Flip-a-Coin| Bridging the Gap Between Strategy & Execution Flip a Coin: Bridging the Gap Between… Strategy Execution

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Introduction Business Consulting Analyst for Nationwide Financial and has been with the company 14 years; currently supporting NF Digital & Distribution applications, capabilities, and processes. Responsible for providing thought leadership to enable realization & delivery of Business & IT strategies across multiple applications and business units. business units.

Flip-a-Coin| Bridging the Gap Between Strategy & Execution “We don’t need a new strategy to fix our performance; we just need to execute the one we have.”  Planning solves everything  We can never deviate from the plan  Perfect planning yields perfect execution  Strategists do not have to be involved Myths re: Strategy

Flip-a-Coin| Bridging the Gap Between Strategy & Execution “You don’t win by having a better strategy; you win through superior execution.”  Getting things done means progress  Who cares as long as we deliver  Strategy is out of touch with reality Myths re: Execution

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Strategy vs Execution Total US National Debt = JP Morgan Chase Total Assets= ~$2.5 Trillion ~$17 Trillion That could pay for ~12.5% of the total debt!

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Strategy vs Execution “I’d rather have a first-rate execution and second-rate strategy any time than a brilliant idea and mediocre management.” “I’d rather have a first-rate execution and second-rate strategy any time than a brilliant idea and mediocre management.” - Jamie Dimon; CEO of JP Morgan Chase

Flip-a-Coin| Bridging the Gap Between Strategy & Execution If life were a movie

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Let’s discuss  Shared characteristics of Strategy and Execution  New perspectives and considerations to address challenges challenges Key Insight: Bridging the gap does not occur without: 1. Expectations 2. Transparency 3. Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Same starting line “Vulnerability is the birthplace of innovation, creativity, and change” – Brene Brown; author, speaker & research professor at the research professor at the University of Houston University of Houston

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Defined Strategy

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Defined “…Figuring out something in advance and making a advance and making a thoughtful plan to do it…” thoughtful plan to do it…” – Bruce Mau, renowned designer Strategy

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Characteristics Strategy is comprised of… Strategy Insight = Knowledge of why to do something Direction = Guiding how to do something Motivations = Reasons for doing something

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Defined Execution

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Defined “…a systematic way of exposing reality and acting on it.” “…a systematic way of exposing reality and acting on it.” -Larry Bossidy; retired CEO and Ram Charan; renowned Ram Charan; renowned management consultant management consultant Execution

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Characteristics Execution is comprised of… Execution Experience = Practice doing something Alignment = Coordinating doing something Commitment = Trusting in something

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Different sides You acquire knowledge through practice Insight is formed through Experience Insight&Experience KnowledgePractice

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Different sides You are unable to guide with coordination Direction is enabled through Alignment Direction&Alignment GuidingCoordinating

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Different sides You are unable to trust without the right reasons Motivations are strengthened through commitment Motivations&Commitment ReasonsTrust

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Motivations&Commitment Direction&Alignment Insight&Experience Strategy&Execution Same Coin

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Bridging the gap Principles of success in Strategy & Execution: 1. Expectations 2. Transparency 3. Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Are not… Expectations

Flip-a-Coin| Bridging the Gap Between Strategy & Execution All about perspective “We don’t see things as they are, we see things as we are…” – Anais Nin; author Expectations

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Must have…  Consensus even with conflicting goals  Clear & concise message  Understanding Goal, Value and Benefit and Benefit Expectations

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Examples… Expectations Not so well Pretty well

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Is not… Transparency

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Simplify the complex “Complexity is the enemy of clarity.” - Andy Stanley; pastor, author and speaker Transparency

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Must have…  Coordination  Accountability & Responsibility  Process with the people & technology to support technology to support Transparency

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Examples… Transparency Not so well Pretty well

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Is not… Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Truly listen “Most people do not listen with the intent to understand; they listen with the intent to reply.” -Stephen R. Covey; author, educator, speaker and businessman businessman Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Must have…  Collaboration  Trust  Conflict Resolution Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Examples… Communication Not so well Pretty well (maybe)

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Without communication Coordinated without momentum…  Only the “easy” gets done  Promises without delivery  Failure to progress Transparency Expectations

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Without Transparency Buy in without coordination…  Competing for resources  Failure to agree to deadlines and/or ways of working working Expectations Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Without expectations Transparency Communication Cooperation without purpose…  Everyone heading in different directions  Teams going nowhere fast  Running in circles

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Building the bridge! ExecutionStrategy Transparency Communication Expectations

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Top 10 Considerations 1.It’s alright to disagree…embrace it 2.Change the mindset…not the reasons why 3.Keep asking why… 4.Enable the ability to envision the potential 5.Don't be afraid to question the way it is 6.Adjust the culture, but don't jump without a parachute 7.Remove the fear of failure and the perception it creates 8.Telling is not Leading! 9.People buy in to the individual before they buy in to the vision 10.We respond to the environment we are in Expectations Transparency Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution What did we discuss  Shared characteristics of Strategy and Execution  New perspectives and considerations to address challenges challenges Key Insight: Bridging the gap does not occur without: 1. Expectations 2. Transparency 3. Communication

Flip-a-Coin| Bridging the Gap Between Strategy & Execution Thank you! Contact information… Corwin Smith Office:(614) Cell:(614)