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How to transform strategy into action. It’s all about people!
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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A strategic plan can be a powerful thing! It has the potential to take you from where you are into your envisioned future. It can gather your forces, and help you act like one.
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Historic state
Current state
Desired future state
Still, the journey to your desired future state is not a straight line
OUTSIDE FORCES
OUTSIDE FORCES
OUTSIDE FORCES
OUTSIDE FORCES
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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REALITY
A common tool on the way is cascading group strategy top down
Corporate Strategy 3-7 yrs
Business Area Strategy 3-5 yrs
Functional Strategy 2-3 yrs
Individual Targets 1 yr
Tactical Plans 1 yr
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Will that make you part of the 30% that succeed?
Share of planned change projects meeting their targets
30%
Source: Beer & Nohria, 2000 www.inquentia.com
Share of planned change projects failing to meet their targets
70%
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“A vision without action is just a dream. Action without a vision is just a waste of
time. A vision combined with focused action can change the world.”
It starts with you! It’s time to bring out your super powers. Because what you think, say and do as a leader matter!
www.inquentia.com Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
Let’s start by paying attention to your historic success. It can distort your world view – and make you think there is no need to change direction… for yourself or for the company.
A key issue as to Michael Tushman, Harvard Business School och Charles O’Reilly, Stanford
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Think Ericsson, think Nokia…
-”The feeling was ‘the sky is the limit’. Whatever we wanted to do, we could do it. It was first class into the future. There was this feeling of being invulnerable…”
http://www.svd.se/naringsliv/investera/nara-rekordnivaer-inte-for-dessa-aktier_8554302.svd
Carl-Gustaf Leinar, ex HR Director Ericsson
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”Change has a bad reputation in our society. But it isn’t all bad – not by any means. In fact, change is necessary in life – to keep us moving... to keep us growing... to keep us interested… Imagine life without change. It would be static... boring... dull.”
Dr. Dennis O’Grady
And, what about your own feelings about change?
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Today’s organizations and processes are normally built to optimize what is already done. They are not built to handle change.
Source: Michael Tushman, Harvard Business School och Charles O’Reilly, Stanford www.inquentia.com
… and most of your team members are not waiting for you to fire the starter gun to now immediately implement all the changes you feel need to be done.
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Some may even try to escape the steady stream of initiatives coming from above.
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Anonymous team member
Anonymous manager
”Have you heard…”
”This doesn’t feel good. I’m not sure if this is something I believe in…”
”I’m not sure what this means to me…”
Anonymous team member
”I don’t care what’s going on. I just try
to do my job.”
Anonymous team member
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Five key reasons why strategic change projects actually succeed
• Active and visible sponsorship from top management. • Frequent and open communication about the need for
change. • A structured approach to manage teams and people
during the change process. • Resources budgeted for change management. • Engaged team members who are actively involved in
the change.
Source: Prosci study 2009, n=574, 65 countries. www.inquentia.com
Five reasons why strategic change projects fail
• Resistance among management and/or employees. • Inadequate leadership and communication. • Misjudging the impact of the organizational culture. • Speed of change – to fast, or to slow. • Limited understanding of what needs to get done – on
one or several levels of the organization.
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Resistance to change. Why does it happen?
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Why people resist change
There are many reasons, such as… • Different views on the initial situation • Misunderstandings • Lack of trust in management • Self interest • Low tolerance to change • Stress Copyright Inquentia Group AB and Elisabet
Lagerstedt, October 2016 www.inquentia.com
Today we experience one change after another, often with several change projects run in parallel
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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The closer change gets to me, the more stress I’m likely to feel
Me
My immediate work environment
My department
The whole organization
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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A change process is actually pretty similar to an emotional rollercoaster
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A few personal tips on the way
• Handle your own stress and change curve. • Be loyal to decisions taken. • Be proactive. Get the information you
need to act. • Communicate. Don’t just talk… listen!
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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Which are the most important communication channels?
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The three most important communication channels in any strategic change process:
1. My manager 2. My manager 3. My manager
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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With the right leadership your strategy can gather your forces, and help you act like one. It up to you to make it happen!
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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”A pessimist sees the difficulty in every opportunity… …an optimist sees the opportunity in every difficulty” Winston Churchill
Källa: www.brainyquote.com
Copyright Inquentia Group AB and Elisabet Lagerstedt, October 2016
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We are an innovative and insightful business consultancy based in Greater Copenhagen, Scandinavia.
In a world of increased ambiguity and accelerating change, we help companies identify, explore and develop strategic opportunities for innovation, growth and renewal. Always from a market and customer perspective, Outside-In.
We make sure to involve your teams to utilize their skills and develop their capabilities, resulting in ownership, action and faster implementation.
Contact us for more information on how we can help: www.inquentia.com/contact-us
About Inquentia
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About the author
Elisabet Lagerstedt is CEO and Executive Consultant at Inquentia Group AB. Elisabet has worked across a large number of categories in several competitive industries, and in multi-channel and multicultural environments. She has 20 years’ experience in qualified roles in large companies, 15 years of which where in management team level senior roles, such as Vice President Marketing, Director Marketing & Channels, Director Marketing & Sales and Business Area Manager. Her focus today is helping companies and executives powering innovation, growth and renewal from a market and customer perspective, Outside-In. Elisabet holds a Masters of Social Sciences from Lund University and executive eduction from Harvard Business School, Oxford, IMD and INSEAD. She is also a certified Board Director and ICF Coach. Elisabet Lagerstedt CEO & Executive Consultant, Inquentia Group AB Phone: +46 702677287
E-mail: [email protected] LinkedIn: se.linkedin.com/in/elisabetlagerstedt/
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