Cultural Levers – Values & CBS Workshop
Colfax Vision – Context For Values & CBS
We are dedicated to creating an enduring premier global
enterprise built on a unique business culture that…….
• Does all things with integrity, respect and candour
• Has a deep commitment to excellence to associates and
customers as its foundation
• Is known for consistent delivery of world-class
performance
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Where Are We Headed?
Group Exercise – Fill in the missing blanks!
• To be the world’s leading application engineer providing lifetime
solutions in air and gas handling
• 2015
o Operating profit ??% (from ??%)
o Sales + ??%
o Working Capital ?% (from ??%)
• Values led performance culture
• Values & behaviours in performance management
What can you as leaders do to contribute to these goals?
How will Values & CBS support you to making this contribution?
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Living Our
Values
Values – workshop aims and objectives
Aims
•
•
•
Introduce Colfax values in the context of your business
Confirm how you as leaders will live out and support the Values and
behaviours
Confirm your leadership roles & responsibilities in relation to
upholding & embedding Colfax Values
Objectives
• You will gain insight into how successfully you currently role model
our Values
• You will be able to identify behaviours that underpin and exemplify
our Values in your teams
• You will be able to consider Values & Behaviours in relation to the
PMP
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Values – what do you think?
• Objective is to get you to think about Colfax’s values
• I am going to ask 4 questions (5 minutes per
question)
– For each question, you need to stand in front of the
appropriate Value
– Go with your ‘gut feel’ & don’t just follow others – own your
choice!
– Think about why you have chosen the particular Value
• What do you like about it? What do you struggle with?
• What are the challenges facing you and the Crude & Coking
Team in living out the Value?
• We will have a chance to share our thoughts and
have a brief discussion
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Why the mandate for Values?
• “when Participants demonstrate company values, company
stock appreciates by 1.1percent” - Watson Wyatt
• “Corporate values helped save Xerox during the worst crisis in
our history ……… living our values has been one of Xerox’s five
performance objectives for the past several years” - Xerox, CEO
Anne Mulcahy
• “Change may not happen overnight, however as we learn and
better understand how to live these values I know they will
become the true bedrock of our Company, and that Colfax will
become the world class company that we all envision” - Steve
Simms, President & CEO Colfax
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Customers Talk, We Listen
Maintain a constant focus on quality and speed
Create unique, value-added and differentiated solutions
Execute robust, repeatable processes that consistently meet or
exceed customer expectations
Promote positive problem resolution
Earn our customers’ business
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The Best Team Wins
Exhibit high integrity and respect for others
Seek fact-based, root-cause solutions, not blame
Be non-political and non-bureaucratic
Demonstrate a high sense of urgency
Have a strong level of accountability
Strive for a safe work environment
Take satisfaction in being a valued member of a winning team
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Continuous Improvement Is Our Way Of Life
Step out of comfort zone by setting stretch/breakthrough
objectives
Demonstrate mastery of CBS tools to help build process
capability
Experiment and learn every day
Eliminate waste proactively and continuously in every aspect of
our business processes
Benchmark the best, and then better them
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Innovation Defines Our Future
Generate breakthrough ideas for technology, products,
solutions and processes
Provide differentiated customer solutions
Create products and services that improve quality of life
and environmental stewardship
Deliver above market growth
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We Compete For Shareholder Value
Develop strong, comprehensive strategic plans
Build effective operating plans to execute
the strategic plan
Drive toward absolute best-in-class
results to maximize profits, working capital
and cash flow
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We Live Our Values
CUSTOMERS TALK, WE LISTEN
The voice of the customer will always drive the development of our strategic plans and actions.
THE BEST TEAM WINS
Team-oriented, involved associates are our most valuable resource, and we are passionate about
attracting, developing and retaining the best talent.
CONTINUOUS IMPROVEMENT (KAIZEN) IS OUR WAY OF LIFE
Set breakthrough objectives, experiment and learn every day, eliminate waste in our business
processes, and benchmark the best, then better them.
INNOVATION DEFINES OUR FUTURE
Individual and organizational creativity will drive breakthrough ideas for technology, products,
solutions and processes.
WE COMPETE FOR SHAREHOLDERS BASED ON OUR PERFORMANCE
To consistently attract and retain loyal shareholders, we must deliver best-of-class results for profits,
working capital and cash flow.
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Embedding Values – PMP overview
- Integrates the Colfax Values into the performance
management process
- Reinforces our performance-based culture by including
and emphasizing achievement of individual performance
objectives
- Establishes a consistent review process throughout all
businesses
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Values – Role Of The Leader
• In groups of three or four, define a short statement that
describes the role of senior management in relation to
embedding Values
• Explore what actions you might take that illustrates your
commitment to developing a values led culture
• Describe the top three actions required to illustrate “what
good looks like” in relation to your role definition (What you
specifically have to do/be)
• Present your rationale to the other group
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Values Led Performance Culture
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•
Brainstorm as many leadership challenges as possible that you will
face in truly embedding a values led, performance focused culture
•
Rank the top 3 challenges from the list and record on the ranking
chart/decision matrix
•
Calculate the top 3 for the group
•
Use 5 whys to identify potential root causes
•
Brainstorm what potential actions might be taken to resolve them and
record these on must/could/should flip charts.
•
Agree one “must do” SMART action for each challenge
Performance Excellence
CBS
CBS – workshop aims and objectives
Aims
•
•
•
Introduce CBS in the context of your business
Explore how you will apply CBS and its implications on how your
business operates
Confirm your leadership roles & responsibilities in relation to
upholding & embedding CBS
Objectives
• You will gain insight into the key CBS tools
• You will be able to determine how to begin to apply CBS into your
business
• You will be able to consider how CBS will support the integration of
your business into Colfax
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CBS – What is it?
Group Exercise – 10 minutes
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•
How would you describe CBS?
•
How do you think it will make your business even better?
•
How will CBS help your business to integrate into Colfax?
•
What is new / what is the same with how your business presently
operates?
CBS – What is it?
It is what we do, how we do it and why we do it (the difference we make)
A Consistent and Reliable
track record in World Class
Performance is achieved
when we:
•Listen to the voice of the customer,
responding to their needs and performance
expectations, establishing measurable goals
for delivering World Class performance in
Quality, Delivery, Cost and Growth.
•Enable the best team of people to develop
a solid strategic plan, supported by a
disciplined process that delivers customer
value.
•Leverage a culture of Continuous
Improvement in order to continually improve
against high performance targets.
•Apply our improvement effort to those
processes and activities which are value
adding and which contribute to meeting the
performance standards required by our
customers.
•Work together as winning teams to achieve
these goals.
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CUSTOMERS
TALK
WE LISTEN
THE
BEST
TEAM
WINS
CONTINUOUS
IMPROVEMENT
(KAIZEN) IS OUR
WAY OF LIFE
INNOVATION
DEFINES
OUR FUTURE
WE COMPETE
FOR
SHAREHOLDERS
BASED ON OUR
PERFORMANCE
CBS Leadership
Quotes on Culture
• “We have hired talent that valued our strategy but
after a short time did not identify with our CBS culture
and either left or transitioned.”
• “We have acquired businesses that are struggling to
align their associates in a committed way to CBS – and
their results reflect this.”
• “When strategy and culture clash, culture wins” – Lou
Gerstner (former CEO IBM)
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CBS Leadership
Cultural Perspective
The Colfax CBS culture is:
• an unique, sustainable competitive advantage
• not easily replicated
The CBS concepts, tools, and values facilitate a process and
results oriented culture enabled by:
•
•
•
•
stretch goals
disciplined execution
clear accountability
passion for winning
We must understand the elements of the CBS culture to:
• drive our success
• provide clear and consistent communication
• reinforce and perpetuate the CBS culture
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Process and Results Culture
Core Leadership Elements
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Process
Results
Policy Deployment
Breakthrough results
Daily Management
KPI results
Countermeasures
Root cause solutions
Kaizen events
Continuous improvement
Lean tools
SQDC(WC) results
VOC
Customer satisfaction
Growth tools
Growth and innovation
Talent review
CBS leadership capability
CBS Immersion for Senior Leaders
Definition and Purpose
What is CBS Immersion?
• A 4-12 week program for new senior leaders beginning the first
week of employment with Colfax.
What is the purpose?
• Immerse new hire in the tools and culture of CBS system before
the leader becomes deeply engaged in their new position
• Rapid assimilation into the business through active participation
in Kaizen events, Policy Deployment meetings, and Operating
Reviews
• Build a network of associates across the company
• Understand the role of leaders in driving CBS and our values
• Confirm expectations going forward in position
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CBS – Where Do We Begin?
POLICY
DEPLOYMENT
STRATEGIC
PLAN
DAILY
MANAGEMENT
KPI’S
VALUE
STREAM
MAPPING
•
•
•
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FOCUS FOR
OUR KAIZEN
EVENTS
World class performance starts with the creation of a strategic plan which takes into account the voice of
the customer.
The approach we will adopt in delivering performance improvement will derive from one of 3 sources;
performance issues highlighted by existing management KPI’s; opportunities for continuous improvement
highlighted via value stream mapping activities ;and breakthrough improvement opportunities as identified
by Policy Deployment.
We employ the CBS toolkit and Kaizen methodology to facilitate delivery of our performance goals and
ultimately the strategic plan.
CBS – Policy Deployment (PD)
•
Policy Deployment( PD) is a process
that facilitates the creation of:
Results-Oriented Business Processes
With
Sustained Improvement
That Result In
Sustained Competitive Advantage in Quality,
Delivery, Cost and Innovation
•
•
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The focus of Policy Deployment is not in the delivery of one off or incremental improvements to our
processes but is focused on delivering, in the eyes of our customer, Significant change to our processes
such that it requires the Organisation to stretch itself.
It relies invariably on cross functional teamwork, thinking very differently and challenging the norm in
other words engaging in “Breakthrough thinking”. The prize is characterised as “Big Wins” and process
changes which are Sustainable and can achieve improved results year after year.
CBS – The Toolkit
Using the CBS toolkit we can improve customer satisfaction, improve total business lead time
and eliminate unnecessary activities and costs that do not help our customers or their
business.
POLICY DEPLOPMENT
VALUE STREAM MAPPING
STANDARD WORK
5S - VISUAL MANAGEMENT
SETUP REDUCTION (SMED)
MATERIAL AND INFORMATION FLOW
VARIATION REDUCTION
TOTAL PRODUCTIVE MAINTENANCE
TRANSACTIONAL PROCESS IMPROVEMENT
ENERGY REDUCTION
3P/DESIGN
VALUE SELLING PROCESS
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CBS – Applies To Everyone
SALES
ENGINEERING
FINANCE
LEGAL
HR
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SUPPLY CHAIN
I.T.
MARKETING
MFG
CBS Leadership
Expectations
Colfax’s growth ambition requires leaders to:
• Hire/acquire the best talent
• Assimilate talent quickly into our CBS culture
Colfax holds our leaders accountable for:
• Ensuring their teams actively embrace CBS
• Creating a CBS culture and way of doing work
Newly hired and/or acquired leaders must learn fast!
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