Implementing a Strategy that gets Results!
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Continuing Education departments face pressure to grow, increase profitability, and reach new markets. However, many departments are also challenged with clarifying how they want to develop as a department or school and what benchmarks to use in measuring progress. This workshop explores how to create an overall strategy and link it with measurable goals. This workshop also examines how to choose and track a handful of key information and data, also known as Key Performance Indicators, so that your decisions are based on knowledge and you can foresee problems, changes, and curves in the road.
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Implementing a Strategy that gets Results!
- 1. From Strategy to Execution: Implementing BSC with Continuing Education Presented by: Nicole Foerschler JMH Consulting, Inc.
- 5. Strategy Map and Balanced Scorecard
- 7. Where Do You Want To Go?
- 8. Choose Your Value Proposition
- 9. Value Proposition Models Characteristics Examples University Related Examples Operational Excellence Focus on price Ease of use Walmart Dell IKEA Product Leadership First to market Apple with advances Google Unique attributes Customer Intimacy Customer service focus “Best Friend” approach On demand classes Inexpensive classes New offerings Cutting edge delivery Experiential learning Counselor for students Tailored/custom classes Nordstrom Ritz-Carlton
- 10. Identify Your Financial Strategy • Revenue Growth • Optimize Variable Costs • Asset utilization
- 11. Financial Strategies Operational Excellence Revenue Growth Productivity/ Optimize Variable Costs Asset Utilization Product Leadership Customer Intimacy
- 13. Customer Strategy Operational Excellence Retain and Add Customers Increase revenue per customer Reduce cost per customer Product Leadership Customer Intimacy
- 14. Focus on Internal Strategy
- 16. Strategy Map and Balanced Scorecard
- 20. Goal s f or Indi vi dual
- 21. H ow do you m anage t he i ni t i at i ves ?
Editor's Notes
- When it comes to strategy and execution, you can think about it kind of like a pyramid, but the top tier drives each of the levels below it. Therefore, your MISSION or “why do we exist” helps to dictate your VALUES or “What’s important to us” Sets parameters for your VISION or “Who do we want to be?” For example, if your mission is to help prepare and develop adult learners for careers Your values may include flexibility to highlight the unique scheduling needs of adult learners Your vision could be to become a national leader in paraprofessional training My assumption is that you have already identified that things in blue Our focus will be around the last four steps STRATEGY, which is How we are going to get there BALANCED SCORECARD, which is How will we measure our progress along the way STRATEGIC INITIATIVES, which are what are the steps that pave the way PERSONAL OBJECTIVES or what do I need to do/achieve/execute to contribute
- Does this look familiar? I’m sure more than a couple of you actually have two computers on your desk at work. Think about a project that you are spending a lot of time implementing How does that project support the department goals? Was spending the time on that project or process, the best use of your time? Was there something else you maybe should have been working on that would have had a more significant impact on meeting your goals? Maybe and maybe not…that’s the benefit of a BSC This picture is significant b/c we are being torn in a lot of different directions and there are a lot of things that we have to accomplish each day. And although there are a lot of things that you CAN do; there are only a handful that you SHOULD do. That’s where Balanced Score Card can help. Balanced Scorecard is a strategic performance management tool for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy. It’s a tool that focuses not only on financial growth, but the customer experience, the business operations, and the growth and development of team members.