Posted by: christopherfeld | April 3, 2011

Strategy models from Dan Nelson, CEO of Making Memories

Dan Nelson, CEO of Making Memories visited our strategy and leadership class to share his background. During his talk he mentioned a number of great strategy models he uses frequently. These include the RACI model, three questions to ask in each executive meeting, and impact achievability.

RACI Model

The RACI model is an acronym for Responsible, Accountable, Consult, and Inform.

Responsible. This element helps to clarify roles and responsibilities.

Accountable. Everyone in the meeting ought to know why they are in the meeting.

Consult. Members consult on their issues.

Inform. Members inform others.

This model pushes accountability down to the bottom. Helps people to know how clearly it will be for them.

Three Things to Ask in an Executive Meeting

  1. Month to date achievement against the budget.
  2. Year to date achievement against the budget. What is variance in both?
  3. Strategy. Are we strategically on target, and do we need to make adjustments?

Impact Achievability

Impact achievability is a handy-dandy 4×4. Impact can be defined in any way. Achievability is straightforward–whether it can get done. Thus, this model can give a sense of the importance of an item, and if it is feasible to accomplish.

High Impact

 

Low Impact

Low Achievability High Achievability

This model can also help to identify opportunity cost or the cost of what you might miss out on.

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