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BTOES Insights Official
By
March 15, 2021

BTOES in Financial Services Live - SPEAKER SPOTLIGHT: Orchestrating Change: Key insights on driving successful global, multi-cultural transformation initiatives

Courtesy of Fiserv's Niloofer (Darbary) Narendran, below is a transcript of his speaking session on 'Orchestrating Change: Key insights on driving successful global, multi-cultural transformation initiatives' to Build a Thriving Enterprise that took place at Business Transformation & Operational Excellence Summit in Financial Services Live.

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Session Information:

Orchestrating Change: Key insights on driving successful global, multi-cultural transformation initiatives

Have you ever noticed how a strong and successful principle conductor can orchestrate the right instrumentalists to create fantastic music? Similarly, the key to success for an organization in the midst of change is to have a strong organizational framework that can orchestrate a cohesive change far more successful than if initiatives were driven individually.

Given today’s complex, global environment, many large organizations with well-intended strategies have been unsuccessful in their implementation. With individual entities working in silo’s driving their own charter, it is critical to have an overarching framework for ensuring that all the pieces fit together seamlessly. 

Using real-life examples, the session “orchestrating change”, will focus on the framework to drive the strategic vision and maneuver an organization thru ambiguous periods of change to emerge successful.

The session will focus on

  • The creation of the strategic vision framework
  • Three pillars for managing the framework
  • The top pitfalls

Session Transcript:

We have with us, Niloofer, the director of transformation of Fiserv. The Louvre, what a pleasure to have you with us, live from the body has more than 21 years of proven expertise, designing and executing on the strategic initiatives for global technology conglomerates. Like Phi Serve and hewlett packard.

Working across Asia, Pacific, Europe, and the Americas she had led multiple business, innovation and transformation initiatives around mergers and acquisitions. Go to market strategists, customer engagement models, and cost optimization.

In her spare time, she also is one of the founding members of the Global ... de koven 19 Task Force. And that task force is focused on creating more awareness of an X chromosome length genetic mutation. That impacts an estimated 500 million people, and it's and to understand the role of that chromosome during the pandemic. The Louvre from Culture and digital Transformation to Health Global Health Transformations, you're doing some a lot of very, very interesting work. And I'm very excited and honored to have you as a speaker for us today.

Thank you so much. Has it Just say that I say it right? You got it, OK, Hi, everyone.

I'm sorry.

Yeah, that's good. Go for it.

Oh, OK, great.

Not sure if you heard that, but, if you did, did you hear noise by any chance?

Are that sound great?

It was very faint. And the fool for I almost couldn't hear you or you couldn't hear it.

OK, OK, so I was playing a little bit of chaotic music, just as a heads up, and, you know, generally, just imagine noise and clanging, and I can round music from your kitchen, if you may.

Uh, And now, I'd like to play a little different views. I can tell me if you can hear this one.

Can you?

Yep.

Can hear a little bit faint in the background again, OK?

Any guesses for whose music this is?

And if you guessed it as Mozart's, that's right, that was Mozart Symphony, unfortunately, didn't play as loud and effective as I would have liked to do.

But anyway, so let's compare the two music: sessions and the first one was loud, chaotic noise.

Then, I'm sure got you a little confused about what's happening.

The second one which was Mozart Symphony is much more harmonized.

Synchronized, cohesive, and co-ordinated.

And what I like is there's a saying by David Umrah, and he says in symphonic music, when you are conducting, you're actually feeling the whole orchestra thinking ahead so you can prepare for change.

So, very similarly, in the session that we have today called Orchestrating Change. We will be talking about you as the principal conductor and how you can feel the orchestral within your organization. Think ahead and prepare for change successfully.

2-Mar-15-2021-09-55-58-46-AMSo, what's very interesting is this is a study done by the Bridge's Business Consultancy Group.

And, in a recent study, as late as 2016, they had interviewed 144 leaders across 38 different companies in 18 different countries.

And what is very interesting is that they found that, even if the strategies were well formulated, 67% of organizations fail in terms of strategy execution And, you know, a while, there's a lot of work and thinking that goes into strategy design.

Unfortunately, what gets missed is when you actually start trying to make this real in the organization and manage that change.

So like I said in today's presentation, I like to think of the role that I play as a Principal Conductor that's orchestrating change. What I have is, through my experiences over the last so many years, I've, I've got a strategic vision framework that I like to use for these initiatives.

I also want to talk to you about the three foundational pillars for successful based on my experiences so far, And then the big mistakes are the common mistakes that a lot of organizations do as well, make why executing these initiatives?

So let's start off with a little story. So let's imagine there's this little hot on the left-hand side of my presentation. It's it's a lodge.

And so you have mom, dad.

You have a beautiful teenage daughter, let's says, young. We have mom and dad have a set of twins.

Maybe eight years old. And then you have grandma who's living with the family.

Now mom and dad have a common shared vision. They want to move into this beautiful mention that's on the right.

And they know why they know that it's going to be very difficult to maintain. You know, and it's going to be much more work.

I in dimension, they're very excited. And, you know, they, they really think that they need to move to the next level.

Now, let us take up the twins: twins.

Of course, they enjoy playing in the forest, but they are very excited, especially when that talks about the pool. Linda mentioned that they're going to own up, and they're working towards it.

They get very excited and they bought into the vision, and they are ready to commit to whatever needs to be done.

Now, of course, the teenage daughter is A, at an age, where she is in love. And she refuses to move out of the area. She wants to be where she is, because her boyfriend, and let's call him Antonio, is right that, you know? So she's made it very clear that she has not bought into this vision. and she will not go.

What about Grandma?

Now, grandma enjoys the company of her kids. And she is petrified by them.

Because grandma is concerned is that she might be delegated to the restroom in dimension.

And then she won't be able to engage with her family and her kids and grandkids, the way she does today.

So, why you can see that this, obviously, by default, is it's an amazing vision to have a goal in terms of the family to achieve you, see that every stakeholder in the family is looking at this very differently.

Now, let's look at it from an organizational perspective.

We had one of our products that we were looking at where we wanted to be had a huge addressable market if we were able to take the product downmarket.

Btog CTASo we worked on a lot of topics and looked at different areas to get the price right. And let's get out there and get this market segment.

And when we trained the workforce, the first question that came up was, am I going to lose my job?

And obviously, we haven't done a very effective job of talking about that future state vision, or, you know, the area, the goal that we had in terms of what we were trying to achieve, And there was inherent fear of job loss and job signal. Job security is such an important topic for the organization today.

So what is very important is when you are looking at a strategic vision and a future state, and when organizations want to move to the future state, You need to take the entire organization along. And you need to have people buy into that vision, however fancy you think it is, or however good you think your vision is. You need organizational buy in, and the strategic mission. Framework actually helps from looking at it from a strategy design perspective To actually looking at the execution of that mission.

So, let's talk about the strategic vision framework a little bit. And, you know, it's not rocket science.

Basically, you look at the strategy driver that you're driving towards, And the first thing you should do is China Align it with the corporate vision.

So, what is your corporate vision, and how does your strategic initiative tie on the strategy driver that you're driving? How does that tie into that overarching organizational vision?

The second thing you would do is, you would look at the different, you would look at breaking down your strategic vision into different vision elements.

Once you define the vision elements, you look at building out work streams that can support these vision elements, and reaching that goal.

The work streams then go ahead and create their own goals and their own high level deliverables, and then all of that is put into an integrated plan of record.

So, the beauty of this framework, and like I said, it's nothing new.

It's just bringing it together, is to have strategy and execution in the same box and to be able to work, you know, concurrently in terms of strategy, and execution, on a regular basis to make it happen.

Now, let me ask you a question.

How many of you, right now, can tell me what your organizational vision statement is?

And think about it.

And if you do, if you do, know what your organizational vision statement is.

How many of you know what your business units, vision statement is?

And then, how many of you really know what you're doing, and how your work, Or maybe you are in the transformation office. So, you've probably, you know, this a little better than the others, but think about the employees.

How many of you believe that your employees on a day-to-day basis, understand what that vision is, and are working towards reaching that goal on a day-to-day basis.

Now, I've come across a lot of senior managers throughout my career, I'll wear one, no vision statements.

There, those lofty goals that you put up on the front slide of townhall, if you do, and that's about it, right.

Uh, Management doesn't have time for this. It's lofty, I have fires burning, I have, you know, things to do on a day-to-day basis. This doesn't get in that as much attention as it needs to, And even if you've spent time, and you've defined the vision, how are you actually executing, and how are you communicating that right to the bottom of the pyramid such, that everyone knows how the contributing towards reaching that overarching goal? So, that's what the strategy vision framework is, helping you to do.

And, you know, all this looks nice on theory and paper.

So let's take an example to see how this can actually work in reality.

So how do we make this real?

So let's take a hypothetical example. I have paws cannot share my internal strategy documents with you.

So I will use a hypothesis or a, you know, an assumption. So let's look at Phi serves organizational vision is to move money and information in a way that moves the world.

So let's assume that, for the payments, division, ARR, our goal, our vision, would be to become a fully integrated payments provider of choice globally. So that's our vision statement.

Now, how do you break that vision statement down into vision elements?

So I see three big pieces of work.

one is we're talking about going global. Right? We're talking about being a global provider of choice.

So what does global mean? Right. Which geographies are we planning to look at?

What type of growth are we looking at?

Is it inorganic is an organic, so those are a lot of questions that need to be answered in terms of going global.

When we think of becoming a payments provider of choice, again, ask ourselves what we can provide, in terms of products, right?

What is that statements provide of choice, and what are the different products that we need to support that vision, And become the payments provider of choice?

Now, think about it, if you did this in isolation, you would only think of all the most. You know, the most advanced, maybe data and analytics.

And, you know, let's do the latest, but the question is for these geographies that I'm now focused on.

For those geographies, what are the right products and payment products of choice that we need to think of?

And then the third part is talking about this fully integrated model. Right. now, when I say fully integrated, what does that mean?

28

Now, if this was fi, so, I know that I have a huge product portfolio, and the size of that we might want to integrate with So we'll actually have to prioritize the product portfolio to look at which products for which geography's would make the most sense.

Now, think of third party integrations.

Now, That's a universe, right? There's a whole, there's such a huge universe of third party products.

Now, which products would we want to integrate with?

And that's how we build out this sort of third aspect of it.

So once you identify the vision elements, and you've started designing the strategy in terms of strategy design, you are able to identify the work streams that are required to achieve this goal.

Now, let's come to the work streams. The work streams themselves will start defining their own goals.

In terms of the geographies, you might have a work stream that's focused on a specific region that wants to go very aggressive in some countries and not as aggressive in the others.

You might also have, depending on the geography you might decide on inorganic growth, or organic growth, or you might actually look at a third party partnership in that region. So there's a lot that the work streams have to define as well and build out their plans.

And then, oh, you have high level deliverables.

We're not looking at it as milestones on a project plan more broadly, in terms of what are the big ticket items that we expect to deliver in large chunks of work. And then all that is put together in terms of an integrated plan of record.

And now you can see that principal conductor that's actually going to off the street this entire vision and make it real, working with these different work streams that are spread out across the globe.

So, oh, this example that we took was about, at the business unit level, but sometimes we just have to work on a specific strategy negotiated.

And what I really like to do, is, I like to look at how does that strategic vision tie into that overarching organizational vision? So, how does it tie into your service line vision of as a time, to your business unit level vision? How does it tie into your organizational vision?

So everyone working on that strategy, can initiate them, really understands how they are contributing towards actually moving the organization forward, as well.

So, let's move on and talk about the three foundational pillars for successful execution.

And over the years that I have worked on multiple strategic initiatives, I find that there are three key pillars for success.

And, one is to maintain focus, and to gain buy in, and that is critical in an organization.

The second one is around the governance model, and we'll talk about this in a little more detail, you can have different governments, models, depending on the type of initiated that you are driving.

And the third, and the most important and critical piece, is culture and communication.

And culture, you can think of it at the individual level. You can think of it at the corporate level, you can think of it at the Nashville or the geographic level as well.

In terms of communication, I don't know if you've heard of the three C's of communication and they are communicate, communicate, communicate.

And I cannot tell you how important communication plays as a role, both in terms of managing upwards as well as managing downwards when you're looking at strategy initiated.

So what I would like to do is I'd like to take a few examples from my current and past experiences, working with different multinationals to give you examples across these three pillars and how we've made it work.

First example is talking about a product that we were looking at going downmarket again.

And we were looking at a specific client segment where we actually had to bring down the cost of implementations by half.

And one of the first things that we did is we engaged the SMEs in the different, you know, in the different groups that we're actually doing the web.

And we identified the problem statements of what, where the biggest chunks of work would lie in terms of bringing down this cost.

And we started.

The best part, is because the folks that were doing the work and would actually be using this model going forward, oh, we're a part of the solution.

We had buy in from that team, from day one, because, in fact, when I spoke to, for, some of them were like, I've been saying this for years. Like, Why don't we do it this way? And that's the fact that the folks on the ground have the best ideas, because they are the ones that are working on this day in, day out, and, by engaging them upfront, you're able to gain much, more buy in.

And they feel ownership towards executing and making this successful.

We also had looked at, as this analysis of where our costs out, and we actually worked with, I'm sorry!

You keep getting things, We did work with the answer to come up with what the target state goal was.

So that's delegate state goal of reducing the cost by half was very, very clearly articulated from day one, across the organization, and across the teams that we were working with. And everyone was focused on a very specific goal.

So let's talk about governance models.

Now, in terms of governance models, I don't think there's a one size fits all at all, and every initiator that you drive, you'd have to look at it from the complexity, the Dynamics, the situation that you're in at that point in time to look at what is the best governance model that would work for your organization and for that strategy initiative.

So I'm going to give you three different examples.

The first one is where we were moving from a publicly listed company.

To actually delist, we were one of the first companies to be list from a local stock exchange.

And we were getting merged into a global IT giant.

And the global IT giant had a captive unit. So we were merging the captive. We're merging with the captive unit and then, of course, aligning with the global IT giant as a subsidiary.

In this model, it was a merger of equals, in the sense both the captive unit and the publicly listed from had an equal say, in terms of strategy and design. And it was a two in the box model, where we were trying to look at the best of both was, and pick up, what would be the most relevant to move forward with. So, we had different work streams, and each of the work streams had representatives from both the organizations.

Screenshot (4)Now, it was actually a three in the Box model.

So on top of what, the 2, 2 resources that we had from each organization are the two teams that we had.

We also had global a global touchpoint and representation from the global corporate office that would help with corporate alignment as well as help as an escalation point when it was required.

So, that's one model.

The second model is when we this was a huge corporate initiative that was driven across multiple geographies and multiple business lines. And we were looking at moving from a more localized delivery model to a global delivery model.

And in this case, given the scale of the initiative, we had a corporate team that drove the strategy at the corporate level.

And then you had regional leaders in each of the regions that actually were able to, you know, look at the corporate initiative, make it relevant for that geography and work with the business lines in those geographies to make it happen.

And in this case, the business lines own and draw the plans, too, in terms of execution.

Now, the third model is, again, a very interesting model, Where we were trying to drive innovation through different centers of excellence.

Now, these centers of excellence were built on different technology and business process ideas. And they would have virtual pool of resources across the globe that were actually trying to come together to do great things, and innovate, and move us from us, from the terms of technology excellence and business process excellence. We were trying to move to the next level of maturity.

So we had a common charter.

And we had a common budget at the central level. And we actually worked with each of these different centers of excellence to help them with the innovation and driving their models forward.

So, as you can see, three different examples, and three different governance models, depending on the need of the art. And I must add, here. I have had fantastic mentors throughout my career.

I cannot tell you how important it is that have helped me through and have given me visibility to these types of initiatives, which I would not have had a chance to do so, otherwise.

So, let's talk about culture. And in terms of culture, I wonder focus on organizational culture in this case.

Now, when we were, I spoke to you about this publicly listed firm that was trying to be list And was now moving to become a subsidiary, a captive unit of a global IT giant.

We had an excellent management of change consultant that had come in and did a workshop with us.

And the workshop was basically to identify the attributes, all the different teams in the different organizations that are now coming together.

And what was very interesting is that you'll find on the left hand side, the tough ones. I think that's rugby, or if you're in the US, you know it as football.

So, obviously, you can guess, the publicly listed farm.

Aggressive got to get my numbers, but do, you know, what a bush got to get my way, that, that was the, that was the, the, the culture, the essence of the culture in the publicly listed bomb.

Now, compared to that, you think of the captive unit.

Working for a global IT giant, looking at, you know, new products and innovation and process, and building out stuff very sophisticated.

They were the portal players, and we actually attributed their, you know, the behaviors to different sporting events, which helped the team visualize and understand where each field was coming from.

And I think the most important part of culture is being aware, because, once you're aware, you recognize where the person's coming from, and can, you know, work towards a better outcome now. In this case, the management of cause was changing as well, right? The business model was changing. We were moving from listed company to a de listed company.

So the management team made a very concerted effort to look at changing the culture and merging these two cultures, and moving to a culture that would work in the new model.

So, the next topic I want to talk about is communication.

And we know you keep hearing this, I'm not going to re-iterate a lot of stuff that is common around communication, which is the right communication at the right time, all with the right context?

There's one aspect of communication, especially when you look with a global audience, that I feel is missed a lot of times. So I want to give you this real life example of what happened to me.

So to the left, you see that pink little fiat.

That's the kind of car that I grew up in, at one point in time. That's what my family could afford, as well.

And I hadn't driven a lot of it where I came from, and then I was very, very fortunate. Like I said, I've had some excellent mentors throughout my career.

Very early in my career, I got the opportunity to move to the headquarters of HP in Palo Alto, and welcome to very large strategic initiative at that time.

And I had, obviously, I hadn't driven, much at all in India, And I took, I realized, once I came to California, that I cannot survive without a car.

So, I decided to take a few driving lessons, and then once I've finished a few, I think I've finished two classes, I decided I'm gonna go and I'm gonna rent a car, and I'm going to drive with them.

So I rented the car, and I started driving around the Stanford University area.

And this happened.

And I look into my rear view mirror. and I'm like, oh, dammit, I've got to close that.

And so I stop the car, park and I go and I try and shut it. Then it's not shredding.

And two fellow students do male students, have a nice sportscar stop. And they're like, can we help?

And I'm like, yeah, my Dickie won't shut.

And they looked at me and then I I'm sorry can we help?

I'm like, yeah, my dicky one shot.

And of course, they looked at me like I was, You know?

This crazy woman, up to no good. And they decided that the best thing they could do was to drive away.

And I'm not making this up, so I wanted to let you know that.

This is from the Collins English Dictionary, where I grew up, what you call the boot, or what you call the Chung. Is what we call the Dickey. And The Dickey is an sourced compartment of a car for holding Luggage.

Now, as you can see, I did not do a good job of communicating my requirements to a global audience, and they obviously decided that the best thing to do was to drive a wave, which I would rightfully do, as well.

Now, let's translate this into the organizational context as well.

So, fast-forward a few years later, I was, you know, we had built out of back office team. In one of the lower cost geographies.

And they were supporting the European team with, oh, doing a lot of reporting and back office work that the team required, and when management changed, when the new management came up, one of the first things that they started discussing was to look at moving that work back to a near shore center, So center closer to home.

2-Mar-15-2021-09-55-58-46-AMAnd the reason provided was that they were not able to understand each other.

And I've seen this happen a lot in my career, where you do socked setting up these global offices around the world, and then, you know, you're not, you're not delivering outcomes, and you start thinking that It's poor quality of poor performance. The truth is next time onwards. I think you should think of the big story.

And ask yourself, have you done a good enough job of communicating your requirements to that team in such a way that they understand, and they're able to deliver what they need to back to you.

So, I'll leave you with that.

So, coming to the big mistakes, this is what I commonly found, you know, working on different topics, and, of course, learning myself, making the mistakes myself, and realizing what needs to be done.

one of the most common mistakes I find that organizations make is, you tend to get 2 or 3 of your smartest folks into a room, lock them up for a few days, and ask them to come up with this amazing plan, in terms of what needs to be done.

Or you hired an external consultant, which is also fine. And they will provide you with perspectives of how this is done in the different industries.

And you try and replicate it for your team.

But the truth is, what I believe is the SMEs in your organization are the best for people to help you understand the uniqueness of your organization and the best way to deliver on a strategy. And when you're involving them, you're also getting direct buy in from the team upfront. So I like to think of it as a one man band. You can only be so good if you're involving a small team.

When you start engaging with the SMEs, like Mozart's orchestral type, you have the violinist, you have different players that are making beautiful music and are experts in those domains.

When you start engaging that whole orchestra, that's when you get the best outcome.

So, the next one I want to talk about is singular focus.

Now, this is another, you know, another interesting example is, when we were trying, we, this was unfortunately WF, our exercise was a huge workforce reduction exercise at one point in time in my career.

And we were so focused on the reduction of cost reduction in terms of WF arawak, no layoffs. Unfortunately, that we forgot about the other aspect. So, I wouldn't say we forgot just so consumed by this. That the part around reskilling the workforce that was left behind the bots around the operating model and looking at the different process, changes that were required.

Looking at the metrics that we would now be measuring these teams, by, looking at the technology that we might have to change, because of this huge initiative that we were driving forward, all those aspects sort of move to the wayside.

And our only focus was, and we did an excellent job of it, of looking at how, how we could look at a more cost optimized model in terms of reduction, workforce reduction.

Now, in this example, again, you can have the violinist and the violinist can play a beautiful music.

But what about the rest of the orchestra, and think of orchestrating with all the different players coming together and actually working on it. If we had looked at it a little more holistically. I think, maybe, given ourselves the bandwidth to look at it more holistically, I think we would have had a much more effective outcome.

This one, in terms of rewarding wrong behavior, and I loved the visual there.

I think this is a very common one, and I see this in a lot of articles when I look at, you know, different topics on this, on strategy, Initiatives, and execution Is metrics, Looking at the right metrics. And I wanted to give you this example. So think of an organization where say, let's say you're looking at moving work off shore. So you've, given your team's a mandate.

I want 50% of your work to move off shore.

And historically, you have always measured your teams on utilization, which means you've got to keep the team busy.

Now how do you expect the managers to jive 50% of that work offshore and resources on-site when you continue to measure them on utilization on a regular basis?

I think about this as well.

You probably have a DNN model where your resources are driven by utilization right You, the more you get utilized, the more you get built and the more billable work you get.

You suddenly move from a DNN model to a fixed price model, which is now your resources have to be much more effective in terms of constrain the time period or effort to be able to deliver the same outcome.

And obviously, if you haven't changed the metrics, if you haven't changed the behaviors, they're going to continue to operate in that DNN model and make sure that they're utilized at the highest level, which is not at all helping you achieve your goal.

So one part is it's extremely important when you're looking at these strategic initiatives and driving towards a change that you're organizing your metrics and the key key performance indicators around the workforce that are relevant for that change. And sometimes, as a fine balance, you can drop one metric completely, but there's a fine balance in terms of how you think of it.

The last one, I would say, is, you know, looking at sponsorship. And I loved this visual. I think, you know, I've heard a lot of street bands and I think they are exemplary.

You know, you can make fantastic music as a street band.

However, if you give me penney's, this is what you'll get.

And if you look at Mozart, on the other hand, and his symphonie, and I wish I could have played it for you, you know a little more effectively.

If you look at Mozart Symphony and how it comes together, it's obviously working at a very different level.

And when I say sponsorship, I don't just mean monetary, and budgetary sponsorship.

I think that's critical, and it's required for it, especially for large change initiatives.

I'm also talking about time and effort from the organization.

A lot of times, senior management will give you this agenda, and they're so busy fighting fires on a day-to-day basis that they're not able to give you their time.

And also, within the organization and within while working with the SMEs, it's extremely important to get the effort and time spent on these initiatives and prioritize the initiative from a sponsorship perspective.

So I will end with a nice quote. I'm sure you've seen this before in every change presentation that you've, you know, every presentation you've attended on change.

28But I really like seeing it says, It's not the strongest of the species that survives nor the most intelligent.

But the one that's most responsive to change and you will as, the principal conductor are the ones that can actually drive the change successfully and can orchestrate the team to be able to be successful.

So, I will pause here.

Fantastic. Digital for thank you for, thank you so much for their insight. And as you were speaking, I was monitoring the questions coming in and I will relay them to you. We have about four minutes here for Q&A. And please provide your questions as as, as they come up. And the first question is about this, is such important topics that you talked about in terms of, alignment, in terms of the governance and the and the culture, and the vision elements? So on and so forth.

one, I wanted to call, one of the comment area that we had was that, it's often, it's, senior leadership is not aligned, right.

They do not have align common mental model about the organization's future, the vision, and the, and the often, you know, they, the senior leaders don't do a good job collaborating at the sea level, and in developing that. So, just curious about your practical experience with large organizations, at the sea level.

How do you get, how do you get senior leaders to collaborate more effectively in the, in, in creating this vision, and then, of course, communicating the vision, and having the discipline to carry through that vision no spot on. I cannot agree more.

I think it is absolutely a challenge.

I mean, I can tell you, I'll especially if you have organizations that are siloed already and you will see organizational structures. Depending on the dynamics of the senior leaders, that dynamic actually spills through, in terms of culture, across the organization. So sometimes it becomes extremely challenging, not just to work with the senior leaders, but also started working within the teams, Because the dynamics are very different. It is absolutely important. It is critical that the senior leaders are able to collaborate and engage.

And I, you know, like I said, it is a genuine problem because a lot of senior leaders are so caught up fighting day-to-day fires that they don't have time for this. But it is where I have seen it successful, is where we actually have these workshops, these future state vision workshops, on a regular basis.

With the senior leaders coming together, working on what they think needs to be the next big thing, or how they want to move forward. And sometimes, in a smaller organization, it's that one leader, especially if you think of a startup, right.

You'll note that, though, the founder has a vision, and is trying to bring everyone together. In the larger organizations, it's a little more difficult. But you might have 1 or 2 strong leaders that have a very clear vision, and can help sort of bring the team rally the team together. But it is extremely important.

It's important to get, you know, acknowledgement and, you know, array of, buy in from the senior leaders, helping with, defining that vision statement, coming together, to align on what, you know, the vision should be, and how to break that vision down, really helps. And then, of course, Continuous Sponsorship.

And, like I said, sponsorship includes time.

You need that time, you need to get them to attend. You acknowledge and push for the, moving that vision forward.

Very well, we have time for another 32nd answer here, on the, on the governance model. William Fuller asks, How strick a governance model, do you recommend?

Does he call for standard products and standard work at the execution level? So how strict is a governance model that you recommend?

Like I said, every initiative will have a different governance model, and I was reading an article from McKinsey a few days back as well, where they were talking about the organizational structures are, one, no, you have the typical organizational structures, And in an organization, which is who reports to whom.

But in the strategic initiatives, you are looking at more of the decision making process and how your governing yourself towards that decision making process. Like I said, there's no one size fits all for the governance model.

Screenshot (4)You'll have to look at the relevance of the work that you are doing, the dynamics that you have within the organization today, and then decide on what's the best governance model for that particular initiated.

And it could be loose.

It could be loosely structured.

It could be a very tight model, it depends on a lot of factors, very well.

The LEU for their body, thank you so much for sharing your expertise, getting comments here, great presentation, the big deal from culture, transformation to business transformation and digital transformation, from strategy to execution. So thank you for covering so much with us today, and the providing your insights. Our global audience appreciates that.

Sure. Thanks so much, Josie. Enjoyed it myself.

Thank you. Ladies and Gentlemen, that was a little further, Bharti to us talking about culture Strategy and Transformation.

The little for you can go ahead and toggle your camera off shell.

Thank you very much.

So, our next session will be at the top of the hour where we will will be with A, will be changing gears to technology, and, specifically, we're going to be talking about artificial intelligence powered, digital transformations. And we're going to have a true expert on artificial intelligence and data analytics. The leader of AI and data analytics at Dell is going to be with us. His name is Bill Wong, and Bill is going to drive us, through this. These transformation journey will power by artificial intelligence, So we're gonna get a little bit deeper on the technologists, they're empowering digital transformation in financial services organizations, and I see you back at the top of the hour with Bill on. Thank you.

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About the Author

Niloofer1-1Niloofer (Darbary) Narendran,
Director, Transformation Management,
Fiserv.

Niloofer Darbary, Director, Transformation Management at Fiserv Inc., is a seasoned professional, with more than 20 years of proven expertise driving strategic initiatives with significant top-line and bottom-line impact for global technology conglomerates.

Since joining Fiserv in 2016, she has lead multiple business innovation and transformation initiatives, around go-to-market strategies, improving customer experiences, and cost optimization.

Prior to joining Fiserv Inc, she was the transformation lead at Hewlett Packard Enterprise, and was involved in the design and execution of mergers & acquisitions, organization transformation and global delivery initiatives.

Her strengths include her ability to collaborate effectively and influence change, driving strategic priorities at the CXO level, as well as designing and executing on the framework to drive the change. She has an innate understanding of diverse cultures, working across Asia Pacific, Europe, and Americas.

She has been invited to speak at the prestigious PMI National Conference in India in 2010 and the SPPR conference in Slovakia in May 2015. Niloofer is also one of the founding members of a global G6PDD-COVID-19 taskforce, focused on creating more awareness of an x-chromosome linked genetic mutation, that affects approximately 500 million individuals worldwide, and its role during the current pandemic.

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