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 About HMC Management Inc Overview of Planning Our Integrated Planning Model (IPM) Closing Remarks Questions         ...
   HMC Management is a partnership that has been in place    informally since 1980 and was formalized in 1998.   HMC has...
   Our services and experience include:     Integrated Planning:      ○ Strategic;      ○ Operational Planning;      ○ A...
   Agriculture and Agri-business    Organizations   Community Based Companies and    Organizations   Municipal and Prov...
6
   PLANNING IS ONLY AS GOOD AS THE    INFORMATION ON WHICH IT IS    BASED.   PLANNING ISNT MAGIC: YOU CANT    ALWAYS GET...
   ADAPTABLE BEATS PERSUASION,    ANYTIME.     organization-building is never complete;     an organizations choices ar...
   PUT PLANNING IN ITS PLACE AND    TIME.     Recognize that it takes time and effort to     plan well.     Too-rushed ...
   TOO MUCH OF A GOOD THING:    PLANNING CAN BECOME A    SUBSTITUTE FOR ACTION.     "Theyre always having retreats to fi...
   WHAT GOES AROUND, COMES    AROUND: GROUPS CAN BE    BLINDSIDED BY THE ISSUES THAT    PLANNING REVEALS.     When an or...
   Provides a framework to help remove the    confusion and define how the various parts of    a successful planning proc...
This Integrated                                                                                                    Plannin...
STRATEGIC PLAN                                                             Vision, Vision, Values,                  The Bo...
   As you move from top to bottom of the    Integrated Planning Model:    1. The planning horizon (measured in time)     ...
   As you move from top to bottom of the    Integrated Planning Model:    2. The specificity of the associated targets an...
STRATEGIC PLAN                                                             Vision, Vision, Values,                        ...
   The Strategic Planning component of the    model includes:     Vision (3-5 year focus)     Mission     Values (or G...
   A good vision statement is an essential    element of every good corporate plan.   The vision statement spells out wh...
   Everything you do from this point    forward is tied to achieving your vision.   If what you are doing does not tie b...
 A Vision Statement         needs to be:   Practical    A stretch to achieve    Specific    Compelling and inspiratio...
STRATEGIC PLAN                                                             Vision, Vision, Values,                        ...
   A foundation piece of the Integrated    Planning Model.   Relatively new concept but very effective    in:     clari...
   There purpose of Strategic Imperative Focus Areas    can be broken down into 3 key statements:    1.   Strategic Imper...
   Break your vision down into smaller    chunks or components;   For each component determine:       What it means;   ...
STRATEGIC PLAN                                                             Vision, Vision, Values,                        ...
   Most often overlooked, the most critical part of the    overall planning process.   The operational plan provides dir...
   Review the information garnered from the    Strategic Imperative Focus Area development    exercise;   Look at the “W...
STRATEGIC PLAN                                                             Vision, Vision, Values,                        ...
   Action Planning is just as it sounds.   Owners and executives can strategize all they    want; without basic action o...
   This is truly where “the rubber hits the    road” and determines:     What needs to be done to reach our      milesto...
STRATEGIC PLAN                                                             Vision, Vision, Values,                        ...
   This is sometimes the only planning    that some local governments or    companies do .   The financial plan has two ...
   It is vision driven (3-5 years) so if projects do not    assist the organization to get to its vision, why are    doin...
   Lack of political will and administrative support –    buy-in;   Not allocating resources to accomplish your vision;...
Closing Remarks HMC believes in IPM and has  successfully used it for all types of  organizations from local government, ...
Questions?             37
Business Strategies for Economic Development Professionals
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Business Strategies for Economic Development Professionals

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Transcript of "Business Strategies for Economic Development Professionals"

  1. 1.  About HMC Management Inc Overview of Planning Our Integrated Planning Model (IPM) Closing Remarks Questions 2
  2. 2.  HMC Management is a partnership that has been in place informally since 1980 and was formalized in 1998. HMC has 2 partners:  Larry Lang (Broadview Office); and  Dean Yaremchuk (Portage la Prairie Office) We provide business and organizational development services primarily in Manitoba and Saskatchewan and bring over 60 years of combined experience in the municipal, economic, and corporate development fields as a consultant and users of consultative services to our customers. 3
  3. 3.  Our services and experience include:  Integrated Planning: ○ Strategic; ○ Operational Planning; ○ Action Planning; ○ Financial Planning (Budgets).  Business Planning and Development  Project development and Management  Organizational Reviews and Organizational Development  Business Management and Operations Support  Land Sales and Property Development 4
  4. 4.  Agriculture and Agri-business Organizations Community Based Companies and Organizations Municipal and Provincial Government’s Economic Development Agencies Tourism and Recreation Organizations Enterprise Regions First Nation Entities Private Sector Businesses 5
  5. 5. 6
  6. 6.  PLANNING IS ONLY AS GOOD AS THE INFORMATION ON WHICH IT IS BASED. PLANNING ISNT MAGIC: YOU CANT ALWAYS GET WHAT YOU WANT.  Do you have access to the expertise; the material resources & the time required to do it right?  Planning is a tool that can help you decide whether to go forward, not just how. 7
  7. 7.  ADAPTABLE BEATS PERSUASION, ANYTIME.  organization-building is never complete;  an organizations choices are to continuously adapt or die.  plan for flexibility, plans that cant be changed shouldnt be written. 8
  8. 8.  PUT PLANNING IN ITS PLACE AND TIME.  Recognize that it takes time and effort to plan well.  Too-rushed plans end up half-baked ideas.  Results are driven by investment (TIME & $$).  Be realistic about what you can invest. 9
  9. 9.  TOO MUCH OF A GOOD THING: PLANNING CAN BECOME A SUBSTITUTE FOR ACTION.  "Theyre always having retreats to figure out who they are," - "Thats a bad sign." 10
  10. 10.  WHAT GOES AROUND, COMES AROUND: GROUPS CAN BE BLINDSIDED BY THE ISSUES THAT PLANNING REVEALS.  When an organization pauses to plan, whats been submerged may come up for air. 11
  11. 11.  Provides a framework to help remove the confusion and define how the various parts of a successful planning process fit together. Clarifies what the roles of the Board and staff are. Disciplined Integration of your plans will result in better overall corporate plans. This will result in plans that stand a better chance of being executed successfully. 12
  12. 12. This Integrated Planning Model is comprised of five STRATEGIC PLAN main components: Vision, Vision, Values, Programs & Services, Issues. Letting the Program drive the budget! Strategic ImperativeFinancial Planning Focus Areas Operations Plan Determine Operations milestones to be achieved in 12 to 24 months. Action Plans Detailed 90 day action plans meant to be updated or “rolled” every 90 days. 13
  13. 13. STRATEGIC PLAN Vision, Vision, Values, The Board Programs & Services, Issues. Letting the Program drive the budget!Financial Planning Strategic Imperative Focus Areas Operations Plan Determine Operations milestones to be S achieved in 12 to 24 months. t a Action Plans f Detailed 90 day action plans meant to be f updated or “rolled” every 90 days. 14
  14. 14.  As you move from top to bottom of the Integrated Planning Model: 1. The planning horizon (measured in time) decreases. Strategic Planning Vision, Mission, Values, Services & Programs, Issues. Operations Plan 12 to 24 months Milestones Action Plans 12 month - 90 day rolling quarterly plans 15
  15. 15.  As you move from top to bottom of the Integrated Planning Model: 2. The specificity of the associated targets and detail increases. 3. The number of people involved with planning and execution increases. 4. The level of staff involved in planning and execution decreases. 16
  16. 16. STRATEGIC PLAN Vision, Vision, Values, Programs & Services, Issues. Letting the Program drive the budget! Strategic ImperativeFinancial Planning Focus Areas Operations Plan Determine Operations milestones to be achieved in 12 to 24 months. Action Plans Detailed 90 day action plans meant to be updated or “rolled” every 90 days. 17
  17. 17.  The Strategic Planning component of the model includes:  Vision (3-5 year focus)  Mission  Values (or Guiding Principles to some)  Programs & Services (Identification of core, secondary, and emerging services)  Critical Issues This is done by the elected representatives or “the owners”. 18
  18. 18.  A good vision statement is an essential element of every good corporate plan. The vision statement spells out what your corporation looks like at a point in time in the future. (3- 5 years in the future). The vision sets the tone for everything else that follows in the corporate plan yet is often written off as “Corporate Fluff”. 19
  19. 19.  Everything you do from this point forward is tied to achieving your vision. If what you are doing does not tie back to your vision you need to question why you are doing it? While visions evolve over time and are generally not perfect the first time, you need to be close. 20
  20. 20.  A Vision Statement needs to be:  Practical  A stretch to achieve  Specific  Compelling and inspirational  Positive  Possible to measure 21
  21. 21. STRATEGIC PLAN Vision, Vision, Values, Programs & Services, Issues. Letting the Program drive the budget! Strategic imperativeFinancial Planning Focus Areas Operations Plan Determine Operations milestones to be achieved in 12 to 24 months. Action Plans Detailed 90 day action plans meant to be updated or “rolled” every 90 days. 22
  22. 22.  A foundation piece of the Integrated Planning Model. Relatively new concept but very effective in:  clarifying direction and what to do; and  keeping what you do tied to your vision. Provides crucial instruction to form the operational plan. 23
  23. 23.  There purpose of Strategic Imperative Focus Areas can be broken down into 3 key statements: 1. Strategic Imperative Focus Areas articulate the most important parts of the strategy in a way that everyone can understand it. 2. Strategic Imperative Focus Areas describe the handful of major accomplishments that must be accomplished above all else in the next 12 -24 months. 3. Strategic Imperative Focus Areas describe the most important parts of the strategy in a way that drives action. 24
  24. 24.  Break your vision down into smaller chunks or components; For each component determine:  What it means;  How will you know you are there;  How would you define success;  Is there a clear completion date; and  What do we need to do to get there? This process ensures what you do is tied to your vision. 25
  25. 25. STRATEGIC PLAN Vision, Vision, Values, Programs & Services, Issues. Letting the Program drive the budget! Strategic Focus AreasFinancial Planning Operations Plan Determine Operations milestones to be achieved in 12 to 24 months. Action Plans Detailed 90 day action plans meant to be updated or “rolled” every 90 days. 26
  26. 26.  Most often overlooked, the most critical part of the overall planning process. The operational plan provides direction to what milestones and actions will be necessary to execute. Helps move processes that only stick to strategy, and don’t help you actually execute your plans. The operational plan lays out “how” Strategic Imperative Focus Areas will be accomplished. 27
  27. 27.  Review the information garnered from the Strategic Imperative Focus Area development exercise; Look at the “What do we need to do” results and tie them to focus areas. Look at what else you are doing now;  Do they tie to your vision? Estimate the cost of each Milestone identified. 28
  28. 28. STRATEGIC PLAN Vision, Vision, Values, Programs & Services, Issues. Letting the Program drive the budget! Strategic Focus AreasFinancial Planning Operations Plan Determine Operations milestones to be achieved in 12 to 24 months. Action Plans Detailed 90 day action plans meant to be updated or “rolled” every 90 days. 29
  29. 29.  Action Planning is just as it sounds. Owners and executives can strategize all they want; without basic action on the shop floor, business will never change or move ahead. Plan quarterly and don’t use artificial deadlines. Action plans have the shortest time horizon, the most detailed plans, the most specific accountabilities, and the most specific measures. 30
  30. 30.  This is truly where “the rubber hits the road” and determines:  What needs to be done to reach our milestone;  Who needs to do it?  When does it need to be done by?  What will it cost: ○ Cash ○ Time  Where do we get the: ○ Cash ○ Time 31
  31. 31. STRATEGIC PLAN Vision, Vision, Values, Programs & Services, Issues. Letting the Program drive the budget! Strategic Focus AreasFinancial Planning Operations Plan Determine Operations milestones to be achieved in 12 to 24 months. Action Plans Detailed 90 day action plans meant to be updated or “rolled” every 90 days. 32
  32. 32.  This is sometimes the only planning that some local governments or companies do . The financial plan has two key functions:  Provide tangible targets to clearly describe what successful execution will look like.  Act as a yardstick to measure actual performance versus plan. These are the numbers to keep the words ‘honest.’ 33
  33. 33.  It is vision driven (3-5 years) so if projects do not assist the organization to get to its vision, why are doing it?; Recognizes that economic development is not driven by artificial timelines (calendar year end, fiscal year end etc); Recognizes change occurs quickly and that is why the 90 day rolling operational plans are beneficial; Is linked directly to the budget; Forces accountability; Directs time spent on detail in the right areas 34
  34. 34.  Lack of political will and administrative support – buy-in; Not allocating resources to accomplish your vision; Not being realistic and patient andexpecting that the plan will produce immediate results; Non communication of progress or lack of progress; Not being open, honest, and transparent; Not knowing your role in the process; Trying to do too much; Taking short cuts and missing steps in the process; Not being disciplined or committed to the process. Treating planning like a special event. 35
  35. 35. Closing Remarks HMC believes in IPM and has successfully used it for all types of organizations from local government, to private sector, to not for profit entities; It is tried, tested and true It is not perfect; but with champions at the elected and administrative levels, who believe in the process, it works and produces results – every time….. 36
  36. 36. Questions? 37

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