Fcmb march 2011 day 3 revised
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Transcript of Fcmb march 2011 day 3 revised
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Recap
Estimating the future
Break
Stress testing assumptions
Making choices under uncertainty
Lunch
Your advice to Executive Mgmt.
Conclusion
What to read
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Repetition
Repetition
Repetition
Repetition
Repetition
Repetition
Repetition
Repetition
Repetition
Repetition
RepetitionRepetition
Repetition
Repetition
RepetitionRepetition
Repetition
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Customer willingness to pay
Cost of delivering
what the customer buys
Strategy
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Implementation happen primarily by changing the allocation of resourcesconsistent with objectives
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Any non-human assetof an organization thata manager can deploy
Brands, equipment, IP, licenses, machinery, information, etc.
Money
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People Skills
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Time Duration, sequence and project choices to which you apply the money and people that you have
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Misalignment
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Performance Expectations
Delegation Outcome defined
Importance and urgency communicatedReasonable deadline set
Decision rights set
Resources
Accountability Measures
Reporting process / frequency
Handling exceptions
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Leadership
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To become a more effective leader, I will…
Do more of…_______________________________________________________________________________________________
Do less of…_______________________________________________________________________________________________
Start doing…_______________________________________________________________________________________________
Stop doing…_______________________________________________________________________________________________
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Customer willingness to pay
Cost of delivering
what the customer buys
Strategy
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Is your strategy “good enough” for the future?
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Source: Courtney, Kirkland and Viguerie, 1997
Predictable
Discrete possible futures
Range of futures
No clearfuture
Why this matters
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Before
After
Sources of threat and opportunity
•Changing customer preferences
• Competitor actions
• Economic conditions
• Social trends / changes
• Political / legal
• Technological advances
• More or less globalization
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Your assessment Effect on FCMB’s customers’ willingness to pay
Effect on FCMB’s cost structure
Source Likeliest factor Threat Opportunity Threat Opportunity
Changing customer preferences
Competitor actions
Economic conditions
Social trends / changes
Political / legal expectations
Technological advances
More / less globalization
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Predictable Discrete possible futures
Range of futures
No clearfuture
Overall threat assessment:
Overall opportunity assessment:
1 2 34 5
6
1 2 3 4 5
6
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What if…?
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What assumptions
have youmade?
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Now what?
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Postures
Shape the future
Adapt to the future
Reserve the right to play
____________________
Tactics
Scenario planning
Option-based decisions
“Plan B”
Measurement
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Customer willingness to pay
Cost of delivering
what the customer buys
Strategy
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Priorities for our bank
Advice to FCMB executive management
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To achieve excellence as a bank, we recommend that FCMB must…
Do more of…1. ________________________________________2. ________________________________________3. ________________________________________
Do less of…1. ________________________________________2. ________________________________________3. ________________________________________
Start doing…1. ________________________________________2. ________________________________________3. ________________________________________
Stop doing…1. ________________________________________2. ________________________________________3. ________________________________________
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Let’s sum up…
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You always have choices about building your future
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The most importantchoice is to begin.
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For your staff, only you can create conditions where their desire for excellence can flourish.
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Structural and cultural elements…
that enables an organization to: detect discontinuous change early, interpret the consequences,
and formulate effective responses.
Rene Rohrbeck, 2010
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1. Operational Decision Making2. Coaching and Developing Others3. Empowerment/Delegation4. Establishing Strategic Direction5. Influence6. Financial Acumen7. Driving Execution8. Customer Focus
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Customer willingness to pay
Cost of delivering
what the customer buys
Strategy
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Source: Courtney, Kirkland and Viguerie, 1997
Predictable
Discrete possible futures
Range of futures
No clearfuture
What kind of future awaits?
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Leaders influence
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What will you NOT tolerate?
Be clear about your values
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Choose action
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Seek and embrace responsibility
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Enable cooperation
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Develop others
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To become a more effective leader, I will…
Do more of…_______________________________________________________________________________________________
Do less of…_______________________________________________________________________________________________
Start doing…_______________________________________________________________________________________________
Stop doing…_______________________________________________________________________________________________
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Managing, Mintzberg, 2009
Execute, Bossidy and Charan, 2002
What Management Is, Magretta, 2002
The Human Equation, Pfeffer, 1998
What to read
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Next step: operational excellence
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Thank you!