- Are you ready to execute, welcome to Volume 3
of my This Is Strategy, now it's all about executing.
The first volume we were looking at
how to understand what we are doing as a business,
what direction we are going and what targets
we are setting, what problems we are facing,
how to mitigate the problems and how to
create project plans using the value mapping
for the strategy for reaching the targets.
Now, all that's left is to execute,
but this is the most difficult part
and where most strategies they fail completely.
Stick with me and I'll tell you simple ways
of making sure that your project actually gets executed.
I'm Frederik, I have 25 years of worldwide experience
in successfully developing people and businesses.
I've built this channel because I believe
we can all grow stronger, we should all grow stronger.
So, I'm giving you five, seven, 10 minutes videos
on how you can improve yourself,
your team, your business, fast and easy.
Make sure you subscribe, stick with me, and I'll tell you
how to execute your strategy, are you ready, let's go.
(rhythmic upbeat music)
Having a fine list of projects is worthless
if you don't know how to get the projects up and running.
For me, first step in getting projects up
and running is to put them in an overview,
so that you actually know if there's any dependency
between the projects and what time
during the strategy that you have
to make sure that the project has been completed.
To do so, I use what is called the Transformation Map.
The Transformation Map is basically a map showing
my five, six, seven projects towards the end
of the strategy time, typically a year.
Within in this map, I will put the different projects.
Let's say we have a project for maintaining the price.
We do not want the price to increase or decrease
because our customers' unhappy.
What projects do I need to run to maintain my price?
When during the strategy period,
do I have to run these projects?
I'll put this in one line of the strategy map,
the Transformation Map, and so forth.
If my service level have to increase significantly,
I will need to take the projects
that I have to run, and put in the track in the
Transformation Map for the service level.
I'll do this for every of the value drivers
that I identify, you may wanna look at my
This Is Strategy Volume 2B, linked here.
If you don't know what I'm talking about,
this is where we identify the projects needed
for you to reach your strategy.
Once you've completed all this,
you may want to make just an initial thought of
what would each project cost you
and manpower and in real money, and you can write this
on the bottom line of the Transformation Map,
so you have an idea of the investment it takes
to actually execute on your strategy.
The next you have to do is for each and every one
of the projects in your Transformation Map,
you have to create a page or what ever you feel like,
where you make sure you describe what is the purpose
of this project, what is the sum of project it's a part of,
what is it depending on, when do you have to start it,
when do you finish it, and what is the costs?
Now, you've done your groundwork
for your projects and for your execution.
The most important thing for you is to take each
and every project and further break it down
into a map or into a table with, for these specific
small elements of the project, who does what, by when?
I know this sounds extremely simple
and it is extremely simple, you need to make for each
and every part of your projects,
who does what and when is it done?
If you do not do this, nobody knows when they're supposed
to do what and what to expect from them,
but unfortunately, this is not enough.
But you have to do it, this is first step,
Transformation Map, projects, who does what, by when.
Next is, the Key Performance Indicators, the measurements.
You probably heard this many times,
if you don't measure it doesn't get done
or you get done what you get measured, same here.
So if your projects, who does what by when,
you will have to break it down into measurable items.
That can be, this has to be done by this
and this has to be done by then,
or we have to increase customer satisfaction by this
or we have to make sure that the price level
doesn't go anywhere, so the price level have to be stable.
These are the indicator that the who's, who does what when.
The who's, they get measured by
throughout the strategy period.
So throughout the strategy period,
monthly, weekly, what ever depending on your indicator.
You'll have to sit with a team
and see where are we on these indicator.
You have to understand if you're not
on target, what do you need to do now?
You're an hour late, if you're not on target.
So you can't postpone this, what has to be now
to correct it and bring us back on target?
These are the simple things that
you have to do to execute a strategy.
If you're the executor of the strategy
or the executor of a share of the strategy,
one of the projects, it can only be your responsibility.
It can only be you who call for the meetings,
who makes sure you hold people responsible
for the project that they're running,
that you look at the indicators
that you discussed with the people.
Why are we not there, what did you do right to meet it?
How can we others learn from this?
If there's any correction of actions
that has to be done, you're the one who have to initiate it,
talk to the team, what are we doing here?
It's easy and fun the first couple of months,
but after a couple of months, yeah,
you get hit by being busy, and this is where
most strategies they fail because then
it's not interesting, it's not fun anymore.
Maybe even top management, they lost attention
because they also get busy and if you do this
and you lose that focus on the execution,
everything that I have said in Volume 1, 2A, 2B,
and 3 here, it's just void, forget it.
If you don't make sure that every week, every month,
you have these team meetings where you hold
people accountable and responsible for the who does what,
by when in their projects and the indicators
that you've shared with them, you're not gonna go anywhere.
It sounds extremely simple and
you know, it is extremely simple.
The difficult part here is to keep the momentum,
to make sure that you count for these meetings,
to make sure that you hold people responsible.
If you're able to do that and you've done
your groundwork, your footwork, and your preparation,
like I talked about in the other Volume,
if you've done that, you're good to go and your strategy
will be a success, simple, but very difficult.
I hope you liked this one, give it a big,
big like if you did, if you haven't
subscribed already make sure you do so, please.
If you're already a subscriber, thank you very much.
Make sure that the little gray bell
is turned on so you get notifications.
Maybe there is a Volume 4 coming up, you never know.
Thank you very much for watching,
and I'll see you later, bye.


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