Pub. 6 2016-2017 Issue 1

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S July • August 2016 21 For bank leaders, understanding strategy is not the end of the game. Leaders must tie strategy to execution by forging structures that create “learning forward” cycles. These cycles: 1. Repeat regularly; 2. Analyze past actions, performance and results; 3. Develop theories of action to determine the next best step; 4. Focus the team on precision execution; 5. Consistently connect strategy to execution. Communicate Strategy Leaders in banking must understand how their actions are tied to the overall strategy. The learning forward structure allows leaders to continually communicate the strategy to the players and the players to communicate execution adjustments to the leaders. For the learning forward cycle to work, the strategy must be: 1. Captured in a statement that defines the objective, expected outcomes and strengths upon which the team will capitalize on; 2. Communicated clearly and simply; and, 3. Received and understood by those responsible for execution. In the huddle, Manning and his offensive team aren’t talking about how they have to practice blocking next week or any other bigger picture problems; those are topics for huddles between Kubiak and his coaches. They are focused intently on executing the next play to the best of their ability. Only through play-by- play precision execution will Kubiak and his leadership team be able to determine if they need to change strategy. Invest In Your Strategic Structure As you invest effort into defining and crafting your strategy, invest asmuch effort in creating the learning forward structure necessary to allow your strategy to be effectively executed. The learning forward structure is simple: 1. Create a learning forward cycle around your one or two highest priorities where your team meets on a regular basis (1-2 weeks) for no longer than 15 minutes; 2. Ensure your strategy is clear and concise and present in every learning forward cycle meeting to guide exe- cution decisions; 3. Establish a firm agenda that: • Analyzes past execution and results; • Develops new theories of action for the next best play based on current conditions; • Focuses the team on executing, with excellence, the next best play. Create amacro learning forward cycle where your supervisory team meets once a month and your C-level leadership meets at least once a quarter to ensure execution is aligned with the overall strategy. If results are not being achieved, learn from the execution level about what changes must be made in either execution or strategy to keep progressing towards the overall goal. Whether you are the organizational equivalent of Elway, Kubiak orManning, establish your learning forward structure. This structure will allow you to effectively execute your strat - egy, learn from changing conditions and focus your team on your next best play. Game-by-game and play-by-play, you will march towards your goals by executing, pausing, analyzing, learning, adapting and improving. Like the Broncos, you will win your organizational Super Bowl by creating a structure for your strategy to succeed. n By selecting Colman Coaching as your strategic coaching partner, you are choosing a top performer in the leadership development space, specializing in executive communication and corporate performance. Written by Todd Lancaster, Strategy Coach and Kendall Colman, Executive Commu- nications Coach for Colman Coaching ( www.colmancoaching.com) and Associate Member at the Colorado Bankers Association.