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setting goals and objectives
Transcript of setting goals and objectives
Humble about their own abilities
Able to adapt scientific methods to analyse their problems, challenges and opportunities
Experimenting and trying more little things that generate a lot of possibilities and small wins that add up to big results How to set them? Setting Goals & Objectives Issues in decision making? Characteristics of
effective decision making? The Goal setting processes Performance Management System Leaders of organisations seeking opportunities Four cardinal principles for CEO Decision and Desire Based on Neuroscience Study The way our brain works can inhibit our decisions making Other traps...
Estimating and Forecasting traps
‘Recallability’ Experiment and taking risks Challenge the long-standing practice of how the organisation is organised
Take risks with bold ideas
Generate small wins
Big problems to solve will be too overwhelming
Change old mindsets and behavior patterns
Take it step-by-step
Break down big problems
Learn from experience
People never do anything perfectly for the first time they try it See information
Share information Decisions Without Blinders Know what you are looking for, and train your eyes.
Develop (or pay for) an outsider’s perspective. It might be fatal if... Decision style does not change (Brousseau, K. Driver, M. Hourihan, G. and Larsson, R. 2006, ‘The Seasoned Executive’s Decision-Making Style’ Harvard Business Review, February, pp111-121) Leaders Framework What to eat for Christmas Party Bazerman, M. H. and Chugh, D. 2006, ‘Decisions without blinders’ Harvard Business Review, 84 (1), pp. 88-97
Brousseau, K. Driver, M. Hourihan, G. and Larsson, R. 2006, ‘The Seasoned Executive’s Decision-Making Style’ Harvard Business Review, February, pp111-121
Hammond, J. S., Keeny, R. L. and Raiffa H. 2006, ‘The hidden traps in decision making’, Harvard Business Review, 84 (1), pp. 118-126
Morse, G. 2006, ‘Decisions and desire’ Harvard Business Review, 84 (1), pp. 42-51
Prahald, C. and Mashelkar, R. 2010, ‘Innovation’s Holy Grail’ Harvard Business Review, July-August, pp133-141
Quinn, R. Faerman, S. Thompson, M. McGrath, M. St Clair, L. 2011, Becoming a Master Manager, Fifth Edition, John Wiley & Sons, Hoboken NJ pp191-203
Snowden, D. and Boone, M. 2007, ‘A Leader’s Framework for Decision-Making’ Harvard Business Review, November, pp69-76
Kouzes, James M. ; Posner, Barry Z., 2007, ‘The Leadership Challenge: Search for opportunities’, John Wiley & Sons Inc., pp. 173-204 (Hammond, J. S., Keeny, R. L. and Raiffa H. 2006, ‘The hidden traps in decision making’, Harvard Business Review, 84 (1), pp. 118-126) (Hammond, J. S., Keeny, R. L. and Raiffa H. 2006, ‘The hidden traps in decision making’, Harvard Business Review, 84 (1), pp. 118-126) Source: R. E. Quinn, Beyond Rational Managememt (San Francisco: Jossey-Bass, 1988) (Morse, G. 2006, ‘Decisions and Desire’, Harvard Business Review, pp. 42-51) Humans have dog brains
Not always in charge of our decisions Examples
'Reward' circuits - Pleasure
'Aversion' circuits - Threat Managing it
Controlling (Snowden, D. & Boone, M. 2007, ‘A Leader's Framework for Decision Making’, Harvard Business Review, pp. 69-76) Based on Complexity Science
Why current Leadership Approaches fail
Creates the Cynefin Framework Cynefin
Framework Simple Complicated Complex Chaotic Disorder Formulate specific objectives and the due date Develop an action plan and
identify specific steps Create a schedule Develop a "Budget" Set standards Establish implementation mechanism Estimate milestone
achievements Gaining strategic unity and alignment Translating strategy into individual goals "S.M.A.R.T." GOALS Specific
What has to be done?
How much has to be done?
Does it seem possible?
Is the goal relevant to the person?
Be when does the goal need to be achieved? Leaders should be innovators
Bring new ideas, methods and solutions
Make something happen and change
Two steps to search for opportunities Seize the initiative
foster a can-do attitude
let ideas flow from outside
keep alert Have a motivating and compelling vision, inspiring values, and clear strategic intent
Ensure vision, values, and strategic intent are understood and owned throughout the firm
Ensure goals and actions are aligned across all units, teams, and individuals
Have the knowledge, skills, and mind-set needed to execute the strategy, live the values, and achieve the vision Translating vision to organizational unit goals
Jointly establishing individual goals
Ongoing coaching and feedback
Evaluation of performance Seeking opportunities continued... Reflection and action
REFLECT - Understand what gives motivation
ACTION - 3 steps:
Treat every job as an adventure - Approach new assignments like a start-over
Question the status quo – question the traditions and see what works and what doesn’t
Send everyone shopping for ideas externally – to improve Jack Welch Challenge the absence of disconfirming evidence.
Undersearch in most contexts, but oversearch in important contexts. Unpack the situation.
Assume that the information you need exists in your organization. Everyone has unique information; ask for it explicitly.
Create structures that make information sharing the default. (Source: http://www.analytix.co.za/Training/Courses/StrategyPerformanceManagement.aspx) 1. My goal is inclusive growth
2. My vision should be unambiguous
3. I must set stretch targets
4. Our focus should be on people Exercise outsight
Source innovative ideas outside the organisation
Customers, suppliers, lead users, business partners or R&D labs
Innovation requires more listening and communication than routine work – establish more relationships
Promote external and internal communication Gordon
Bethune Eg. Palatine murders of 1993 (Kouzes, James M. ; Posner, Barry Z., 2007, ‘The Leadership Challenge: Search for opportunities’, John Wiley & Sons Inc., pp. 173-204) Kouzes, B. and Posner, J. 2007, The Leadership Challenge, 4th edition, Jossey-Bass, pp173-204, Search for Opportunities Kouzes, B. and Posner, J. 2007, The Leadership Challenge, 4th edition, Jossey-Bass, pp173-204, Search for Opportunities (Source: R. E. Quinn, Becoming A Maser Manager 5ed, 2011) (Source: R. E. Quinn, Becoming A Maser Manager 5ed, 2011)
Framing Decision Current Situation Initial Information Past Experiences Framing
questions in terms
of gains & loses Evidences
own position To Reduce Impact
View from perspectives
Always question ourselves
Ask for advice
Play Devils' Advocate
Question in a neutral manner
Consider extremes Gavin, Senior executive of Apple Picking Ltd., Steve, First line manager of
Apple Picking Ltd., Job duties:
Direct activities of others
Monitoring ongoing operations, Responding to changing plans Job duties: Formulating strategic vision and plan
Facilitating enterprisewide integration and coordination
Communicating vision and priorities throughout the organization Decisive style Integrative style What will they say??? source:Prahald, C. and Mashelkar, R. 2010, ‘Innovation’s Holy Grail’ Harvard Business Review, July-August, pp133-141 Kouzes, B. and Posner, J. 2007, The Leadership Challenge, 4th edition, Jossey-Bass, pp173-204, Search for Opportunities Bazerman, M. H. and Chugh, D. 2006, ‘Decisions without blinders’ Harvard Business Review, 84 (1), pp. 88-97 Richard Branson : How he assesses risk when looking at new opportunities? "protecting the downside is critical, we'll make bold moves but also make sure we've got ways out if things go wrong" "We cannot solve our problems with the same thinking we used when we created them. "
Albert Einstein Richard Branson: Talking Management