Roanoke – Blacksburg Technology Council. Welcome, first- time attendees! Welcome, first- time attendees!

Download Roanoke – Blacksburg Technology Council. Welcome, first- time attendees! Welcome, first- time attendees!

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  • Slide 1
  • Roanoke Blacksburg Technology Council
  • Slide 2
  • Welcome, first- time attendees! Welcome, first- time attendees!
  • Slide 3
  • New members: Accelerated Ecommerce Closergeist Harmonia Holdings Group I Build IT
  • Slide 4
  • Slide 5
  • Thank you to our Event sponsor:
  • Slide 6
  • Slide 7
  • On the Journey to Sustainable Long Term Change
  • Slide 8
  • Success of Change A Towers Watson 2013 survey indicated that only 25% of changes are successful in the long term. Accenture study of CEOs 50% do not believe their culture is adaptive enough to respond positively to change. 44% arent sure their workforces are prepared to adapt to and manage change through periods of economic uncertainty.
  • Slide 9
  • Need for Change - Five Ws What are we trying to solve? Aka Problem Statement Why is this important? Who needs to drive the change? When do we need to do this? Are there milestones we can measure? Where does this change need to happen?
  • Slide 10
  • Corvesta Operating Companies Westward Financial Group
  • Slide 11
  • Corvestas Story Our business strategy changed from focus on a single state single line of business to a national company with multiple product lines, multiple target customer groups Problem - Workforce, Leadership and Culture have not been addressed as key components of this change. IT Systems and Processes have not changed to support the new strategy.
  • Slide 12
  • The Speed of Growth
  • Slide 13
  • Pathway to Change Ensure the leadership understands and will actively support the change Assess the current state and identify what needs to change Design the change for the right reasons Communicate, communicate, communicate Validate what works and what hasnt and adjust
  • Slide 14
  • Employee Steps to Change 14 For Change to Work, People Have to Embrace It!
  • Slide 15
  • 5 Suggestions to Increase Odds Change Goals Must be Realistic Rolled-up-Sleeves CEO involvement Senior management has to walk the talk, not talk the walk Middle managers and supervisors need to know in their bones the reasons for the change Organization must be in it for the long haul
  • Slide 16
  • Corvestas Lessons Learned Change Done Well is (Really) Hard Pay Attention to People & Culture Be Prepared to Pivot /Be Adaptable Listen Keep Your Eye on the Prize You Will Make Mistakes Be Courageous
  • Slide 17
  • Tactical Steps Provide opportunities for employees to express their resistance without fear. Keep the change desired up front especially in stressful situations. Hire the change you want. Command Versus Consensus Build consensus where its necessary. Or Loyal Opposition/ Unity of Command.
  • Slide 18
  • More Tactical Steps Reward those who embrace the change. Dont tolerate those who will not change.
  • Slide 19
  • Question & Answers "When you're finished changing, you're finished." - Benjamin Franklin
  • Slide 20
  • Slide 21
  • 4.17.14
  • Slide 22
  • Pivoting What is it? Strategy is Choice Playing to Win Getting Oriented Storytelling Lean Thinking and Testing PIVOTING TO WIN
  • Slide 23
  • PIVOTING: A BIG CHANGE IN DIRECTION - FOR AN ENTERPRISE - A SERVICE OR PRODUCT LINE - A PRODUCT
  • Slide 24
  • A pivot is A strategic hypothesis A special kind of structured change designed to test a new fundamental hypothesis about the product, business model, or engine of growth. Lean Startup, pg. 178
  • Slide 25
  • Why change? - You Are losing revenue - You are losing key talent - Your industry has been disrupted - Black Swan Event - Something equally awful Things have become unsustainably wrong
  • Slide 26
  • Listen to your pain - Modeas from (June 2013) Never set a clear vision for the company, instead pursued what the advertising industry told us was great--being a full-service shop Attempted far too many strategic plans with countless initiatives failing before they were finished Expanded our capabilities / service offering beyond our agency size and experience Not purposeful in the projects and client work we pursued, leading us to continually do projects for the first time, every time.' Let our career development process lapse when business conditions grew tough Did not structure the business to properly empower the leaders that we put in place
  • Slide 27
  • Startup thinking good for changing grownup companies A startup: Discovers a customer Finds a business model A ReStartup: ReDIscovers and reactivates customers Redefines product, service, and Business models
  • Slide 28
  • STRATEGY IS CHOICE
  • Slide 29
  • THE REAL WORLD DOES NOT MAKE CHOOSING EASY: VOLATILE UNCERTAIN COMPLEX AMBIGUOUS
  • Slide 30
  • 1. CHOOSING TO PLAY TO WIN
  • Slide 31
  • APPLY RIGOR TO YOUR THINKING STRATEGIC CHOICE CASCADE Developed by P&G and the Monitor Corporation Quick top level view of the cascade and how it works.
  • Slide 32
  • 2. SEPARATE THE SIGNAL FROM THE NOISE
  • Slide 33
  • INSIDE: RUTHLESS SELF-INQUIRY
  • Slide 34
  • OUTSIDE: FIND THE TRUTH WITH YOUR CUSTOMERS (NOT GUESSING IN THE COMFORT OF YOUR OFFICE)
  • Slide 35
  • 3. NO VISION, NO PIVOT SELF INQUIRY+ CUSTOMER DISCOVERY + IDEAS = VISION
  • Slide 36
  • 4. Use your vision to Think Narratively Tell the story of your new product new service New Company What Must Be true?
  • Slide 37
  • 5. ITERATE QUICKLY, CONTINUOUSLY, RELENTLESSLY
  • Slide 38
  • THE ULTIMATE QUESTION: PIVOT OR PERSEVERE?
  • Slide 39
  • WHERE DID WE WIND UP?
  • Slide 40
  • FROM: FULL SERVICE ADVERTISING AGENCY TO: DIGITAL CONSULTANCY AND PRODUCT STUDIO
  • Slide 41
  • GENIUS STEALS: THE BOOKS WE READ Lean Startup The idea of the testable hypothesis, and a cadence for leaning and pivoting Playing To Win A powerful framework for asking the right questions and getting focused Understanding Michael Porter Getting to the fundamentals of where value creation comes from Good Strategy, Bad Strategy One of the most clear-eyed books on what makes a real strategy, the key to change
  • Slide 42
  • CHANGE CHEAT SHEET: Strategy is Choice Change requires a from and to. Get both. Ruthless self-inquiry is the heart of change The truth is outside your office, with your customer. Seek it Fail early, test frequently, iterate continuously Think narratively what must be true? Then make it so. If you are not playing to win, youre just playing around.
  • Slide 43
  • Slide 44
  • The LARGEST Technology CELEBRATION OF THE YEAR - Congratulations to our 2014 Nominees! - www.RBTCTechNite.com
  • Slide 45
  • Lunch & Learn: Show Me The Money TechNite Awards Banquet Pitch & Polish Tech & Toast: Regional Tech Showcase Upcoming events May June 9 20 12 www.thetechnologycouncil.com/events May 8
  • Slide 46
  • RBTC Annual Partners
  • Slide 47
  • Roanoke Blacksburg Technology Council

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