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Roanoke – Blacksburg Technology Council

Roanoke – Blacksburg Technology Council. Welcome, first-time attendees!. New members:. Accelerated Ecommerce Closergeist Harmonia Holdings Group I Build IT. Thank you to our Event sponsor:. On the Journey to Sustainable Long Term Change. Success of Change.

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Roanoke – Blacksburg Technology Council

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  1. Roanoke – Blacksburg Technology Council

  2. Welcome, first-time attendees!

  3. New members: Accelerated Ecommerce Closergeist Harmonia Holdings Group I Build IT

  4. Thank you to our Event sponsor:

  5. On the Journey to Sustainable Long Term Change

  6. Success of Change • A Towers Watson 2013 survey indicated that only 25% of changes are successful in the long term. • Accenture study of CEO’s • 50% do not believe their culture is adaptive enough to respond positively to change. • 44% aren’t sure their workforces are prepared to adapt to and manage change through periods of economic uncertainty.

  7. Need for Change - Five W’s • 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?

  8. Corvesta Operating Companies Westward Financial Group

  9. Corvesta’s 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.

  10. The Speed of Growth

  11. 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 hasn’t and adjust

  12. Employee Steps to Change For Change to Work, People Have to Embrace It!

  13. 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 

  14. Corvesta’s 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

  15. 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 it’s necessary. • Or Loyal Opposition/ Unity of Command.

  16. More Tactical Steps • Reward those who embrace the change. • Don’t tolerate those who will not change.

  17. Question & Answers "When you're finished changing, you're finished." - Benjamin Franklin

  18. Pivoting (and Playing) to win 4.17.14

  19. Pivoting to win Pivoting – What is it? Strategy is Choice Playing to Win Getting Oriented Storytelling Lean Thinking and Testing

  20. Pivoting:A big change in direction- for an enterprise- a Service or product line- a product

  21. 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

  22. Why change?- You Are losing revenue- You are losing key talent- Your industry has been disrupted- Black Swan Event- Something equally awfulThings have become unsustainably wrong

  23. Listen to your pain - Modea’s “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

  24. Startup thinking –good for changing grownup companiesA startup:Discovers a customerFinds a business modelA ReStartup: ReDIscovers and reactivates customersRedefines product, service, and Business models

  25. Strategy is Choice

  26. The real world does not make choosing easy:VolatileUncertaincomplexAmbiguous

  27. 1. Choosing to Play to Win

  28. Apply rigor to your thinkingStrategic choice Cascade • Developed by P&G and the Monitor Corporation • Quick top level view of the cascade and how it works.

  29. 2. Separate the Signal From the Noise

  30. Inside: Ruthless self-inquiry

  31. Outside: Find the Truth with your customers(not guessing in the comfort of your office)

  32. 3. No Vision, No PIvotSelf inquiry+ Customer Discovery+ ideas = vision

  33. 4. Use your vision to Think NarrativelyTell the story of your…new productnew serviceNew CompanyWhat Must Be true?

  34. 5. Iterate quickly, continuously, relentlessly

  35. The ultimate question:Pivot or persevere?

  36. Where did we wind up?

  37. From: Full Service Advertising agencyTo: Digital Consultancy and Product Studio

  38. 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

  39. 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, you’re just playing around. CHANGE CHEAT SHEET:

  40. The LARGEST Technology CELEBRATION OF THE YEAR - Congratulations to our 2014 Nominees! - www.RBTCTechNite.com

  41. Upcoming events May Lunch & Learn: Show Me The Money TechNite Awards Banquet Pitch & Polish Tech & Toast: Regional Tech Showcase 8 May 9 May 20 June 12 www.thetechnologycouncil.com/events

  42. RBTC Annual Partners

  43. Roanoke – Blacksburg Technology Council

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