This morning I awoke to a great clip by Ed Boswell, CEO of the Forum Corporation, explaining why you need to slow down in order to speed up.
Ed acknowledged that only approximately 30% of strategies actually succeed! Other fundamental highlights were his researches findings that the lack of efficiency in execution can be boiled down to the lack of attention to speed & the people factor. The research also showed that companies who were effective in these two overarching areas had 52% higher profit & 40% higher sales than the rest.
Lack of attention to speed, ironically, could be trying to go too fast and actually has much more to due with ensuring you pay attention to “pace“.
The people factor was narrowed down to 3 things main contributing factors that you have to ensure you get right!
- Clarity; everyone understands the reason “why”
- Unity; everyone has bought into the process
- Agility; the ability to make adjustments & pivot when necessary
Amongst his test cases, Vodafone CEO Vittorio Colao definately seems to have the whole Social Contract concept firmly in practice and working to his advantage with his “I got your back” style of leadership empowerment.
The clear blocker in pulling all of this together is not having clear lines of accountability & high standards for success. A great practice for establishing high standards for success is to follow the leadership practice of managing climate; which states that a leader has to establish a measurable perception of what it’s going to be like to actually work & succeed in their organization.
How would you grade your own attention to speed & people factor in your organization? What are the rhythmic processes or pulse checks you have in place to ensure that you’ve set and are maintaining the right pace? How agile are you in adjusting & pivoting to the needs of your strategy or organization? And finally, how’s the clarity & unity around your latest initiatives?