Archives For competitive advantage

This week, I am going back a bit to dive deeper into strategy – actually, the execution of strategy – because I was reminded, yet again, of how much time and effort companies spend in developing and refining corporate strategies. Most often, only to find themselves overwhelmed while struggling to translate strategy into an effective operational plan that will facilitate long-term success.

Frequently, organizations strain even more when it comes to prioritizing and executing these plans. I have lost count of the number of executives I have spoken with that firmly believed they had winning strategies, yet those strategies never delivered the game-changing results that the leadership team thought they would. Failure to deliver on strategy is a pervasive problem in business today – studies consistently show that 60 to 80 percent of companies fail to successfully implement and secure the success they anticipated in their strategic plans. The ability of a company to effectively execute strategy and achieve long-term adoption remains sporadic, at best. The fact remains – there is an enormous gap between strategy and execution.

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Mind The Gap

August 9, 2022 — Leave a comment

The phrase “Mind The Gap” was introduced in 1969 by the London Underground to warn passengers of the gap that exists between the train door and the station platform.  Today, it is used as a warning by transit systems worldwide. Just as it is important for passengers to “Mind The Gap” to prevent injury, it is equally important for organizations to “Mind The Gap” so they do not fall into the traps that will keep them from moving forward. Specifically, organizational culture in a global organization is extremely complex and fraught with many potential chasms.

It’s interesting that people think differently, having different concepts of time, space, work, etc., however it is critical to do more than simply notice differences. If we’re not careful to appreciate and value those differences and the contributions that diverse people bring, it is easy fall right into that gap! This may result in waning business results, the degradation of important relationships, the sacrifice of your own success, and ultimately – grave injury… or even death!

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Virtual Success

June 1, 2022 — Leave a comment

Today, in many organizations, a significant amount of work is done virtually. Even in the most provincial of firms, it is rare to find all team members in a single location. Companies frequently choose people from across various global locations to work virtually in an effort to leverage expertise, as well as to save both time and money. With the advent of worldwide crises and events like global pandemics, the context of work is accelerating even more rapidly.

The structure of global business is moving away from traditional hierarchical multinational enterprises to more flexible international arrangements. It has been suggested that organizations will become more flexible, as well as learning and innovation-oriented, and will be realized through the expansion of global virtual teams (GVTs). These multicultural virtual teams provide diverse skill sets, and members’ diverse proficiencies can be leveraged to improve organizational outcomes. As a result, organizing work in GVTs has become the modus operandi. Team members are globally dispersed and heterogeneous across multiple dimensions. Global virtual teams span multiple countries, time zones, cultures, and languages – and they often rely on communication technology rather than face-to-face interaction. GVTs can be seen as catalysts for new forms of organizing, or perhaps even as organizational forms in themselves, changing traditional ideas about organizational boundaries.

The business justification for virtual teams is strong: they leverage expertise and vertical integration across the organization to make resources readily available, as well as increase the overall speed and agility of the organization. In addition, virtual teams draw talent quickly from various functions, locations and cultures. They reduce the disruption to people’s lives because travel becomes less of a necessity and team members can both broaden and deepen their perspectives (and their careers) by working across boundaries and borders on a variety of projects and tasks.

As a leader of virtual teams, your main goal should be to leverage your human capital to its utmost – as quickly as possible.  

Beware: How you choose to manage this process may be the difference between success and failure

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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. Continue Reading…

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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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Let’s talk about what it means to work Across Boundaries…. because the reality is that it can mean many things to many people.  In my world, working across boundaries is about lateral thinking… really comprehending that you are a single piece of a much larger puzzle and that your piece has a significant impact on the larger whole. It also means having the capacity to move across those boundaries to absorb knowledge from one context or discipline and apply it back into your area of expertise to create a free-flow of information – increasing your knowledge and the potential to “create a better mousetrap”. Think Leonardo DaVinci:

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Working across boundaries, more than anything else, means working together to solve problems that cannot be solved ~ or easily solved ~ by a single person, department or business unit.  It is critical that you, as a leader, consider (and learn from) the overall system and expect every person across every department to work together to figure out how to improve the overall experience for customers both internally and externally – the rest will naturally follow. The reality (whether you want to acknowledge it or not) is that you are part of a system… a network… an interconnected structure involving many people and multiple linkages.  Without each component part of the whole, there is little to offer the customer… or the market. Continue Reading…