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The 4 C's of Long-Term Business Planning

Nov 1, 2019 by Jack Stack 1 Comment
As you likely know, forecasting is an integral part of what we do at SRC Holdings Corporation. We come together twice a year to create a plan of what our organization will look like one year out, five years out, and even 10 years into the future. This is where our organization can, according to the legendary business writer Jim Collins, identify its BHAGs – or big hairy audacious goals. Whenever we wrap these meetings, there’s almost always a sense of euphoria among us: “Wow! We are going to accomplish some great things together!”  It's incredible to see everyone excited about where we’re headed together and what we plan to accomplish. But I want to push the pause button here for a minute because this is where a lot of organizations get tripped up. Putting your targets out there isn’t the conclusion. It’s just the beginning. 
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Why You Need to Connect Your People To Your Strategy

Sep 18, 2019 by Darren Dahl 0 Comments
A few years ago, the executives at banking giant Wells Fargo issued a new strategy for their business: the overall goal was to create long-term banking relationships with their customers. And to measure how well the company was executing on that strategy, they began tracking “cross-selling.” In other words, employees would be measured, and rewarded, based on the number of different accounts—from deposits and credit cards to auto loans and mortgages—a customer opened with the bank. The CEO at the time even coined a slogan: “eight is great” to illustrate the optimum number of accounts a customer might have with the bank.  On paper, you could argue that the more accounts a customer had would likely equate with a longer-term relationship with the bank. But, if you’ve been paying attention to the news for the past few years, you know that things went spectacularly wrong. 
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The "Why" Behind High-Involvement Planning™

High-Involvement Planning™, or ‘H.I.P.’, has been critical to SRC’s sustainability of The Game and its long-term financial success. H.I.P. has kept us focused and committed to The Game, primarily because it keeps it fresh and exciting by changing things up, year after year. It redefines our Game each year, with new Critical Numbers™, new financial targets, new challenges to conquer, and new goals to achieve. H.I.P. is also where we leverage the business know-how we have worked so hard to create. We use the collective knowledge of our team to raise our level of thinking from 90-day MiniGames™, to annual bonus plans, to 5 and 10-year visions for the company. The result of High-Involvement Planning is a vision—and a specific plan to achieve the vision.
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How Playing the Great Game Helps You Prepare for an Unpredictable Economy

May 15, 2019 by Rich Armstrong 0 Comments
Every day brings a confusing mix of news about the economy. It can be tough to gauge how things are trending. Just when things look like they might calm down enough for everyone to get back to business, a trade war escalates or economists decide to lower their forecasts for future growth. The good news is that few economists expect a recession to hit anytime soon: for example, 60 economists surveyed by the Wall Street Journal expect the next downturn in either 2020 or, more likely, 2021. But even if we aren’t looking at a recession tomorrow, all this turmoil should serve as a kind of alarm—a red alert to take action. If times are good in your business right now, you should be putting plans in place so that you’ll be able to handle the inevitable downturn to come. That’s where playing the Great Game of Business® can help. Here are four tips on how to prepare your organization to handle future turmoil:
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4 Types of Planning for Sustainable Business Success

  Springfield Remanufacturing Corporation (SRC) is well-known for High-Involvement Planning™ structure. Using this structure, we develop our strategic plans as a collective organization—involving literally everyone in the company, from hourly employees to management, in the planning process. While it might seem extensive, this process proves an integral component of our open-book management structure. Over the years, involving everyone at all levels of the company has also proven to repeatedly generate positive results. SRC uses four types of key planning that translate directly into our sustainable business success. Let’s dig deeper into each of these four key types of planning:
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Healthy Budgeting Means Cutting Fat—Not Muscle

Mar 5, 2019 by Rich Armstrong 0 Comments
 A few years ago, the Wall Street Journal ran an article about a practice called “Zero-Based Budgeting,” which is basically a cost-control process that was being embraced by big-name companies such as Heinz, Kraft, and Burger King. The idea is that companies don’t roll over budgets from year to year, but they have to make a case for new spending plans each year. This philosophy wasn’t new—Texas Instruments experimented with it a few decades ago—but it seemed to gain popularity with investors interested in keeping costs under control. That was especially true when it came to the Kraft-Heinz merger. But things apparently haven’t worked out.
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How High-Involvement Planning Accelerates Your Company’s Growth

Jul 27, 2017 by Rob Dube 0 Comments
For many years, when I would speak with Jack Stack about implementing the Great Game at my company, imageOne, I was usually explaining to him why it wouldn’t work for us. “We are unique,” I would explain to him. Jack would just snicker and shake his head. I remember those days vividly and now I know that he was right: business is business and the Great Game works for thousands of companies - why would mine be so different?
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Capture the Power of Your Employees Through High-Involvement Planning

Jul 27, 2015 by Spencer Williams 0 Comments
Co-authored by Scott Ogeka Without employee engagement, strategic planning can deliver questionable results. This sentiment often exists because companies lack a simplified process and a buy-in from informed employees. High-Involvement Planning is a key element of open-book management at SRC, West Paw Design and many other companies. This process does not require an outside strategic planning consultancy to help your company; instead it is a planning system that works inside the company.
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The Truth About Fables

Aug 19, 2013 by Matt Burtin 0 Comments
At SRC, we just wrapped up yet another sales-and-marketing meeting, something we hold twice a year as part of our High-Involvement Planning (HIP) process. The whole thing blew me away. Not only was I amazed at how much information we can generate about our business through this process, I was also struck by how good our folks have become at presenting and articulating the reality of their businesses.
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Ok, I Made A Profit. Now What?

Dec 10, 2012 by Bill Collier 0 Comments
If you're a business owner, I strongly urge you to budget for a reasonable profit target as a percent of sales, and then make your expenses fit in. The idea is to put profit front and center as a necessary outcome ... to make it happen on purpose, rather than let it happen by accident. Now, let's build on that idea. First, what is a reasonable target for profit before tax? It varies by industry but I suggest that most of us should be able to shoot for 10% of sales, pretax.
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Q4 Business Challenge: Planning for the Future.

Oct 18, 2012 by The Great Game Team 1 Comment
Every business leader / owner I know has too much to do.  That is particularly the case in the fourth quarter of each year.  The challenges include, but are not limited to: The ongoing need for solid short-term improvements to finish the year strong. Get an inclusive business planning process in place for next year. Tax planning to minimize taxes for the current year. Take care of personal / family commitments that tend to expand during the holidays. The fundamental challenge is between the short term commitments and the long term priorities, or as Stephen Covey put it, sharpening the saw versus sawing.  If you are sharpening the saw, you are not sawing, so the short-term production suffers.  But if you don’t sharpen the saw, longer-term production suffers.  Neither choice is very attractive.
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About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.