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GrowthDNA Assessment for Bank of America

Lorie Whitaker: lbwhit@me.com

Confidence: 48

GREEN

A score of GREEN (45 or more points out of 50) indicates that you are doing well in this area. A score of YELLOW (32-44 points out of 50) indicates that you have some things in place, but could do more in this area. A score of RED (31 or fewer points out of 50) indicates that you have work to do in this area.

Your organization gathers relevant data and translates it into information, which guides decision-making. Metrics extend beyond financial measures into market driven insights—where your growth opportunities reside. Your organization cares about customer profitability and has some means to track it. You tend to be outcome driven rather than activity driven in that you use metrics, not work effort, to assess results.   Your organization pays attention to the market and values “outside-in” data or market-facing data around customers or competitors, as much as it does internal or “inside-out” data.

As a result, your company should be regularly identifying new market-based opportunities. The risk factor of pursuing them is mitigated by the data, which assures you that they these opportunities are real and significant in scale. Having ideas is not a problem for your organization.

If you are not seeing the results expected from these insights or seeing them fast enough or just want to take them up another notch, let’s talk about how to make that happen.

Clarity: 39

YELLOW

Your organization is putting time and effort into developing a strategy. You have a plan in place that has been communicated and expectations established for how to compete in the marketplace. Beyond that, it is likely that your strategy is not as complete in painting a picture of the desired future.

It is possible that what you are creating is more of an operations or business plan—one that builds on where you are with goals for incremental improvements in what you are currently doing. There may be some lack of clarity around top priorities because every department is competing for the same resources. Your plan may be subject to historical bias and beliefs rather than built on hard facts.

To ensure you maximize the results from your strategy, be sure you have adequate “outside-in” insights from your discovery work, where you assess the company the same way a customer might, and the strategy you create steps back to look at the future first—where you could be—before you decide what to work on next year. Don’t assume that getting better at what you already do will earn more dollars in the marketplace. It may save money but it won’t take your organization to a new level of performance.

If you are interested in improving strategic clarity and focusing on big wins, let’s get together to determine how to best strengthen this strand of DNA. We want you and your entire team to be energized by strategy and achieve your potential!

Commitment: 50

GREEN

Your organization performs the activities necessary to get everybody on board with a new plan, project or direction. You value communication as a tool to ensure people not only understand where the company is going but are committed to contributing to a positive outcome. You have systems in place to track success along the way.

The work is not owned exclusively by leadership; all employees have the opportunity to make a difference. You have taken the time to translate the strategy into an action plan with specific projects, due dates and assignments. You understand that resources have to line up with priorities.

Your ability to marshal your most valuable resource—your employees—in an aligned way, holding them accountable for results will take you further than most. When you make announcements about a new endeavor, the energy is palpable in the organization. People are excited because they know what needs to be done and they know they have the skills and tools to do it. Employees ability to understand the direction and suggest ways to move the organization in that direction will enable the organization to get further than a plan that begins and ends in the leadership board room.

If the organization has communicated the strategy and is not seeing the accountability necessary for success, it is possible that there are gaps in clarity of strategy, or specificity of the action plan, or metrics that hold people responsible for results not just actions. Those are all correctable and a slight adjustment could earn you big dividends. Let’s get the ball rolling!

Culture: 44

YELLOW
The culture has elements of growth-mindedness but it is not consistent. You may find that although communication is a priority, employees are hesitant to speak up and ask questions or volunteer for projects. That may be because for whatever reason, it wasn’t encouraged in the past. Perhaps in the recent past there has been a mindset of cost containment, which feels a bit at odds with growth.

Employees may not know what is expected of them or how they will be evaluated. At the end of the day, employees want to be clear about how they can excel and advance. Without information about how contributions will impact them they can be slower to respond. It is possible that the decision-making is primarily a function of leadership and not diffused through the organization. Employees may feel they are typically told what is needed rather than encouraged to make contributions.

One of the best ways to find out where you are in the development of a growth-minded culture is to ask employees. What gets in the way of their success? How can leadership better support their growth and contributions? How much and what type of communication is effective? Once you discover what is right and what is not quite right, you can begin to implement new tools, practices and processes which leads to new behavior. And new growth-minded behavior is what GrowthDNA is building, It is essential to not only achieving success but also sustaining it year after year.

If employee’s actions are not aligned with their verbal commitment, chances are they feel risk in tackling new behaviors. It is up to leadership to create a culture that inspires, motivates and rewards employees for adapting their work product, their thought processes and their own self-development to enable the company to reach new levels of success. To excel at growth, this DNA strand would benefit from being more consistent. Together we can determine the best way to get that done.

Overall: 181

GREEN

Overall, you score green.

You are performing at a higher level on GrowthDNA than most of your peers.

Because your scores are already consistent with growth–mindedness I suspect
you wouldn’t mind if your outcomes reached even further to amazing levels never
before achieved. At the very least your results should be beating the market—consistently.
If they are not, there are three actions you can take:

  • Do nothing and hope to evolve over time to greater success.
  • Pick one area to improve and focus on that. Many of the principles needed to achieve GrowthDNA are outlined in the book Reignite: How Everyday Companies Spark Next Stage Growth. The book discusses best practice for each of these phases.
  • Let’s chat and discover what YOUR organization needs specifically to take it to the next level.

For more information, contact us.

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