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Strategic and International Management > 10 > Flashcards

10 Flashcards

1
Q

What is strategy execution?

A

Strategy execution is a disciplined process or a logical set of connected activities that enables
an organization to take a strategy and make it work.

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2
Q

What are Kooter’s 4 core change principles?

A
  • Management + leadership
  • Heads + hearts
  • have to + want to
  • select few + diverse many
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3
Q

What is management + leadership?

A

Management:
- stability and predictability.
- planning and budgeting
- organising and staffing
controlling and problem solving
Leadership:
- speed and innovation
- establishing directions
- aligning people
- motivating and inspiring others

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4
Q

What is heads + hearts?

A

Heads:
- speaking to the “heads”
- providing rational reasons i.e. the “what” and “how”.
Hearts:
- speaking to the “hearts”
- dressing emotions i.e. answer the “why”

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5
Q

What is have to + want to?

A

Have to:
- mandatory change
- approach does not lead to sustainable change
Want to:
- Voluntary change
- people that feel involved in the change process will strive for improvements
- what promotes “want to” is different for different people

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6
Q

What is select few + diverse many?

A

Select few:
- few change agents to steer the change efforts
Diverse many:
- true change only happens when change efforts are supported by a change network.

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7
Q

What are Kooter’s 8 steps for leading change?

A

Create a sense of urgency, build a guiding coalition, form a strategic vision, enlist a volunteer army, enable action by removing barriers, generate short-term wins, sustain acceleration, institute change.

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8
Q

What is create a sense of urgency?

A

Communicate why the change is needed in a way that inspires people to act.

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9
Q

What is build a guiding coalition?

A

Create a strong coalition of committed people to guide the change process.

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10
Q

What is from a strategic vision?

A

Create a clear description of the future and clarify how this will become reality.

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11
Q

What is enlist a volunteer army?

A

Ensure that those who are affected by the change want to actively contribute.

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12
Q

What is enable action by removing barriers?

A

Remove obstacle that slow things down or create roadblocks to progress.

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13
Q

What is generate short-term wins?

A

Specific small and large wins must be recognized, collected, and communicated.

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14
Q

What is sustain acceleration?

A

Use the momentum of success to continue to win people over to the change process.

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15
Q

What is institute change?

A

Make sure that new behaviors continue until they replace old habits.

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16
Q

What are the keys to successful strategy execution?

A
  1. Effective leadership and decision rights.
  2. Clear communication and information flows.
  3. Sufficient and efficient resource allocation.
  4. Leveraging best-practice execution instruments.
  5. Continuous adaption and organizational agility.
  6. Continuous monitoring of strategy execution success.
  7. Instilling corporate culture that promotes strategy execution.
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17
Q

What is effective leadership and decision rights?

A

Exercising strong leadership to drive execution forward.
Clear assignments of responsibilities.
Everyone has a good idea of the decisions and actions for which he or she is responsible.
Empowerment of subordinates.
The primary role of corporate staff is to support the business units rather than to audit them.

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18
Q

Regarding effective leadership and decision rights, what are the operating decisions that managers up the line get involved?

A
  • Commitment of top management
  • Involvement of middle managers
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19
Q

Regarding effective leadership in strategy execution, what are the 4 levers of influence?

A

Role modelling, fostering understanding and conviction, developing talent and skills, reinforcing with formal mechanisms.

20
Q

What is the RAPID framework?

A

Recommend, agree, perform, input.
Recommend a decision or action.
Formally agree a decision.
Be accountable for performing a decision once made.
Provide input to a recommendation.

21
Q

What are the decision role pitfalls?

A
  • Ensure that only one person “has the D”. If two or more people think they’re in charge of a particular decision, a tug-of war results.
  • Watch for a proliferation of “A’s”. Too many people with veto power can paralyze recommenders. If many people must agree, you probably haven’t pushed decisions down far enough in your organization.
  • Avoid assigning too many “I’s”. When many people give input, at least some of them aren’t making meaningful contributions.
22
Q

What are the drawbacks of top-down execution?

A
  • Risk of unraveling after a strong CEO departs – delegation and empowerment are key.
  • Leaders who are closest to the situation can respond most quickly and are best positioned to make tough calls.
  • Frequent and direct intervention from top executive encouraged middle managers to escalate conflicts rather than resolve them.
  • If top executives insist on making the important calls themselves, they diminish middle managers’ decision-making skills, initiative, and ownership.
  • But although execution should be driven from the middle, it needs to be guided from the top.
23
Q

What is communication?

A

Communication is what execution is all about.
Communication of a “need for change” to create a sense of urgency.

24
Q

How can we implement information flows?

A

Installation of information systems that enable employees to carry out their strategic roles proficiently.
Quick information flow to headquarter.
Free information flow across organizational boundaries.
Field and line employees have the information they need to understand the bottom-line impact of their day-to-day choices.

25
Q

What are the three elements of communication?

A
  • we need to sustain
  • we need to stop
  • we need to start
26
Q

What is the vision communication?

A
  • ETHOS
  • PATHOS
  • LOGOS
27
Q

What is ETHOS?

A
  • Personal anecdotes
  • company past
  • success stories
  • track record
    Credibility.
28
Q

What is PATHOS?

A
  • future
  • stories
  • anticipation
  • motivation
  • action
    Emotion
29
Q

What is LOGOS?

A
  • arguments
  • facts, figures, data
  • scientific research
  • product characteristics
    Logic.
30
Q

What is the difference between communication and understanding?

A

The amount of input is not important, but how well key leaders understand what has been communicated.

31
Q

What is research on effective communication approaches?

A
  • References to current strategy and organizational identity can facilitate the execution of a new strategy.
  • Additive change strategies: use of analogies.
  • Substitutive change strategies: use of metaphors.
  • Use of strategic principles and simple rules provide guidance while empowering employees.
32
Q

What is deep-dive?

A

The power of “simple rules” in strategy execution = straightforward statements that are easy to communicate and create boundaries for decision making-

33
Q

What are the advantages of deep-dive?

A
  • Limitation of available problem and solution formulations
  • Enable established organizations to cope with high internal complexity
  • Increased efficiency of strategy execution process
34
Q

What are the disadvantages of deep-dive?

A
  • Subject to risk as simple rules are based on experiences
  • Idiosyncratic
35
Q

What is sufficient and efficient resource allocation?

A

Direction of resources to the right places.
Strategic planning forces trade-offs between competing resources. Discuss resource deployments early in the process.
Link resource allocation to long-term strategic priorities.
Assure coordination of resources across departments.

36
Q

What is the myth of the power of bottom-up processes?

A
  • The strategic intent guides effective resource allocation.
  • Top-down budget allocations assures for efficient resource allocation.
37
Q

What is the truth about the power of bottom-up processes?

A
  • The structural context and autonomous middle manager behavior may lead to timely and effective changes in resource allocation efficiency.
38
Q

What is the six sigma?

A

Is a process-based framework for strategy execution and continuous organisational improvement.
Control, define, measure, analyze, improve.

39
Q

What are the four perspectives of the balanced scorecard?

A
  • Financial
  • Internal business process
  • Learning and growth
  • Customer
40
Q

How do the balanced scorecards help translate vision to action?

A
  1. It’s a top-down reflection of the company’s mission and strategy. - Bottom-up measures are often irrelevant to the overall strategy.
  2. It’s forward looking.
    - Addresses future and current success.
    - Traditional measures only describe how the company performed during the last
    reporting period.
  3. It integrates external and internal measures.
    - Highlights where trade-offs between performance measures were made in the past.
    - Helps to ensure that future success on one measure does not come at the expense of
    another.
  4. It helps to focus.
    - Requires managers to reach agreement on only the most critical measures
    - Usually focuses on 15-20 custom-designed measures
41
Q

What is coordination across units?

A
  • Most companies have effective processes for cascading goals downward in the organization, but are often unable to manage horizontal performance commitments.
  • Execution =/ alignment
  • More important: activities need to be coordinated across units.
  • A failure to coordinate can lead to conflicts between functions and units.
42
Q

What is consistency of change initiatives?

A
  • Organizations typically engage in multiple change initiatives simultaneously.
  • Employees assess consistency of change initiatives:
    o Cognitive inconsistencies o Procedural inconsistencies o Normative inconsistencies
  • Inconsistencies trigger:
    o Emotional reactions
    o Social sharing activities (challenging, reproaching, distancing)
  • Overall, lack of consistency among change initiatives can cause:
    o Collective (dis)engagement
    o Change underperformance
43
Q

What is the strategy loop?

A

Make revisions, make sense, make choices, make things happen, discuss.

44
Q

What can improve stagey execution?

A

New creative solutions and unexpected opportunities.

45
Q

What are the impacts of an excessive performance culture?

A

An excessive performance culture can bring execution success at risk.
Culture that supports execution must recognize and reward qualities that support strategy execution, for example:
- Agility
- Teamwork
- Ambition
Many corporate cultures fail to foster coordination, which is essential to execution.

46
Q

What is corporate culture that promotes stagey execution?

A

Arouse enthusiasm for the strategy.
Institute policies and procedures that facilitate execution strategy. Build consensus on how to proceed.
Preventive measures against change barriers.
Respect different characters.
Emphasize teamwork activities.

Strategic and International Management (10 decks)

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