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As International Financial Reporting Standards (IFRS) and fair value reporting gain acceptance across the globe, regions beyond North America are recognizing the need for the development of a business valuation profession in their country.
Monday, October 4, 2010
This is another post of a continuing series that describes the ideas in and use of my Circle of Impact Guides.
The Structure of the Organization needs to be aligned with its Purpose or Mission. The result is a more highly Coordinated organizational structure. It would mean that there is more Communication and Collaboration between groups, units, departments and levels of the organization. It would mean a clearer basis for making decisions about structural change.
Here's the important question to ask.
What drives your business? Is it your Mission or is it how you are organized?
If it is your Mission or Purpose, then you should see the people in your organization constantly changing how they do things to better fulfill the purpose of the organization. However, if it is the structure, then you'll see a high level of resistance to breaking down barriers, and opening up lines for Communication and Collaboration.
Let me put it another way.
Every organization that I know has a Communication problem. However, that problem is not primarily the lack of clarity of the Connecting Ideas - Purpose, Mission, Values, Vision or Impact. The core problem is how they have allowed the organization to develop into an integrated, yet compartmentalized system that does not allow for a higher level of Communication and Collaboration between people and departments.
This is why one of the main tasks of leadership is a focused attention maintaining alignment within the system with the Purpose and Values of the company.
How To Use This Guide:
Use this guide to ask questions about issues of alignment. Ask them this way.
How does the structure of our organization tangibly reflect our Purpose and our Values?
In our team meetings, how are values not being lived out in our interaction and collaboration together? How can we change this?
Are we organized to achieve our Vision for Impact?
Do we have a system of measures that help us identify the change we are creating? If not, what do our measures tell us? What relation to our measures have to our Purpose and Values?
The Circle of Impact Guides are intended to facilitate thoughtful interaction in conversation. The guides can help an individual see areas to address, or why things are working well. But their strategic use is as a communication tool that facilitates Collaboration that provides for an effective way to create organizational change.
Tomorrow, we'll look at how Impact Leadership Teams function.
This is one of a series of posts
that describes the purpose and use of my Circle of Impact Guides.
This guide is the most practical of the set. It is because it doesn't try to explain a set of concepts, but rather asks questions to gain clarity and direction. The value of these questions is dependent upon the consistency of their use. By this I mean, you can use them once, and gain some value, or you can use them on a regular basis and begin to see the Circle of Impact in the midst of circumstances everyday.
Using the Five Questions provides a way to both focus and broaden one's perspective. It focuses your attention on Impact. It broadens awareness by bringing the Three Dimensions of Leadership - Ideas, Relationships and Social & Organizational Structures - together in a unified picture. In addition, it provides a way for teams to stay on track by asking the same questions on a regular basis.
The Five Questions cover five categories that are important for organizations.
Change or the pattern and pace of Transition.
Impact or the Difference that is made by your Ideas, Relationships and Structures.
Who is being Impacted.
The Opportunities that come your Organization's Impact.
The Problems that are your responsibility to resolve.
If your team can answer these questions on a regular basis, you'll find that you see problems before they reach a critical stage, and are able to act on opportunities more quickly.
The Five Questions That Everyone Must Ask guide is a tool. As a tool, it becomes more useful through use. The guide can be used in three different ways.
As a Planning tool:
What is the Impact that you want from your Ideas, Relationships and Social & Organizational Structures in 18 months?
What will be the Impact of the Opportunities that we now have 18 months from now?
As an Assessment tool:
Currently, what is the Impact of our Communication with our constituents?
What are the constraints that inhibit us from fulfilling the potential Impact that we identify in Opportunities?
As a Problem-solving tool:
Is our Communication problem an Idea problem, a Relationship one or a Social or Organizational Structure issue?
Who is our ideal market for the Impact that we wish to have?
How To Use This Guide:
Take a copy of the guide, and transpose the questions to a blank sheet of paper.
Answer each of the questions the best you can.
Answer them first in the Assessment mode, then from a Planning perspective, and when the Fifth Question identifies a problem, answer the question to solve the problem.
Act on what you learn each time you answer the questions.
The guide will work for you if you give it your attention on a regular basis. The late Galba Bright used to answer the question every Sunday evening in preparation for the week ahead. Over the course of a year, Galba's website - Tune up your EQ -became the most visited Emotional Intelligence website in the world. He attributed this success to the focus that he gained through the use of the questions.
The Five Questions have no magical properties. They are just questions. But they are questions that lead to awareness and perspective, and from that position decisions can be made and actions taken that can enhance the Impact creating abilities of an organization.