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Strategic Planning And Implementation 2010

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A guide to developing and implementing a strategic plan for corporate and smaller businesses.

A guide to developing and implementing a strategic plan for corporate and smaller businesses.

Published in Business
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  • A good strategic plan inspires change and modification in products or target markets
  • A good strategic plan clearly defines threshold criteria for achieving success. No one strategic model fits all organisations, but the planning process includes certain basic elements that all businesses can use. In this session we will explore the vision, tactics and objectives of effective strategic plans and outline a set of underlying principles and management tools that will help you to create a truly valuable strategic plan. Why is strategic planning important? Strategic planning describes the status quo and the forces likely to change it in the immediate future. During the process, planners: • address questions of key importance • offer a framework for future decision making • uncover and clarify future opportunities and threats • serve as a channel for internal communication • set specific objectives for achievement • create a basis for efficient performance measurement • communicate goals to employees, investors and others • focus attention on the company’s long-term growth.
  • Monitoring the plan It is essential to monitor the progress of the strategic plan and measure the results.
  • Stay committed. Every action must have a due date. Due dates can be pushed back, but don’t let them go away.
  • Conduct short-term reviews. Schedule team “huddles” every 60 to 90 days to revisit the original plan, determine whether objectives are being met, and implement new action or corrective steps as necessary.
  • So that completes our run through of the traditional approach to strategic planning. But this is just one way.
  •  
  •  
  • Compare our business with our competitors’ by drawing your “as is” strategy canvas.   See where our strategy needs to change. Resolve differences of opinion about the current state of play before discussing changes in strategy.   Be aware of being invested in the status quo and not seeing a compelling need for change.
  • Go into the field to explore the six paths to creating blue oceans. Observe the distinctive advantages of alternative products and services. See Which of the factors that the industry takes for granted should be eliminated ? Which factors should be reduced well below the industry’s standard? Which factors should be raised well above the industry’s standard? Which factors should be create d that the industry has never offered? Send a team of mangers to see face-to-face with what they must make sense of: how people use or don’t use their products or services. Do not delegate this out . Never outsource our eyes, see for ourselves. Go after customers and non-customers. Buyers and users. Talk and watch them in action. Identify the array of complementary products and services that are consumed alongside our own services in order to look for opportunities. Look at how customers might find alternative ways of fulfilling the need our services or products satisfy. For each visualization strategy, write a compelling tagline that captures the essence of the strategy and speaks directly to the buyers.
  • There is a sequence to blue ocean strategy
  • The Impact of Creating Blue Oceans
  • .
  • Challenge underlying assumptions . While monitoring the plan's ongoing progress, also continue to examine its underlying assumptions, the continued validity of its objectives and the influence of unanticipated events.
  • Create a "champion" for every strategy and action . The champion has to be someone other than the CEO, because he or she isn't accountable to anyone. The champion doesn't necessarily have to complete the actions, but must see that they get done."
  • Conduct short-term reviews. We suggest scheduling team "huddles" every 90 days to keep the plan "reviewed, reloaded and re-energized." (Or alternatively, 60-day reviews by senior management.) These reviews offer the opportunity to take another look at the original plan, determine if objectives are being met and implement new action steps as necessary. Another benefit: during these huddles, you can identify those individuals who are getting things done and those who aren't (the "empty suits").
  • Here is our suggested 11 point "Strategic Change Process Checklist”:
  • Finalize a strategic plan or major change with a rollout plan.
  • The performance of a very large mobile phone company logistic centre in the UK was poor with service and delivery turnaround time, to their 610 UK stores and to individual consumers who ordered on line, stretching unacceptably. A logistics centre development strategy was developed with close cooperation between the HQ in London and the local Management of the logistics centre. The key steps of the strategy were broken down in to smaller steps and allocated to local task force teams, who reported weekly on progress, any difficulties and planned next steps. These were then reviewed by the logistics centre GM and the Head office team on a weekly basis and changes and/or corrective action agreed. This was fed back to the local teams on the same day who then met briefly to agree individual actions for the team members. This process proved to be so successful in improving turnaround times and removing bottle necks that it became a permanent feature of the centre. The practice has now also been adopted by the head office to cover all operations. As a result the company now has a “culture of over performance” which has reflected in an improvement in the company’s reputation among potential recruits and a performance premium on the company’s shares – in short it has created a “virtuous circle” of improvement for the company.
  • For more information please call and /or check the web site where more best business practice material is available to download.

Transcript

  • 1. www.tcii.co.uk
  • 2. Company History
    • Established in St. Petersburg, Russian Federation.
    • Split into 3 locations: London, St. Petersburg, Dresden (Germany).
    • 2004 Private Client (SME’s) Division established.
    • 2008/9 Expansion into Australia, France, Portugal, Poland, Italy, India, Malaysia, India, UAE, China, Dubai
  • 3. What do we do?
    • Board-level strategic development
    • Followed through to delivery and implementation at line management level
    • Highly experienced senior business people
    • Creative yet practical solutions
    • Hands-on involvement, focused on results and delivering advantage
    • Tailored approach to meet unique demands of challenge
    • Mentoring
  • 4. Some of our clients
  • 5.
    • Strategic Planning
    © 2008 TCii Ltd. www.tcii.co.uk
  • 6. The Planning Team The Planning Process Asking the right questions Creating a Vision Implementing the plan SWOT Analysis Identifying Goals Values STRATEGIC PLANNING The Mission Statement Measuring & Monitoring © 2008 TCii Ltd.
  • 7. Reflects the values © 2008 TCii Ltd.
  • 8. Inspires change © 2008 TCii Ltd.
  • 9. Defines success © 2008 TCii Ltd.
  • 10. The Planning Team © 2008 TCii Ltd.
  • 11. The Planning Process © 2008 TCii Ltd.
  • 12. 1. Planning to plan © 2008 TCii Ltd.
  • 13. 2. Practising creative thinking © 2008 TCii Ltd.
  • 14. 3. Staying on track © 2008 TCii Ltd.
  • 15. 4. Combining and distilling © 2008 TCii Ltd.
  • 16. 5. Assigning responsibility © 2008 TCii Ltd.
  • 17. Asking the right questions © 2008 TCii Ltd.
  • 18. Where are we now? © 2008 TCii Ltd.
  • 19. Where do we want to be tomorrow? © 2008 TCii Ltd.
  • 20. How do we get there? © 2008 TCii Ltd.
  • 21. Creating a Vision © 2008 TCii Ltd.
  • 22. Values © 2008 TCii Ltd.
  • 23. The Mission Statement © 2008 TCii Ltd.
  • 24. Identifying Goals © 2008 TCii Ltd.
  • 25. SWOT Analysis © 2008 TCii Ltd.
  • 26. Competitive Analysis © 2008 TCii Ltd.
  • 27. Implementing the Plan © 2008 TCii Ltd.
  • 28. 1. The CEO © 2008 TCii Ltd.
  • 29. 2. Day-to-day co-ordination © 2008 TCii Ltd.
  • 30. 3. Executive team © 2008 TCii Ltd.
  • 31. 4. Strategy sponsorship teams © 2008 TCii Ltd.
  • 32. Measuring and monitoring the plan © 2008 TCii Ltd.
  • 33. 1. Conduct regular updates © 2008 TCii Ltd.
  • 34. 2. Create a ‘champion’ for every strategy and action © 2008 TCii Ltd.
  • 35. 3. Stay committed © 2008 TCii Ltd.
  • 36. 4. Conduct short-term reviews © 2008 TCii Ltd.
  • 37. 5. Expand skills © 2008 TCii Ltd.
  • 38. 6. Establish milestones © 2008 TCii Ltd.
  • 39. Be flexible © 2008 TCii Ltd.
  • 40. The Planning Team The Planning Process Asking the right questions Creating a Vision Implementing the plan SWOT Analysis Identifying Goals Values STRATEGIC PLANNING The Mission Statement Measuring & Monitoring © 2008 TCii Ltd.
  • 41.
    • Strategic Planning: Another Way
    • Blue Ocean Strategy
    © 2008 TCii Ltd. www.tcii.co.uk
  • 42. Another way… Blue Ocean Strategy © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 43. © 2008 TCii Ltd. Another way… Don’t compete with rivals Red Ocean v Blue Ocean Reconstructing market boundaries The sequence to Blue Ocean strategy Minimising risks and maximising opportunities Reach beyond existing demand Pioneers, Settlers and Migrators Visualising Strategy STRATEGIC PLANNING
  • 44. Don’t compete with rivals – make them irrelevant © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 45. Red Ocean v Blue Ocean © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 46. © 2008 TCii Ltd.
    • Compete in existing market space
    • Beat the competition
    • Exploit existing demand
    • Make the value-cost trade-off
    • Align the whole system of a firm’s activities with its strategic choice of differentiation or low costs
    • Create uncontested market space
    • Make the competition irrelevant
    • Create and capture new demand
    • Break the value-cost trade-off
    • Align the whole system of a firm’s activities in pursuit of differentiation and low costs
    Red Ocean Blue Ocean © 2008 TCii Ltd.
  • 47. Reconstructing market boundaries © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 48. 1. Look across alternative industries © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 49. 2. Look across strategic groups within industries © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 50. 3. Look across the chain of buyers © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 51. 4. Look across complementary product and service offerings © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 52. 5. Look across functional or emotional appeal to buyers © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 53. 6. Look across time © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 54. Minimising risks and maximising opportunities © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 55. © 2008 TCii Ltd. Formulation Principles Formulation Risks Execution Principles Execution Risks Reconstruct market boundaries Focus on the big picture, not the numbers Reach beyond existing demand Get the strategic sequence right Search Risk Planning Risk Scale Risk Business Model Risk Overcome key organizational hurdles Build execution into strategy Organizational Risk Management Risk
  • 56. Visualising Strategy © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 57. 1. Visual Awakening © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 58. 2. Visual Exploration © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 59. 3. Visual Strategy Fair © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 60. 4. Visual Communication © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 61. Pioneers, Settlers and Migrators © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 62. Reach beyond existing demand © 2008 TCii Ltd. 1 2 3
  • 63. The sequence to Blue Ocean strategy © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 64. 1. Buyer utility © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 65. 2. Price © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 66. 3. Cost © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 67. 4. Adoption © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 68. The Strategy Canvas of Cirque du Soleil © 2008 TCii Ltd. Price Star Performers Multiple show arenas Animal Shows Artistic music and dance Aisle concessions Fun & humor Multiple productions Refined watching environment Theme Unique venue Thrills & danger Low High Cirque du Soleil Value Curve Ringling Bros. and Barnum & Bailey Value Curve Smaller Regional Circuses
  • 69. Impact
  • 70. © 2008 TCii Ltd. Another way… Don’t compete with rivals Red Ocean v Blue Ocean Reconstructing market boundaries The sequence to Blue Ocean strategy Minimising risks and maximising opportunities Reach beyond existing demand Pioneers, Settlers and Migrators Visualising Strategy STRATEGIC PLANNING
  • 71.
    • Strategic Planning – Implementing the Plan
    www.tcii.co.uk © 2008 TCii Ltd.
  • 72. Meeting the financial projection Common mistakes Reach out to stakeholders Measure progress Best practice examples A living document Is your work done? Monitor the plan STRATEGIC PLANNING IMPLEMENTING THE PLAN Strategic Change Process Checklist
  • 73. Meeting the financial projections
  • 74. Common mistakes
  • 75. Reach out to stakeholders
  • 76. Measure progress
  • 77. Monitor the plan
  • 78. Monitor the plan Regular updates
  • 79. Monitor the plan Challenge underlying assumptions
  • 80. Monitor the plan Create a ‘champion’ for every strategy and action
  • 81. Monitor the plan Stay committed
  • 82. Monitor the plan Conduct short-term reviews
  • 83. Monitor the plan Expand skills
  • 84. Monitor the plan Target sales
  • 85. Monitor the plan Make milestones
  • 86. Monitor the plan Reward success
  • 87. Strategic Change Process Checklist
  • 88. 1. Roll-out plan Strategic Change Process Checklist
  • 89. 2. Align budget and fund the change Strategic Change Process Checklist
  • 90. 3. Build department plans around organisation’s annual goals Strategic Change Process Checklist
  • 91. 4. Set up steering committee Strategic Change Process Checklist
  • 92. 5. Establish success measures and tracking system Strategic Change Process Checklist
  • 93. 6. Revise performance management and rewards systems Strategic Change Process Checklist
  • 94. 7. Examine organisational structure / succession planning Strategic Change Process Checklist
  • 95. 8. Staff development Strategic Change Process Checklist
  • 96. 9. Build a game plan to ensure critical mass for change Strategic Change Process Checklist
  • 97. 10. Sponsorship teams Strategic Change Process Checklist
  • 98. 11. Set review dates Strategic Change Process Checklist
  • 99. A strategic plan is in place. Is your work done?
  • 100. A living document
  • 101. Some examples of best practice
  • 102.
    • Recognising where your profit comes from
  • 103. 2. Raining cats and dogs 40% increase in business
  • 104. 3. Talking to the real customer
  • 105. 4. Regular measurement to improve performance
  • 106. 5. One small step for man…
  • 107. 6. Careful and precise targeting
  • 108. Meeting the financial projection Common mistakes Reach out to stakeholders Measure progress Best practice examples A living document Is your work done? Monitor the plan STRATEGIC PLANNING IMPLEMENTING THE PLAN Strategic Change Process Checklist
  • 109. Next Steps / Questions © 2008 TCii Ltd. © 2008 TCii Ltd.
  • 110.
    • TCii Management Consultants
    • 33 Cavendish Square
    • London W1G 0PW
    • t 0207 099 2621
    • f 0207 099 2623
    • e [email_address]
    • w www.tcii.co.uk
    • Building Profitable Business