Magic of execution
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This document discusses the importance of execution through establishing widely important goals (WIGs), lead and lag measures, dashboards, and accountability systems. It emphasizes that execution often fails due to a lack of clarity on goals, understanding of tasks needed to achieve goals, performance tracking, and accountability. Key elements include setting 1-3 WIGs per department aligned with corporate strategy, using lag measures to track goal achievement and lead measures to monitor progress, creating dashboards to visualize performance, and implementing weekly accountability sessions to review progress and plan next steps.
Magic of execution
- 2. Table of contents • Introduction • Widely Important Goals (WIGs) • LAG Measures • LEAD Measures • Dashboards • Accountability – Time Matrix – Work Compass – Weekly accountability session
- 3. Introduction (1-3) • Great organization – Superior performance & Operations – Customer Loyalty – Winning Culture – Distinctive contribution
- 4. Introduction (2-3) • HOWWW…….???? – Great people – Great Leadership – Discipline in execution
- 5. Introduction (3-3) • Why do we always fail in execution…..? – People don’t know the Goals. – People don’t know what shall they do to achieve their goals. – People don’t keep score. – People aren’t hold accountable.
- 6. Widely Important Goals (1-4) Corporate strategy & Goals Department Goals Section goals and objectives Goalsshouldbeinsideyourinfluencezone • WIGs are 1 - 3 goals that contribute with big share in achieving the department goals thus the corporate strategy • WIGs are measured using LAG measures
- 7. Widely Important Goals (2-4) • WIGs should have at least one of the following characteristics (WIGs Types) – Organizational directive … Direct – Desperate Need … Stabilize – Gap closure ... Normalize – Bold vision ... Optimize
- 8. Widely Important Goals (3-4) WIG Fin & Oper excellence Customer Loyalty Winning Culture Distinctive contribution SUM 1- ….. -1,0,1,2,3,4 -1,0,1,2,3,4 -1,0,1,2,3,4 -1,0,1,2,3,4 2- ….. 3-Generate 300 M 3 4 2 4 13 4- ….. 5- ….. 6- ….. WIG Builder
- 9. Widely Important Goals (4-4) • Revenue Growth or Improve Cash Flow • Improve core processes or Reduce cycle time • Reduce cost • Increase market share • Improve service level & quality Financial and Operational Excellence • Increase number of customers recommendations • Exactly meet customer needs • Generate repeat business • Improve overall customer performance Customer Loyalty • Ignites passion and energy of our people • Attract and retain industry - leading talents • Leverages knowledge, skills and ability of people • Build internal loyalty and trust Wining Culture • Support organization vision and mission • Increase brand strength • Drives innovation • Strongly differentiates from competition • Favorably impacts the community Distinctive Construction
- 10. LAG Measures Builder (1-3) • LAG measures uses to measure the WIG achievements at the end of the overall WIG period. • LAG Measures C/S • Measure goals achievements • Easier to measure • Longer • Harder to Influence
- 11. LAG Measures Builder (2-3) From X to Y by when WIG (……………………) No intended consequences Difficult to manipulate Truly achievable Data availability Rank Current value Desire value By when Y ? N Y Y Y: Yes N: No ?: don’t know
- 12. LAG Measures Builder (3-3) WIG writing format should be Verb …….. By …….. Activity …… Measure, X to Y ……. by When Ex: Generate 300 M of new revenues by providing B2B solution by end of Q.4 2014 WIG with LAG measure Writing CorporateWIGwithLAG Measure WIGs and LAGs Measures for Dept. (1) WIGs and LAGs Measures for Dept. (2) WIGs and LAGs Measures for Dept. (3)
- 13. Lead Measures (1-2) • Using LAG measures only will not give you any chance to modify or correct your work way and strategies over short period of time. • Lead measures are activities should be measured on shorter period to give us chance of more control. • Lead measures have the following C/S • Harder to measure • Shorter • Easier to influence • Predicts goals achievements
- 14. Lead Measures (2-2) • Lead measures tell you if you are likely to achieve your goals …. Predictive technique • Lead measure should have direct LOS with WIGs • Lead measure format should be same as WIG • To identify the measures do the following • Identify your barriers • Check your pocket of excellence • Brilliant & Creative 20%ofactivitiesalwaysleadto80%ofresults
- 15. Lead Measures Builder WIG : ……………………… Barriers Pocket of excellence Brilliant & Creative Put barriers and activities to fix them One of those solutions might be solution to one or more of the barriers WIG : ……………….. Predictive Influencable Data availability RankCandidate activities Candidate measure 1- ……. Y 2- ……. N 3- …… ? 4- ….. N • Lead measures should be in tight time space.
- 16. WIG and LEAD measures relation WIG …… Lead Measure (1) Lead Measure (2) Lead measure (3) YourtodolistshouldreflectsongoalsbothLeadandlag
- 17. Dashboard Dashboard should be • Motivating • Simple • Updateable • Complete • Accessible Dashboard might take many shapes • Faces • Charts • Counters • Thermometers DashboardshouldshowsthedifferencebetweenXandY
- 18. Accountability • Create a cadence of accountability which is a recurring cycle of planning and accounting for results • To execute your WIGs you need Rhythm of • Planning • Follow up • Reporting
- 19. Time Matrix MaximizetimespentonyourEIGs • Eliminate Quadrants III & IV • Minimize Quadrant I
- 20. Work Compass • Technique used to define weekly tasks and objectives must be done to move the dashboard • This compass should be filled in preparation to WIG follow up session • Plan tasks and objectives that are listed in compass before any other tasks …. Use work planner to list all your tasks
- 21. Weekly accountability session (1-2) • Why do we need it ….? • Account for performance • Teams • Individuals • Team commitments for last week • Review dashboard to know where do we stand • Plan how to move the dashboard during the coming week • WIG sessions are highly focused planning and accountability meeting for staff or part of them • Participant should be directly responsible on WIG, LEAD measure achieving Account ReviewPlan
- 22. Weekly accountability session (2-2) • Session analyzer should be done before the meeting answering the following questions • Who • How often • When, where and how long • It might be less frequent • End of sessions tasks should be recorded with owners along with decisions and very important notes you make Team WIG/Lead Measure Who When Where Duration
- 23. Thank You