BUSINESS AND STRATEGY COACHING
The Coaching Cosmos aim is to provide a wide range of tools and support to enable excellent coaching insights covering business and strategy.
The intent is to provide insights for existing businesses at a particular stage of development from start up to more mature scenarios.
The information and support will enable coaches to cultivate and develop their approach and the value delivered to clients
Typical areas covered will include :
Starting a business
Vision and Strategy
Culture
Business Plan
Marketing Strategy
People Strategy
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A recent McKinsey survey looked at creating organisational transformations
And highlighted a range of tactics organisations use to successfully enable effective change:
1. Setting clear and high aspirations for change
2. Using a variety of means to engage the whole company in the change and energise people and teams
3. Establishing clear executive sponsorship
4. A highly visible CEO /leadership team
5. A range of communication and accountability methods to keep people involved
6. Communication of change in a positive way building on success rather than a purely fixing problems mindset
7. Creating and communicating a compelling change story
8. Clearly defined transformational goals and well articulated vision representing a genuine new level of performance
9. Organising the transformation into a clear structure made up of easily understood components
10. Ensuring frontline staff contribute to and feel ownership for change
11. Reinforcing and embedding change through performance targets and incentives
Typical transformations included:
1. Moving from good performance to great performance
2. Reducing costs
3. Turning around a crisis situation
4. Completing or integrating a merger
5. Expanding geographically ( Globalising)
Another recent survey looks at what the Growth Champions do differently ?
The 10 practices that statistically differentiated the Growth Champions from all other companies in the sample follow:
1. Create clarity about the markets or businesses from which growth will come - 95% of Growth Champions vs. 73% of all other companies in the study reported implementing this practice to a 'great' or 'very great extent'
2. Articulate clear profit model(s) that are well understood by managers - 90% vs. 54%
3. Focus the whole business on a few initiatives - 68% vs. 45%
4. Engage in disciplined execution, at all levels of the organization, on growth initiatives - 79% vs. 44%
5. Translate customer insights into new offerings and/or business improvements - 68% vs. 35%
6. Promote excellence in execution - 90% vs. 75%
7. Maintain strong metrics/feedback loops to identify what is/isn't working - 74% vs. 40%
8. Make effective trade-off decisions about which opportunities to invest in - 68% vs. 44%
9.Ensure sustained alignment of leaders around actions to support growth strategies - 84% vs. 49%
10. Build leaders' capabilities to grow the company from within - 74% vs. 47%
"It is clear that some companies are focusing on activities that, while theoretically important, are not the right seeds to sow for organic growth. In fact, CEOs should avoid certain actions or at least approach them with caution. Better still, by redirecting their resources into the ten areas above, which are contingent upon and leverage one another, a company can successfully propel itself towards its growth goals," said Dr. William Pasmore, partner, Mercer Delta Consulting.
Size, Industry Don't Matter - Using the Right Practices Together Creates Impact
Successful organic growth is not dependent on size or industry - the Growth Champions, identified by the study, matched the financial size and industry mix of the balance of the sample.
What sets the Growth Champions apart is their ability to implement these business practices in conjunction with one another and to pursue the practices with a greater level of intensity(3) than other companies in the sample.
"The Growth Champions implement these key practices in a systematic way, using them - oftentimes unknowingly - as mutually reinforcing actions for maximum impact," said Parkington.
Other Findings
In addition to the ten key practices exhibited by the "Growth Champions," the study also found:
-- 95% of the companies who responded said organic growth is critical to their success
-- 90% claim that their organizations are highly engaged in efforts to grow from within
-- 49% reported their company's capabilities to grow from within is getting stronger
-- 60% believe that organic growth will be even harder to achieve in the next three years - Growth Champions feel the same
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