In the dynamic landscape of business strategy, two methodologies stand out for their effectiveness in goal setting and execution: the Four Disciplines of Execution (4DX) and Objectives and Key Results (OKRs). This blog explores the integration of these frameworks, offering a detailed guide for organizations aiming to leverage the best of both worlds.
2. Understanding 4DX
2.1. Origins and Key Concepts
4DX, conceived by FranklinCovey, is a strategy execution framework designed to help organizations overcome the chaos of daily operations and focus on achieving their most critical goals.
2.2. Core Disciplines
1. Focus on Wildly Important Goals (WIGs): Identifying and concentrating on a few essential goals that will make the most significant impact.
• Example: A healthcare company might set a WIG to reduce patient wait times by 30% within a year.
2. Act on Lead Measures: Determining actionable steps that directly influence the achievement of WIGs.
• Example: To achieve the WIG, the company may focus on lead measures like streamlining appointment processes or increasing staff during peak hours.
3. Keep a Compelling Scoreboard: Making progress visible to motivate and inform team members.
• Example: A real-time dashboard displaying daily wait times and improvements.
4. Create a Cadence of Accountability: Regular team meetings to ensure the focus remains on the WIGs and lead measures.
• Example: Weekly staff meetings to review performance and set actions for the coming week.
3. Exploring OKRs
3.1. The Genesis and Principles
OKRs, popularized by Google, are a goal-setting system that encourages organizations to set ambitious goals and track measurable results.
3.2. Core components
1. Objectives: Broad qualitative goals that align with the organization’s mission.
• Example: “Enhance patient experience and satisfaction.”
2. Key Results: Specific, measurable outcomes to gauge success.
• Example: Achieving a 90% patient satisfaction rate, reducing appointment cancellations by 20%.
4. Comparing 4DX and OKRs
While 4DX is execution-centric, focusing on the ‘how’ of achieving goals, OKRs emphasize the ‘what’ of the goals. 4DX excels in creating accountability and discipline in execution, while OKRs promote setting and aligning ambitious, measurable goals.
4.1. Proposing a Hybrid Approach
Integrating these methodologies combines the disciplined execution of 4DX with the aspirational goal setting of OKRs. This approach begins with setting broad OKRs, identifying WIGs from these objectives, and then defining key results and lead measures, with a 4DX-style scoreboard tracking progress.
4.2. Benefits of the Integrated Approach
This hybrid model fosters a balanced approach to strategy execution, ensuring goals are not only ambitious but also actionable and measurable. It encourages teams to think big while providing a clear roadmap to achieve these goals.
4.3. Implementing the Hybrid Model
For successful implementation, clarity in communication, regular check-ins, and a culture that values both ambition and execution are essential. Avoid the pitfalls of overcomplication and ensure alignment between the broader objectives and the day-to-day actions.
The integration of 4DX and OKRs offers a powerful framework for organizations seeking to combine aspirational goal-setting with rigorous execution. By adopting this hybrid approach, businesses can enhance their strategic execution, ensuring that their lofty objectives are grounded in actionable and accountable steps.
It’s a strange story in Vietnam – businesses also have pain, and this pain is even more damaging than a broken heart. If not resolved quickly, it can make the boss’s company difficult to succeed, with a declining business situation, a poorly functioning system, no revenue, and being trapped in a “hair’s breadth” situation in the midst of an economic crisis that can sweep away any weak company on its way.
So what is a weak company? It’s a company without vision, poorly executing its business plan, and disorganized in its operational structure. Its leaders make frequent mistakes, relying solely on their “intelligence,” neglecting the need for continuous learning and improvement.
Dear bosses, Steve Jobs once said, “To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.” The purpose of business and the dreams of most companies all aim towards billions of dollars, but to achieve that, we must execute step by step. Business is not a lottery where we can instantly become successful, money comes and goes easily. Business is a problem of accumulation, creating surplus, flexibility with the operation mechanism of the market, understanding and managing demands, coordinating with a smooth team to produce the best and most timely products.
I. 4 Steps to turn business plans into reality
To turn business plans into reality, you need to go through 4 steps in the following order:
Set business goals
Business goals are one of the most important steps in shaping the entire “lifeblood” of the organization. The closer the goal is to the business strategy, the higher the conversion rate into effective actions. There are 3 things that make up a perfect business goal:
Specificity: The statement should be as short and easy to understand as possible.
Measurability: The goal must be measurable by numbers and data so that you can know exactly where you are (for example, “Have over 100 new customers registered before March 1” can be measured).
Result-oriented: Aim for upward direction (for example, “Increase sales by 20% this year” contributes to achieving the company’s general goal of making a profit).
2. Carry out the execution
Start the execution phase, deploy it into reality including:
Break down into small goals
Calculate completion time
Assign tasks to suitable personnel
Manage issues that arise
Resolve internal conflicts
Predict the impact of external factors and the ability to cope.
⇒ Most Vietnamese businesses are broken at this point. Without this point, there are other points. Even though they have tried very hard, they cannot find a suitable method and tool. All the hearts, abilities, and gray matter are gradually depleted, as if being oxidized at the speed of light. Most people no longer have the courage to continue on the path of conquering success.
No problem, the execution process now has Simplamo software to handle most of these broken points, shortening the extreme distance to reach maximum growth, the thirst, and conquering the great love of business owners.
3. Measure effectiveness
This step summarizes the data that has been measured during the execution process. This will be much easier because based on step 2, the hardest step has been unlocked, and you can almost run smoothly on the path to your goal.
4. Persevere to the end
If the first 3 steps are successful, there is a high chance that the leaders will continue to implement and take off to become a large-scale enterprise, reaching far on this growth avenue.
In summary, the first 3 steps must be done properly and accurately for the possibility of maintaining stable results because the team has become accustomed to an effective workflow towards productivity.
II. Simplamo takes on difficult tasks and turns pain points in execution into the most feasible thing in the world.
Thanks to technology’s excellent storage capacity and super-easy operations, where all you need to do is search Google, and of course, you don’t need to be a doctorate to do that. Simplamo has created software that helps manage and operate businesses with modern management thinking, saving years of hard work with chaotic, disjointed operations that lead nowhere, with no clear vision or direction. You can rest assured now that Simplamo software is available!
Specifically, Simplamo has tools to address all errors in the execution process:
As most leaders have big egos, it is very difficult to reach a consensus in the board of directors. However, Simplamo has a tool that builds a core vision and goals with 8 simple questions based on modern management models from the United States. This helps leaders look in the same direction and leap quickly into a broader world.
Responsibility charts specify tasks for every position in the company, from the top five core roles to each individual, because transparency and simplicity help “minimize misunderstandings” within the team.
Business processes are set up according to each industry group, and all suggestions are integrated into Simplamo software, with pre-made templates, just one click and it’s done – you don’t need to be a doctorate to do it.
All KPI target indicators are tracked on the Scorecard and discussed continuously to suit business conditions and market flexibility. Files are exported quickly and conveniently for report printing.
One-on-one dialogue increases empowerment – that reflects the greatness of a boss (Level 5 leader according to Jim Collins – author of the book Good to Great), pushing employees into bold tasks, allowing them to take charge of tasks to discover how good they are.
Decisions are made confidently thanks to data with a basis stored on the software.
The Weekly Meeting tool solves tons of broken plan execution issues – Effective Weekly meetings, with a pre-existing framework, 7 specific steps, all linked together and automatically creating issues when they arise continuously. If it needs to be urgently solved, it will be added to the To-do list, if it takes longer, it will be listed under the precious Rock target to be completed. PIC for each individual, rotating to coordinate meetings at the BOD helps middle managers strengthen their management and avoid relying on the big boss.
Simplamo is more than just software; it embodies the passion and intellect of engineers who constantly strive to improve and update the product to become smarter, gain a competitive edge, and especially help many Vietnamese businesses achieve sustainable growth. Let us journey together and emerge victorious.
The growth of the company is the ultimate goal and benchmark for Simplamo, and with all its heart and desire, Simplamo believes that all operational pain will be transformed into zero, paving the way for bosses to thrive and maximize the development potential of their businesses – Super growth – Super profits.
Simplamo is a modern and scientifically-based management software that uniquely combines KPI and OKR, making every aspect of operation simple and approachable for every employee. It relieves pressure for leaders, allowing them to focus on important missions and optimize work performance for the business.