ldrshp strgy for steering thru turbulent times

7/27/2019 Ldrshp Strgy for Steering Thru Turbulent Times

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Effective Leadership & Strategy forSteering Through Turbulent Times

DestinHaus LLC

Strategies for Success in a Multicultural World

Nissan Seminar

Yokohama, Japan

October 2009


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Current State of the GlobalEconomy
http://farm4.static.flickr.com/3034/2648691861_c5a25babfa.jpg?v=0


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The Global Economic Crisis

In the Autumn of 2008

Credit markets stopped functioning normally

Governments began nationalizing financial systems

Governments began considering bailout of other troubledindustries

Major US banks disappeared or became bank holding

companies Currency values, oil and other commodity prices lurched wildly

Housing prices in Spain, UK, US and elsewhere dropped steeply

Lack of consumer confidence

High unemploymentGlobal economic contraction


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Some of the Indicators (Chronological)

US Manufacturing output is expected to decline 12% this year

Wall St. Jl., May 28, 2009

Corporate bankruptcies set to surge by 35% in 2009

Rate of corporate collapses will reach historic heights in 2009 following

a 27% increase last year

Financial Times, June 4, 2009


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The Recession Some US StatisticsWall St.Jl. July, 2009

7.2 million people have lost their jobs since the beginning of the recession.

Unemployment rate is at 9.5%

Job losses over the last six months greater than for any other half yearperiod since World War II

Downturn began in December 2007

Decline in GDP is deepest since 1957-58 recession.

Americans have not seen so much of their wealth evaporate sine the GreatDepression

Home prices have fallen by $5.1 trillion, a 41% drop

People have lost trillions of dollars in the stock market As households struggle to cope with their wealth reduction, they spend less

Through first quarter, GDP was down 3.1% from peak it reached last year


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LA Times, Sept 11, 2009

US poverty rate reaches 11-yearhigh

46 million people withouthealth insurance

Unemployment at 8.9%

Poverty rate at 13.2%

Median household income fell3.2% to $50,300


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Now Some good News !!!
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The Turnaround

Several indicators point towards a recovery

?
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Business Week, Sept 28, 2009

Commerce Dept. said on Sept 15 that retail sales excludingautomobiles increased by a better-than-expected 1.1% from July

The cash-for-clunkers program helped inflate sales by 10.6% from

the previous month Producer prices jumped 1.7% in August (but still 4.3% below their

year-earlier level

Consumer price index rose by 0.4%

Year-over-year decline in CPI eased to -1.4% VS -1.9% in July

Fed Chief Ben Bernake called the recession very likely over


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So, what was the fundamental

cause for this mess?

Lack of Vision Lack of Strategy

Lack of Ethics

Lack of proper Leadership


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What can leaders do to steer their businesses

through such turbulent times?

What can each one of us do?

Each one of us has a

responsibil ity within our

own sphere of influence
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Effective Leadership & Strategy for

Steering Through Turbulent Times

Creating the right Culture Communication

Innovation

Risk-taking

Conflict Resolution

Leading & Managing Change


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Creating the right Culture Communication

Innovation

Risk-taking

Conflict Resolution



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Business Culture

A corporate culture is the sum of the unwritten norms, beliefs andvalues that define appropriate behavior

Like human personalities, corporate cultures result from the

interaction of temperament and experience Over time, their dictates slip from the consciousness into the

realm of habit:

Changing the culture is the most nebulous area of corporate

management, by far the most challenging It is about changing the often unspoken values and beliefs that

guide any organizations conduct

Executive power cannot accomplish much here

Subordinates voluntary cooperation becomes essential

The difficulty of the task is such that even revolutionary leadersusually place cultural change last on their agendas

However, no transformation is complete without itControl your destiny or someone else willNoel Tichy & Stratford Sherman


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Creating the right business cultureCould transform a company

Make the difference between success & failure

Create significant increase in stakeholder value

Culture as it should beThe way in which a group of people solves problems and

reconciles dilemmas


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The Wall Street Jl. October 13, 2008

Ford Finance Chiefs departure said to reveal tensions in automakers management

Financial crisis, shrinking prospects push Detroits big three toexplore once-unthinkable options

GM to close plants, restrict lending

Honda to trim sport-utility output, add sedans Ford executive rejects talk of Mazda stake sale

Nissan will cut jobs at Spain plant

Toyota keeps idled workers busy, honing their skills

A Study in Corporate Culture!!!


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Culture Spurs Innovation

(Source: Textron survey of 150 senior executives) What is the most important driver of innovation for

companies?

Supportive Corporative Culture (53%)

Top Management Support (21%)

Clear Processes and Measurable Goals (13%)

Creative Talent (5%)


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Inspiring them to soar, The Wall St. Jl., Oct 1, 2007

Engage the workers hearts and minds

Direct correlation between employee engagement and theproductivity, profit and revenue growth

Employees who contribute the most to corporate performance alsotend to

Trust management

Be stimulated by their jobs Believe their work affects corporate performance

See opportunities for career growth

Take pride in the company

Have co-workers who feel the same way

Believe the company wants to help build their skills

Like their bosses

(Conference Board Study)


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How to stay ahead of the curve

Build and protect the culture

Stay focused on culture, people, and values; it is the area mostlikely to get compromised in this environment

Eric Foss, Chairman & CEO of Pepsi Bottling Group

If you dont invest in the future and dont plan for the future,there wont be one

George Buckley, CEO of 3M

Companies that nurture flexibility, awareness and resiliency are

more likely to survive the crisis, and even to prosperLeading through uncertainty Lowell Bryan & Diana Farrell,McKinsey & Co.


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Food for Thought

Think about

The culture that exists in your business

What have you done to create / change that culture?

Ask yourselves the following questions


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Strategic Assessment of Your Business

Which issue is absorbing more of senior managements attention?

Reengineering Core Processes Reengineering Core Strategies

Within the industry, do competitors view our company as more of a rule-taker than a rule-maker?

Rule-taker Rule-maker

What are we better at, improving operational efficiency or creating fundamentally newbusinesses?

Operational Efficiency Fundamentally New Businesses

What percentage of our advantage-build ing efforts focus on catching up with competitors versusbuilding advantages new to the industry?

Catching-up New

To what extent has our t ransformation agenda been set by competitors actions versus being setby our own unique vision of the future?

Driven by Competitors Driven by Our Vision

As a senior manager, am I working mostly on the present or am I an architect designing the

future?Present Future


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Leade

rshipSe

lf-Asses

sment


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Creating the right Culture

Communication

Innovation

Risk-taking

Conflict Resolution



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Communicate

Clear communication

Builds alignment

Builds confidence

Lets people know that they matter

Builds trust in leadership

Motivates the troops

Even the best organizational ideas are worth nothing if they are not

communicated and supported clearly, with a thoroughly concrete

explanation of why and how -- Carlos Ghosn

Tell me & I will forgetRemind me & I might rememberConvince me & I will understand


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To lead, create a shared visionKouzes & Posner, Harvard Business Review, Jan 2009

Being forward looking, envisioning exciting possibilitiesand enlisting others in a shared view of the future

This is the attribute that most distinguishes leaders fromnonleaders

What leaders struggle with the most is communicatingan image of the future that draws others in that speaksto what others see and feel

Leaders need to listen closely to others

Appreciate their hopes

Attend to their needs


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Engaging Others

Engagement is not just about

conversation

Small voices can silence a room if used atthe right time


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Motivating People The Power of Alignment

The work has to be understood as important

It has to lead to a well-understood, shared goal

Values have to guide all plans and actions

Team members control achieving their goal

Respect your people; listen to them

A little encouragement goes a long way

Gung Ho! Turn on the people in any organizationKen Blanchard & Sheldon Bowles

The Spirit of the Squirrel

The Way of the Beaver

The Gift of the Goose

e = mc2

Enthusiasm = mission times cash and congratulations
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Communication

Innovation

Risk-taking

Conflict Resolution



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Culture Spurs Innovation

(Source: Textron survey of 150 senior executives) What is the most important driver of innovation for

companies?

Supportive Corporative Culture (53%)

Top Management Support (21%)

Clear Processes and Measurable Goals (13%)

Creative Talent (5%)


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Innovation

McKinsey Study

Innovation: Whats your score? Berwig, Marston, Pukkinen, Stein

Business model innovation tends to generate biggergains than product or process innovation

Harder for competitors to copy

Strong innovators do consistently well as regards stock-

market performance Top innovators continued to outperform their peers even

during the tough times

Agility & capacity to innovate made it easier to copewith challenges

Many important products have been introduced

during times of crisis


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Innovation and Recessions

Digital computers were born during the Great Depression

The Ethernet during the 1970s oil crisis

The IBM personal computer in the early 1980s recession The World Wide Web emerged from the recession of the early

1990s

During the last recession (in the early 2000s), innovative companiesbegan staking out new leadership positions via the Internet

Apple changed the business model in the music industry when itlaunched its popular iPod music player synched to its popular

iTunes music store Google became an online industry leader by linking its search

engine to advertising


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Innovation

To become a world-class center of innovation, asociety/organization / business must have three

basic elementsDrive A culture that supports change andhungers for it

Human Capital The personal abilities thatmake world-class innovation possible

A capacity for mobilization a societys abilityto pursue ambitious new goals

DestinHaus Workshop: Creating an Innovation Culture


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Thinking Out-Of-The-Box

Coca Cola

Tata Nano

The Computer

Apple


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Problem or Opportunity?


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Problem or Opportunity?

Infrastructure!!!


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Growth Values at GE

Need to embed growth into the DNA of a company

Leadership traits necessary for innovating, creating new businessesand expanding into new markets

External focus Clear thinking

Communicates clearly and concisely

Imagination Takes risks; displays courage and tenacity

Inclusiveness

Expertise Has domain knowledge; continuously develops self; loves

learning


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Communication

Innovation

Risk-taking

Conflict Resolution



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Critical Success Factors

Constantly step back and think about organizational effectiveness

View this as your company. Every action should be justified by asking

yourself Would I do this if I owned the company

Encourage risk taking

It is okay to make mistakes

The most important things are

What did you learn from the experience?

What do you do to prevent such a mistake from happening again?

Learn from the past but do not focus too much on the past

Use the past to make the future a brighter one

People who focus too much on the past will get confined to thehistory heap

People who ignore the past will tend to repeat mistakesCowboy proverb: Good judgment comes from experience;and a lot of that comes from bad judgment


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Communication

Innovation

Risk-taking

Conflict Resolution



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Conflict Resolution: What is It?

Methods for reducing or eliminating

conflicts Conflicts between nations, within

governments, between companies andgovernments, between and withincompanies, between individuals

Usually involves tools such as negotiation,mediation, and diplomacy

Always involves communication


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The United Nations


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The Six Party Talks
http://upload.wikimedia.org/wikipedia/commons/f/f9/Table_layout_of_Six-Party_Talks.svg


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EU-3 Talks with Iran (FRG, UK,

France)


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World Trade Organization
http://www.wto.org/english/thewto_e/thewto_e.htm


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Japanese Supreme Court


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External Corporate Disputes

International Trade

Intellectual Property Labor Cases

Tax Cases General Commercial (joint ventures, M&A)

Product Liability Anti-trust cases (anti-competitive issues)


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Internal Corporate Issues

Personnel Management

Productivity Sales

Subcontractors Delivery

Customer Service Overseas affiliate issues


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Different Cultural Approaches

Individualistic Culture

More contentious, shorterterm approach;

Want answers now and

clearly outlined; Less likely to negotiate,

and if they do, prefer to doso on their own terms;

Can walk out of talks,especially if must answerto constituents

Collectivistic Culture

More consensual, longerterm approach;

Want to develop a long-

term positive relationship; More likely to negotiate,

and when they do, morelikely to cooperate;

More likely to concede orengage in problem solving

A Spectrum of Cultural Values


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A Spectrum of Cultural Values

That May Affect Negotiation Informality: Informality is the norm,

almost everyone uses first names.

Mobility: One often leaves family andfriends for a new job and so must

make home, new friends quickly.

Direct communication: each personis expected to have an opinion andexpress it freely. Saying what is onyour mind is important and expected.

Competition: Competition, ambitionencourage superior performance.

Future Orientation: Emphasis is lesson the past and more on the presentand future. Focus is on youth.

Reputation: People are measured by

what they do.

Formality: Permission is needed to usefirst names; some never use them.

Stability: A great number of the worlds

people have never left home. Friendsare those they have known all theirlives.

Indirect communication: Deference isgiven to those in power or authority;directness and open criticism areconsidered rude.

Harmony: Harmony is valued andpersonal ambition frowned upon.

Reverence for past: Reverence for thepast and ancestors drives behavior.Age is respected.

Reputation : People are measured byfamily and origin.

C lt l V l Aff ti


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Cultural Values Affecting

Negotiation in Business Individual vs. the group values: Do we value individual

vs. teamwork accomplishments, who gets the credit, the

reward?

Power distance: Manifested in a hierarchy or equality ofrole of the individual (formal vs. informal values)

High vs. low context: Are we making direct statementsor hints direct statements, using code words or thenaked truth? (direct vs. indirect styles of speech)

Monochromic vs. Polychromic Thinking: Do we doone thing at a time or multi-task?

Tolerance for Ambiguity: Must we know the end goal

before we start, or is it alright not to know?

Principled Negotiation


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Principled Negotiation

Technique Separate the people from the problem

Negotiate from interests, not positions Work together to develop new options

Make decisions using objective criteriayou have all agreed upon

(From Roger Fisher and Bill Ury, Getting to Yes, Harvard NegotiationProject)


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A Strategy for Solving Conflicts

Build Relationships, answers Who am I dealing with?

Be Non-Reactive, answers, What does each of usreally want?

Do Something Disarming, and unexpected, answersWhat are our real interests

Problem Solve by Participation, answers: What arewe willing to do?

DestinHaus Stepping Stones to


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DestinHaus Stepping Stones to

Conflict Resolution Building KnowledgeAssessing managements needs

and their problems they want resolved; in the process

we may find other ways to improve your business

Building SkillsTraining managers to cope withtensions and conflict through active listening, problem

solving, developing options, writing agreements, andaction

Building Positive AttitudesUsing non judgmental

approaches for those involved in personal or businessconflicts

Building ConfidenceIn your own capabilities, and in

the potential of your employees to manage conflict

Ron Bees Conflict Resolution


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Ron Bee s Conflict Resolution

Motto

There is no limit to what you canaccomplish if you are willing not to takecredit for it.


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Communication

Innovation

Risk-taking

Conflict Resolution



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Stages in the Evolution of a Business


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S Curves

Organisations and teams gothrough natural cycles ofgrowth from upscale tomaturity

Different qualities andcapabilities are effectiveat different stages ofteam and organisationalgrowth

winter spring summer autumn

winter spring summer autumn

The result of letting things

go

The result of timelytransformation

The Automotive Industry


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The Automotive Industry

1955:

Four out of every five cars in the world were made in the US, halfof them by GM

Ford was half the size of GM VW was the largest non-US car maker; just a little bigger than

Opel, GMs German subsidiary Toyota made 23,000 cars, all in Japan (GM made 4 million cars

in the US)

Complacency

Toyota


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Toyota

Expects to sell 10.4 million cars in 2009, double what it sold in 2000

During this decade

GMs sales volume has grown at 1.5%/year

Toyotas sales have grown at 7%/year The American obsession with sales volume

Market Cap, $ bil (2006 Data, Approximate)

Which is Toyotas biggest market: US or Japan?

Honda 60Daimler Chrysler 58Nissan 52Volkswagen 29Volvo 19Ford 14Fiat 13GM 12Tata Motors 8Toyota 207


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Automotive Industry

The Next Frontier???

Tata

Geely Holding Group Co.

Beijing Automotive Holding Company

New World Order in Automobiles


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DestinHaus Workshop

Jump the S-Curve before getting pushed

- How businesses can control their destiny byreinventing themselves

P tti it ll t th t t b i


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Putting it all together to steer a business

History shows there are great opportunities during recessions More companies achieve dramatic gains during recessions than during

expansions

Take your business from your current position in the downturn to astronger leadership position when the economy recovers by Cutting the right costs in the right way while sustaining margins and

brand

Targeting the right customers, maximizing revenue while building yourbrand

Preparing for bold moves, such as game-changing acquisitions

Differentiating your f irm as one of this recessions breakawayoutperformers

As a leader you need to: Manage current resources while identifying new opportunities

Lead change amid new challenges

Difference between merely surviving the downturn and emergingfrom it stronger

H t t h d f th


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How to stay ahead of the curve

Forecasting Tell it like it is; Do not sugar-coat it

Understand and adapt to drastic shifts in market and consumerbehavior

Consumers are likely to display substantially altered preferences andtendencies as a result of their experiences in a recession

Do not be afraid to take action and change things, even if abusiness is doing well

Do not be afraid to take risks but manage risks carefully

Need courage to make hard decisions quickly

Need appropriate mechanisms and governance models to confrontmultiple scenarios

Be receptive to different points of view

Do not create a blame culture

Communicate, Communicate, Communicate The only way to address uncertainty is to communicate and

communicate; and when you think you have just about got toeverybody, then communicate some more Terry Lundgren, CEO ofMacys

Preparing for the Recovery


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Preparing for the RecoveryFinancial Times, Sept 22, 2009

Prepare for a recovery, but do not assume it is here yet. Thingscould still get worse; so plan for that too

Maintain a close control on costs at the same time as preparing for

return of growth Take a look outside your company and see what has changed

in your industry and the world generally

Has the behavior of your customers changed? Do you need to

change your strategy? Do not rely on old assumptions

Value your workers

Reward those who helped keep the group going and get ready to fightto hold on to your best employees

Continue to keep a close eye on finances

Begin to loosen some of the restraints put in place during the crisis

Give more freedom to employees

Avoid complacency

Communicate with employees honestly


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In Summary

Learning Company


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Learning Company

Do not be afraid to dream the dream

Be willing to learn from others

Including subordinates, suppliers, customers, etc Innovative, open to new ideas

Willing to learn from the past but not stuck in the past

Tolerant of different cultures

We are viewed as best-in-class; Outsiders want to learn from us

Blazing the Trail, Setting the Standard

A learning organization involves not only the development of new

capacities, but also fundamental shifts of mind, individually andcollectively

Peter Senge, Fifth Discipline

ldrshp strgy for steering thru turbulent times

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