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Strategic Management Forum

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Strategic Management Forum

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    1. Strategic Management Forum

    2. Welcome to Owners World Congratulations! Its your company. You make the decisions. Nobody tells you what to do. But What about your employees? You need them to do whats right. How come they often dont??

    3. Leading People People need to know what marks theyre supposed to be hitting. They want to understand how they can conduct themselves to please you and your customers. They appreciate a reminder when they goof up. And they want to know the rules arent a moving target or prone to selective enforcement. - Verne Harnish, Mastering the Rockefeller Habits The simple answer is, we dont tell them what is right not often enough, not clearly enough. This is a great quote from.The simple answer is, we dont tell them what is right not often enough, not clearly enough. This is a great quote from.

    4. Our Agenda Introductions Part I: Values & Purpose EXERCISE Part II: Goals EXERCISE Part III: Rewards EXERCISE Closing summary

    5. Entrepreneur vs Employee EMPLOYEES Do the work Are focused on todays urgencies Work in the business ENTRPRENEURS Know how to get the work done Focus on tomorrows opportunities Work on the business

    6. The real difference ENTREPRENEURS Dont like to be told what to do EMPLOYEES Need to be told what to do (if they didnt, they wouldnt be employees!) But they want to understand WHY

    7. Employees as a Team An organization will attract and retain a Team of people dedicated to the success of the organization and its goals when it has a Purpose, and; a set of Values that it lives by; effectively communicates them throughout the organization, and; measures its actions and decisions against them. So the best way to build a team is to have everyone understand and be constantly reminded of what the organization stands for and why it exists, what it is striving to accomplish. An organization that lives by a set of core values makes it easier to attract and retain the type of people who share those values. The team gains strength from its common purpose. Regular meetings to review accomplishments consistent with purpose helps the organization stay true. Recognition and correction of behaviors inconsistent with purpose helps keeps everyone motivated and supportive to the cause.So the best way to build a team is to have everyone understand and be constantly reminded of what the organization stands for and why it exists, what it is striving to accomplish. An organization that lives by a set of core values makes it easier to attract and retain the type of people who share those values. The team gains strength from its common purpose. Regular meetings to review accomplishments consistent with purpose helps the organization stay true. Recognition and correction of behaviors inconsistent with purpose helps keeps everyone motivated and supportive to the cause.

    8. Company Purpose You want employees who share your companys values, understand its aspirations, and appreciate its purpose Values what you stand for Aspirations what you hope to achieve Purpose an internal statement connecting values & aspirations; why you do the things you do, the way you do them

    9. EXERCISE What are your Companys Core Values? These will be used to help define the companys Purpose, which will ultimately become a written statement that all employees will know and understand. To help you discover a way to identify the Core Values of your company, we are going to do something Verne Harnish calls Your mission: to explain what your company stands for to a group of Martians. You have decided the best way to do this, is for them to observe the employees who best embody your companys core values, and embrace its purpose. Form groups, and select a volunteer to take notes. Each group member is to describe to the other group members the person in their company who they think best conveys what their company stands for. This could be anything or any number of things: community service, customer service, technical expertise, profitability, efficiency, friendliness, knowledge, best dresser, most prompt, cleanest hair, etc. Articulate things about the person that can be written down in a few words. Come up with 3-5 points for each employee, for each member of the group. (From one member to the next, the values articulated need not be unique. In fact, what the group is looking for is common themes.) Next, identify the values that seem to be most prevalent within the group. These become the de-facto group values. Develop the most powerful word(s) to describe each of these group values. Write these down as the core values for the group employee. You should have 5-10. These will be the values of the employee your group sends on the Mission to Mars. As a final step, we will develop a list of core values, using the employee representative from each group. Your mission: to explain what your company stands for to a group of Martians. You have decided the best way to do this, is for them to observe the employees who best embody your companys core values, and embrace its purpose. Form groups, and select a volunteer to take notes. Each group member is to describe to the other group members the person in their company who they think best conveys what their company stands for. This could be anything or any number of things: community service, customer service, technical expertise, profitability, efficiency, friendliness, knowledge, best dresser, most prompt, cleanest hair, etc. Articulate things about the person that can be written down in a few words. Come up with 3-5 points for each employee, for each member of the group. (From one member to the next, the values articulated need not be unique. In fact, what the group is looking for is common themes.) Next, identify the values that seem to be most prevalent within the group. These become the de-facto group values. Develop the most powerful word(s) to describe each of these group values. Write these down as the core values for the group employee. You should have 5-10. These will be the values of the employee your group sends on the Mission to Mars. As a final step, we will develop a list of core values, using the employee representative from each group.

    10. From Purpose, to The aspirations of your company, the long- term what we hope to achieve, could be: a number (or set of numbers) an event (become recognized as., achieve the reward for.) geographical reach (serving people across the central US) a combination of things. But fulfilling purpose requires more than just a statement. It requires a clear vision of the accomplishments needed for success. It requires

    11. Be SMART Goals should be Specific Measurable Attainable Relevant Time-Framed

    12. SPECIFIC Goal: I want to write an article. SPECIFIC: I want to write internet articles about time management that have at least 6 steps per article and I want to write them for the next three weeks. Ill commit myself to writing at least 2 articles every workday until I reach completion.

    13. MEASURABLE Goal: I want to be rich. MEASURABLE: I want to generate $6,000 in passive income within 2 years from this date.

    14. ATTAINABLE Goal: I want to become a millionaire in 2 months. ATTAINABLE: I want to become a millionaire within 10 years by starting my own personal design company, giving speeches about design, networking and by creating demand.

    15. RELEVANT Goal: Within one year, I want to become an owner of a Vegas Casino and start a gambling cartel that weeds out the competition. RELEVANT: By the end of the year, I want to create a website that sponsors design development and draws clients for my new company.

    16. TIME-FRAMED Goal: I want to write an article. TIME-FRAMED: I want to write an internet article about design concepts that has at least 6 phases and have it done by July 3rd."

    17. Exercise What would be SMART Goals for an integration company to have? Form groups and make a list of goals. Each group will present its top-priority goal and explain Goal specifics How it will be measured Why it is attainable Its importance/relevance Its time-frame for achievement (one year or less)

    18. From Goals, to The vision of success is clear, but now you need to get there: WHAT needs to be done (actions) WHEN is it to be done (deadline) WHO is responsible (accountability) HOW is it to be done (training/quality) To sucessfully achieve goals, you need to have

    19. Alignment This is a powerful model, especially when communicated throughout the organization: WHY we are doing this (Purpose) WHERE we are going (Goals) HOW we are going to get there (Plans) There is one other essential element to making this all work

    20. Measure & Reward Did it get done On time? Correctly? Monitor Constantly What if it did? What if it didnt? Timely with praise (public), equally consistent with consequences (private) Develop rewards for achievement of goals

    21. Types of rewards Frequent (daily, weekly) Monthly, quarterly, annual (commission; bonus) Individual or Group (eg, monthly team bonus) Deferred income (profit-sharing, 401(k) match) Personal days Lunches/dinners Merchandise/Gifts Recognition (internal/external)

    22. Exercise Develop company rewards for individual and/or group achievement Use the group goals developed earlier. Create a reward system for them, and be prepared to discuss Type of reward Who will be eligible Time-frame/frequency How it will be administered

    23. Values & Purpose Align Company Activities

    24. The Planning Pyramid

    25. Your Action Items Identify your companys core values & aspirations; develop a purpose statement that describes why you do things the way you do; and what the company hopes to achieve (see sample) Develop SMART goals for 90-day and 1-year achievement Develop rewards for excellence

    26. Your Team Needs to Know! What Why Where How When Who - Never assume, always follow up - THANK YOU!

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