Build Execution into Strategy

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Presentation transcript:

Build Execution into Strategy Trent Hemann Bunde Walker James Yost

Build Execution into Strategy A company consists of everyone from the top to the front lines All members need to be aligned around a strategy and support it; for better or worse Overcome organizational hurdles Important step in strategy execution Attitudes and Behaviors

Culture Trust and commitment People’s hearts and minds must be aligned with the strategy Voluntarily taking an extra step This challenge is amplified in a Blue ocean People required to step out of comfort zones Creating blue oceans requires significant change

Questions and Doubts When people are removed from the top and less involved these questions arise: What are the real reasons for this change? Is Top management honest when it speaks of building future growth through a change in strategic course? Are they trying to work us out of our jobs?

Fair Process John H. Thibaut and Laurens Walker People care about justice of process as much as the outcome Satisfaction rose when procedural justice was used Level playing field exists Voluntary Cooperation Perform to the best of their abilities

Google’s “Web TV” Offer Google TV service worldwide by next year. Strategy Formulation Sony first to implement No cost to developers and no fees to content providers Not extending advertising either Getting its platform in as many devices as possible in the quickest amount of time

Google’s Web TV Build Trust and commitment Within Google Sony Intel TV’s Intel Processors within TV’s Logitech Peripherals for interaction with TV (Remote, keyboard)

Google’s Web TV Voluntary Cooperation Exceed Expectations? Partners Google: Top to bottom Exceed Expectations? Execute fair process Keep everyone involved

The Three E Principles of Fair Process Engagement Explanation Expectation

The Three E Principles of Fair Process Engagement Involving employees that are affected by strategic decisions. Shows management’s respect for employees and their ideas. Sharpens everyone’s thinking and builds collective wisdom .

The Three E Principles of Fair Process Explanation Everyone involved and affected should understand reasoning behind the final decision. Shows that managers have considered other’s opinions Employees trust managers intentions Serves as a powerful feedback loop

The Three E Principles of Fair Process Expectation clarity Managers need to clearly state new rules of game How employees will be judged Penalties for failure Goals of the new strategy Who are the new targets

Google

Intellectual and Emotional recognition Emotional- valued as human beings, regardless of hierarchy Intellectual- ideas are sought after and given thoughtful recognition Google Perks

Importance of Trust Eagerness to trust and cherish the individual and have deep confidence in their knowledge If recognized, employees will work harder and are willing to share ideas to confirm their intellectual worth If treated with emotional recognition, emotionally tied to strategy, give it their all “At Google, we know that every employee has something important to say, and that every employee is integral to our success.”

Voluntary Involvement People will apply knowledge and expertise voluntarily If employees ideas are not valued, they will hide them or sabotage other ideas Push for roll backs, if 3 E’s not used because of a lack of trust

Importance of “Intangible capital” Commitment, trust and voluntary engagement= intangible capital Fosters confidence in others Act in interest of company, not self interest Stand apart in speed, quality and consistency Culture of innovation

How to accomplish Trust, Commitment and Voluntary Cooperation (Take Aways) Do not separate strategy formulation from execution Implement fair process People realize compromises and sacrifices will be necessary See long term benefits of short term sacrifices

Sources http://www.google.com/intl/en/jobs/lifeatgo ogle/index.html http://www.bloomberg.com/news/2010-10- 30/google-alcoa-ceos-urge-more- spending-on-innovation-to-compete-with- china.html http://www.betanews.com/article/Google- aims-for-Apple-with-Web-TV-launching- worldwide-by-2011/1283886535