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RUN
WITH THE Big dogS™ newsletter
Volume 3, issue 31
Are you getting the most out of
Pareto's optimum? Perhaps you should hold point of focus
meetings with your direct reports...John
Management idea
Aldelpho Pareto noticed that about
20% of the pea pods in his garden accounted for 80% of the peas in the
final crop. Upon further investigation, this pattern of 80% of the
result coming from 20% of the activity was recognized as a universal phenomenon.
Over time this grew to be known as Pareto's optimum - or the 80/20 rule.
This rule is the single most important management tool created, and the underlying
principle behind prioritizing to do lists.
Following the completion of one of
our client's first strategic planning meetings, the CEO faced the
challenge of keeping the team focused on implementation.
Establishing
and maintaining focus across the organization is a key job and challenge
of the CEO. As hard as CEOs work to set priorities, the challenges
of day-to-day operations invariably work to pull their executives away
from that focus.
Our client initiated regular
one-on-one meetings with each direct report to measure progress against
the strategic plan and keep his people focused. These point of
focus meetings served as a means to track progress, establish a
sense of urgency around each discussion, and to remind and reinforce the
areas the team agreed to focus on. The POF meetings proved to be a
powerful tool in accelerating implementation.
RUN
WITH THE BIG DOGS™
Every
week the strategic planning facilitators of Myrna
Associates interact with the executive teams of the best managed
mid-sized companies in America. The weekly RUN WITH THE BIG DOGS™
newsletter shares an idea generated in one of those meetings. The
companion RUN
WITH THE BIG DOGS™ CEO interviews discusses a single management
topic with a mid-sized company leader.
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