Transcript Document 7671720

UNCOMMON
PRACTICE:
Strategy that works
Elikem Nutifafa Kuenyehia
July 26, 2007
ROAD MAP
•Set the context
•The Common approach
•The Uncommon approach
•Suggested approach
•Q & A
SETTING THE CONTEXT
WHAT IS STRATEGY?
“Strategy is an
approximate course of
action that you
frequently revisit and
redefine, according to
shifting market
conditions. It is not
nearly as theoretical or
life-and-death as some
would have you
believe”. Jack Welch
PURPOSE OF STRATEGY
“The essence of
strategy is not the
structure of a
company’s products
and markets, but the
dynamics of its
behaviour.”
Tom Peters
63% OF COMPANIES MISS
STRATEGY TARGETS
70
60
50
40
30
20
10
0
Failure to
deliver on
strategy
Delivering
on strategy
Research conducted by Markon Associates, Management Consultants
STRATEGY ROAD MAP
Develop
Vision
& Mission
& VALUES
Set
Objectives
Craft a
Strategy
to Achieve
Objectives
Implement
& Execute
Strategy
Measure,
Evaluate and
course
correct
THE COMMON APPROACH
THE COMMON APPROACH
•Disproportionate focus on development
•C-title driven
•Same voices….Same perspective
•Not enough buy-in
•Desktop management
•Lack of accountability
•Misalignment
THE UNCOMMON APPROACH
INTERNATIONAL EXAMPLES
•Virgin
•Google
•Starbucks
•Apple
•Marks & Spencer
•McKinsey
•Diageo
LOCAL BEST IN CLASS EXAMPLES
•Origin8
•Ecobank
•Travelking
•Unique Trust
•Tropical Cable
•Databank
•Kasapreko
•Amal Bank
THE UNCOMMON APPROACH
•People at epicentre
•Passion & Fun
•Shared vision, mission & values
•Inspired leadership
• Engaged and supportive board
•Aligned strategy
•Decisions driven by customer Insights
UNCOMMON PRACTICE
•Execution focused
•Measurement & Evaluation
•Clear trade offs & Focus on the knitting
•Dynamic……Anticipatory….Not Static
SUGGESTED APPROACH
SUGGESTED APPROACH
•Broaden the conversation
•Amplify the role of HR
•“Walk the talk”....execute!
CONSISTENT WITH WELCH’s VIEW
•Approximate course of
action
•Frequently revisit and
redefine, according to
shifting market
conditions
•Not nearly as
theoretical or life-anddeath as some would
have you believe
UNCOMMON PRACTICE?
“I used to think that marketing
was the most important
department at Starbucks.
Today, I’d say, unequivocally,
it’s human resources. Our
success depends entirely on
the people we hire, retain and
promote…..”
Howard Schultz, Founder/CEO, Starbucks
FURTHER INFORMATION:
[email protected]