Is everyone in your business co-operating to make your strategy stick?
If not here are three simple ideas to help.
Believe. Imagine what it took to put a man on the moon. Imagine the belief it took to convince a government to fund. The scientists who believed the possibility. The engineers who believed they could build. The astronauts who believed they would live. And if not would die for it. Never in the history of humankind was such a strategic journey undertaken. This ...
A number of governments (notably those in India, California, and parts of Europe) are pushing for greater female representation in the boardroom. And several studies suggest why: Having women on the board results better acquisition and investment decisions and in less aggressive risk-taking, yielding benefits for shareholders. What’s less clear is why these effects happen.
Our research suggests one potential reason: Having female board members helps temper the overconfidence of male CEOs, improving overall decision making for the company.
We were interested in studying overconfidence because prior research ...
“We behave according the structures we are in” Jeff Lomey.
Here is an interesting idea: If we go to a night club and we go to a church, do we behave the same way? The answer is obvious, no we do not. Then why do we behave differently if we are exactly the same person? If we apply the same logic to the workplace, then why would people behave differently if the workplace structure stays the same? Clearly they probably would not. ...
“Companies that execute strategy faster will ultimately win.” Jeff Lomey.
For years I have been captivated by how consulting interventions can be quantified in financial terms. The bang for the buck. One CEO, who paid me well for the answer, wanted to know how much he got back from his leadership development programmes. The programmes ran over four years, cost tens of millions of Rands, involved six hundred executives in over one hundred teams. When I told him his return was ...
“It’s not what you do. It’s how fast you can change what you do.” Jeff Lomey.
Eighty eight percent of top executives in the Fortune 1000 companies say that “strategy execution will become more important in the future.” The executive summary (page three of sixteen) in this brilliant research article why strategy fails gives some nasty statistics which you may want to be aware of.
I started working at the age of fourteen. Earning tips packing groceries. Taking them to the customer’s ...
Action learning has proved to be the most powerful and effective way to help a leader to achieve results, accelerate learning, understand the customer eco system and build a peer network of comrades in adversity.
Learning must be greater than or equal to the rate of change
The father of action learning Reginald Revans said that learning must be equal to or greater than the rate of change. This simple idea, in the world of constant change, has the powerful effect of elevating ...
“Learning without doing and doing without learning are equally as bad when it comes to disruptive strategy execution.” Jeff Lomey
Lewis Hamilton takes the chequered flag and wins the Formula One world championship, watched by millions of fans around the world and the rest of the Mercedes race team in the pits. The race has been decided by a margin of 0.2 seconds, not unusual in this sport.
Toto Wolff the team manager, starts to think about how much faster they can ...
Strategy execution has always been the essential complement of strategy formulation. In an intensely competitive business environment and with the increasing speed of technology-enabled change, the importance of strategy implementation has increased exponentially.
Roland Pan, director of strategy for Skype, a voiceover- Internet telephony service provider, wonders whether “it is possible to have superior insights in a world where information is so open or to presage the process when the world is moving so fast.”
Companies will not necessarily differentiate themselves by their ...