Flip a Coin:

1. Flip a Coin: Bridging the Gap Between… Strategy Execution

2. Introduction Business Consulting Analyst for Nationwide Financial and has been with the company 14 years; currently supporting NF Digital & Distribution applications, capabilities, and processes. Responsible for providing thought leadership to enable realization & delivery of Business & IT strategies across multiple applications and business units. 

3. Myths re: Strategy “We don’t need a new strategy to fix our performance; we just need to execute the one we have.” Planning solves everything We can never deviate from the plan Perfect planning yields perfect execution Strategists do not have to be involved

4. Myths re: Execution “You don’t win by having a better strategy; you win through superior execution.” Getting things done means progress Who cares as long as we deliver Strategy is out of touch with reality

5. Strategy vs Execution Total US National Debt = JP Morgan Chase Total Assets = ~$17 Trillion ~$2.5 Trillion That could pay for ~12.5% of the total debt!

6. Strategy vs Execution “I’d rather have a first-rate execution and second-rate strategy any time than a brilliant idea and mediocre management.”  - Jamie Dimon; CEO of JP Morgan Chase

7. If life were a movie

8. Let’s discuss Shared characteristics of Strategy and Execution New perspectives and considerations to address challenges Key Insight: Bridging the gap does not occur without: Expectations Transparency Communication

9. Same starting line “Vulnerability is the birthplace of innovation, creativity, and change” – Brene Brown; author, speaker & research professor at the University of Houston

10. Strategy Defined

11. Strategy Defined “…Figuring out something in advance and making a thoughtful plan to do it…” – Bruce Mau , renowned designer

12. Strategy Characteristics Strategy is comprised of… • Insight = Knowledge of why to do something • Direction = Guiding how to do something • Motivations = Reasons for doing something

13. Execution Defined

14. Execution Defined “…a systematic way of exposing reality and acting on it.”  Larry Bossidy; retired CEO and Ram Charan; renowned management consultant

15. Execution Characteristics Execution is comprised of… • Experience = Practice doing something • Alignment = Coordinating doing something • Commitment = Trusting in something

16. Different sides You acquire knowledge through practice Insight is formed through Experience Insight & Experience • Knowledge • Practice

17. Different sides You are unable to guide with coordination Direction is enabled through Alignment Direction & Alignment • Guiding • Coordinating

18. Different sides You are unable to trust without the right reasons Motivations are strengthened through commitment Motivations & Commitment • Reasons • Trust

19. Same Coin Insight & Experience Strategy & Execution Direction & Alignment Motivations & Commitment

20. Bridging the gap Principles of success in Strategy & Execution: Expectations Transparency Communication

21. Expectations Are not…

22. Expectations All about perspective “We don’t see things as they are, we see things as we are…” – Anais Nin; author

23. Expectations Must have… Consensus even with conflicting goals Clear & concise message Understanding Goal, Value and Benefit

24. Expectations Examples… Not so well Pretty well

25. Transparency Is not…

26. Transparency Simplify the complex “Complexity is the enemy of clarity.” - Andy Stanley; pastor, author and speaker

27. Transparency Must have… Coordination Accountability & Responsibility Process with the people & technology to support

28. Transparency Examples… Not so well Pretty well

29. Communication Is not…

30. Communication Truly listen “Most people do not listen with the intent to understand; they listen with the intent to reply.” Stephen R. Covey; author, educator, speaker and businessman

31. Communication Must have… Collaboration Trust Conflict Resolution

32. Communication Examples… Not so well Pretty well (maybe)

33. Expectations Without communication Coordinated without momentum… Only the “easy” gets done Promises without delivery Failure to progress Transparency

34. Expectations Without Transparency Buy in without coordination… Competing for resources Failure to agree to deadlinesand/or ways of working Communication

35. Without expectations Cooperation without purpose… Everyone heading in different directions Teams going nowhere fast Running in circles Transparency Communication

36. Building the bridge! Execution Strategy Communication Expectations Transparency

37. Top 10 Considerations It’s alright to disagree…embrace it Change the mindset…not the reasons why Keep asking why… Enable the ability to envision the potential Don't be afraid to question the way it is Adjust the culture, but don't jump without a parachute Remove the fear of failure and the perception it creates Telling is not Leading! People buy in to the individual before they buy in to the vision We respond to the environment we are in Expectations Transparency Communication

38. What did we discuss Shared characteristics of Strategy and Execution New perspectives and considerations to address challenges Key Insight: Bridging the gap does not occur without: Expectations Transparency Communication

39. Thank you! Contact information… Corwin Smith smithc42@nationwide.com Office: (614) 677-1598 Cell: (614) 289-8898