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Define World-Class Execution | Online Community Strategy
Define World-Class Execution. Developing the Action Plan. It’s common to dive into a tactic without consering what world- execution of the tactic …
Source: www.feverbee.com
Date Published: 8/20/2022
View: 3977
How to Build a World Class Strategy Execution System
Key takeaways by reading this free executive briefing on how to build a World Class execution system include: Explanation of why and how the …
Source: www.processexcellencenetwork.com
Date Published: 4/28/2022
View: 5098
What is World-Class Strategy Execution
Listen in to understand what a World-Class Strategy Execution Framework looks like. Find out why StrategyX can help you achieve your strategic goals.
Source: www.strategyexe.com
Date Published: 1/5/2021
View: 1763
How to Build a World Class Strategy Execution – Flevy
How to Build a World Class Strategy Execution. Contributed by Paul Docherty on June 23, 2016 in Operations & Supply Chain, Strategy, Marketing, & Sales …
Source: flevy.com
Date Published: 2/12/2022
View: 1400
Building World-Class Teams – Medium
Generally speaking, companies that fail don’t do so because of a lack of ambition or vision, but as the result of poor execution. It takes top- …
Source: medium.com
Date Published: 3/28/2021
View: 2394
World Class Business Execution
World Class Business Execution … – 90% of strategies fail due to poor execution (HBR): … Only 27% of employees have access to their company strategic plan.
Source: www.slideshare.net
Date Published: 8/14/2022
View: 9747
World class execution – Masungi Georeserve – TripAdvisor
Masungi Georeserve: World execution – See 170 traveler reviews, 699 cand photos, and great deals for Rizal Province, Philippines, at Tripadvisor.
Source: www.tripadvisor.com
Date Published: 12/14/2022
View: 1647
World Class Project Execution – Novenco
World Class Project Execution. 15-06-2017. Share this page: Leveraging on the long Marine and Offshore experience of our employees at the different sites, …
Source: www.novenco-marine.com
Date Published: 3/26/2022
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주제와 관련된 이미지 world class execution
주제와 관련된 더 많은 사진을 참조하십시오 【崩坏3rd\\/MAD\\/燃向】world.execute (me) ;-Mili 舰长的女人决不认输. 댓글에서 더 많은 관련 이미지를 보거나 필요한 경우 더 많은 관련 기사를 볼 수 있습니다.
주제에 대한 기사 평가 world class execution
- Author: HOYOVERSE FANS
- Views: 조회수 272,333회
- Likes: 좋아요 6,053개
- Date Published: 2018. 1. 22.
- Video Url link: https://www.youtube.com/watch?v=0eXrqizdsFo
Define World-Class Execution
It’s common to dive into a tactic without considering what world-class execution of the tactic might look like.
For example, you might invite a guest speaker to fill a weekly speaking slot. To do this, you could simply send out an invite to a few people, see who is available, record the session when they are free and post it online.
Job done.
But that’s hardly world-class execution of the tactic. With the resources we have made available to ourselves, now we only care about world-class execution of our tactics. Let’s try to do the example before at a world-class level.
Tactic: Host a guest interview with a top expert Key Elements of Execution Details Find an amazing guest You would need to find someone people respected, who was charismatic, who would take the time to deliver something good. Terrific message Your speaker would have something new, controversial, different, or emotionally deep to share. Great medium The production would be high-quality and perfectly match the viewer’s intent. This would not be an hour-long, unedited, webinar converted into a video file for others to download. Big audience This wouldn’t be seen by just one or two people, but would reach most of the community.
If you managed to get all four of these, you can be sure the execution of the tactic would be as big as it could be.
You might not be able to do each of these, as your resources are too limited. However, once you know what world-class looks like, you can begin to make compromises from there. This also helps you explain to others what any additional time or resources could be used for.
What is World-Class Strategy Execution?
: :
Getting the job done or achieving results can have the same challenges as baking a cake – if you don’t have the right ingredients and you don’t follow the recipe, chances are you won’t be getting that smile on your face after your first bite.
In the next two minutes we’re going to talk about the foundational principles your business needs for a world class strategy execution standard. Each episode after this this will address another element for implementing a strategy execution framework to give your business the best chance of producing the results you want.
There are five essential elements for turning hard work into business results. This is true regardless of the industry or business you operate in.
If you master these five things, you will be on your way to success. Let me give you quick overview each one.
1) Direction and Clarity – It will be almost impossible to know what’s required to meet your goals if you don’t establish clear direction.
2) Alignment – If you’ve ever owned a car, you’ll know if the wheels become unbalanced or out of alignment, your steering wheel shakes when you’re driving. If your staff are not aligned to the goals in your business, steering your business becomes just as difficult.
3) Scoreboards –You must have scoreboards for anything critical to your success or failure and they must be simple enough for you to tell, at a glance, if you’re winning or losing against your goals.
4) Engagement – Engagement is ensuring all employees are contributing and that both managers and employees are communicating effectively, both up and down the chain.
5) Accountability – Accountability simply means holding your staff accountable for the work you need done to the standard you expect. Accountability for managers could mean providing sufficient support to assist employees in delivering the desired results. It’s also important for managers to understand that consequences should be used as a tool for modifying unwanted human behaviour.
In summary, the five elements of a world class strategy execution framework are:
1. Direction and clarity
2. Alignment
3. Scoreboards
4. Engagement
5. Accountability
You’ll want to write each of these five principles down because over the next few episodes we will discuss each one in more detail. You will be able to adopt these principles into your own business with the ultimate objective of helping you achieve your business vision, mission and goals.
How to Build a World Class Strategy Execution
Editor’s Note: This article is an excerpt from the full Integrated Strategy Execution (ISE) Executive Briefing report, available for free download from Flevy here.
* * * *
Is poor execution inevitable?
The short answer is no, but let’s explore this further. A recent Harvard Business Review article highlighted that over 70% of organisations admit they are failing at strategy execution and it is the #1 reason behind Global 500 CEO turnover (according to a Ram Charan study). In spite of these results, strategy execution is consistently listed as a top priority for CEOs within the annual Conference Board survey. Given its importance, is a paradox that poor execution still plagues the majority of organizations.
The good news is that more recent research, including the 2012 study by the Business Research and Analysis Group covering 252 large organisations, indicates that more organisations are being successful at execution. Critically, a blueprint for an Integrated Strategy Execution (ISE) Business System that can be rapidly and effectively replicated to dramatically improve execution results is emerging.
Why do the best so spectacularly and consistently out-perform the rest?
When we think of great performers, we are tempted to think of new-tech leaders, like Apple, Google, Facebook or Amazon. Perhaps it is because of their rapid growth, which has led them, over last 10 years, to become ubiquitous and immensely valuable. However, if you take a longer term view, the jury is still out on whether these organisations will continue to out-execute their competition. They have either not been in existence for long enough to demonstrate their adaptability to fundamental shifts in the market and environmental conditions, or in the case of Apple, haven’t always been this successful. Whilst clearly still benefiting from product innovation, it’s a matter of speculation whether Apple will continue to generate the same level of shareholder returns over the next two decades as it has under Steve Jobs for the last 10. It wasn’t so long ago that Microsoft, with its Windows monopoly, seemed unassailable, but it is now struggling to keep up with new rivals.
Maintaining exceptional long term performance over multiple decades demands two key capabilities: the ability to adapt to changing circumstances; and the ability to systematically and consistently reinvent business models. Innovation cycles are continuing to compress – compare the 70 years it took for telephones to reach 40% adoption in the US market with the 10 years it has taken smart phones to achieve the same target – and the rate of change is continuing to increase. There is therefore a huge premium, not to mention a basic survival requirement (witness Kodak, GEC, Saab and Borders), in being able to pivot strategy quickly and execute consistently.
A few remarkable organisations have clearly demonstrated an ability to consistently out-execute their peers over multiple decades. One of these is the Danaher Corporation. Although not as well-known as other S&P companies like Apple, this $20Bn US industrial conglomerate is one of the world’s best long term performers. Since their inception as DMG Inc. in 1969, (the company was renamed Danaher in 1984), Danaher have consistently out-performed the S&P index over 30 years, successfully integrating over 400 acquisitions along the way.
With a portfolio of nearly 600 subsidiary companies that manufacture amongst other things, engine brakes for trucks, diagnostic instruments and dental braces, Danaher attributes its success to an integrated strategy execution system that it calls the Danaher Business System (DBS). Lawrence Culp, who served as the company’s CEO for the past two decades described their DBS as “the most valuable asset we have, even though it doesn’t appear on the balance sheet.” Borrowing heavily from the Toyota Production System, the DBS builds on the lean production philosophy by integrating additional tools such as Hoshin Kanri for strategy deployment and systematic ideation, to create a holistic “execution” system.
Whilst Danaher are understandably and justifiably proud of their business system, there is clear evidence that it both can, and is being, replicated within a reasonable timeframe. This is evidenced in the chart below, which shows the relative performance in terms of shareholder returns of two other S&P stocks relative to the S&P large cap index.
Belden and Idex are large conglomerates manufacturing a range of industrial and consumer products. Revealingly, both have appointed ex-Danaher senior executives as CEOs (who have quickly moved to create equivalents of the DBS) and both have consistently achieved stellar results over the last decade. Other exceptional organisations with similar business systems include the Virginia Mason and Thedacare hospital systems, Southwest Airlines, United Technologies and Toyota Motors, all of whom have also demonstrated market beating performance over multiple decades.
Our conclusion is that the “secret sauce” behind the success of Danaher, Belden and Idex, as well as the other exceptional organisations listed, is their commitment to investing in the creation of an integrated operating system that they use religiously to drive execution of strategy and manage daily operations.
In essence, these integrated operating systems – increasingly being referred to as an Integrated Strategy Execution (ISE) Business System – integrate the ‘hard’ stuff (e.g management processes) with the ‘soft’ stuff (e.g. cultural norms) to successfully manage large scale transformation and make it stick. To clarify further, management processes include the methodologies that organisations use to set and deploy goals and targets; execute and monitor the resulting initiatives; manage and improve daily operations; adapt strategy and execution to changing circumstances; as well as the different tools, methodologies and technology that enable those processes. Conversely, the ‘soft’ stuff includes organisational guiding principles, values, behaviours and underlying cultural norms. An ISE Business System successfully combines the two to ensure successful transformation.
Why do the majority of organizations struggle with execution?
To understand how an ISE Business System helps large organisations to execute better, it’s worth first considering what happens in organisations that take a more traditional approach to strategy execution.
Traditionally, the majority of large organisations operate an annual planning calendar that goes something like this. Somewhere, towards the end of the second quarter, top management retreat to an off-site location for a few days to contemplate the future. This retreat is typically part of a strategic planning process which scans the environment, considers strengths, weaknesses, opportunities and threats and results in reasonably broad consensus, usually captured in a PowerPoint deck, on the general direction the business should be heading and the main things it needs to do to get there. Upon returning, the executive team typically then sets about creating more detailed strategies and plans for their individual units/functions (usually involving a similar process with the next level of management) based on the high level intent/vision/building blocks “agreed” at executive level.
Download the full Integrated Strategy Execution (ISE) Executive Briefing report here.
World Class Business Execution
The Business Execution Gap
Companies execute their strategy in fits and starts, and few companies are
good at aligning their current activities to their long term strategic priorities
– 90% of strategies fail due to poor execution (HBR):
• Only 27% of employees have access to their company strategic plan.
•Only 5% of employees understand their company strategy.
• 92% of organizations do not measure Key Performance Indicators
Review of Masungi Georeserve, Rizal Province, Philippines
This place is just wonderful, well kept, charming, and quite challenging (especially when you get to the hanging rope bridge).
This is for people who would like to bask in the beauty of nature and experience a breathtaking adventure. And when I say breathtaking, it’s not for the faint of heart. Crossing hanging bridges is no joke especially for people who have acrophobia and basophobia. It’s either you will cower in fear or conquer your fear through sheer excitement. Just think of how cool it is to lie your back in a giant hammock (duyan) suspended high above from the ground, and then making your way to the other side while making sure your foot does not go through the openings. Pure excitement!
Needless to say, there will be lots of picture perfect areas along the trail, and that’s the reason why it would take around 4.5 hours to finish it. Actually, one could take just 3 hours to complete it if you don’t bother taking photos, but that would be no fun!
I recommend attaching your smart phone on strap and hang it around your neck. That way, it’s easier to take photos without constantly worrying about it falling down. Anything that accidentally falls down from high places will highly likely be irretrievable, so take care of your phone.
I used the soft waterproof plastic casing used for taking pictures underwater and hung it around my neck while climbing up or down the ropes.
In case you want to have a group shot, you can always ask your friendly guide to take it for you. Our amazing guide was Kuya Ruben, the Ruben whose name you see in Yungib ni Ruben. He’s practically the one who discovered that cavern. He’s a fantastic guide, literally even goes on a limb to take that beautiful shot for you.
The best month to visit this place is absolutely in January. The weather is very cool so you won’t sweat buckets. Still, applying sunblock lotion is a must. Best to wear comfy pants or leggings for easier movement. Also wear good shoes. It actually doesn’t have to be closed shoes, you can wear sandals as long as it’s suitable for trails and safely fastened to your feet.
Do visit the loo before starting the trek as there will be no restrooms along the trail. Speaking of restrooms, I really like how it was made. It looks naturally posh and clean.
After the trek, you are given delightful frozen towels! And a light meal is also served. It consists of chicken sandwich, bananas, and calamansi juice. Refreshingly good.
We had a wonderful experience here. I just wish they give printed or illustrated trail maps with all the 9 attraction spots indicated in it. That could serve as one of the memorabilia visitors can keep. Speaking of which, we were given a certificate as thanks for visiting Masungi and for being part of their project—planting trees to bring back the trees that were wiped out by excessive logging.
And so aside from having a memorable adventure, we also get to have a tree planted by our group’s visit. Awesome nature tripping 🙂
World Class Project Execution
Leveraging on the long Marine and Offshore experience of our employees at the different sites, Novenco Marine & Offshore has developed a Project Execution Model that will grant its customers a world class handling of their projects.
Improvement of Project Execution Process
8 years ago, Novenco Marine & Offshore acknowledged that the Project Execution process needed to be optimized due to the increased globalization. Often the projects involved shipyards and ship owners from different continents combined with a worldwide network of suppliers. At the same time, we had a large knowledge built up throughout our organization, which would be optimal to share.
A team was organized consisting of highly skilled Novenco staff from all sites. The aim for the team was to gather best practices from all around and formalize this into a model in order to ensure the best handling of our projects. The model should consider both external customer needs (quality, on time delivery, progress reporting) as well as internal needs (control of risk, reporting and increase of efficiency).
Global Project Execution Model
In 2011 the Global Project Execution Model was released and gradually implemented in the organization along with the Main Documents and check point at major project milestones, ensuring correct execution.
The team behind the Global Project Execution Model is still working on continuous improvement of the model to make sure it fit our current needs.
How does the model benefit you and your project?
Although we have offices all over the world our staff is working uniformly on common platforms and with common tools and procedures. As a result of this, we can start a drawing in Shanghai at 8am and continue until 5pm in Europe and increase a working day to 16 hours.
If you want to know more about our Project Execution and capabilities, please feel free to contact:
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