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C-Suite Intelligence 26th May 2020

Winmark's C-Suite Intelligence service providing news, content and research to help leaders across all C-Suite functions address the exceptional business planning and management challenges they are facing.

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TOP INSIGHT


Can you handle the truth? Three ways for leaders to stop missing essential information from across their organisation
 
Strategy + Business
 
In Sydney Finkelstein’s classic study of corporate collapses, 'Why Smart Executives Fail', the evidence that business leaders would have needed to avoid failure was available to them in every one of the cases that the author and his team examined. But leaders overlooked or ignored the warnings.
 
To make sure your feedback loops don’t become blocked or distorted, here are three key actions you can take. 
  1. Focus on clarity. Although things might seem well-defined to the few at the top, they can quickly become fuzzy as they’re translated down and across the organisation, and beyond, to strategic partners and other key stakeholders.
  2. Banish the “HPPO.” There’s a natural tendency to defer to the highest-paid person’s opinion (HPPO). By focusing instead on the alignment between intentions and outcomes you de-emphasise individual heroics or shortcomings and emphasise your organisation’s system design and resourcing.
  3. Destigmatise mistakes. Recast “trial and error” as “trial and learn.”
Leading requires the willingness to hear the truth, the discipline to encourage communication from all directions, and the courage to face the facts.
 
Read more here.
 
​​​​FURTHER INSIGHTS

Five tips to reduce screen time while you’re WFH

Harvard Business Review 
  1. Don’t default to Zoom. If a phone call would work fine for a conversation, use that. Just because you can use video, doesn’t mean you should.
  2. Limit your meeting time. Block out time on your schedule where you’re not available for meetings so that you can temper how much virtual communication you have each day.
  3. Choose physical over digital. Look for ways that you can take the low-tech route. Brainstorming for an article? Write out your thoughts on paper. Anytime you can reasonably choose a physical option over a digital one, take it.
  4. Move as much as possible. In between meetings, take a walk to the kitchen to refill your water or coffee. If you’re on a phone call and don’t need to be taking notes or looking at documents, consider standing up or even walking back and forth during the conversation.
  5. Take tech-free breaks. Eat lunch while chatting with your family members in the kitchen, looking out a window, or reading a physical book. Stepping away from technology not only gives your brain a break but also gives you the added bonus of perspective.
Read more here. What sets the world’s best CEOs apart

McKinsey & Company

Read the transcript of a conversation with McKinsey senior partners Carolyn Dewar and Scott Keller; and communications director Sean Brown.
 
They discuss the six dimensions that separate exceptional CEOs from the rest of the pack. They also provide guidance on how current and future leaders can make the move to CEO.
 
Read more here.
Digital transformation: preparing for a new reality
 
KPMG
 
If you plan to harness digitalisation to help your organisation become more resilient, here are some tips to move you forward. You can divide digital transformation into four main pillars: 
  1. Digital strategy:
  • What are your strategic priorities?
  • What are the main objectives and drivers of customer experience?
  • How do you compare with competitors and best practices?
  1. Digital architecture.
  • What are my clients’ needs, behaviours and expectations?
  • How do my clients interact with my organisation?
  • How should my omni-channel operating model work?
  1. Digital office.
  • Establish the governance model’s decision structures, operating procedures, execution KPIs and collaboration enablers.
  • Manage and govern assessment of opportunities to leverage digital transformation effectively.
  • Define your methodologies and approaches for delivering the expected products and solutions (e.g. Waterfall, Agile, etc.).
  1. Digital assets delivery.
  • Ensure you track the benefits of your transformation.
  • Enable a continuous improvement program and culture that supports innovation and ongoing business sustainability.
  • Rely on talented individuals who will help you deliver on promises and make sure your organisation delivers sustainable change at all levels of the organisation.
Read more here.
 
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