When an executive is looking for a way to simplify how they manage their company or a business unit, I recommend the following system that I’ve used consistently over the years. You can use the following simplified 6-step Management System to run a business function and it covers most requirements of managing. Note that as the company gets larger, this system will get more complex but at a very high level it still summarizes the 5 key steps necessary to run a business or a business unit.
- Strategy – Design an aligned strategic plan
- Goals – set and track objectives (OKRs or MBOs)
- Execution – set up dashboards to track KPIs that measure execution
- Processes – clear & simple processes
- People – have a Talent Strategy to recruit A-level people & develop them
- Finance – carefully manage the financial health / cash flow
I’ve been using this as part of the overall CHAMP System so I call this the “CHAMP 6-Step Management System”for managers at any level or business unit, from a VP of Sales to a manager in Marketing or anyone else in your organization.
What else and what are some other simplified Management Systems have you used?