Presentation Transcript

1. Colfax Vision – Context For Values & CBS We are dedicated to creating an enduring premier global enterprise built on a unique business culture that……. Does all things with integrity, respect and candour Has a deep commitment to excellence to associates and customers as its foundation Is known for consistent delivery of world-class performance
2. Where Are We Headed? Group Exercise – Fill in the missing blanks! To be the world’s leading application engineer providing lifetime solutions in air and gas handling  2015 Operating profit ??% (from ??%) Sales + ??% Working Capital ?% (from ??%) Values led performance culture Values & behaviours in performance management What can you as leaders do to contribute to these goals? How will Values & CBS support you to making this contribution?
3. Values – workshop aims and objectives Aims Introduce Colfax values in the context of your business Confirm how you as leaders will live out and support the Values and behaviours Confirm your leadership roles & responsibilities in relation to upholding  & embedding Colfax Values Objectives You will gain insight into how successfully you currently role model our Values You will be able to identify behaviours that underpin and exemplify our Values in your teams You will be able to consider Values & Behaviours in relation to the PMP
4. Values – what do you think? Objective is to get you to think about Colfax’s values I am going to ask 4 questions (5 minutes per question) For each question, you need to stand in front of the appropriate Value Go with your ‘gut feel’ & don’t just follow others – own your choice! Think about why you have chosen the particular Value What do you like about it? What do you struggle with? What are the challenges facing you and the Crude & Coking Team in living out the Value? We will have a chance to share our thoughts and have a brief discussion
5. Why the mandate for Values? “when Participants demonstrate company values, company stock appreciates by 1.1percent” - Watson Wyatt “Corporate values helped save Xerox during the worst crisis in our history ……… living our values has been one of Xerox’s five performance objectives for the past several years” - Xerox, CEO Anne Mulcahy “Change may not happen overnight, however as we learn and better understand how to live these values I know they will become the true bedrock of our Company, and that Colfax will become the world class company that we all envision” - Steve Simms, President & CEO Colfax
6. Customers Talk, We Listen Maintain a constantfocus on quality and speed Create unique, value-added and differentiated solutions Execute robust,repeatable processes that consistently meet or exceed customer expectations Promote positive problem resolution Earn our customers’ business
7. The Best Team Wins Exhibit high integrity and respect for others Seek fact-based, root-cause solutions, not blame Be non-political and non-bureaucratic Demonstrate a high sense of urgency Have a strong level of accountability Strive for a safe work environment Take satisfaction in being a valued member of a winning team
8. Continuous Improvement Is Our Way Of Life Step out of comfort zone by setting stretch/breakthrough objectives Demonstrate mastery of CBS tools to help build process capability Experiment and learn every day Eliminate waste proactively and continuously in every aspect of our business processes Benchmark the best, and then better them
9. Innovation Defines Our Future Generate breakthrough ideas for technology, products, solutions and processes Provide differentiated customer solutions Create products and services that improve quality of life and environmental stewardship Deliver above market growth
10. We Compete For Shareholder Value Develop strong, comprehensive strategic plans Build effective operating plans to execute the strategic plan Drive toward absolute best-in-class results to maximize profits, working capitaland cash flow
11. We Live Our Values CUSTOMERS TALK, WE LISTEN The voice of the customer will always drive the development of our strategic plans and actions. THE BEST TEAM WINS Team-oriented, involved associates are our most valuable resource, and we are passionate about attracting, developing and retaining the best talent. CONTINUOUS IMPROVEMENT (KAIZEN) IS OUR WAY OF LIFE Set breakthrough objectives, experiment and learn every day, eliminate waste in our business processes, and benchmark the best, then better them. INNOVATION DEFINES OUR FUTURE Individual and organizational creativity will drive breakthrough ideas for technology, products, solutions and processes. WE COMPETE FOR SHAREHOLDERS BASED ON OUR PERFORMANCE To consistently attract and retain loyal shareholders, we must deliver best-of-class results for profits, working capital and cash flow.
12. Embedding Values – PMP overview Integrates theColfax Valuesinto the performance management process Reinforces our performance-based cultureby including and emphasizing achievement of individual performance objectives Establishes a consistent review process throughout all businesses
13. Values – Role Of The Leader In groups of three or four, define a short statement that describes the role of senior management in relation to embedding Values Explore what actions you might take that illustrates your commitment to developing a values led culture Describe the top three actions required to illustrate “what good looks like” in relation to your role definition (What you specifically have to do/be) Present your rationale to the other group
14. Values Led Performance Culture Brainstorm as many leadership challenges as possible that you will face in truly embedding a values led, performance focused culture Rank the top 3 challenges from the list and record on the ranking chart/decision matrix Calculate the top 3 for the group Use 5 whys to identify potential root causes Brainstorm what potential actions might be taken to resolve them and record these on must/could/should flip charts. Agree one “must do” SMART action for each challenge 
15. CBS – workshop aims and objectives Aims Introduce CBS in the context of your business Explore how you will apply CBS and its implications on how your business operates Confirm your leadership roles & responsibilities in relation to upholding & embedding CBS Objectives You will gain insight into the key CBS tools You will be able to determine how to begin to apply CBS into your business You will be able to consider how CBS will support the integration of your business into Colfax
16. CBS – What is it? Group Exercise – 10 minutes How would you describe CBS? How do you think it will make your business even better? How will CBS help your business to integrate into Colfax? What is new / what is the same with how your business presently operates?
17. CBS – What is it? It is what we do, how we do it and why we do it (the difference we make) A Consistent and Reliable track record in World Class Performance is achieved when we: Listen to the voice of the customer, responding to their needs and performance expectations, establishing measurable goals for delivering World Class performance in Quality, Delivery, Cost and Growth. Enable the best team of people to develop a solid strategic plan, supported by a disciplined process that delivers customer value. Leverage a culture of Continuous Improvement in order to continually improve against high performance targets. Apply our improvement effort to those processes and activities which are value adding and which contribute to meeting the performance standards required by our customers. Work together as winning teams to achieve these goals. THE BEST TEAM WINS CUSTOMERS TALKWE LISTEN WE COMPETE FOR SHAREHOLDERSBASED ON OUR PERFORMANCE INNOVATION DEFINESOUR FUTURE CONTINUOUS IMPROVEMENT(KAIZEN) IS OUR WAY OF LIFE
18. CBS Leadership Quotes on Culture “We have hired talent that valued our strategy but after a short time did not identify with our CBS culture and either left or transitioned.” “We have acquired businesses that are struggling to align their associates in a committed way to CBS – and their results reflect this.” “When strategy and culture clash, culture wins” – Lou Gerstner (former CEO IBM)
19. CBS Leadership Cultural Perspective The Colfax CBS culture is: an unique, sustainable competitive advantage not easily replicated The CBS concepts, tools, and values facilitate a process and results oriented culture enabled by: stretch goals disciplined execution clear accountability passion for winning We must understand the elements of the CBS culture to: drive our success provide clear and consistent communication reinforce and perpetuate the CBS culture
20. Process and Results Culture Core Leadership Elements
21. CBS Immersion for Senior Leaders Definition and Purpose What is CBS Immersion? A 4-12 week program for new senior leaders beginning the first week of employment with Colfax. What is the purpose? Immerse new hire in the tools and culture of CBS system before the leader becomes deeply engaged in their new position Rapid assimilation into the business through active participation in Kaizen events, Policy Deployment meetings, and Operating Reviews Build a network of associates across the company Understand the role of leaders in driving CBS and our values Confirm expectations going forward in position
22. CBS – Where Do We Begin? POLICYDEPLOYMENT FOCUS FOR OUR KAIZEN EVENTS STRATEGIC PLAN DAILYMANAGEMENTKPI’S VALUESTREAM MAPPING World class performance starts with the creation of a strategic plan which takes into account the voice of the customer. The approach we will adopt in delivering performance improvement will derive from one of 3 sources; performance issues highlighted by existing management KPI’s; opportunities for continuous improvement highlighted via value stream mapping activities ;and breakthrough improvement opportunities as identified by Policy Deployment. We employ the CBS toolkit and Kaizen methodology to facilitate delivery of our performance goals and ultimately the strategic plan.
23. CBS – Policy Deployment (PD) Policy Deployment( PD) is a process that facilitates the creation of: Results-Oriented Business Processes With Sustained Improvement That Result In Sustained Competitive Advantage in Quality, Delivery, Cost and Innovation The focus of Policy Deployment is not in the delivery of one off or incremental improvements to our processes but is focused on delivering, in the eyes of our customer, Significant change to our processes such that it requires the Organisation to stretch itself. It relies invariably on cross functional teamwork, thinking very differently and challenging the norm in other words engaging in “Breakthrough thinking”. The prize is characterised as “Big Wins” and process changes which are Sustainable and can achieve improved results year after year.
24. CBS – The Toolkit Using the CBS toolkit we can improve customer satisfaction, improve total business lead time and eliminate unnecessary activities and costs that do not help our customers or their business. POLICY DEPLOPMENT VALUE STREAM MAPPING STANDARD WORK 5S - VISUAL MANAGEMENT SETUP REDUCTION (SMED) MATERIAL AND INFORMATION FLOW VARIATION REDUCTION TOTAL PRODUCTIVE MAINTENANCE TRANSACTIONAL PROCESS IMPROVEMENT ENERGY REDUCTION 3P/DESIGN VALUE SELLING PROCESS
25. CBS – Applies To Everyone SALES ENGINEERING FINANCE SUPPLY CHAIN LEGAL I.T. HR MFG MARKETING
26. CBS Leadership Expectations Colfax’s growth ambition requires leaders to: Hire/acquire the best talent Assimilate talent quickly into our CBS culture Colfax holds our leaders accountable for: Ensuring their teams actively embrace CBS Creating a CBS culture and way of doing work Newly hired and/or acquired leaders must learn fast!