Iiac imds 2021 21st century economy and business- managing for results_final 240321_16.43
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This document provides a summary of a presentation on leading and managing for results in the 21st century economy and business. The presentation covers several topics: the great shift from 20th to 21st century organizations; result-based leadership; developing an MFR strategy; building an MFR organization; key MFR skills for managers; and leading digital transformation. The presentation emphasizes the need for adaptability, a results focus, collaborative culture, and viable digital strategies to succeed in today's dynamic environment.
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Iiac imds 2021 21st century economy and business- managing for results_final 240321_16.43
- 1. 21st Century Economy and Business: Leading and Managing for Results Kayode Adebiyi, FCA, MBA at the 3rd ICAN-MALAYSIA INTERNATIONAL ACCOUNTANTS CONFERENCE KEDAH, MALAYSIA March 24-25, 2021
- 2. Our Roadmap The Great Shift MFR Skills MFR Organization MFR Manager Digital transformation
- 4. “The 20th and 21st Century Organization compared” Kotter, John P, Leading Change, pg.172
- 5. Structure 20th Century •Bureaucratic •Multileveled •Organized with the expectation that senior management will manage •Characterized by policies that create many complicated internal interdependencies 21st Century •Non-bureaucratic, with fewer rules and employees •Limited to fewer levels •Organized with the expectation that management will lead, lower-level employees will manage •Characterized by policies and procedures that produce the minimal internal interdependence needed to serve customers
- 6. Systems 20th Century •Depend on few performance information systems •Distribute performance data to executives only •Offer management training and support systems to senior people only 21st Century •Depend on many performance information systems, providing data on customers especially •Distribute performance data widely •Offer management training and support systems to many people
- 7. Culture 20th Century • Inwardly focused • Centralized • Slow to make decisions • Political • Risk averse 21st Century • Externally oriented • Empowering • Quick to make decisions • Open and Candid • More risk tolerant
- 8. 8 VUCA Volatility Uncertainty Complexity Ambiguity Increasing rate of change Less clarity about the future Multiplicity of decision factors There may be no “right answer” A term originated by a US Military College to describe the new challenges facing leaders.
- 9. We are moving … • From “Old World” … • Lower complexity, slower change • Somewhere ‘someone’ knows • ‘More of the same’ is the rule • Learning has a short shelf-life • Learning has a long shelf- life • Knowledge is scattered • The ‘senior ones’ know most • …To “New World” • High complexity, fast change • No individual can pretend to ‘know’ • Innovation is the ‘rule’ Source: Obeng, E and Gillet, C (2008) The Complete Leader. London Business Press, Buckingham, p3
- 11. Change! •“In times of rapid change, experience could be your worst enemy.” - J. Paul Getty www.terrypaulson.com
- 12. Adaptability
- 17. Leadership Promotes vision, creativity, and change L Management Promotes stability, order and problem solving within existing organizational structure and systems Takes care of where you are Takes you to a new place Leadership versus Management M L
- 18. Managers vs. Leaders • Managers know how to plan, budget, organize, staff, control, and problem solve • Managers deal mostly with the status quo • Management is a bottom line focus: How can I best accomplish certain things? • Management is doing things right • Leaders create and communicate visions and strategies • Leaders deal mostly with change • Leadership deals with the top line: What are the things I want to accomplish? • Leadership is doing the right things
- 19. Results-Based Leadership Effective Leadership = Attributes x Results Skills Values Motives Competencies Behaviors Style Action Programs Projects Goals Initiatives Strategy Source - David Ulrich: Results-Based Leadership
- 25. What is a result? A result is a measurable or describable change resulting from a cause and effect relationship.
- 26. What is Managing for Results? An approach to management used by an organization to: Determine the most important results Establish and communicate direction Monitor progress toward meeting its goals Invest resources strategically for results Use fact-based performance information to continually improve performance and provide accountability for results What gets measured gets done 26
- 27. Results are supposed to be S.M.A.R.T. • Specific • Measurable • Attainable • Result-oriented and relevant • Time-bound
- 29. MFR Organization
- 30. The Four Levels of Every Organization Easiest Short term ©1997, Russell Consulting, Inc. Used with permission. Cultural (values,beliefs, and norms) Physical (processes, tools, and structures) Infrastructure (management systems, measurements, and rewards) Behavioral (what groups and individuals do) Most difficult Long term Ability to influence or change Durability of the change
- 31. The Components of Organizational Alignment Vision Structure • Span of control • Team composition • Hierarchy Systems • Accounting • HR Capabilities • Technical • Leadership Culture • Norms • Shared values • Sales • IT
- 32. The Organization as an Iceberg Metaphor Prentice Hall, 2002
- 33. What you are seeing is ……
- 34. Organizational (Corporate) Culture A pattern of basic assumptions that are considered valid and that are taught to (or “caught by”) new members as the way to perceive, think, and feel in the organization.
- 35. Culture stuff that people do without noticing it HenrikKniberg
- 38. MFR strategy
- 39. Strategy or tragedy? “Without a viable strategy, the possibility of tragedy is not far off” - Anonymous.
- 41. Strategy Definition: “Strategic planning is creating a vision of the future and managing toward that expectancy” It's an effective process for aligning your short-term decisions with your long-term goals Strategic planning answers the three big questions: 1. Where are we today? 2. Where do we want to be in the future? 3. What should we be focused on today, in order to make it more likely we will be where we want to be in the future?
- 42. The Secret to how to do more with less . . . Collaboration Innovation Leadership STRATEGY
- 45. Remember, Culture eats Strategy for breakfast! HenrikKniberg
- 46. MFR Skills
- 47. MFR Skills Synergy Focus Problem solving, decision making Delegation Collaboration Change Leadership
- 48. Change leaders vs. status quo managers
- 49. The Journey Through Change Stability 1. Comfort and Control Looking Back Looking Forward Chaos 3. Inquiry, 2. Fear, Anger, and Resistance Experimentation, and Discovery Leading Change Training, Jeff and Linda Russell, 2003
- 50. Embrace synergy
- 51. Focus
- 53. Quality decision making • Problem solving… – Is bridging the gap between the way things are and the way they ought to be – It is focused on the past • Usually analytical • Operational • Done at lower levels • A problem is – A present unsatisfactory state that needs to be changed to a desired state as soon as possible. – Some deviation from the expected standard which prevent the achievement of objectives. • Decision making… – Is a broader concept – It is the act of making a choice between two or more options – It is focused on the future • Often creative • Directional • Done at senior levels • Problem solving is therefore – part of decision making – a subset of decision making
- 54. Ask questions, assume nothing
- 58. Copyright © 2017 nuCognitive LLC. All rights reserved. SOTA|Walsh;Dec2017 4 Situational intelligence Situational Awareness Contextually Appropriate Action
- 59. 1 N = 3 P (One negative statement is equal to three positive statements) Vince Covello, PhD, Speaker National Public Health Leadership Development Network April, 2003 Risk Communication Communication Communicate
- 62. Delegate Two questions to ask leaders when they become ineffective or suffer burnout: 1. Do you have the ability to build a team? 2. Do you have the right people around you to share the load?
- 63. Delegate
- 64. Collaborate
- 65. MFR Manager
- 66. Managing YOU
- 71. •Wellness is a continuum ranging from death to optimal health. •You can choose your behaviors to move closer to optimal health.
- 72. What is stress?
- 73. Stress – balance issue
- 75. S & A: Partners in crime
- 76. Balance
- 79. Culture – a roadblock or a catalyst for digital transformation
- 80. What is a digital transformation? Digital transformation is the cultural, organizational and operational change of an organization, industry or ecosystem through a smart integration of digital technologies, processes and competencies across all levels and functions in a staged and strategic way until the organization is a fully networked digital organization.
- 81. Digital transformation challenge Digital transformation involves managing the existing business and building for the future at the same time, something like changing the engine of the plane while in flight (Ashutosh Bisht, IDC)
- 82. From the experts • Ian Rogers, Chief Digital Officer at LVMH - “The big moment for an organization is when they have embraced the fact that digital transformation isn’t a technical issue, but a cultural change.” • The Chief Digital Officer of a global consumer products company says: “Culture change is a prerequisite of digital transformation.”
- 83. Strategy or tragedy! “Without a viable digital strategy, the possibility of a digital tragedy is not far off” - anonymous.
- 84. Copyright © 2017 Capgemini Consulting. All rights reserved. 38 We define a digital culture as a set of 7 attributes Innovation Culture: the prevalence of behaviors that support risk taking, disruptive thinking, and the exploration of new ideas Data-driven Culture: Use of data and analytics to make better business decisions Collaborative Culture: the creation of cross-functional, inter- departmental teams to optimize the enterprise’s skills Open Culture: the extent of partnerships with external networks such as third-party vendors, starts-ups or customers Digital First Mindset: a mindset where digital solutions are the default way forward Agility & Flexibility: the speed and dynamism of decision- making and the ability of the organization to adapt to changing demands and technologies Customer Focus: Use of digital solutions to expand the customer base, transform the customer experience and co- create new products 0 1 2 3 4 5 Customer Centricity 6 Innovation Data- driven Decision Making Open Collaborati Culture on Digital First Mindset Agility & Flexibility What is digital culture? Employee Centricity
- 85. 85 How to evolve a digital culture? Take a system thinking approach to culture change Coding Digital DNA Deploy competent digital change agents Invest in digital skills that matter Make digital culture change tangible Design new digital KPIs focused on behaviours Use collaboration tools to increase transparency and win with employees
- 86. Success in digital transformation
- 87. 87 KEY MESSAGES The Great Shift Result-based leadership MFR Strategy MFR organization The only competitive advantage left in the 21st century is adaptability Effective leadership = Attributes X Results The culture of an organization is shaped by the worst behavior the leader is willing to tolerate. If you don't have a viable strategy, you will be defeated by someone who does. Remember, culture eats strategy for breakfast.
- 88. 88 PERSPECTIVE 2020: KEY MESSAGES MFR Skills MFR Manager Digital transformation Digital transformation Problem-solving is a subset of decision making. The higher you go, the more questions matter. To have the right answers, you have to ask the right questions. The only thing you have 100% control over is yourself. Culture is either a roadblock or catalyst for digital transformation. Without a viable digital strategy, the possibility of tragedy is not far off.
- 89. Albert Einstein’s Theory A = X + Y + Z A = Success X = Work Y = Play Z = Keeping your mouth