Strategic Planning: The Roadmap for Business Growth
Strategic planning is the foundation of every successful business. In this presentation, learn how to create an effective strategic plan that will drive the growth of your business and put it on a path to success.
•The Essence of Strategic Planning
•Effectively developing a strategic planning process—How?
–Key Components of a strategic plan
–Simple steps to create a Strategic (Marketing) Plan
–Key Criteria to use to Measure and Benchmark Success
•Case Study Discussion/Presentations
•Why do you think small businesses are challenged when it comes to growth?
•How many of you have a strategic/marketing plan?
•If so, how often do you fine-tune it?
•How would you define Strategic Planning & Marketing?
•And, why are these important to your business?
•What is the role of Strategic Marketing Planning and why is it important?
Business owners have a tendency to think in the business versus thinking about the business
In other words…
Bogged down with the daily details versus thinking longer-term about the strategic approach focused on…
Day to Day
Longer- term Planning
•What happens if you don’t change or fine tune your plan? Think…
•What happens if you do change or fine tune your plan? Think…
American Red Cross
American Red Cross
•Originally, focused primarily on blood programs/donations and then introduced its first aid, water safety, and public health nursing programs
•Since 2006, working with FEMA with disaster
•In 2007, shifted the Mission statement Supporting families in disaster
American Red Cross Vision Statement
•The American Red Cross, through its strong network of volunteers, donors and partners, is always there in times of need. We aspire to turn compassion into action so that:
–all people affected by disaster across the country and around the world receive care, shelter and hope;
–our communities are ready and prepared for disasters;
–everyone in our country has access to safe, lifesaving blood and blood products;
–all members of our armed services and their families find support and comfort whenever needed; and
–in an emergency, there are always trained individuals nearby, ready to use their Red Cross skills to save lives.
Source: American Red Cross
American Red Cross Mission Statement
The American Red Cross prevents and alleviates human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors.
Source: American Red Cross
•Primarily focused on tabulating machines (International Business Machines) desktops
•Market turmoil (advent of PC’s, et. al.) in the 80’s/90’s
•Hired Louis V. Gerstner in 2003
–Brought with him a customer-oriented sensibility and the strategic- thinking expertise
•Software integration for Fortune 500 companies
IBM Vision Statement
We pledge boldness in the second century to create a company that never stops moving toward the future. Ever Onward.
Strategic Marketing Planning
•The role of strategic marketing is to:
–Determine a longer-term vision for your business
–Identify relevant consumers to target
–Identify/build/enhance ongoing relationships with
consumers and customers
-Strategically target customer segments and focus on profitable growth
Strategic Plan Components
–Key Metrics, including resources required
•Focused, concise and precise
•Not to be confused with a Mission statement, objectives and strategies
•As we move towards our goal of being a world-class university, we will support research on a global scale
•The XYZ Company will inspire its employees to be the best they can be.
•Our vision is to bring our students into the 21st century through innovation and modern technology.
•The company’s purpose and reason for being
•Why your employees go to work everyday
•Reflects organizational mission and reinforces long-term direction
•Provides direction for goal-setting
“Do Great Work”
•American Red Cross
“Provide for victims of disaster”
•Provide you with an end-game
•Not to be confused with strategies
Starts with a Situation Analysis
•In essence, helps you to identify “gaps”
Leads to SWOT Analysis
Types of Questions to Ask
•What do we do well?
•What’s the competition doing?
•What are clients seeking?
•Can we fill customer’s expectations?
And, Then Identify…
•Points of Difference
•Skills, Technologies and Resources
Why Important to YOU?
•Ever-changing, dynamic market
•Client expectations changing
•Demonstrates your understanding of the market and how to approach it
•Companies do business with those whom understand their business needs and expectations
Plan Creation (Simple Steps)
•Understand who you are and what your business represents
•Identify or refine company’s vision and mission
•Establish realistic, measureable goals
•Clearly identify and target relevant customers
•Develop a marketing plan which addresses market segments identified and how you're going to reach them
•Establish budgetary resources
•Establish measurement criteria
•Track results in a timely manner
•Build contingency plans
•Be transparent and FLEXIBLE
Key Performance Indicators (KPI’s)
–Cost of Goods Sold
•Develop a Strategic Roadmap focused on achieving business goals including alternatives and fact-based recommendations
•Understand customer’s expectations and needs
•Develop Integrated Marketing Communications
Improving Your Process Tips
Case Study for Discussion
•Review the case in detail and develop a strategic marketing plan which captures the following:
–2015 Objectives/Strategic Priorities
–Identify Two to Three Alternatives for Consideration
–Recommended Alternative Approach with Rationale
•Identify a presenter