Rather than merely rushing projects, it is important to be thorough and accurate in executing assignments

Strategic Speed is a great read, a refreshing read from the dull books on managing or running a company that are often churned out by writers. The authors, Jocelyn R. Davis, Henry M. Frechette, Jr and Edwin H. Boswell, discuss the hazards of speed in the prologue, stressing that it is detrimental to a company to sacrifice accuracy for speed. They define strategic speed as where urgency meets execution; it’s about implementing plans and strategies not only quickly, but well. It’s something leaders pursue every day and something they are paid to achieve.

In addition, they point out that one should not go for speed only by using processes, systems and technologies to become more efficient. “This approach, while helpful, will get you only so far. Focusing on efficiency alone does not create speed. Though processes and technologies may appear more manageable than people, they’re really just easier to arrange and adjust. And no matter how you arrange the mechanics of the workplace, speed will remain elusive if people issues are overlooked,” say Davis, Frechette and Boswell.

A new view of speed is discussed in another chapter where the three most important factors are clarity, unity and agility. Clarity refers to shared, clear understanding of your situation and direction. Unity is a wholehearted agreement on the merits of that direction and the need to work together to move ahead. Agility is the willingness to turn and adapt quickly, while keeping strategic goals in mind.

In examining the issue of clarity more clearly, it is important to be able to answer the question, where are we going and why? For example, we should know what are the external conditions we face? Also, what are our internal capabilities? And based on all these factors, what should we do, and how should we act?

Meanwhile, agility has a lot in common with perseverance; which few people realise. In another section, the authors look at how leaders affirm strategies. They add that the first step in achieving strategic speed is having leaders who don’t just formulate strategies but also affirm them. For example, Holiday Inn’s strategy to create a new guest experience. Holiday Inn earned US$200 million in incremental revenue within the first year of its customer experience campaign.

By the end of the second year, it had doubled its growth in revenue per available room, a common industry metric. The brand enhancements made it one of the top ten brands for customer service in 2008, according to a survey by MSN-Zogby survey, “How Companies Were Rated,” by MSN Money.

Finally, it is interesting to note that in the last few chapters, the writers illustrate how well-cultivated experience drives speed. They cite an example of a great artist with 40 years of practice who can easily do a high-quality sketch in moments. A well-functioning team with a year of experience working together can complete a project faster than one that does not.

The big caveat is that merely experiencing a lot of events doesn’t result in an increase in knowledge, skill or speed. When we think of cultivating experience, we think about experience being brought into view, made significant, shared, encouraged to endure and harnessed so that it contributes power to organisational endeavours.

Ultimately, it is through strategic speed that a person can run a company effectively without falling into the trap of over focusing on speed.

Details

Title: Strategic Speed: Mobilize People, Accelerate Execution.
Author: Jocelyn R. Davis, Henry M. Frechette, Jr, Edwin H. Boswell.
Publisher: Harvard Business Press

Verdict: Highly recommended. A refreshingly great read.

One Response to “Books: The Right Way to Harness Speed”

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