (12 people).  We labeled these two groups “higher quality” and “lower quality.”

The higher- and lower-quality groups differed significantly (p<.05) on how they rated their team’s climate on these 12 dimensions (listed in descending order of strength): 

·         Courage and persistence demonstrated in addressing organizational challenges and roadblocks.

·         Team members connected to the work emotionally and intellectually (that is, they were engaged).

·         Specific team performance goals were clearly established.

·         Standards of excellence for individual performance were defined.

·         Team members were encouraged to challenge assumptions, confront brutal facts, and speak with frankness and honesty.

·         The initiative’s goals and the organization’s strategy were clearly linked.

·         Team members rewarded innovation and calculated risk-taking.

·         Team members were free to identify and correct their own errors in their own way.

·         Team members took ownership for their performance, individually and as a team.

·         Team members were encouraged to use their own judgment in solving problems.

·         A bias for action was prevalent.

·         There was a high degree of trust among team members.

 

 team-climate1

 

What actions can a team leader take to achieve the best results in the shortest time?  These findings suggest that the three most important things for leaders to pay attention to are:

 

1.      Communicating the team’s mission in such a way that everyone understands and buys into it, and knows how he or she contributes

2.      Creating a climate that fosters lively and frank debate, open-minded thinking, and experimentation

3.      Appealing to people’s hearts and minds, not just getting the work out

 

Interestingly enough, formal rewards, and even recognition and praise, didn’t make the top-12 list for achieving top quality.  Apparently, if team members are fully engaged and committed to working together, the work has enough intrinsic value; members don’t need special attention or financial bonuses to encourage them to do a superior job.

 

This is only one small experiment; we wonder how broadly the findings might apply.  What do you think drives speed and quality most in your company?