10 Flashcards
What is strategy execution?
Strategy execution is a disciplined process or a logical set of connected activities that enables
an organization to take a strategy and make it work.
What are Kooter’s 4 core change principles?
- Management + leadership
- Heads + hearts
- have to + want to
- select few + diverse many
What is management + leadership?
Management:
- stability and predictability.
- planning and budgeting
- organising and staffing
controlling and problem solving
Leadership:
- speed and innovation
- establishing directions
- aligning people
- motivating and inspiring others
What is heads + hearts?
Heads:
- speaking to the “heads”
- providing rational reasons i.e. the “what” and “how”.
Hearts:
- speaking to the “hearts”
- dressing emotions i.e. answer the “why”
What is have to + want to?
Have to:
- mandatory change
- approach does not lead to sustainable change
Want to:
- Voluntary change
- people that feel involved in the change process will strive for improvements
- what promotes “want to” is different for different people
What is select few + diverse many?
Select few:
- few change agents to steer the change efforts
Diverse many:
- true change only happens when change efforts are supported by a change network.
What are Kooter’s 8 steps for leading change?
Create a sense of urgency, build a guiding coalition, form a strategic vision, enlist a volunteer army, enable action by removing barriers, generate short-term wins, sustain acceleration, institute change.
What is create a sense of urgency?
Communicate why the change is needed in a way that inspires people to act.
What is build a guiding coalition?
Create a strong coalition of committed people to guide the change process.
What is from a strategic vision?
Create a clear description of the future and clarify how this will become reality.
What is enlist a volunteer army?
Ensure that those who are affected by the change want to actively contribute.
What is enable action by removing barriers?
Remove obstacle that slow things down or create roadblocks to progress.
What is generate short-term wins?
Specific small and large wins must be recognized, collected, and communicated.
What is sustain acceleration?
Use the momentum of success to continue to win people over to the change process.
What is institute change?
Make sure that new behaviors continue until they replace old habits.
What are the keys to successful strategy execution?
- Effective leadership and decision rights.
- Clear communication and information flows.
- Sufficient and efficient resource allocation.
- Leveraging best-practice execution instruments.
- Continuous adaption and organizational agility.
- Continuous monitoring of strategy execution success.
- Instilling corporate culture that promotes strategy execution.
What is effective leadership and decision rights?
Exercising strong leadership to drive execution forward.
Clear assignments of responsibilities.
Everyone has a good idea of the decisions and actions for which he or she is responsible.
Empowerment of subordinates.
The primary role of corporate staff is to support the business units rather than to audit them.
Regarding effective leadership and decision rights, what are the operating decisions that managers up the line get involved?
- Commitment of top management
- Involvement of middle managers
Regarding effective leadership in strategy execution, what are the 4 levers of influence?
Role modelling, fostering understanding and conviction, developing talent and skills, reinforcing with formal mechanisms.
What is the RAPID framework?
Recommend, agree, perform, input.
Recommend a decision or action.
Formally agree a decision.
Be accountable for performing a decision once made.
Provide input to a recommendation.
What are the decision role pitfalls?
- Ensure that only one person “has the D”. If two or more people think they’re in charge of a particular decision, a tug-of war results.
- Watch for a proliferation of “A’s”. Too many people with veto power can paralyze recommenders. If many people must agree, you probably haven’t pushed decisions down far enough in your organization.
- Avoid assigning too many “I’s”. When many people give input, at least some of them aren’t making meaningful contributions.
What are the drawbacks of top-down execution?
- Risk of unraveling after a strong CEO departs – delegation and empowerment are key.
- Leaders who are closest to the situation can respond most quickly and are best positioned to make tough calls.
- Frequent and direct intervention from top executive encouraged middle managers to escalate conflicts rather than resolve them.
- If top executives insist on making the important calls themselves, they diminish middle managers’ decision-making skills, initiative, and ownership.
- But although execution should be driven from the middle, it needs to be guided from the top.
What is communication?
Communication is what execution is all about.
Communication of a “need for change” to create a sense of urgency.
How can we implement information flows?
Installation of information systems that enable employees to carry out their strategic roles proficiently.
Quick information flow to headquarter.
Free information flow across organizational boundaries.
Field and line employees have the information they need to understand the bottom-line impact of their day-to-day choices.
