Strategy an introduction


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An introduction to strategy including he diference etween ains and objectivs

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  • There is a need to describe where and how business relates to the council. The council operates as a not for profit organisation therefore the basic principles of business apply therefore strategy is an important factor in the success of the organisation.Speak of the private sector (Asda, Tesco, our town traders) & the public sector (Post office, BBC and the council) Business principles apply in all. The objectives however, change and are reflective of the business strategy. All businesses have functional areas, these are Finance, HRM, Marketing, R&D, Production, & Administration. All need to work together towards the strategic direction of the company given to us by the Board of Directors.We, as a town council will operate the functional areas though our working groups.
  • Before doing anything go into the basics of business. Start by drawing the time line indicating where we are now and where we want to be in 5 years. It is important that we plan for the future, we cannot stand still.Define the difference between an aim & an objective. The aim is where we want to be in 5 years – this relates to the strategic thinking process. An objective or series of objectives relate to how we intend to fulfil the aims over that 5 year period, it’s a step by step process eg year 1 we will have achieved… year 2 we will have achieved… and so on. Objectives are measurable. Objectives relate to profit, growth, provide a quality product & service, serving the community. Whatever business you are in your primary objectives will change, for example, Tesco’s aim is to dominate the retail world so there objective are purely related to maximising profit & growth, although quality does need to be a key factor. The college however, are focussed on delivering a quality product and serviceThe strategic process never sleeps, it is ongoing, it is continually evolving. Things are constantly changing & these changes will effect our direction. We have to be able to adapt and change with it. Example: the bank crisis / credit crunch. How an organisation reacts to determine its future.Strategic planning is unique to each organisation.What we are covering today is an overview of the whole process.Strategic Thinking – has to be realistic and not a wish list for a powerful owner, concerned with the values, beliefs & drive of the people in charge (EG Branson @ Virgin – how would you describe his organisation with that statement in mind?) Where does perception come into it Virgin / Trust the brand? (James Dyson – beliefs & values please?)Strategic Assessment – Exactly what it says, internal and external analysis of us, our competitors or things affecting our situation.Strategic Choice – Once our analysis is done we can formulate our aims & objective, the best way to go to maximise our resources bearing in mind our limitations. Strategic Change – Possibly the hardest to achieve if the change is radical and effects people. There may be a need to align people to the new strategic direction, there may be a need to change the culture of the organisation. Must be handled carefully, can be done quickly more often than not is a step by step process. Change needs to be sold for the good. Change for changes sake is not good.
  • Strategy wraps up the whole aims and objective together in a pre agreed agenda for the development and direction of the organisationStrategy is a long term commitment for the growth of a particular unique organisation. It is what we want to achieve over a specific point. It is in effect asking the question ‘Where do we want to be? (in … years time).Another question to ask (once the strategy has been agreed) is ‘how do we get there? Which is, in effect, asking how we develop our objectives to reach our strategy. We need to be care however, that the strategy we formulate is accessible and not a wish list. The strategy needs to be realistic and achievable
  • Aim is the overall business plan how we will achieve our strategy – where do we want the town of Atherstone to be in 5 years time. For example, we may decide we want Atherstone to rival Bosworth as a tourist attraction as a place central to peoples visit to the area. The objectives based on that aim may include to develop the tourist information side of the town, it may be to develop the canal park and / or the town centre to make it more up market, free from litter, develop the market square with a lively market, extending the market into Long Street. I feel the working group will assist in the development of the aims and objectives. If we decided all of these are important to the achievement of the aim then we can set annual targets to support the objectives so, if we say 1 objective is to develop the market in order to bring more people into the town so it becomes more prosperous then we could say that by the end of year 1 the square will be full every week. By the end of year 2 they market will be extended into Long street, by the end of year 3 the whole of Long Street will be full every week. With the other objectives (Canal Park, land near the cemetery being developed, Dickens night, Summer in the Square, transportation links) all continually improving year upon year then soon Atherstone becomes known throughout the midlands as a vibrant town steeped in history that is worth a visit
  • How this mission statement is achieved is dependant on the objective target
  • In order to formulate our strategy we need to analyse what is good / bad and what has potential and what can stop us. We can do this by utilising a SWOT analysis There are others
  • Empty shops – give bad impression, you only have one chance to make a lasting impressionDirty streets – ongoing concern but does give an impressionLack of development – derelict buildings again give an impressionNot fashionable – as Henley-in-Arden, Market BosworthChamber of Trade – need to buy into this initiative and support us
  • Opportunities are potential strengths and can be viewed as development opportunitiesGypsy lane – opportunity to develop this as a place of tranquillity and something for the people of Atherstone to be proud of. A place where ‘boaters can stretch their sea legs’Canal Tourism. We want boaters to stop, tour Atherstone, spend their money (thus stimulating the local economy) and above all, to take away a good impression of the town.Market Sq. Further develop the entertainment and the market itself, a successful market brings in people (cite Melton Mowbray)History. Atherstone is steeped in history – publicise & celebrate it! Derelict buildings – eyesore now but there is an opportunity to turn this around for the good of the townNew Traders. New ideas, new shops selling a variety of products and services. We have an excellent location but cannot seem to tempt new people to trade here – Why?
  • Strategy an introduction

    1. 1. An Introduction<br />Strategy<br />
    2. 2. Introduction<br />‘For me, a strategy is the &apos;why&apos; - what is the bigger picture, the vision, the values or the market forces that are driving you or the business towards a certain point’<br />Kirsten Holder  24 January 2007<br />
    3. 3. Strategy <br /><ul><li>Action(s) designed to achieve a particular goal(s)
    4. 4. A complex adaptation that services an important function in achieving evolutionary success</li></li></ul><li>Aims & Objectives<br />Aim – Reflective of the mission and vision statement(s). An aim is where the business wants to go in the future, its goals. It is a statement of purpose.<br />Objectives – support the aims of the business. Objectives give the business a clearly defined target. Plans can then be made to achieve these aims. It also enables the business to measure the progress towards to its stated aims.<br />
    5. 5. Mission Statement<br />Is reflective of the aims of the organisation and allows stakeholders to understand the vision and values that drive us forward and give reason for the actions of the business.<br />&quot;Begin with the end in mind!’’ Steven Covey<br />
    6. 6. Mission Statement<br />Example:<br />&quot;The Town Council is committed to promoting community values, economic well being, and pride within the community&quot;.<br />The objectives will drive towards this aim<br />
    7. 7. SWOT Analysis<br />Strengths <br />Our history<br />Our culture<br />Our location to other locations<br />Our car parking / train service<br />Hotels / hostelries / eateries<br />Our Market square<br />Forward thinking council <br />
    8. 8. SWOT Analysis<br />Weaknesses<br />Empty shops<br />Dirty streets<br />Lack of development (in some areas)<br />Not ‘fashionable’<br />No tourist information centre for guidance<br />Chamber of Trade<br />
    9. 9. SWOT Analysis<br />Opportunities<br />Gypsy Lane waste land.<br />Canal tourism.<br />Market Square.<br />History<br />Derelict buildings<br />New traders<br />
    10. 10. SWOT Analysis<br />Threats<br />Doing nothing.<br />Apathy.<br />High rents.<br />Derelict buildings<br />