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Management ExecutionManagement Execution
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The Eight Components of The Eight Components of Management ExecutionManagement Execution
OrganizationOrganization
ResourcesResources
Policies & Policies & ProceduresProcedures
Continuous Continuous ImprovementImprovement
SystemsSystems
Rewards & Rewards & IncentivesIncentives
CultureCulture
LeadershipLeadership
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Staffing the Organization—Building Staffing the Organization—Building Managerial TalentManagerial Talent
Assembling a capable management team is a cornerstone of the organization-building task
Find people who can “make it happen”
NETWORK AND COOPERATE – partners and fellow travelers are your friends!
Provide promising team members with skill-stretch assignments
Strive to retain high-performers via career path development and compensation
Coaching average performers to improve their abilities
EmpowerEmpower
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Allocating Resources to Strategy Allocating Resources to Strategy Critical ActivitiesCritical Activities
Allocating resources in ways to support effective strategy execution involves
Funding projects that hold promise, while turning down those that don’t
Providing the proper amount of funding to support new strategic initiatives
New strategies call for the reallocation of resources
A2 A2 (Events vs.(Events vs.Licensing)Licensing)
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Instituting Strategy Supportive Instituting Strategy Supportive Policies and ProceduresPolicies and Procedures
Policies and procedures facilitate good strategy execution by:Providing top-down guidance
regarding how things need to be doneEnforcing consistency in how
strategy-critical activities are to be performed
Promote a work climate that facilitates good strategy execution
MDMD(Deliverables(Deliverables& Contracts)& Contracts)
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Striving for Continuous Striving for Continuous Improvement in Internal ProcessesImprovement in Internal Processes
Searching out and adopting best practicesis integral to effective implementation
Benchmarking is the backbone of theprocess of identifying, studying, andimplementing best practices
Expose yourself to new ideas/colleagues/ companies/industries/academia
PwCPwC
MDMD
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Installing Information and Operating Installing Information and Operating SystemsSystems
Good information and operating systems are essential for first-rate strategy execution
Information systems are needed to track and report:Customer data
Operations data
Employee data
Supplier data
Financial data
RHMRRHMR(CRM)(CRM)
BertelsmannBertelsmann
(SAP)(SAP)
• The critical importance of having a “tech geek” on the teamThe critical importance of having a “tech geek” on the team• Online “virtual tech geek” resourcesOnline “virtual tech geek” resources
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Using Rewards and IncentivesUsing Rewards and Incentives
Reward systems should include both monetary rewards and non-monetary rewards
MonetaryMonetary
Base pay increases Bonuses Profit sharing plans Stock options Piecework
incentives
Non-MonetaryNon-Monetary
Praise and recognition
Stimulating assignments
Autonomy Rapid promotion
PwCPwC
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Corporate CultureCorporate Culture
A corporate culture or work climate is the product of work practices and behaviors that define “How we do things here”Approach to people managementThe chemistry of its work environment
A2A2
MDMD
CRSICRSI
dock11.comdock11.com
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Leading the Strategy Execution Leading the Strategy Execution ProcessProcess
Managers at all levels of the organization must:
Stay on top of what is happening
Be adept in determining what problems lie in the path of operating excellence
Push the organization for good results and operating excellence
““Feel the vibe”Feel the vibe”MBWAMBWA
SolveSolveProblemsProblems
InspireInspire
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Management Execution – Example Management Execution – Example (T-Shirt Company)(T-Shirt Company)
OrganizationFocus on word-of-mouth thought leaders
as partners for initial UC campus phaseConsider bringing on partner(s) for
expansion to other campuses Resources
Get input from Adam Campos on key resources (T-shirt production equipment)?
Later resource investments may involve marketing capabilities as well
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Management Execution – Example Management Execution – Example (T-Shirt Company)(T-Shirt Company)
Policies & ProceduresOrder, delivery, and payment terms
with customersLiability issues (flammability, allergies,
etc) Continuous Improvement
Advice contactsTrade association/trade journalsNetworking
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Management Execution – Example Management Execution – Example (T-Shirt Company)(T-Shirt Company)
Information SystemsInitial focus on technology team
member and basic office setupMid-term focus on inexpensive,
scalable ERP system Rewards & Incentives
Initial focus on “win-win” situations for partners and fellow-traveler firms
Initial focus on equity for key personnel
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Management Execution – Example Management Execution – Example (T-Shirt Company)(T-Shirt Company)
CultureFocus on camraderie by:
• Making sure the interests of all key personnel are addressed
• Finding regular weekly time for all key personnel to meet and work together
LeadershipInitial focus on frequent communication
with all partners to identify/address problems