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* Original Question “How do we go about executing so that we avoid absolutely any Failures?”* The Correct Question - “Maybe we should rethink the entire concept of Failure and Strategy. And figure out How do we create a Successful Organization?” *
* The Top Management Creates a „Great‟ Strategy* Goals, Objectives and Targets are assigned down the Organization…* Now all that everyone needs to do is „Execute‟ on it *
* Everyone does Everything to „Avoid‟ Failure* Everyone forgets the Strategy and Assumptions* Everyone Sticks to Their Goals, Objectives and Targets* Everyone Follows the Plan* Needless to say the World Changes* And everything Fails „Miserably‟ *
* The Top Management sets the „Direction‟ for the Organization and the „Direction‟ for every Division* There is an absolutely MinimalStrategy, just enough for everyone to understand what‟s the Vision and how everyone‟s Directions Integrate* Some essential Risk and Monetary analysis is also done *
* Every Team starts from What they Know and What they Have, and Build Upon It* They make some Assumptions* They make a portfolio of Incremental and Radical Business Decisions* They use a Gated Funnel for their Business Strategies and Operational Tactics* The Progress is Incremental* The Progress is Iterative* Fail Fast and minimize Costly Failures* Gated Funnel is used to manage The Portfolio, Costs and Risks *
* Tactical Failure is Yet Another Learning* There is No Penalty for Failure, If they Fail they go back to Act 1: Scene 2. People succeed and fail and learn all the time.* Contrary to What One Might Think, there is no Chance of Strategic Failure unless everyone puts All Their Eggs In One Basket, and * Violates the Incremental and Iterative processes * And Violates the Portfolio Approach * And Violates the Gated Funnel Approach *
* Pre Renaissance * You are worried about Failure Against „The‟ Plan * And you would end up with „Failure‟ even with 100% Plan Compliance * Everyone is „Worried‟ about „Failure‟. * The Drama was called „Strategy By Design‟* Post Renaissance * It‟s a Global Learning Organization * Learning at the Grass Roots works Great with G-Localization * Ground Experts are in the best position to take the Decisions * „Failure‟ and „Learning‟ is the Norm! * The Drama was called „Emergent Strategy‟ *