1-1 Management Execution

1-2 The Eight Components of Management Execution OrganizationResources Policies & Procedures Continuous Improvement Systems Rewards & Incentives CultureLeadership

1-3 Staffing the Organization—Building Managerial Talent  Assembling a capable management team is a cornerstone of the organization-building task  Find people who can “make it happen” NETWORK AND COOPERATE – partners and fellow travelers are your friends! Provide promising team members with skill- stretch assignments Strive to retain high-performers via career path development and compensation Coaching average performers to improve their abilities Empower

1-4 Allocating Resources to Strategy Critical Activities  Allocating resources in ways to support effective strategy execution involves Funding projects that hold promise, while turning down those that don’t Providing the proper amount of funding to support new strategic initiatives New strategies call for the reallocation of resources A2 (Events vs. Licensing)

1-5 Instituting Strategy Supportive Policies and Procedures  Policies and procedures facilitate good strategy execution by: Providing top-down guidance regarding how things need to be done Enforcing consistency in how strategy-critical activities are to be performed Promote a work climate that facilitates good strategy execution MD(Deliverables & Contracts)

1-6 Striving for Continuous Improvement in Internal Processes  Searching out and adopting best practices is integral to effective implementation  Benchmarking is the backbone of the process of identifying, studying, and implementing best practices  Expose yourself to new ideas/colleagues/ companies/industries/academia PwC MD

1-7 Installing Information and Operating Systems  Good information and operating systems are essential for first-rate strategy execution  Information systems are needed to track and report: Customer data Operations data Employee data Supplier data Financial data RHMR(CRM)Bertelsmann(SAP) The critical importance of having a “tech geek” on the team The critical importance of having a “tech geek” on the team Online “virtual tech geek” resources Online “virtual tech geek” resources

1-8 Using Rewards and Incentives  Reward systems should include both monetary rewards and non- monetary rewards Monetary   Base pay increases   Bonuses   Profit sharing plans   Stock options   Piecework incentivesNon-Monetary   Praise and recognition   Stimulating assignments   Autonomy   Rapid promotion PwC

1-9 Corporate Culture  A corporate culture or work climate is the product of work practices and behaviors that define “How we do things here” Approach to people management The chemistry of its work environment A2MDCRSIdock11.com

1-10 Leading the Strategy Execution Process  Managers at all levels of the organization must: Stay on top of what is happening Be adept in determining what problems lie in the path of operating excellence Push the organization for good results and operating excellence “Feel the vibe” MBWASolveProblemsInspire

1-11 Management Execution – Example (T-Shirt Company)  Organization Focus on word-of-mouth thought leaders as partners for initial UC campus phase Consider bringing on partner(s) for expansion to other campuses  Resources Get input from Adam Campos on key resources (T-shirt production equipment)? Later resource investments may involve marketing capabilities as well

1-12 Management Execution – Example (T-Shirt Company)  Policies & Procedures Order, delivery, and payment terms with customers Liability issues (flammability, allergies, etc)  Continuous Improvement Advice contacts Trade association/trade journals Networking

1-13 Management Execution – Example (T-Shirt Company)  Information Systems Initial focus on technology team member and basic office setup Mid-term focus on inexpensive, scalable ERP system  Rewards & Incentives Initial focus on “win-win” situations for partners and fellow-traveler firms Initial focus on equity for key personnel

1-14 Management Execution – Example (T-Shirt Company)  Culture Focus on camraderie by: Making sure the interests of all key personnel are addressed Finding regular weekly time for all key personnel to meet and work together  Leadership Initial focus on frequent communication with all partners to identify/address problems