Innovation in Compliance - Compliance and the Chain of Value Creation with Simon Severino

Thomas Fox - Compliance Evangelist
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Simon Severino studied philosophy at the University of Vienna and later became a business coach at a global consultancy. Two decades of experience led him to found his consulting firm, through which he now advises business leaders about market strategy via his Strategy SprintsTM Method. Simon and I explore his signature methodology and how it translates into creating value in compliance.

The Problem of See more +

Simon Severino studied philosophy at the University of Vienna and later became a business coach at a global consultancy. Two decades of experience led him to found his consulting firm, through which he now advises business leaders about market strategy via his Strategy SprintsTM Method. Simon and I explore his signature methodology and how it translates into creating value in compliance.

The Problem of Strategy

Simon tells me that the problem was how to create a strategy. There are tools to analyze the market and figure out how to enter it. However, the tools to build an organized, aligned team that gets feedback quickly were missing. Since the executive team is removed from the market, they don't have closed loops. "For the last 15 years, I've been obsessed with just building that [tool]," Simon comments. "How can an executive team have an agile way of doing things so it feels like a sports team? That's what I've been building. That's now the Strategy SprintsTM Method, Strategy SprintsTM Company, and Strategy SprintsTM product, which is 90 days coaching executives."

The Chain of Value Creation

"I always see the whole chain of value creation or the chain that matters," Simon says. The chain doesn't stop at his clients; their clients are part of the chain as well. He says that compliance officers should consider how they can become a valuable contribution to the whole chain. He suggests that they see themselves as business partners. "Always see yourself as a business partner of your internal colleagues and… everybody serves the client out there," I respond that putting the customer first translates into greater profitability. It means you become a business generator instead of a cost center, and I tell Simon. We discuss Peter Drucker's contribution to management practice and how he influenced Simon's work. "My whole work is Peter Drucker's philosophy plus agile methods for the digital age," Simon comments. The concept of efficiency vs. effectiveness is one of Drucker's principles he adopts: "Spend more time on effectiveness, finding out what's the right thing to do in the first place."

Strategy SprintsTM

I ask Simon to talk about the key points in his book Strategy Sprints: 12 Ways to Accelerate Growth for an Agile Business. Simon responds that it's about asking yourself the right thing to do now. With broken supply chains and volatile markets, it can be difficult to make decisions in today's digital age. The book provides case studies and blueprints for taking the right actions in various areas like operations, marketing, sales, hiring, and client onboarding. Many CEOS today are talking about how to renegotiate contracts so that they reduce the risk of something going wrong. They can do this by splitting the risk and making sure that costs are variable instead of fixed. This will help them be more prepared if something does happen. "Risk management is the highest art form when you run a business because everything is risk/reward ratio," Simon comments. "You have to become very good at weighted probabilities." He explains why he thinks Elon Musk is a master of risk management and why it's the safer way to build a business. See less -

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