Archives For Executive Coaching

While COVID-19 rules may suggest a six foot gap is a good idea… not true when talking business strategy.  I was in a meeting with a senior executive recently, when he shared his concern that the processes and approaches the company is using to develop the corporate strategy may not take the business forward as planned, but backward. As we discussed his challenges, there were some key gaps that the organization was likely to fall into that could easily be avoided with a strong planning process. So, here are a few of the more prominent reasons organizations fall into the strategic planning gap…How many of these are evident in your business?

Reason Number 1: Lack of leadership engagement

One important reason behind a company’s inability to create a visible and viable strategy is that, frequently, key senior leaders are not appropriately engaged in the development process. This frequently means that critical success factors are not considered, priorities are unclear, and incomplete strategies are developed. Leaders must engage in the process to understand how the gears of the business engage – how their domain aligns to and fits with the other critical pieces within the corporation.  Critical insights and knowledgeable contributions regarding all aspects of the business will provide the pivot point for the strategic planning process – key decisions emerge from a compilation and understanding of diverse leadership perspectives. Companies often believe that strategic plans can be developed in one or two day strategic sessions – this is simply not true. Strategic planning is a dedicated process that is developed over a period of time with all senior leaders engaged and participating – not to mention, an ongoing process that drives the ability to stay ahead of the competition.  Without a strong process for engaging leaders and formulating strategic plans as a unit, companies often end up with plans that are meaningless from a strategic point of view.

Reason Number 2: Leaders lose sight of the difference between strategy and planning

Very often I come across companies that confuse strategy with planning.  The annual financial and operating planning process drives many corporate strategy exercises – which is a backward premise. They are different activities and should be treated as such: strategy is about developing a framework that drives future actions and decisions; planning is about resource allocation. Critical strategic decisions don’t fit within the annual planning timetable, and neither should the strategy development process. When strategy and planning combine, the plans thrust upon the organization are anything but strategic in nature. Upon closer examination one may find that these plans are (at best) a collection of tactical plans targeting operational efficiency – operational efficiency IS NOT by it’s nature strategic.

Reason Number 3: Too much data, too little insight vs. too much insight, too little data

Few companies have a structured process for scanning the environment and observing emerging trends. There is either an information drought or an overload of information – generally, there is no middle ground. When there is information, often companies do not know how to draw any strategic meaning from it. In the absence (or lack of usability) of relevant data, assumptions are made that may not reflect the reality of the environment, which means a rapid decline in credibility and relevance of the strategic plan. While it is definitely not advisable to engage in paralysis  by analysis – it is important to gather as many facts as you can, within a limited amount of time, apply what you know, and move forward with a decision.  It is key insights based on the information you have (depending on risk factors, often 70% is good enough), not excessive data, that will drive a successful strategy.

Reason Number 4: Insufficient alignment, commitment and communication.

When the process is structured correctly, the leadership team has invested significant time creating the strategy together. A common result is that they come to believe that the strategic intent is clear to everyone across the organization. In most companies this is far from reality, and the strategy is left to interpretation. This creates organizational misalignment, with group or divisional strategies not fitting comfortably within the whole.  The strategy process should include ensuring executive alignment and commitment is strong, but also that sufficient time and effort is spent on communicating the strategy throughout the entire organization (at every level) to ensure there is understanding, buy-in, and integration across the company. Problems often surface when there is a lack of alignment and integration – strategically, operationally and interpersonally.

As an organization continues to deliberate strategy as an abstract concept or simply a mandated process, the typical result is that strategic plans are not living documents and do not deliver the desired results. Any one of a million reasons can derail the strategic planning process. As this repeatedly occurs,  the concept of strategic planning is eroded to such an extent that the exercise is taken up just as another routine, isolated from the business purpose of the company. The strategy process should bring rigor and challenge to leadership team thinking – it should result in a strategic plan that is alive in everyone’s mind, engage community ownership and provide a driving force that guides the company steadily toward competitive advantage.

Is your strategic planning process falling into the gap of mediocrity?  Here are some potential indicators:

  • Are all of the organizational, divisional and team leaders engaged (at appropriate levels)?
  • Is there a clear understanding (and separation) of strategy and planning? Is strategic planning a dedicated, extended process?
  • Is there a good balance and perspective between data collection and business insight?
  • Do all the key players understand their place in the strategy and how it all comes together to fill the gap?
  • Is every leader, at every level, committed to the strategy? Is it a cohesive group effort?
  • Is there a strong communication component within the strategic plan?
  • Is the strategic plan a living, breathing document that everyone is working toward achieving all the time?

There is only one way to a great strategic plan –  a dedicated, integrated strategic planning process that ensures a climate of trust and the innovative business ideas of leaders.

How will you close your strategic planning gaps?

Please engage the discussion and let us know how you mind the strategic planning gaps in your organization. Please feel free to contact me at  sherilmackey@gmail.com . Check back soon for the next installment of Leadership Across Boundaries & Borders.

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Being a great leader is more than just a title – it is hard work.  It requires unprecedented levels of innovation and a commitment to the organization and its constituents, as well as the ability to continually inspire and motivate others to succeed. One key way to achieve ongoing innovation and sustainable results is through the creation of an execution culture.

You, as a leader, have an opportunity to accelerate progress in your organization through the deployment of Rapid Result Initiatives (RRI’s), which can be used to:

  • Increase current performance
  • Strengthen collaboration
  • Facilitate innovation
  • Demonstrate success in the process of executing your long term vision and mission

RRI’s are small, high-leverage, short-term projects that generate immediate impact and measurable results, while tapping into hidden capacity and building momentum to drive large-scale change – usually in 100 days or less.

Exceptional leaders understand they must calculate their steps and fully understand what they have and how to use it most effectively to continually move forward. One very beneficial way to do this is to structure your organization as a portfolio of RRI’s leading to the achievement of ultimate vision. This approach creates the opportunity to pursue strategically critical goals that deliver real impact, while  linking directly to the long term plans and objectives of the organization. Each RRI becomes a vehicle for achievement, learning, and the advancement of long term goals.

The core of Rapid Results Initiatives involves working with your teams to set and achieve small (but aggressive) goals in one or more key areas of performance. From this perspective, teams are compelled to tap into hidden reserves of capacity and energy to get the job done, taking action and testing assumptions to determine how to best achieve the desired objective on a compressed timeline. Through a succession of fast-paced, results focused initiatives, you can make remarkable gains toward major goals and objectives.

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Last week we discussed working across boundaries and implementing a systems approach. This week, I am continuing the theme with an expansion of what it means to work across boundaries and some suggestions to help you do so successfully.

Working across boundaries means many things to many people… It can mean:

… working across organizational lines

… working across supervisory or leadership levels

… working across functions

… working across corporate entities (partners, resellers, etc.)

…working across customer lines

… working across physical confines

… working across cultural differences

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This past week, I found myself in Kings Canyon and Sequoia National Park. I went with the idea that I would relax and enjoy the long holiday weekend… and I did. However, as I observed a forest with both old and new growth, I also could not help notice the trees ravaged by sickness and fire. I found myself thinking about what the forest has to teach us about business…

The forest is a global entity made up of individual components with very different characteristics, yet at the same time is very interdependent upon one another.  In business, the term “Think Global/Act Local” was originally based on the idea of customizing standardized products and services for regional consumption in accordance with the local language, currency, culture and regulatory climate. The challenge arose as we lost sight of our interdependence as a global entity. Not surprisingly, localization encourages each country of operation to develop its own customized solutions and operational procedures. This results in data silos around the world and companies operating with huge information blind spots across the spectrum – the forest can not thrive as it should. It can take weeks, even months, to collect, reconcile, translate and analyze regional performance – much less consolidate a global view of the corporate picture. As I looked around and considered this, it occurred to me that if global is seeing the forest, then local is tending the trees. With only a view of the forest as a whole, it is possible to overlook the trees that need attention. Up close, it is easy to focus on the detailed care of each tree, but lose sight of its contribution to the overall forest. Balancing both viewpoints is critical to keeping the trees in the forest healthy. Global corporations are like a forest – a sum of its parts – consistent, meaningful and effective local practices must contribute to the success of the whole. Continue Reading…

Slide1Hello All.

I realize I have not written much over the past year due to increasing business demands, as well as making the recent decision to sell our business, Luminosity Global Consulting Group. Given my incredible expedition so far, I am so excited to see and experience what comes next…

Over eight years ago, we launched Luminosity Global with the idea that we would enable executives to move toward their impossible future, while optimizing their people, process and programs on a global scale. Approximately one year ago, we were fortunate enough to have a corporate entity approach us and offer to acquire The Global LABB, our proprietary leadership platform built for Luminosity clients. Now, another year has passed and once again, we have had an amazing offer to purchase our consulting group.

As a result, I am excited to explore new opportunities and potentially move back into corporate life. While I have absolutely loved conceptualizing and seeing Luminosity grow into an incredible entity of its own, this is an amazing opportunity to pursue a new path in my career – one that will enable me to make a lasting impact on people, process and programs from a very targeted perspective. I am so incredibly excited to move into the next phase of my professional life… to see what adventure lies ahead. I feel so fortunate to have had the remarkable experiences I have had, yet I can feel the pull to move toward my own impossible future!

To each of you – never be afraid to change direction in unexpected way and go forward in the expectation that you can always become an even better version of yourself – if you give yourself the opportunity to do so!

I will continue to blog, as time permits, as I truly enjoy sharing my thoughts and insights with each of you – as well as receiving your questions and comments. Please continue to reach out with any questions or comments you may have. You can always contact me through Leadership Across Boundaries and Borders, as well as at sheri@sherimackey.com and I will always respond in kind.

Best Regards,

Sheri

As those who have been reading this blog for a while know, my passion is global business. I love to travel and interact with different people from different places.  Everywhere I go (and I have lived, worked or traveled to over 70 countries), I truly enjoy observing distinct cultures and taking away lessons learned from each place and every culture I engage with.  In

Vienna

fact, a good deal of my life’s work is based on this very concept.

This summer, while attending Board Meetings in Vienna, I had the privilege of engaging with several colleagues – global executives and academic experts – to discuss some rather interesting views relating to the differences in business perspectives between Eastern Europe and the rest of the world.  It became interesting as the various views on doing business in different regions shifted… but today, Vienna:

Vienna is a beautiful city filled with exquisite buildings, powerful opera halls, sophisticated clothing and incredible art. The Viennese people themselves, without a doubt, embody “Culture” with a Capital C. From high art to street art, from music to theater, dance to interpretive movement, architecture to fashion – it’s all there…and it’s simply a way of life.

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