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Welcome to Innovation Meets Leadership! I’m your host, Natalie Born. In this episode, we welcome Alex Castro of M Corp. He discusses how to identify and address the root causes of failed strategic initiatives to make future attempts at execution more successful. He also shares his thoughts on recognizing and overcoming cognitive bias, utilizing data in decision-making, and being adaptive to change as an organization.

 

Alex Castro is an aligner of execution to strategy for digital transformation & innovation, best-selling author, and creator/founder of ReM Score™ Alex believes that the gap between ideas (strategy) and execution is a persistent problem that is sidelining too many high potential digital transformation and innovation growth opportunities.

 

[00:19] Bridging the Gap Between Ideas and Execution

  • Alex discusses how most companies can’t find the pace of acceleration because they don’t succeed in the execution

    • 20% of initiatives make it through, 30% deliver, 50% fail or are abandoned

  • What is cognitive bias?

    • Leaders rely too much on repeatability and believe that they built an organization that can adapt to any situation at any given time

    • The reality is everything is situational; past performance does not dictate the future outcome 

  • How ReM Score™ works and provides solutions through data

[09:02] Employees Want to Be Part of the Winning Team

  • $280 billion a year is lost in opportunity and potential in efforts that are abandoned

  • The morale drops every time there’s a failed initiative

    • This has a big impact on retaining employees 

  • It’s not about recruiting the best talent; it’s about figuring out the organization’s blindspots

[12:46] Strategies for Execution Success

  • Alex breaks down the 14 domains of influence that affect execution and organizations should understand these areas

  • People feel a sense of urgency to grow and innovate but it depends on how well they can execute

[19:30] Avoiding Rigged Decision-Making

  • We're inherently bad decision-makers because we want to push toward a certain outcome

  • ReM Score™ can help organizations be more strategic in making decisions

[21:47]  Closing Segment

  • Final thoughts from Alex

  • Connect with Alex!

 

Key Quotes:

“There's a hair's difference between the top team in a league and the bottom team. And it's really how well can they put the execution component together, right? You can have the best playbook in the world but if you don't know how to really tune that play in, it's kind of useless.” - Alex Castro

 

“Just because you were able to do it last year or you were able to do it in the last game doesn't mean it's going to work this game.” - Alex Castro

 

“The employees themselves are like, look, I want to be part of a winning entity here. And if you're continuously handing me stuff that I can't get done, I'm going to go find a place where I can start to connect to purpose better.” - Alex Castro

 

“The data's always been there and we've chosen to ignore it because for some reason we thought we're going to get past it. Figure out what's the little tuning that you need to do on a continuous basis.” - Alex Castro

 

Connect with Alex 

Website: https://www.alexcastro.io/, https://the-mcorp.com/  

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Season 3, Episode 21. Measure, Execute & Win with Alex Castro

16 October 2022