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Management Execution

Management Execution. The Eight Components of Management Execution. Organization Resources Policies & Procedures Continuous Improvement Systems Rewards & Incentives Culture Leadership. Staffing the Organization—Building Managerial Talent.

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Management Execution

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  1. Management Execution

  2. The Eight Components of Management Execution Organization Resources Policies & Procedures Continuous Improvement Systems Rewards & Incentives Culture Leadership

  3. Staffing the Organization—Building Managerial Talent • Assembling a capable management team is a cornerstone of the organization-building task • Find people who can “make it happen” • NETWORK AND COOPERATE – partners and fellow travelers are your friends! • Provide promising team members with skill-stretch assignments • Strive to retain high-performers via career path development and compensation • Coaching average performers to improve their abilities Empower

  4. Allocating Resources to Strategy Critical Activities • Allocating resources in ways to support effective strategy execution involves • Funding projects that hold promise, while turning down those that don’t • Providing the proper amount of funding to support new strategic initiatives • New strategies call for the reallocation of resources A2 (Events vs. Licensing)

  5. Instituting Strategy Supportive Policies and Procedures • Policies and procedures facilitate good strategy execution by: • Providing top-down guidance regarding how things need to be done • Enforcing consistency in how strategy-critical activities are to be performed • Promote a work climate that facilitates good strategy execution MD (Deliverables & Contracts)

  6. Striving for Continuous Improvement in Internal Processes • Searching out and adopting best practicesis integral to effective implementation • Benchmarking is the backbone of theprocess of identifying, studying, andimplementing best practices • Expose yourself to new ideas/colleagues/ companies/industries/academia PwC MD

  7. Installing Information and Operating Systems • Good information and operating systemsare essential for first-rate strategy execution • Information systems are needed to track and report: • Customer data • Operations data • Employee data • Supplier data • Financial data RHMR (CRM) Bertelsmann (SAP) • The critical importance of having a “tech geek” on the team • Online “virtual tech geek” resources

  8. Using Rewards and Incentives • Reward systems should include both monetary rewards and non-monetary rewards PwC Monetary • Base pay increases • Bonuses • Profit sharing plans • Stock options • Piecework incentives Non-Monetary • Praise and recognition • Stimulating assignments • Autonomy • Rapid promotion

  9. Corporate Culture • A corporate culture or work climate is the product of work practices and behaviors that define • “How we do things here” • Approach to people management • The chemistry of its work environment A2 MD CRSI dock11.com

  10. Leading the Strategy Execution Process • Managers at all levels of the organization must: • Stay on top of what is happening • Be adept in determining what problems lie in the path of operating excellence • Push the organization for good results and operating excellence “Feel the vibe” MBWA Solve Problems Inspire

  11. Management Execution – Example (T-Shirt Company) • Organization • Focus on word-of-mouth thought leaders as partners for initial UC campus phase • Consider bringing on partner(s) for expansion to other campuses • Resources • Get input from Adam Campos on key resources (T-shirt production equipment)? • Later resource investments may involve marketing capabilities as well

  12. Management Execution – Example (T-Shirt Company) • Policies & Procedures • Order, delivery, and payment terms with customers • Liability issues (flammability, allergies, etc) • Continuous Improvement • Advice contacts • Trade association/trade journals • Networking

  13. Management Execution – Example (T-Shirt Company) • Information Systems • Initial focus on technology team member and basic office setup • Mid-term focus on inexpensive, scalable ERP system • Rewards & Incentives • Initial focus on “win-win” situations for partners and fellow-traveler firms • Initial focus on equity for key personnel

  14. Management Execution – Example (T-Shirt Company) • Culture • Focus on camraderie by: • Making sure the interests of all key personnel are addressed • Finding regular weekly time for all key personnel to meet and work together • Leadership • Initial focus on frequent communication with all partners to identify/address problems

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