Roanoke – Blacksburg Technology Council. Welcome, first- time attendees! Welcome, first- time attendees!
Post on 17-Dec-2015
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- Roanoke Blacksburg Technology Council
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- Welcome, first- time attendees! Welcome, first- time attendees!
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- New members: Accelerated Ecommerce Closergeist Harmonia Holdings Group I Build IT
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- Thank you to our Event sponsor:
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- On the Journey to Sustainable Long Term Change
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- 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.
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- 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?
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- Corvesta Operating Companies Westward Financial Group
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- 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.
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- The Speed of Growth
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- 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
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- Employee Steps to Change 14 For Change to Work, People Have to Embrace It!
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- 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
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- 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
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- 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.
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- More Tactical Steps Reward those who embrace the change. Dont tolerate those who will not change.
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- Question & Answers "When you're finished changing, you're finished." - Benjamin Franklin
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- Pivoting What is it? Strategy is Choice Playing to Win Getting Oriented Storytelling Lean Thinking and Testing PIVOTING TO WIN
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- PIVOTING: A BIG CHANGE IN DIRECTION - FOR AN ENTERPRISE - A SERVICE OR PRODUCT LINE - A PRODUCT
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- 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
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- 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
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- 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
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- 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
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- STRATEGY IS CHOICE
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- THE REAL WORLD DOES NOT MAKE CHOOSING EASY: VOLATILE UNCERTAIN COMPLEX AMBIGUOUS
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- 1. CHOOSING TO PLAY TO WIN
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- 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.
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- 2. SEPARATE THE SIGNAL FROM THE NOISE
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- INSIDE: RUTHLESS SELF-INQUIRY
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- OUTSIDE: FIND THE TRUTH WITH YOUR CUSTOMERS (NOT GUESSING IN THE COMFORT OF YOUR OFFICE)
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- 3. NO VISION, NO PIVOT SELF INQUIRY+ CUSTOMER DISCOVERY + IDEAS = VISION
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- 4. Use your vision to Think Narratively Tell the story of your new product new service New Company What Must Be true?
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- 5. ITERATE QUICKLY, CONTINUOUSLY, RELENTLESSLY
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- THE ULTIMATE QUESTION: PIVOT OR PERSEVERE?
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- WHERE DID WE WIND UP?
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- FROM: FULL SERVICE ADVERTISING AGENCY TO: DIGITAL CONSULTANCY AND PRODUCT STUDIO
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- 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
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- 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.
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- The LARGEST Technology CELEBRATION OF THE YEAR - Congratulations to our 2014 Nominees! - www.RBTCTechNite.com
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- 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
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- RBTC Annual Partners
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- Roanoke Blacksburg Technology Council
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