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05.21.15 Vanderbilt Presentation on Building Leadership Skills

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05.21.15 Vanderbilt Presentation on Building Leadership Skills

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Presentation to Leadership Team at Vanderbilt University Medical Center on Transformational Leadership. A Discussion of Disruption in the Market, Becoming a Leader in Creating Change, and Tools for Self Improvement as a Leader.

Presentation to Leadership Team at Vanderbilt University Medical Center on Transformational Leadership. A Discussion of Disruption in the Market, Becoming a Leader in Creating Change, and Tools for Self Improvement as a Leader.

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05.21.15 Vanderbilt Presentation on Building Leadership Skills

  1. 1. TRANSFORMATIONAL LEADERSHIP Healthcare’s New Business Model
  2. 2. The Law of Disruption While  People  Change  Incrementally,  Technology  Improves   EXPONENTIALLY
  3. 3. Mobile, Social, Camera, Sensors, Cloud and Data $36  Trillion  in  stock  market  value  is  up  for   RE-IMAGINATION
  4. 4. 1 | WORK ON THE BUSINESS The most successful transformational leaders I've known spend time each week working “On The Business.” TRANSFORMATIONAL LEADERSHIP
  5. 5. THE BUSINESS JOURNEY THERE’S NO STRAIGHT LINE FROM “A” TO “B” Leadership Planning & Strategy Customer & Market Focus Analytics People Focus Process Knowledge Business Information Goal
  6. 6. Business Process: Working IN your business Business Capability: Working ON your business Today’s Reality Tomorrow’s Opportunity
  7. 7. You can spend all day, all week, all year on the business in survival or maintenance mode But growth happens when you work on this! Business Process Business Capability
  8. 8. THE SECRET | FOCUS ON THE BUSINESS MODEL Make fundamental adjustments that enhance your competitive advantages. New entrants often offer a “better mouse- trap” – superior benefits and lower costs. A Business Model is simply a representation of how an organization makes money.
  9. 9. The Business Model has Become a Given Our Professional Lives Are Simply “to do” Lists
  10. 10. There are 7 core business model types from which every business model is created. BUSINESS MODELS | 7 CORE TYPES
  11. 11. WHO WHAT HOW is your
 customer? do you offer your customers? do you do this? Markets Customer Segments Individual Customers Products & Services Solutions Experiences Create Value Deliver Value Capture Value Value Proposition What Is A Business Model? The Essence & Main Components
  12. 12. Who is your customer? What is your value proposition? How are you creating and delivering your offer? Source: Marc Sniukas Describe Your Business Model Describe Your Business by Answering These 3 Questions
  13. 13. Most of Our Strategies are “off” by 10 Degrees … so are most of our competitors Closing the Gap Defines Success
  14. 14. 2 | DIFFERENTIATE FIVE TRAITS OF TRANSFORMATIONAL LEADERS Differentiate yourself as a leader by combining 3 puzzle pieces: Your Assets Your Aspirations The Market Realities
  15. 15. Delivery Skills Emotional Intelligence Discovery Skills 1. Insight: Compelling vision of the future that attracts others 2. Expertise: Ability to show others how to get things done 3. Relationships: Capable people actually choose to follow you TRANSFORMATIONAL LEADERSHIP
  16. 16. 37% Only of Individuals Think their Organization is Innovative WHERE IS THE INNOVATION?
  17. 17. Yet 79% work environments. would feel motivated by innovative
  18. 18. WHAT MOST OF OUR STAFF AND CUSTOMERS THINK WE ARE TRYING TO BUILD
  19. 19. WHAT MOST OF OUR CUSTOMERS WANT
  20. 20. •  WE DO NOT LEAD an organization, department or group; and your people do not follow strategic plans, fancy goals or year-end reports | THEY FOLLOW A PERSON •  Often, our understanding id diluted with operational plans, goal setting, revenue and sales forecasting, cash flow, HR, compliance and the company’s bottom line. •  How You Influence Others is the Most Important Part of Leadership You Are Messing with Peoples’ Lives!
  21. 21. Individuals are hard-wired to belong To groups and communities That acknowledge their existence, accept them And help them define their identity. Boy  Scouts  or  Gangs,  It’s  all  about   BELONGING
  22. 22. •  How does the plan build Awareness? •  How do we create Interest? •  What are the drivers of team Desire? •  How do we cause Adoption | Buy In?   BUILDING AIDA | AFFECTING CHANGE
  23. 23. COGNITIVE STAGE | THINK Awareness | The cognitive component deals with cognition, or knowledge; it is the power of knowing, perceiving or conceiving ideas about the product. It is dealing with the basic information that our team needs to know. Our team must to be exposed to the plan – and understand the WHY before we discuss HOW and WHAT.
  24. 24. AFFECTIVE STAGE | FEEL
 Interest & Desire | The effective component deals with the affections/emotions. For example, feelings of likes or dislike towards the plan. It is at this stage that the team will emotionally connect and engage or they will disconnect and disengage.
  25. 25. BEHAVIOR STAGE | DO Action | This is the stage when the team, after having the knowledge and developing the liking or disliking towards the plan (and emotional buy in), will ultimately lead to action and execution.
  26. 26. LESSONS LEARNED IN LEADERSHIP Great Communicators Tell 3 Stories:" 1.  Tell a compelling story about yourself.. 2.  Tell a compelling story about the organization.. 3.  Stories of your people & how the work they do is an essential part of the team.
  27. 27. 3 | NETWORK & COLLABORATE A Leader must have a broader view that goes outside the healthcare business. We get that broader perspective out there in our networks. In those networks you find information to bring it back into the business. 7 BUSINESS GROWTH STRATEGIES FIVE TRAITS OF TRANSFORMATIONAL LEADERS
  28. 28. EMPLOYERS SEARCH PROVIDERS SERVICE VENDORS HEALTH PLANS APP MAKERS Customers AROUND THE CONSUMER HEALTHCARE STAKEHOLDERS ARE ALIGNING You are competing with every other type of healthcare entity for “shelf space” with the consumer.
  29. 29. WHAT IS YOUR BRAND? …what do people say about you when you leave the room
  30. 30. MY DEVELOPMENT The 500 People That Connect Me to Anyone in the World Opportunity Development The 50 People That Are Key to Professional Growth Professional Development The 5 People That Most Influence Who I Become Personal Development 1. 2. 3. 4. 5.
  31. 31. 4 | THINK VALUE Challenge traditional thinking in healthcare – focus on the customer, whose wants and needs change. 7 BUSINESS GROWTH STRATEGIES FIVE TRAITS OF TRANSFORMATIONAL LEADERS
  32. 32. Competitive Advantage | our ability to outperform our competitors: Valuable, Rare, Sustainable, Hard to Imitate. THE HALO VALUE CREATION FOR OUR CUSTOMERS V = Value to consumer P = Price C = Costs of production C P – C = Margin V – P = Halo
  33. 33. V – P = Halo C Competitive Advantage | our ability to outperform our competitors: Valuable, Rare, Sustainable, Hard to Imitate. THE HALO VALUE CREATION FOR OUR CUSTOMERS V = Value to consumer P = Price C = Costs of production P – C = Margin
  34. 34. Source: The New Multi-Screen World Study | Google, August 2013 CONSUMER VALUE IS OFTEN INFERRED IN CONTEXT OF TIME AND ACCESSIBILITY
  35. 35. 5 | ENGAGE CONSUMERS Healthcare’s consumer is increasingly mobile and lives online. Consider a C2B Model – using customer data to engage and build loyalty. It will take more than a website to thrive in the New Health Economy. 7 BUSINESS GROWTH STRATEGIES FIVE TRAITS OF TRANSFORMATIONAL LEADERS
  36. 36. MULTI-CHANNEL LIFE MOST CONSUMERS HAVE A Customers Use Consumer Data To: •  Refine business models •  Enhance consumer experience •  Earn greater loyalty
  37. 37. LOOK FOR TREND Challenge traditional thinking in healthcare – focus on the customer, whose wants and needs change. 9 BUSINESS GROWTH STRATEGIES
  38. 38. The next “New Thing” happens because we see in our peripheral vision emerging opportunities… You Can Almost Feel the Change
  39. 39. THE NEXT NEW THING | Begins with an Idea
  40. 40. GET THE IDEA 
 OUT OF YOUR HEAD!
 
 
 …and into a Picture!
  41. 41. 1.PRODUCT 5. KEY INGREDIENTS 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION Company Name Version Number Date THE IDEA FRAME | WHAT IF
  42. 42. 1.PRODUCT 5. KEY INGREDIENTS 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION THE PRODUCT QUESTIONS •  What is it? •  Who has one like it? •  Why now? •  Why me? Company Name Version Number Date
  43. 43. 1.PRODUCT 5. KEY INGREDIENTS 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER What is the pain? Who are early adopters? What brands do they buy today? What causes them to choose us? 4. INTIMACY 3.DISTRIBUTION THE CUSTOMER QUESTIONS •  Who are early adopters? •  What is their pain? •  How do they solve it today? •  What brands do they buy? •  What causes them to choose us? Company Name Version Number Date
  44. 44. 1.PRODUCT 5. KEY INGREDIENTS 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER What is the pain? Who are early adopters? What brands do they buy today? What causes them to choose us? 4. INTIMACY 3.DISTRIBUTION Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? THE DISTRIBUTION QUESTIONS •  How do customers hear of us? •  How do they buy? •  Do we make it easy to buy? •  At what price will they buy? Company Name Version Number Date
  45. 45. 1.PRODUCT 5. KEY INGREDIENTS 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER What is the pain? Who are early adopters? What brands do they buy today? What causes them to choose us? 4. INTIMACY 3.DISTRIBUTION Why do early adopters like us? How do we engage them? Will they become our Ambassadors? Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? THE INTIMACY QUESTIONS •  Why do early adopters like us? •  How are we engaging them? •  Will they become ambassadors? Company Name Version Number Date
  46. 46. 1.PRODUCT 5. KEY INGREDIENTS What are the core elements of the product or service that are unique to our team? What are the critical ingredients in my design that I must own? 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER What is the pain?" Who are early adopters? What brands do they buy today? What causes them to choose us? 4. INTIMACY 3.DISTRIBUTION What causes customers to like us? How do we engage them? Will they become our Ambassadors? Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? KEY INGREDIENTS •  What are the core elements of the product or service that are unique to our team? •  What are the critical ingredients in my design that I must own? Company Name Version Number Date
  47. 47. 1.PRODUCT 5. KEY INGREDIENTS What are the core elements of the product or service that are unique to our team? What are the critical ingredients in my design that I must own? 6. PARTNERS Who are the key partners who will provide certain outsource and supply chain services? What partner brands help us look larger than life? 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION What is the pain?" Who are early adopters? What brands do they buy today? What causes them to choose us? What causes customers to like us? How do we engage them? Will they become our Ambassadors? Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? PARTNERS •  Who are the key partners who will provide outsource and supply chain services? •  What are the brands that will help us look larger than life? Company Name Version Number Date
  48. 48. 1.PRODUCT 5. KEY INGREDIENTS What are the core elements of the product or service that are unique to our team? What are the critical ingredients in my design that I must own? 6. PARTNERS Who are the key partners who will provide certain outsource and supply chain services? What partner brands help us look larger than life? 7. ESSENTIAL RECIPE What is the perfect mix of the core elements I must do? What partnership | outsource activities that meet the customers needs without being overly complicated? 8. COST MODEL 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION What is the pain?" Who are early adopters? What brands do they buy today? What causes them to choose us? What causes customers to like us? How do we engage them? Will they become our Ambassadors? Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? ESSENTIAL RECIPE •  What is the perfect mix of the core elements I must do? •  What partnership activities that meet the the customers needs without being overly complicated? Company Name Version Number Date
  49. 49. 1.PRODUCT 5. KEY INGREDIENTS What are the core elements of the product or service that are unique to our team? What are the critical ingredients in my design that I must own? 6. PARTNERS Who are the key partners who will provide certain outsource and supply chain services? What partner brands help us look larger than life? 7. ESSENTIAL RECIPE What is the perfect mix of the core elements I must do? What partnership | outsource activities that meet the customers needs without being overly complicated? 8. COST MODEL Do items (5-7) create an affordable cost structure? Can I create a competitive market margin for the product or service at the price I can charge? What is my best guess of the margin? 9. REVENUE MODEL Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION What is the pain?" Who are early adopters? What brands do they buy today? What causes them to choose us? What causes customers to like us? How do we engage them? Will they become our Ambassadors? Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? MY COST MODEL •  Do items 5-7 create an affordable cost structure? •  Can I create a competitive margin? •  What is my best guess of the margin? Company Name Version Number Date
  50. 50. 1.PRODUCT 5. KEY INGREDIENTS What are the core elements of the product or service that are unique to our team? What are the critical ingredients in my design that I must own? 6. PARTNERS Who are the key partners who will provide certain outsource and supply chain services? What partner brands help us look larger than life? 7. ESSENTIAL RECIPE What is the perfect mix of the core elements I must do and the partnership | outsource activities that meet the customers needs without being overly complicated nor costly? 8. COST MODEL 9. REVENUE MODEL What can I charge for the product or service? Based upon my cost model, is the business sustainable? Does it attract investors? Can it scale and grow? How do I know? Whatisit?Whohasonelikeit? Whynow?Whyme? 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION What is the pain?" Who are early adopters? What brands do they buy today? What causes them to choose us? What causes customers to like us? How do we engage them? Will they become our Ambassadors? Howdocustomershearaboutus? Howdotheybuy? Isiteasytobuy? Atwhatprice? Do items (5-7) create an affordable cost structure? Can I create a competitive market margin for the product or service at the price I can charge? What is my best guess of the margin? MY REVENUE MODEL •  What can I charge for the product or service? •  Based upon my cost model, is the business sustainable? •  Does it attract investors? •  Can it scale and grow? •  How do I know? Company Name Version Number Date
  51. 51. LEADERSHIP DECISION MAKING REQUIRES AN ENTREPRENEURIAL MINDSET
  52. 52. F Frame the Opportunity or Issue O Organize the Information you Have C Clarify What You Know and Do Not Know U Understand Your Options. Develop a “Plan A” and a “Plan B” Validation of Options: • ROI (Return on Investment) • Value • Projected Growth in Revenue, Margin, Customer Volume S Select Your Best Option. Execute it Well. Does your solution Address the Client’s or Organization’s “Pain”? Does it match the Company’s Strategic Objective (s)? Is it a realistic? Is it affordable? Is it an executable solution? PDCA  Instructio nal  Cycle PLA N A C T DO CHECK • Data  Disaggregation • Calendar  Development • Direct  Instructional Focus • Tutorials • Enrichment • Assessment • Maintenance • Monitoring FOCUS MODEL | DECISION MAKING
  53. 53. We Become ü  What we Eat | Both body and brain health ü  What we Read | Reading changes brain structure & performance ü  The 5 People | With whom we spend most of our time Knowing this, I use the following tool to map out my on personal development plan – to ensure I have an active role in the person I am becoming…
  54. 54. TO-BE SITUATION Ÿ  Performance Ÿ  Skills Ÿ  Perceptions A Transformation Map is a simple but powerful framework 
 against which to chart our progress AS-IS SITUATION Ÿ  Performance Ÿ  Skills Ÿ  Perceptions TO Performance Q3 Q4Q2Q1 FROM
  55. 55. Personal  Life  My  Well  Being   My  Brand  |  Iden5ty  Network  |People  Skill  |  Knowledge   Experiences   My Goal: 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
  56. 56. CONTACT INFORMATION Dr. Michael R. Burcham c.  615.400.7662 e. michael@michaelburcham.com w. www.michaelburcham.com t.  www.twitter.com/michaelrburcham l.  www.linkedin.com/in/michaelburcham Handouts Available: www.slideshare.net/michaelburcham

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