operationalizing your strategic plan
DESCRIPTION
TRANSCRIPT
OPERATIONALIZING YOUR STRATEGIC PLAN
1 h$p://strategy-‐consul5ng.ca/ Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Operationalizing Your Strategic Plan Approach
2
Engagement Within Your Organiza5on
Inability to Transi5on Your Strategy to Ac5on 2
Failure to Conduct Regular Reviews 3
Employee Ac5on Not Aligned to Your Strategy 4
1 Solu5on #1
Solu5on #2
Solu5on #3
Solu5on #4
h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Critical Issue #1: Engagement Within the Organization
“Actively disengaged employees -- the least productive -- cost the American economy an estimated $350 billion per year in lost productivity.”
- The Gallup Business Journal
3 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Solution #1: The Engagement Conversation
Key Player
Manage Closely
Keep Informed
Two Way Communica5on
Keep Sa5sfied
Keep Informed
Influ
ence
High Priority
Low Priority
Low Priority
Moderate Priority
Moderate Priority
High Priority
Interest
• Vision? • S.W.O.T
4 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Critical Issue #2: Inability to Transition Your Strategy to Action
Strategy
Strategic Plan
Individual Plan
“Companies realize only 63% of the financial performance their strategies promise because of defects and breakdowns in planning and execution. More than 1/3 placed
the figure at less than 50%.”
- Harvard Business Review, Fall 2004
5 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Solution #2: Project Plan and Scorecard
6 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Critical Issue #3: Failure to Conduct Regular Reviews
“Less than 15% of companies make it a regular practice to go back and compare the business’s results with performance forecast.”
- Harvard Business Review, Fall 2004
7 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Solution #3: Establish the 3 Types of Meetings
Tac5cal Review Review current status of weekly ac5vi5es and progress since last mee5ng.
1
Quarterly Strategic Review Discuss strategic or higher level issues that effect the medium to long term.
2
Annual Management Review Review all inputs and outputs of the management system ensuring their con5nuing suitability and effec5veness.
3
8 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Critical Issue #4: Employee Action Not Aligned to Your Strategy
“Only 7% of employees today fully understand their company’s business strategies and what’s expected of them in order to help achieve the company goals.”
- Driving Success: The Incredible Power of Company-‐Wide Goal Alignment. SuccessFactors 2007
9 h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Solution #4: The Weekly Productivity Transformer
10
Tac5cal Review Review current status of weekly ac5vi5es and progress since last mee5ng
1
h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013
Weekly Productivity TransformerTM
!!
Profit Driver SolutionTM Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. April 2013
IA.FS.PDS.001.A0
Make It Stick
!
Name:! ! Date:!! !!
Positive(Focus(of(the(Past(Week(
Why(is(it(a(positive(focus?( Emerging(Challenges( What(actions(can(be(taken(to(overcome(the(challenge?(
!! ! ! !
!! ! ! !
!! ! ! !
!! ! ! !
!! ! ! !
!Current(Challenges(( What(immediate(actions(can(
be(taken(to(overcome(the(challenge?((
Priority(Deliverables(for(the(Quarter(
! ! !!
! ! !!
! ! !!
!! ! !
!Stewardship(Reporting((
Key(Priorities(for(the(Week(( Status( When( Who(!! ! ! !
!! ! ! !
!! ! ! !
!! ! ! !
!! ! ! !
!! ! ! !
!
Operationalizing Your Strategic Plan Solutions to the 4 Critical Issues
11
Engagement Within Your Organiza5on
Inability to Transi5on Your Strategy to Ac5on 2
Failure to Conduct Regular Reviews 3
Employee Ac5on Not Aligned to Your Strategy 4
1 The Engagement Conversa5on
Project Plan and Scorecard
Establish the 3 Types of Mee5ngs
The Weekly Produc5vity Transformer
h$p://strategy-‐consul5ng.ca Innovate Advisory Inc. All Rights Reserved. This integral concept of Innovate Advisory may not be reproduced in any form, or by any means whatsoever, without written permission from the publisher. Made in Canada. January 2013