News from the EDG
- Jack Mastrianni and Paul Butler have teamed up with some of the worlds thought leaders to develop a Next Generation Leaders program for a Global Branded Pharmaceutical Company. The program is based on the cutting edge research on what really drives leaders to create differentiation in the marketplace. GlobalEdg and the Results–Based Leadership Group (www.rbl.net) are apply the concepts of branding to produce a business-focused leadership development program for the organization. To see the framework, check out the Leadership Code on the RBL website.
- GlobalEdg executives are working with a large consumer products company to design and implement a process called Executing Business Initiatives. This is a follow-up to our flagship STAR (Strategic Thinking - Action - Results) program.
- Consultant Cathy Rongione along with Paul Butler are working with a fortune 100 Pharmaceutical on a fact- based analysis of the Talent Management processes and deliverables. The result will be a three-year Strategic plan for the organization that will be owned by the business.
- GlobalEdg, in concert with the Executive Director and CEO member group leads strategic planning initiative for National Non-profit Organization.
- Cost Innovation --- a program for cross-functional teams focusing on how to reduce costs while sustaining growth is being designed in coordinate with global pharmaceutical company – find out more! contact pbutler@globaledg.com
Want to find out more? Contact us
at: info@globaledg.com
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Why Strategic Planning Fails!
Whether we are working with Fortune 100 companies or Regional Non-Profits, we have found three primary reasons strategic planning fails. Emphasizing and adhering to simple rules and principles offers a clearer path through an effective strategic plan. Procter and Gamble’s success strategy mantra of Where to Play and How to Win would not be possible if the following mistakes are made.
Mistake #1: Lack of Clarity on Scale
Not being crystal clear on where to focus the analysis and planning. Strategic planning can start only when the scope of analysis has been determined. Whether you are building a strategic plan for the organization, a business unit, function or brand, how to scope identifying and NAMING the plan is important. The Gillette Strategic Growth Plan, Our HR Strategic Plan, The Sun Care Strategy Plan are examples of scale. More often then not, leaders turn to an unnecessary or irrelevant analysis, identifying key issues that are not aligned. The results: confusion and ultimately a miss-allocation of resources – both people and money.
Solution: Use the "Scope of Analysis" (SOA) to name your plan. The simple visual below offers guidance for executives to more effectively frame the issue being addressed.
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Determine the appropriate scope of analysis:
- Company
- Business unit
- Team
Why? Avoid "scope creep" or wasting time solving issues that are beyond your ability to resolve.
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Mistake #2: Blurring fact and opinion
Have you heard these statements before? "We are lacking real growth," "We need a larger share of the pie," "They are #1 in our market," or "Our business is stable"? These can mean anything and everything. One of our favorites is hearing a group of executives claim their organization is "change adverse." Opinions are important – they just need to be validated with data. Employ fact-based decision-making, not conjecture or opinions.
Why? Opinions cause teams to spin their wheels without reaching meaningful conclusions. They also offer open boundaries and opportunities for people to form their own conclusions.
Solution: Use fact-based versus opinion-based analysis. Always ask the question, what is the evidence supporting this?
If initially explained more thoroughly, data displays more unbiased factual information for executives to create a more truthful and concrete analysis.
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Employ fact-based decision-making, not conjecture or opinions.
Why? Opinions cause teams to spin their wheels without reaching meaningful conclusions.
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Mistake #3: Not focusing on the Vital Few
Every organization has multiple problems for which they need to solve. We have found this to be especially true with organizations attaining success and growing at a rapid pace. What do you focus on first? This is evident in the two most important parts of any plan: Identifying Key Issues and Making Strategic Choices. Without proper analysis, organizations lose track of the real issues on which they should focus. Summarizing buckets of data and classing the topics into 5-6 key issues that need to be addressed gives you focus. It also helps you make good choices – ultimately what strategy is all about; it should require you to focus on the best choices to make.
Solution: Apply the Pareto Principle. Also known as the 80-20 rule; focusing on 20% of the choices will deliver 80% of the results. Create organization-specific criteria for channeling issues into key issues and strategies into choices.
Apply the 80-20 rule, i.e., focus on the 20% of activities that will deliver 80% of the results.
Why? Maximizing and using limited resources more productively will deliver quick wins to generate momentum for change.
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Apply the 80-20 rule, i.e., focus on the 20% of activities that will deliver 80% of the results.
Why? Use limited resources most productively; deliver quick-wins to generate momentum for change.
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Eliminating these mistakes with these simple principles will ensure the right path to a successful outcome. Success becomes more of a guarantee versus a hopeful outcome if you apply these three simple rules.
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