I have recently participated in the preview of one of the courses of the Stanford LEAD program called “The Friction Project: Leading Successful Change”.
Change initiators with decision-making power in financial organizations often dedicate more time building up the details of CTB projects than evaluating if the RTB would be appropriate, feasible, and timely. Are the efforts worth the cost?
The live course and assignment, led by the Professor Hayagreeva Rao offered a profound framework to diagnose situations when organizational friction is miscalibrated.
The critical questions to ask are such as the costs and safety of failure, the impact of delays, team capacity and the distribution of workload. My takeaways are the following:
• Do not underestimate the importance of subtraction, remove obsolete processes
• Balance the speed of change to ensure quality, safety, and commitment - high speed might lead to scarcity mindset
• Consider following the concept of "Jidōka"; use checklists for critical steps
• Learn from mistakes of your competitors.
Many thanks to Marineh Lalikian, the LEAD Director, for introducing us to the learning opportunities of this course.
Thanks a lot to the Course Facilitator Theresa Lina for supporting our learning journey throughout the week.
#StanfordLEAD #ChangeManagement #LeadingChange #Innovation #Stanford
Past President - Moore's Lodge Resortominium
4moOutstanding background. Worked with senior executives of AIG for many years on both US exposures and tough risks with exposures overseas. When you get into your 80’s the memory brings back some creative moments.