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Establishing the Links Between Goals and Metrics

Building the Bridge between VULII QA and VULII Goals. Establishing the Links Between Goals and Metrics. Agenda. Establishing the charter for VULII How Institutions Create a Strategic Plan How to Achieve a Sustainable Differentiation Linking metrics with vulii goals

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Establishing the Links Between Goals and Metrics

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  1. Building the BridgebetweenVULII QA and VULII Goals Establishing the LinksBetween Goals and Metrics

  2. Agenda • Establishing the charter for VULII • How Institutions Create a Strategic Plan • How to Achieve a Sustainable Differentiation • Linking metrics with vulii goals • Plan is of no value unlesswemust execute to the plan • Finally, Putting it all together An Exercise for All of Us

  3. 1. Establishing the charter for vulii

  4. It Is Clear… • The Prime Minister has published an aggressive plan for Vietnam 2011-2020. • We enter a new strategic phase in the context of rapid changes and unexpected fluctuations. • New driving forces: • Expanding democracy in the economy • The Enterprise Law • Promoting privately-run economy • Stepping-up the SOE’s • Implementing administrative reforms Source: Vietnam Magazine, “PM highlights development strategy for 2011-2020”

  5. It Is Clear… • Tendencies • Leaping development of science and technology • Formation of the Knowledge-based economy • Environmentally-friendly technologies • Deeper globalization and connectivity Source: Vietnam Magazine, “PM highlights development strategy for 2011-2020”

  6. “Maximizing the human factor, considering the people the key resource and the target of development” • “Strongly developing production forces with increasingly high scientific and technological levels” Source: Vietnam Magazine, “PM highlights development strategy for 2011-2020”

  7. General Goals • “Striving to turn our country basically into a modern industrialized country by 2020; with stable, democratic, rule-governed, and consensual politics – society… • Three breakthroughs: • Perfect the socialist-oriented market economy • Rapidly develop human resources • Build a comprehensive infrastructure Source: Vietnam Magazine, “PM highlights development strategy for 2011-2020”

  8. Our Charter • Growth relies on applying new scientific and technological achievements and using skillful human resources and modern management skills. • The draft strategy sets the requirement of basic and comprehensive reform of the national education to increase the human resource’s quality. Source: Vietnam Magazine, “PM highlights development strategy for 2011-2020”

  9. 2. How Institutions Create a Strategic Plan

  10. Michael Porter on “What is Strategy” Let’s Start with a Short Video

  11. Terminology I Use • To gain consensus: What How Goal Strategy Program Action Required Long Term Near Term

  12. The 5 C’s Context SocialValues Rivals Technology Competitors Entrants Buyers Global FirmCompetencies Customers Substitutes Politics CoreProductAttributes Suppliers Economy Regulation Lifestyles

  13. - The Five Competitive Forces That Determine Industry Competition - Bargaining Power of Buyers Threat of New Entrants Rivalry Among Existing Competitors Threats of Substitute Products or Services Bargaining Power of Suppliers Source : Michael E. Porter, The Competitive Advantage of Nations, The Free Press, 1990.

  14. This time: Michael Porter on Five Forces Again, a short Video

  15. Fourteen Questions • What will allow us to achieve a Sustainable Differentiation? • Which of the 5C’s should we worry about and what can we do to mitigate? • Which of the Five Forces should we worry about and what can we do to mitigate?

  16. Key element of “winning the game” 3. How to Achieve a Sustainable Differentiation

  17. Distinctive Competence • Distinctive Competence is a company strength which is difficult or impossible for competitors to duplicate, imitate or match. • Competencies can be based upon: • Tangible resources • Intangible resources • Capabilities

  18. Critical Success Factors Unlike distinctive competencies, these are skills or resources necessary for survival, or to avoid suboptimal performance. Success factors can be identified by asking: • What does our customer want? • What skills do our competitors possess?

  19. Characteristics of a Strategic Resource or Capability • Has value • Is rare • Is imperfectly imitatable • No substitutes

  20. Who What How Strategic Planning andExecution Process Customer Structure Info & DecisionProcesses Task Rewards People Competencies Sustainable Advantage

  21. We Must… • Define the overall GOALS for our institutions • Define the context and the environmental issues facing our institutions • Define the forces affecting our institutions

  22. Fourteen Questions • What will allow us to achieve a Sustainable Differentiation? • Which of the 5C’s should we worry about and what can we do to mitigate? • Which of the Five Factors should we worry about and what can we do to mitigate? • What is AT LEAST 1 Distinctive Competency? • What Critical Success Factors do we need?

  23. 4. Linking metrics with vulii goals

  24. You Can’t ImproveWhat You Can’t Measure • Classic Statement: • Dr. Peter Drucker

  25. Creating the Balanced Scorecard Achieving Pro-active QA FINANCIAL GOALS MEASURES CUSTOMER INTERNAL GOALS MEASURES GOALS MEASURES INNOVATION & LEARN GOALS MEASURES Source : Kaplan, "Creating a Balanced Scorecard", HBR, Jan-Feb, 1992.

  26. Linking Strategy to Execution The Opportunity: The Strategic Management Process Linked to Organizational Performance STRATEGY 85% of management teams spend less than one hour per month on strategy issues update the strategy test the hypotheses 60% of organizations don’t link strategy & budgets Strategic Learning Loop BALANCED SCORECARD GAP BUDGET 78% of organizations lock budgets to an annual cycle 20% of organizations take more than 16 weeks to prepare a budget reporting funding Management Control Loop 92% of organizations do not report on lead indicators PERFORMANCE Input(Resources) Output(Results) Initiatives & Programs

  27. Lag Indicators Classic, after-the-fact measures Tell what you have done Lead Indicators Novel predictors of performance Allows you to see “ahead” and lead to a plan. Lag and Lead Indicators Time Lag Indicators Respond Look Behind A Process / An Event Lead Indicators Predict Look Ahead

  28. We Must… • Define the overall GOALS for our institutions • Define the context and the environmental issues facing our institutions • Define the forces affecting our institutions • We must define the overall METRICS

  29. Initial Set of Six (6) Goals • And the 14 Strategic Questions • Needed as the Foundation for • VULII Institution Strategic Plans

  30. Goal 1: Leadership Development • Goal: • Training leaders in modern and innovative institutional models that facilitate policy changes to meet requirements of national economic development and international integration by 2018. • Metrics: • Number of Rectors / Vice Rectors / Deans trained = 100% (80 – 100 total trained) • At least 25 “large” international projects funded related to leadership advancement • Many “large” domestic projects funded

  31. Goal 2: Faculty Development • Goal: • For universities, training faculty in active teaching methodology, curriculum development, and English skills reaching regional standardization (e.g. AUN, …) or ABET/CDIO compliance creating a research capacity. • For vocational colleges, the same faculty development but with the focus on creating occupational skills • Metrics: • Up to 3000 faculty in universities and vocational colleges will be trained by HEEAP 2.0 • 80% of lecturers use active teaching methods • Average IELTS score of 5.0 (or equivalent TOEFL scores) for all 1400 faculty at the universities • 80% of Engineering Curriculum achieves ABET / CDIO compliance.

  32. Goal 3: Curriculum, Labs and Infrastructure • Goal: • Establishing curriculum re-design and upgrading the infrastructure in cooperation with industry in order to improve the training quality that meets the demands of the high quality labor force. • Metrics: • 100% of curriculum is re-designed for HEEAP schools • 20% of HEEAP school budget comes from industry • 100% of courses equipped with modern equipment.

  33. Goal 4: Distance Education • Goal: • Facilitate the access of large numbers of students and solve the large class issue by offering Distance Education supporting life long learning while achieving scale economies. • Metrics: • At least one distributed education media-based networked classroom in each university by 2014. • Offer distributed, on-line asynchronous course offerings at the universities and vocational colleges within HEEAP 2.0 by 2018. • Scalable on-line course design to support 10% of courses. • E-learning system access across 80% of Vietnam • 100% of lecturers and students at universities trained to use system

  34. Goal 5: Diversity and InstructionalExpert Development • Goal: • Increase the role and participation of women in technical and engineering fields. • Metrics: • Achieve 10% female student population • Achieve 5% female faculty population by 2018. • Prepare females for university and vocational college leadership positions.

  35. Goal 6: English • Goal: • To be regionally and globally competitive by improving the English proficiency of students and faculties in Engineering and Applied Technologies. • Metrics: • For universities and vocational schools in HEEAP 2.0, by 2018 we will have the following English certificates: • ____% of students at universities we will have a TOEFL score of 500 • ____% of students at vocational colleges we have a TOEIC score of 350-400 • ____% of all Engineering and Applied Technology training programs will be conducted in English • ______ number of English-speaking exchange students and faculty

  36. The Prioritization Framework Weight Goal Programs 40% 20% 20% 15% 15% 5% All hypothetical Leadership Development Labs Distance Ed Diversity English 5-1-1 Write Proposal for … 5-1-2… 5-1-3… 5-1-4… Ultimately drawing the line of what you can afford.

  37. Exercise • ACID TEST: • Please return being able to say the following: • Which 1, 2 or 3 Goals MUST you as an institution accomplish in 2014? • “If we accomplish each of the goals and achieve each of the metrics specified in this exercise, we will MEET the expectations of Vietnam and MOET / MOLISA!!!”

  38. Fourteen Questions • What will allow us to achieve a Sustainable Differentiation? • Which of the 5C’s should we worry about and what can we do to mitigate? • Which of the Five Factors should we worry about and what can we do to mitigate? • What is AT LEAST 1 Distinctive Competency? • What Critical Success Factors do we need? • Which GOALS are to be considered? • Clearly the 6 but are there others? 7. With what strategic metrics as targets?

  39. Fourteen Question – cont. 8. What are the Strategies for the Goals? 9. What are the Programs to achieve Strategies? 10. How will you prioritize which Goals to pursue? • Highly recommend you focus on no more than 3

  40. 5. Plan is of no value we must execute to the plan

  41. The Challenge: Ability to Execute “Leadership without the discipline of execution is incomplete and ineffective. Without the ability to execute all other attributes of leadership become hollow” — Larry Bossidy Chairman, Honeywell International

  42. Why Do Organizations Struggle So Hard With Strategy? 1 in 10 organizations execute their strategies successfully Fortune Magazine, 1998 72% of CEOs believe that executing their chosen strategy is more difficult than developing a good strategy Malcolm Baldrige CEO Survey, 2002

  43. “Leaders get the behaviors they exhibit and tolerate.” Execution… a systematic way of exploring reality and acting on it • Most efforts at cultural change fail because they are not linked to improving business outcome. • 7 Essential Behaviors of Leaders • Know your people and your business • Insist on realism • Set clear goals and priorities • Follow through • Reward the doers • Expand people’s capabilities • Know yourself… (it takes emotional fortitude) • Strategic Plans – A Tool: A good strategy process is one of the best devices to teach people about execution. It makes the mind better at detecting change. - Larry Bossidy and Ram Charan - Execution

  44. The Strategic Magic Number Goal Strategy Program Task With this strategic planning structure. Number of Goals 2–3 4–10 11–20 Goals Achieved With Excellence 2–3 1–2 0

  45. Wildly Important Goals Principles Process Execution Tasks / Activities Execution:The 4 Disciplines of High-Performing Teams • Focus W.I.G.s

  46. 1. Focus on the Wigs Human beings are genetically hard wired to focus on one thing at a time with excellence

  47. Wildly Important Goals Principles Process Execution Execution Tasks / Activities Execution:The 4 Disciplines of High-Performing Teams • Focus W.I.G.s • Build Measures

  48. 2. Build Measures There is no such thing as a clear goal without a measure.

  49. Wildly Important Goals Principles Process Execution Tasks / Activities Execution:The 4 Disciplines of High-Performing Teams • Focus W.I.G.s • Build Measures • Translate to Action

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