Executing Strategy CAPITAL. From Boardroom to Frontline. Timothy C. Daughtry, PhD and Gary R. Casselman, PhD. Capital Ideas for Business

Transcription

1 Executing Strategy From Boardroom to Frontline Timothy C. Daughtry, PhD and Gary R. Casselman, PhD Capital Ideas for Business CAPITAL Sterling, Virginia

2 Table of Contents Table of Contents Acknowledgments i xiii Introduction. 1 Outline of the Book 2 Chapter 1 The Baton and Three Handoff Zones 5 Strategic Execution and the Handoff Zone 5 Common Problems in Executing Strategy 7 Lack of Strategic Focus (Trying to Be Everything)... 7 Failure to Prioritize (Trying to Do Everything) 7 Failure to Develop Managers 8 Dumping and Micromanaging 8 Avoiding Accountability 9 The Strategic Baton 10 The Environmental and Organizational Context That Shaped the Strategy 10 The Organizational Vision 10 The Strategy Itself (the Value Proposition, Major Trade-offs, and Strategic Paths) 10 The Barriers to Execution and Plans to Address Those Barriers 11 The Personal Implications of the Strategy, Performance Expectations, and Accountabilities 12 The Organizational Values and Team Agreements That Will Form the Behavioral Boundaries for Execution 13

3 Executing Strategy Overview of the Handoff Process 13 Preparing for the Pass 13 The First Challenge 14 The Second Challenge 14 The Third Challenge 14 Making the Handoff 14 The Fourth Challenge 14 The Fifth Challenge 15 Following through after the Handoff 15 The Sixth Challenge 15 The Seventh Challenge 15 Chapter 2 The First Challenge: Sizing Up the Field 17 & Bucks Financial Services 17 Systems and Stages: The Context for the Race 19 Understanding Systems 19 Systems View of Biggs & Bucks 22 Stages of Organizational Development 24 From Personality to P&L: Three S-Curves 26 The Organizational S-Curve 27 The Leadership S-Curve 27 The Personal S-Curve 27 How the Personal Ends Up in the P&L 28 Three S-Curves at Biggs & Bucks: How Personality Ends Up in the P&L 31

4 Table ol Contents Chapter 3 The Second Challenge: Sizing up the Team 35 Right Runners, Right Roles 35 Three Management Levels and Three Handoff Zones 35 Senior or Systems Level 36 Middle or Organizational Level: The First Translators of Strategy 39 Line or Operational Level 43 Guaranteeing a Fumble: Failing to Develop Managers for Their Roles 44 Where Senior Managers Drop the Baton 45 Where Middle Managers Drop the Baton 45 Where Line Managers Drop the Baton 46 The Invisible Levels: Three Handoff Zones 47 The Talent Base at Biggs & Bucks Financial Services 50 The Third Challenge: Chapter 4 Anticipating Problems in the Handoff Zone 53 Understanding the Handoff Process 53 Ideal Alignment and Ideal Handoffs 55 The Environmental and Business Context of the Strategy 56 The Company's Vision 57 The Strategy 57 Barriers to Execution and Solution Paths 57 Personal Implications, Performance Expectations, and Accountabilities 58 The Organizational Values as They Apply at Each Level 59

5 Executing Strategy Common Problems with the Handoff 59 Scenario 1: All Levels Working Beneath Ideal Role (or Are They?) 60 Scenario 2: Strong Line, but Senior and Middle Management Underperforming 62 Scenario 3: Fumbling in the Middle Ranks 64 Defining the Handoff Zone at Biggs & Bucks 67 Your Execution is Only as Good as Your Weakest Links 70 A Brief Preview of the Players 71 Chapter 5 The Fourth Challenge: The Strategic Baton 73 Seven Elements of Strategy 73 The Business Context: What Are We Facing? 74 Environmental Scanning at Biggs & Bucks 75 Defining the Business Case at Biggs & Bucks 78 Stages of Growth and Organizational History at Biggs & Bucks 80 Organizational Vision: Where Are We Going? 83 The Relevance of Vision at Biggs & Bucks 85 Strategy: What Is Our Path? 87 A Strategy Map for Biggs & Bucks 89 Organizational Value Proposition and Major Trade-offs: How Will We Differentiate Ourselves? 92 The Barriers to Execution and Solution Paths: What Could Stop Us? 95 An Assessment of Barriers to Execution at Biggs & Bucks 97 Personal Implications and Performance Expectations: What Does This Mean for Me? 98 Organizational Values and Team Agreements: How Will We Get There? 100

6 Table of Contents Chapter 6 The Fifth Challenge: Translating Strategy into Expectations 103 Translation of Strategy: Senior Management to the Organization 103 Translation of Strategy: Senior Management to Middle Management 105 A General Process for Managing the Handoff. 108 Here's How We Do It 108 The First Handoff Zone at Biggs & Bucks: Senior to Middle Strategy and Themes 110 Look at Your Team, but Remember Not All Runners Are Equal 113 Drill Down to the Individual 114 Translation of Strategy: Middle Management to Line Management 117 Meet Myra Bennis, Supervisor of Training and Development 117 Translation of Strategy: Line Management to Organization 120 Meet Tracey Collins, Anchor Runner 120 Meanwhile, Just Down the Hall 121 Chapter 7 The Sixth Challenge: Coaching for Performance 125 Factors to Consider Before You Start Coaching 125 Two Kinds of Performance 125 People and Systems 128 A Guide to Performance Development 129 Performance Hurdle #1: Expectations 129 Four Dimensional Leadership 132

7 Executing Strategy Performance Hurdle #2: Commitment 141 Performance Hurdle #3: Skill 146 Performance Hurdle #4: Confidence 151 Performance Hurdle #5: Personality and Motivation 155 Performance Hurdle #6: The Organizational Support Systems 162 Chapter 8 The Seventh Challenge: Guiding Execution without Micromanaging. 169 What's the Difference? 169 Guiding Execution at the Senior Management Level 170 Guiding Execution at the Middle Management Level 174 Guiding Execution at the Line Management Level 176 Chapter 9 Creating Your Handoff Plan 181 The First Challenge: Sizing Up the Field 181 Environmental Scan 182 Organizational Scan 182 The Second Challenge: Sizing Up the Team 183 The Third Challenge: Anticipating Problems in the Handoff Zones 184 The Fourth Challenge: Defining the Strategic Baton 189 The Business Context 190 Organizational Vision 191 The Strategy 191 Value Proposition and Major Trade-offs 192 Barriers to Execution and Solution Paths 193

8 Table of Contents Personal Implications and Performance Expectations 194 Organizational Values and Team Agreements 194 The Fifth Challenge: Translating Strategy into Expectations 195 The Sixth Challenge: Coaching for Performance 197 The Seventh Challenge: Guiding Execution without Micromanaging 205 Some Final Thoughts 206