Leading the Transformation
Second day and guess what? Amazing stories and insights about the transformation journey DBS has taken to emerge as a more agile organization by Paul Cobban. I still remember a reaction from someone from audience when Paulo talked about “making banking joyful for both customers and employee.
The person said in clear and loud sound “Oh my!” following by a big and surprised laugh. Usually this the reaction when people talk about the benefits of agile mind set in big and traditional industries.My wife worked for a bank for many years and believe me! She and her ex-colleagues were not living a joyful moment there.
Paul did an amazing job in walking us through DBS’s journey and the main transformation points that drove DBS culture to a wining bank among competition that were comprised by a set of practices from lean, agile, design thinking, innovation, big data and motivated people looking for change. He make a joke about the meaning of DBS: Damn Bloody Slow but it turned out to be leading the market in Singapore’s area.
- Eliminate the waste: a lean approach to understand your cost per transactions or a simple metric that can help you identify waste in your day-to-day activities.
- Design from Customer Back: understand your client’s journey. Get close to their routine and get to know them and make all efforts to design your organization to serve and add value to them. The client is your boss not your manager, process and super fancy group of buzz words.
- Be data driven: when you are able to combine and match data (structured and unstructured data) with client’s information the magic happens. Decisions can be more effective and the impact in terms of value that client perceives is huge.
- Create a culture of innovation: Allow people to experiment and try new ideas then let them fail and learn from the experience. I bring this sentence with me every time I am struggling on how to implement something: Start small and grow fast!
- Codify the culture: make sure everyone is talking and walking the speech. Lean practices to eliminate the waste, design thinking, data and innovation culture. These are the pillars that might lead your organization and clients to a new level of joyfulness
February was the month selected for the first Business Agility Conference. In the core, authentic short stories and deep dive sessions focusing on organization design, marker disruption, product innovation and agile leadership. I want to share some highlights from both days that have caught my attention as well some interesting insights after eight deep dive sessions.
Introducing Business Agility
Steve Denning has opened up the conference with a very powerful insight: Agile is a mindset. That is it! In addition, Steve has explained about the friction that exist when you try to move forward with your agile team surrounded by a ton of bureaucracy making all transformation efforts being not sustainable. He has shared stories from big tech companies that have embraced agile in the core (mindset) and now these companies are thriving their way focusing on delighting customers. Using the Copernican example to illustrate how clients becomes the center of every decisions, Steve highlighted the importance of the agile culture that enable companies to move from a centric view to client centric view, surrounding their clients looking for ways to inspect and adapt their strategies into tactical plans that are based 100% on client’s needs.
Phil Abernathy has presented the maze and madness! Great insights on how structuring your business for agility. In other words, get rid of the madness and the maze! Phil has provided thoughts and examples on how such business structure looks like. First, understand the size and complexity of your maze: several hierarchical levels cross management systems, dozens of communication layers and complex metric systems. Then, here we are! Lost in the maze, trying to find maze runners that can help in finding the way out. The outputs (not outcomes)? Spending millions on isolated transformation initiatives, new buzz leadership roles and new departments organized in the same way but with fancy names and the madness is back again. Phil proposes a structured way to understand the impacts (unhappy customers, shareholders, and employees), symptoms and then the real root causes (complex organization structure, lack of trust and transparency, leadership talent). Start with big goals such as 40% reduction of time to market, 70 to 500% cycle time improvement, 30% cost reduction then test your hypotheses via pilots, inspect and adapt, course corrections and make it big from the core. Continue reading