This simple communication tool had a huge impact on our project management.
I took for granted that our team was working towards the same vision, that we were aligned, and that we had a clear understanding of what constituted success.I was only partly right. Here are some of the things we did to fix it.
Perception Changes With Focus.
The timeframe someone focuses on tells a lot about that person's level in a company. For example, people producing work tend to focus on what they're doing that day or week. Managers have a slightly longer timeframe, and may be looking at monthly production. Some executives are looking at the next year or two; while the CEO is often looking much further out than that.
On a generic level, it is easy to think about the future. On the other hand, for someone working on the day-to-day operational details, it's much harder to figure-out how to go from where we are to even the very next step.
Alignment Is a Key to Momentum and Progress.
Aligning vision, strategy, and tactics is important to make sure that what we're doing now supports our ultimate goal and moves us in the right direction. Consequently, one of the goals of the planning exercise is to create a clear path so each person understands what they're doing, and how what they're doing up takes us closer to our ultimate goal.
A Quick Look Backwards.
One of the ways we have done this is to talk about some of the past iterations of technologies that we've gone through. Doing this helps reinforce how much progress we've already made, as well as to recognize which things really marked the ending of one phase - or the beginning of another.
Looking back, we identified seven major phases of technology. We agreed to call what we're currently doing version 7.0. We also agreed on which features and functions would constitute version 8.0. In other words, here is where we are ... And here is where we want to be.
A Clear Path Forwards.
Then, we identified five stages to get from here to there. The first stage will take about one month, and we're calling it version 7.1. The key is that the team understands that 7.1 Is an important milestone on the path towards a bigger goal. However, it's specific, measurable, and actionable. Each person understands what they have to do, and what the project plan looks like to get from here to there.
Accepting the Journey.
We talked about why version 7.1 was an important step for us. We discussed what it will entail, and how we will know that it's complete. Then we had each person sign the sheet indicating that they agreed with and accepted these specifications.
It sounds silly, but getting people to sign the sheet that documented a complete understanding of "who, what, when, where, and why" was important and freeing. It unlocked each person's unique abilities and gave them a clear path forward.
Think about an area in your business or personal life that could use a little more transparency, clarity and unconditional agreement. Perhaps this simple tool can make it better?
Hope that helps.
Capitalogix Commentary 09/27/09
Bernanke said that the recession is "most likely over"; but added that the recovery would be jobless.
Moreover, recent surveys show that many companies expect to shed jobs in the next 12 months and do not expect to reach former staffing levels before 2012. The question is: How will that affect the economy and the markets?
Are They Buying or Selling the News?
I'm paying attention to indications that the markets have begun selling-off after news. This is typical behavior near tops and during bearish swings. In contrast, during the recent rally, the Markets often went up despite bad news.
There Still Is Not Much Selling Pressure.
From a technical and market psychology perspective, we are seeing short spikes of intra-day selling that have not had much follow-through. However, it seems to me that fewer people are buying the dips and a bunch of negative divergences are in place. All that means is that it is time to watch major trend lines; they will tell you when something changes.
Is Something Fishy Churning Just Beneath the Surface of Our Markets?
Several articles claim that up to 40% of the volume in the New York Stock Exchange, recently, occurred in just four financial stocks: Bank of America, Citigroup, Fannie Mae, and Freddie Mac.
It could be normal, or at least something simple and innocent. Nonetheless, I am suspicious and a little skeptical that such a small group of low-priced stocks could account for such an unusual percent of the trading volume on the NYSE. Realistically, I doubt that it was retail investors jumping-in to drive the rally higher.
So was it churning, high-frequency flash trading, or a tacit government sanctioned way to allow certain funds and brokers to profit while making the markets appear healthier than they are? I don't know; but it has started people talking. And it is something that will stay on my radar.
The Changing Face of the Giants of Finance.
On a related topic, the NYTimes had a great interactive graphic showing how the Giants of Finance have changed. Since the stock market’s peak in October 2007, Wall Street’s landscape has been permanently altered. Lehman Brothers, gone. Bear Stearns, gone. Merrill Lynch, gone. Main Street’s landscape has also changed. Wachovia, National City, Washington Mutual and Countrywide, all gone. These financial giants all crumbled under the weight of the financial crisis.
Those that were left shrank down to a fraction of their former market capitalizations by early 2009, but since then, they all have grown. While most are nowhere near their former size, two — JPMorgan Chase and Wells Fargo — are slightly larger than they were at the market’s peak. Click the image to play.
Let me know what you think. Hope you have a great week.
Business Posts Moving the Markets that I Found Interesting This Week:
Lighter Ideas and Fun Links that I Found Interesting This Week
Posted by Howard Getson at 02:00 AM in Current Affairs, Market Commentary, Trading | Permalink | Comments (0) | TrackBack (0)