Conducting Strategic Management Workshop - A Brief Guide


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Conducting Strategic Management Workshop - A Brief Guide

  1. 1. ConductingStrategic Management Workshop - A Brief Guide Prepared by : Wong Yew Yip April 2013
  2. 2. Introduction  An organization needs to grow its business, otherwise there is little meaning for its existence  An organization cannot grow by remaining idle without any “game plan” with strategic management to strengthen its competitive position, delighting customers and achieving its performance targets  It is therefore vital for all organizations, no matter how big or how small, to conduct a Strategic Management workshop to finalize its “game plan”, communicate to all levels of staff and execute flawlessly  A Strategic Management workshop is best facilitated by an experienced external facilitator to manage the structure, focus, group dynamics and the decision-making process during the workshop  The engagement of an external facilitator costs money and this is perhaps why many companies forgo a proper Strategic Management workshop  Whether your organization will engage an external facilitator or does it internally, this brief on Conducting a Strategic Management Workshop may be beneficial to youPrepared by : Wong Yew Yip 2
  3. 3. Workshop Purpose To formulate the Organization’s new strategic directions for the short and long term with renewed Vision, Mission, Core Values, and Strategic Objectives and Projects, to continuously grow the businessPrepared by : Wong Yew Yip 3
  4. 4. Learning Objectives At the end of this workshop, the participants will be able to:-  Explain Strategy, Strategic Thinking and Strategic Management  Describe the 5 Phase Strategic Management Process  Identify the Organizations’ strategic intents  Draft a new Vision, Mission and Core Values  Formulate the Organization’s Strategic Objectives and Projects  Develop Implementation Plans to execute the Strategic Objectives and Projects  Evaluate performance of Strategic Projects and take corrective actionsPrepared by : Wong Yew Yip 4
  5. 5. Workshop Deliverables  New Strategic Directions for the short and long term business growth  Renewed Vision, Mission and Core Values  Strategic Objectives and Projects  Strategic Implementation Plan for flawless execution  Performance monitoring mechanism to evaluate progress and take corrective actionsPrepared by : Wong Yew Yip 5
  6. 6. What is Strategy? “ The essence of strategy is in the activities - choosing to perform activities differently or to perform different activities than rivals. Otherwise, a strategy is nothing more than a marketing slogan that will not withstand competition “ ~ Michael E. PorterPrepared by : Wong Yew Yip 6
  7. 7. What is Strategy?A strategy is something like, aninnovative new product; globalization,taking your products around theworld; be the low-cost producer. Astrategy is something you can touch;you can motivate people with; benumber one and number two in everybusiness. You can energize peoplearound the message ~ Jack WelchPrepared by : Wong Yew Yip 7
  8. 8. What is Strategic Thinking? Strategic thinking: Strategic thinking involves stepping back from your original organization so that you can view it in a way that helps you to understand what is important today, and what you need to do to make it successful in future. Strategic thinking simply requires that you collect different data and use the right methods to help you understand what really happens in your organization, and where the possibilities reside. It is aSTRATEGICviewpoint that you will develop as youa step THINKING is taking learn back so that you can view it in a way that helps you to it in this course. understandStrategic Thinking precedes Strategic what is important today, and what you need to do to make it successful in future PlanningPrepared by : Wong Yew Yip
  9. 9. What is Strategic Thinking? In Strategic Thinking, you simply need to collect relevant data and information from internal and external sources, and use the right tools to help you understand:  what is really happening in your organization?  what are the opportunities?  what you need to focus on?Prepared by : Wong Yew Yip
  10. 10. What is Strategic Management? Strategic Management is an organization’s success formula for continuing and sustainable growth by evaluating where it is now, visioning where it wants to go, and flawlessly executing strategic plans to get therePrepared by : Wong Yew Yip 10
  11. 11. Strategic Management is NOT . . .Prepared by : Wong Yew Yip
  12. 12. 3 BIG Questions in Strategic Management 2 Where do we want to 3 go? How do we get there? 1 Where are we now?Prepared by : Wong Yew Yip 12
  13. 13. 5 Phase Strategic Management Process 5 PHASE STRATEGIC MANAGEMENT PROCESS 1 2 3 4 5 Develop Formulate Analyze Vision, Implement Evaluate Strategic Scenarios Mission & Strategies Performance Objectives Core Values Analyzing Developing Formulating Implementing Evaluating business and strategic Vision, strategic and executing performance, competitive Mission & Core objectives to strategies with reviewing new environment , Values for the achieve project teams developments assessing organization in organizational undertaking and initiating capabilities, the long term goals in line specific projects corrective identify high with Vision & actions impact events & Mission develop strategic intentsPrepared by : Wong Yew Yip 13
  14. 14. Phase 1 - Plan Scenarios Analyzing business and competitive environment , assessing capabilities, identify high impact events & develop strategic intents 1.1 Process planning and kick off 1.2 Analyze business environment and key challenges Scenario planning to address business choices and key 1.3 competencies/capabilities 1.4 Identify predictable/unpredictable high impact events 1.5 Develop Strategic IntentsPrepared by : Wong Yew Yip 14
  15. 15. Phase 2 – Develop Vision, Mission & Core Values Developing strategic Vision, Mission & Core Values for the organization in the long term 2.1 Develop Vision for long term direction 2.2 Develop Mission for clarity of goals 2.3 Craft Corporate Branding for strategic positioning 2.4 Identify Corporate Core Values 2.5 Develop Core Value Definitions & DescriptionsPrepared by : Wong Yew Yip 15
  16. 16. Phase 3 - Formulate Strategic Objectives Formulating strategic objectives to achieve organizational goals in line with Vision & Mission 3.1 Finalize strategic objectives 3.2 Formulate Corporate Balanced Scorecard 3.3 Identify key strategic projects 3.4 Set performance goals & timelines 3.5 Develop Business Units Balanced ScorecardsPrepared by : Wong Yew Yip 16
  17. 17. Phase 4 - Implement Strategies Implementing and executing strategies with project teams undertaking specific projects 4.1 Form Strategic Project Teams 4.2 Communicate new strategic directions/strategies 4.3 Demonstrate progressive leadership 4.4 Implement Strategic Project Management 4.5 Flawless executionPrepared by : Wong Yew Yip 17
  18. 18. Phase 5 – Evaluate Performance Evaluating performance, reviewing new developments and initiating corrective actions 5.1 Monitor progress of strategic projects 5.2 Evaluate performance constantly 5.3 Take corrective actions 5.4 Make adjustment based on business conditions 5.5 Reward achievements & celebrate successPrepared by : Wong Yew Yip 18
  19. 19. yewyip@gmail.comPrepared by : Wong Yew Yip