Moving parts in sync
This has been a big week for NAFCU. IÃ¢ÂÂm in Las Vegas with several staff hosting our largest conference of the year Ã¢ÂÂ 1,200 attendees. Thanks to a lot of strategic planning and excellent execution (thanks to staff), the conference is going strong.
These two things Ã¢ÂÂ planning and execution Ã¢ÂÂ go hand in hand. While walking our conference venue, The Venetian Las Vegas Casino, Hotel & Resort, I canÃ¢ÂÂt help but notice all its moving parts Ã¢ÂÂ the hotel, casino and restaurants Ã¢ÂÂ and how they all come together to provide one seamless experience for guests. This is NAFCUÃ¢ÂÂs goal at each conference (as well as in the management of NAFCU itself).
The Harvard Business Review blog says this about execution: Ã¢ÂÂThe execution phase forces you to translate your broad-brush conceptual understanding of your companyÃ¢ÂÂs strategy into an intimate familiarity with how it will all happen: who will take on which tasks in what sequence, how long those tasks will take, how much theyÃ¢ÂÂll cost, and how theyÃ¢ÂÂll affect subsequent activities.Ã¢ÂÂ
Here are the blogÃ¢ÂÂs three recommendations to ensure effective execution:
- Communicate the key points. For NAFCU, this means making sure each employee knows where they need to be at any given time and having the knowledge they need to make their role a success.
- Develop tracking systems that facilitate problem solving. This is NAFCUÃ¢ÂÂs 47th Annual Conference. We keep track of what works and what doesnÃ¢ÂÂt work.
- Set up formal reviews. Yes, review your plans and review them again Ã¢ÂÂ and maybe again Ã¢ÂÂ before itÃ¢ÂÂs time to execute them. And then review the plans after.
By the way, if you are interested in ever attending one of NAFCUÃ¢ÂÂs stellar conferences, check them out here.