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5 steps to implement winning strategy

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Strategy Execution Leadership Framework is a easy-to-use canvas and tool to allow you to formulate your own 'winning' strategy, align your activities to the strategy and commit your entire ...

Strategy Execution Leadership Framework is a easy-to-use canvas and tool to allow you to formulate your own 'winning' strategy, align your activities to the strategy and commit your entire organization to the successful execution of your new strategy. The presentation provides you with a canvas to allow to identify and prioritize activities to implement your strategy taking into consideration your current situation, available (in)tangible assets and lacking assets.

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5 steps to implement winning strategy 5 steps to implement winning strategy Presentation Transcript

  • 5 steps to implement a ‘winning’ strategy “Strategy must have continuity. It can’t be constantly reinvented” Michael Porter
  • Road to implement ‘winning’ strategy Define your bounderies Set your goals Formulate your strategy Align your organization Commit your organization 17/08/2014 Copyright by Laumacon b.v.b.a. 2
  • Step 1: Define your bounderies “Action without vision is only passing time, vision without action is merely daydreaming, but vision with action can change the world” Nelson Mandela
  • Shared values What are the basic beliefs that we share as an organization?  Values are  Beliefs that our organization’s members hold in common  Endeavor to put into practice  Values guide your organization’s members in performing their work  Adherence to the organization’s values, “Walk the talk”, foster individual and organizational integrity 17/08/2014 Copyright by Laumacon b.v.b.a. 4
  • Vision What will success look like?  Describe your vision  Begins with intuition and ideas  Evolves through discussion  Results in a shared sense of direction and motivation  A vision  Is compelling  Challenges and inspires the group  Focuses first on the client  Describes what the organization looks like when functioning effectively 17/08/2014 Copyright by Laumacon b.v.b.a. 5
  • Mission Why do we exist?  Sentence that describes the end result  An infinative that indicates a change in status  An identification of the problem or condition to be changed  A description of the primary means used to accomplish the purpose 17/08/2014 Copyright by Laumacon b.v.b.a. 6
  • Step 2: Determine your objective “Sound strategy starts with having the right goal” Michael Porter
  • Determine your long-term aims Service Social Profit Growth  Timeline of 3 – 5 years  4 general areas:  Services: improving customer service satisfaction or retention  Social: focus on giving back to the community  Profit: increase profits by a certain percentage  Growth: expension of the company 17/08/2014 Copyright by Laumacon b.v.b.a. 8
  • Evaluate your corporate assets Available assets Missing assets  Evaluate your company’s tangible and non-tangible assets  Keep the assets that can strengthen your company  Identify the missing assets to achieve your goals  Desinvest the assets that you to no longer neer to achieve your goals 17/08/2014 Copyright by Laumacon b.v.b.a. 9
  • Step 3: Formulate your ‘winning’ strategy “Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.” Michael Porter
  • Who do you serve?  Define your target market  Identify bases of segmenting  Develop profiles of resulting segments  Develop measures of segment attractiveness  Select target segments Competitive rivalry within segment Threat of new entrants Bargaining power of Buyers Threat of substitutes Bargaining power of Suppliers
  • What do you provide? High-end Specialist High-end Generalist Low-end Specialist Low-end Generalist  Specialist Vs. Generalist:  Do you offer a wide range of services/products in your market?  Do you offer a limited selection of services/products in depth in your market?  High-end Vs. Low-end:  Do you offer the best products/services?  Do you offer products/services that are good enough? 17/08/2014 Copyright by Laumacon b.v.b.a. 12
  • What is your value proposition? 3 3 5 3 4 5 4 3 3 33 3 3 4 5 PRICE ACCESS PRODUCT SERVICE CONNECT Competitive Value Line Overview Competitor A Competitor B You  ‘Best’: Consumer seeks the company  ‘Better’: Consumer prefers the company  ‘Good’: Consumer accepts the company  ‘Failing’: Unacceptable to consumer  Be different from your competitors value proposition  Prevent “me too”-syndrome  Dominate on one, Differentiate on one and be acceptable on other value dimension 17/08/2014 Copyright by Laumacon b.v.b.a. 13 Source: Crawford and Mathews (2001)
  • How do you deliver? Value Disciplines Product Leadership Operational Excellence Customer Intimacy  Consists of all of your resources and capabilities to deliver your value proposition  Reveils the underlying logic that explains how to deliver value to the customer  What do you own and do in operational and managerial terms 17/08/2014 Copyright by Laumacon b.v.b.a. 14 Source: Treacy and Wiersema – Value Disciplines
  • Link between value proposition and operating model 17/08/2014 Copyright by Laumacon b.v.b.a. 15 Best price Best access Best product Best service Best connectivity Operational Excellence Product Leadership Customer Intimacy Source: Kurt Verweire – Strategy Implementation (2014)
  • Step 4: Align your organization to your strategy “Strategy without execution is halucination.” Karl Moore
  • Align your processes with your operational model 17/08/2014 Copyright by Laumacon b.v.b.a. 17 Direction & Goal Setting Operational Processes Support Processes Evaluation & Control Organizational behavior
  • Prioritize your activities across the different areas 17/08/2014 Copyright by Laumacon b.v.b.a. 18 ShortTermMiddleTermLongTerm Goal & Direction Setting Operational Support Evaluation & Control Organizational Behavior
  • Step 5: Ensure organization commitment “Commitment is an act, not a word.” Jean-Paul Sartre
  • Levels of organizational commitment 17/08/2014 Copyright by Laumacon b.v.b.a. 20 Direction & Goal Setting Operational Processes Support Processes Evaluation & Control Organizational behavior Level 1: Entrepreneurial organization Level 2: Structured organization Level 3: Aligned organization Level 4: Connected organization Source: Kurt Verweire – Strategy Implementation (2014)
  • Strategy implementation at four different organizations Direction & Goal Setting Operational Support Evaluation & Control Organizational Behavior Entrepreneurial organization Planning is nonexistent. No clear vision, no strategy Processes are isolated tasks providing an immediate answer to a request or problem No clear support processes created. No systematic data- gathering. Ad hoc performance measures collected. Autocratic leadership, no formal HR systems yet. Structured organization Planning is financial or operational. No clear strategic choices made Few key processes are documented. Local improvement initiatives. Support structure built up gradually. Control through an operational budget. Diagnostic control. Functionally structured organization with formal HR systems and processes. Connected organization Strategic choices are made on the competitive arena and theme The process flow is defined and implemented. There is process control. Support processes are formal and powerful. Focus on streamlining interfaces between departments. Key performance indicators are indentified and measured. Teamwork across deparments. Middle management involved in strategy discussions. Committed organization Vision and mission live within the organization. Values are internalized by all employees Processes are tracked and improved continuously. Supporting activities are integrated within operational processes. Performance is extensively monitored, even at individual elvel. Control is used to learn. Responsibilities and authorities assigned to the lowest hierarchical level. The organization of self-directing teams. 17/08/2014 Copyright by Laumacon b.v.b.a. 21 Source: Kurt Verweire – Strategy Implementation (2014)
  • SELF Strategy Execution & Leadership Framework Use the SELF canvas to do it yourself
  • Strategy Execution Leadership Framework
  • Align your committed organization to your strategy Goal & Direction Setting Operational Support Contrl & Evaluation Organizational Behavior Shortterm (quickwins) MiddletermLongterm
  • Laumacon b.v.b.a. Sint Gommarusstraat 39 2800 Mechelen Belgium info@laumacon.be BTW BE0508.694.328 Eric Lauwers Managing Director Tel: +32 (0)471 86 46 13 eric.lauwers@laumacon.be Twitter: @ericlauwers For more information 17/08/2014 Copyright by Laumacon b.v.b.a. 25