The Great Game of Business Blog

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Reasons You Should Bring the Marketplace to Your People

May 27, 2020 by Rich Armstrong 1 Comment
Improve Your Year-End Outlook—Through Data-driven, High-Involvement Planning & Strategy Development Every business out there has been impacted by economic conditions in some way. While some have been forced to shut their doors, others have seen demand spike for their products or services. The devastating speed with which disruption has hit forced companies to make dramatic adjustments to cope and survive—or even to keep up and thrive. But short-term thinking will only get you so far. It’s now time to adjust your sights and start to look further out. It’s time to move past the uncertainty of today and begin thinking about what the marketplace is telling you about what your organization faces tomorrow.
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Practicing What We Preach at The Great Game of Business

Feb 5, 2020 by Cassie Potts 0 Comments
It’s one thing to teach a strategic planning process, but it’s another thing altogether to actually practice what you preach. Here at The Great Game of Business®, not only do we talk the talk, we walk the walk. 
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4 Questions to Ask for Successful Succession Planning

Jan 7, 2020 by Keith Boatright 0 Comments
At SRC Holdings, we see our succession management program as one of our most important strategic advantages. It is also one of our greatest challenges because our managers must not only be good at their jobs but also good at building and maintaining our culture. Every year, we dive deeply into our workforce and employment data to evaluate ownership succession planning results while actively supporting the progress and alignment of our strategic workforce goals. During this process, the big objective is to complete detailed strategic workforce planning. The goals of this process can be achieved by answering four basic questions: 
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Business Planning: Expect the Unexpected with Contingency Plans

Too many organizations get into trouble because they don’t have a proper planning structure. Even companies with a planning rhythm often only plan for what they expect to happen and the business they expect to deliver. In our experience, life (and business) is “like a box of chocolates”, you really can’t be sure what you’re going to get next! So, how do you prepare for the unexpected? What’s your backup plan? In business, you need to prepare for surprises in the marketplace by having a robust, proactive, and continuous contingency planning process. By business contingency planning, we mean a proactive process of planning for both the short-term and long-term security of your company. Our definition of contingency is a product or service that has already been researched, developed, and cost-justified, and can be activated on very short notice. It’s a key part of your sales planning process. So, what would you do if 10% to 20% of your revenue suddenly disappeared at this moment? Would you be ready to activate contingencies—a plan B?
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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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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.