Planning is an important managerial function that involves determining organizational goals and strategies for achieving those goals. Effective planning requires defining objectives, establishing strategies, and developing comprehensive plans to coordinate activities. It focuses on determining what needs to be accomplished in the future and how it will be done. Planning establishes guidelines in the form of policies, procedures, rules and standards. Strategic planning involves high-level decisions about the organization's long-term goals and strategies to interact successfully with the external environment. The overall planning process links the present to the future through missions, goals, and plans to improve organizational efficiency and effectiveness.
Objectives of Planning in Management, The essential objectives of planning in business organization can be described as follows, management study online MSO
Delivered infront of Tri-People (Moros, Christians, & Lumads) in MSU, Marawi City, Balabagan, Malabang, and Kapatagan for the program "Empowering Youth through Enhancing Organizational Skills and Leadership Potential towards Effective Peace Agent
in the Community Project
"
Deploying Hoshin Kanri as a Competitive WeaponGrant Crow
This presentation evaluates the Hoshin Kanri concept, what it is, how it works, what can go wrong and how to make Hoshin really work.
Slide 3: Most people familiar with Hoshin Kanri will know that it translates from Japanese into a "Vision Compass". More importantly, Hoshin is gaining traction due to its recognition of the need to link direction (strategy formulation) with management (implementation).
Slide 4: A key feature of Hoshin Kanri is the concept of Breakthrough Objectives. The concept encourages aggressive objectives together with a structured method for cascading these and breaking them down into manageable pieces.
Slides 5 and 6 address common responses from executives one might encounter when trying to introduce Hoshin Kanri together with the symptoms suggesting that Hoshin Planning is required. The symptoms listed will strike a chord with many readers and represent the product of poor strategy execution.
Slide 8 identifies some of the many leading organizations using Hoshin as their strategy execution methodology. The majority of organizations that we at i-nexus are talking to (particularly in the USA) are either considering implementing Hoshin Kanri or have already made a start.
Slide 9 identifies the value of having a strong strategy execution system by tracking share price performance.
Slides 11 and 12 introduce the link between Hoshin Kanri, and in particular the X matrix concept, and Balanced Scorecards. The traditional Balanced Scorecard clearly introduced value by looking at business metrics from more than purely a financial perspective. In contrast however, the X matrix is a far more robust tool for supporting strategy implementation. The various faces of the X matrix (South, West, North and East) detail the WHAT, HOW FAR, HOW and HOW MUCH of the strategy. Having said that, the X matrix is by no means universally popular as a Hoshin tool and is regarded by some CEO's as too complex. It is clearly a tool more likely to provide value in organizations that are more mature in their strategy execution journey.
Slide 13 shows an example of how the i-nexus software supports both the Hoshin X matrix and Scorecards.
Slide 15 identifies the critical role of the bowling chart in linking between the X matrix and action plans and its use a key management tool to track achievement and lack thereof against goals.
Slide 17 identifies "culture change" as a key barrier to effective Hoshin. Many of our customers do find that the greater transparency achieved with i-nexus can be seen as a threat. This needs to be managed carefully with problems (red traffic lights) seen as discussion points rather than failure.
Slide 22 provides an example of an A3 report. Many i-nexus customers find visual management of progress to be key to obtaining commitment to Hoshin.
Finally slide 24 looks at the value of Hoshin countermeasures in enabling early identification and resolution of barriers to progress.
Better Project Selection using Hoshin Planning and Balanced ScorecardsGrant Crow
Picking the right projects is key to maximizing the impact of an investment in lean six sigma. This presentation looks at how to combine best practices such as Hoshin Planning and Balanced Scorecards with Operational Excellence to create an improvement system that ensures that projects align with business objectives and drive execution of the desired results.
At the beginning of a six sigma journey, many companies choose projects driven by local agendas and problems. The focus tends to be tactical. This however can be a common trap. The company has invested in training of belts, staffing the function etc and the projects acted upon are tactical. This can lead to senior executives losing interest in six sigma as they are not seeing the link into their own strategic objectives.
So leaders need to be very clear in their articulation of what they are trying to achieve together with the assumptions behind this. The Hoshin X matrix concept is a very powerful tool to facilitate this and is used to capture and cascade goals and then enable tight alignment of initiatives to these goals. Once this has taken place, regular reviews need to take place and these are facilitated by bowling charts.These charts help the team to stay focused on the critical things even when day to day business tries to distract them.
Hoshin is really a systematic to get everybody focused on the achievement of clear objectives. The first step requires deciding on 3 - 5 medium term breakthrough objectives. We emphasize breakthrough as these objectives should not be business as usual. These are then converted into annual breakthrough objectives and in turn, these are cascaded either directly into supporting initiatives and projects or annual improvement priorities which are supported by projects. The process creates a red thread from the medium term objectives all the way down to the actions required to deliver on them, the responsible people and the KPI's (both leading and lagging) that will be used to measure progress.
Objectives of Planning in Management, The essential objectives of planning in business organization can be described as follows, management study online MSO
Delivered infront of Tri-People (Moros, Christians, & Lumads) in MSU, Marawi City, Balabagan, Malabang, and Kapatagan for the program "Empowering Youth through Enhancing Organizational Skills and Leadership Potential towards Effective Peace Agent
in the Community Project
"
Deploying Hoshin Kanri as a Competitive WeaponGrant Crow
This presentation evaluates the Hoshin Kanri concept, what it is, how it works, what can go wrong and how to make Hoshin really work.
Slide 3: Most people familiar with Hoshin Kanri will know that it translates from Japanese into a "Vision Compass". More importantly, Hoshin is gaining traction due to its recognition of the need to link direction (strategy formulation) with management (implementation).
Slide 4: A key feature of Hoshin Kanri is the concept of Breakthrough Objectives. The concept encourages aggressive objectives together with a structured method for cascading these and breaking them down into manageable pieces.
Slides 5 and 6 address common responses from executives one might encounter when trying to introduce Hoshin Kanri together with the symptoms suggesting that Hoshin Planning is required. The symptoms listed will strike a chord with many readers and represent the product of poor strategy execution.
Slide 8 identifies some of the many leading organizations using Hoshin as their strategy execution methodology. The majority of organizations that we at i-nexus are talking to (particularly in the USA) are either considering implementing Hoshin Kanri or have already made a start.
Slide 9 identifies the value of having a strong strategy execution system by tracking share price performance.
Slides 11 and 12 introduce the link between Hoshin Kanri, and in particular the X matrix concept, and Balanced Scorecards. The traditional Balanced Scorecard clearly introduced value by looking at business metrics from more than purely a financial perspective. In contrast however, the X matrix is a far more robust tool for supporting strategy implementation. The various faces of the X matrix (South, West, North and East) detail the WHAT, HOW FAR, HOW and HOW MUCH of the strategy. Having said that, the X matrix is by no means universally popular as a Hoshin tool and is regarded by some CEO's as too complex. It is clearly a tool more likely to provide value in organizations that are more mature in their strategy execution journey.
Slide 13 shows an example of how the i-nexus software supports both the Hoshin X matrix and Scorecards.
Slide 15 identifies the critical role of the bowling chart in linking between the X matrix and action plans and its use a key management tool to track achievement and lack thereof against goals.
Slide 17 identifies "culture change" as a key barrier to effective Hoshin. Many of our customers do find that the greater transparency achieved with i-nexus can be seen as a threat. This needs to be managed carefully with problems (red traffic lights) seen as discussion points rather than failure.
Slide 22 provides an example of an A3 report. Many i-nexus customers find visual management of progress to be key to obtaining commitment to Hoshin.
Finally slide 24 looks at the value of Hoshin countermeasures in enabling early identification and resolution of barriers to progress.
Better Project Selection using Hoshin Planning and Balanced ScorecardsGrant Crow
Picking the right projects is key to maximizing the impact of an investment in lean six sigma. This presentation looks at how to combine best practices such as Hoshin Planning and Balanced Scorecards with Operational Excellence to create an improvement system that ensures that projects align with business objectives and drive execution of the desired results.
At the beginning of a six sigma journey, many companies choose projects driven by local agendas and problems. The focus tends to be tactical. This however can be a common trap. The company has invested in training of belts, staffing the function etc and the projects acted upon are tactical. This can lead to senior executives losing interest in six sigma as they are not seeing the link into their own strategic objectives.
So leaders need to be very clear in their articulation of what they are trying to achieve together with the assumptions behind this. The Hoshin X matrix concept is a very powerful tool to facilitate this and is used to capture and cascade goals and then enable tight alignment of initiatives to these goals. Once this has taken place, regular reviews need to take place and these are facilitated by bowling charts.These charts help the team to stay focused on the critical things even when day to day business tries to distract them.
Hoshin is really a systematic to get everybody focused on the achievement of clear objectives. The first step requires deciding on 3 - 5 medium term breakthrough objectives. We emphasize breakthrough as these objectives should not be business as usual. These are then converted into annual breakthrough objectives and in turn, these are cascaded either directly into supporting initiatives and projects or annual improvement priorities which are supported by projects. The process creates a red thread from the medium term objectives all the way down to the actions required to deliver on them, the responsible people and the KPI's (both leading and lagging) that will be used to measure progress.
It can help to many student's or any people who are planning to build their own business. It can help them to improve their managerial or leadership skills in business.
Leadership seminar presentation - Daniel IlungaDaniel Ilunga
This presentation is about what strategic planning is and what its value is to the organisation based on the model suggested by Goodstein et al. (1993 & 2008)
Strategy, budgetary planning and expenditure managementTonderayi Chikanda
Explore how enhancing your strategic planning skills, budgetary planning and expenditure management can significantly transform your organization's effectiveness, efficiency and excellence.
I have used this presentation to help small companies get an understanding how to setup a strategy that is user friendly and can apply to their project model
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
2. 2
Lecture contents
• Planning
• Strategy formulation
• Strategy formulation tools & techniques
• Decision making
• Steps in decision making
3. (c) Arfan Anjum 3
Planning
What many managersWhat many managers
fail to recognize is thatfail to recognize is that
effective planning is goodeffective planning is good
investment & is lessinvestment & is less
costly to organizationcostly to organization
than no planning at all.than no planning at all.
4. What is the Essence ofWhat is the Essence of
Planning Functions?Planning Functions?
• A set of related steps byA set of related steps by
which managementwhich management
determinesdetermines
– What is to be doneWhat is to be done
– How it will be doneHow it will be done
• A set of related steps byA set of related steps by
which managementwhich management
determinesdetermines
– What is to be doneWhat is to be done
– How it will be doneHow it will be done
5. The Importance of PlanningThe Importance of Planning
Why is Planning SoWhy is Planning So
ImportantImportant??
Why is Planning SoWhy is Planning So
ImportantImportant??
ToTo
coordinatecoordinate
effortsefforts
ToTo
coordinatecoordinate
effortsefforts
To prepareTo prepare
for changefor change
To prepareTo prepare
for changefor change
ToTo
developdevelop
managersmanagers
ToTo
developdevelop
managersmanagers
To developTo develop
performanceperformance
standardsstandards
To developTo develop
performanceperformance
standardsstandards
6. 6
Nature & Importance of Managerial PlanningNature & Importance of Managerial Planning
• Who should be involved in planning in anWho should be involved in planning in an
organization?organization?
• All managers must plan.All managers must plan.
• Planning is an intellectual activity & aPlanning is an intellectual activity & a
major component of managerial task.major component of managerial task.
7. PlanningPlanning
• So where do we start?So where do we start?
• By DefiningBy Defining
– Organizational objectives or goalsOrganizational objectives or goals
• Then what?Then what?
– Establish overall strategy for achievingEstablish overall strategy for achieving
these goals.these goals. And then what?And then what?
– Develop a comprehensive hierarchy ofDevelop a comprehensive hierarchy of
plans to integrate & coordinateplans to integrate & coordinate
activitiesactivities
• So where do we start?So where do we start?
• By DefiningBy Defining
– Organizational objectives or goalsOrganizational objectives or goals
• Then what?Then what?
– Establish overall strategy for achievingEstablish overall strategy for achieving
these goals.these goals. And then what?And then what?
– Develop a comprehensive hierarchy ofDevelop a comprehensive hierarchy of
plans to integrate & coordinateplans to integrate & coordinate
activitiesactivities
8. What is the Focus of Planning?What is the Focus of Planning?
• PlanningPlanning focuses on future,focuses on future, ““What”What” is to beis to be
accomplished andaccomplished and “How”“How”??
• What means:What means:
– Objectives for futureObjectives for future
• How means:How means:
– Appropriate means & strategies for achievingAppropriate means & strategies for achieving
these objectives.these objectives.
9. OutcomeOutcome
• Outcome of planning function is aOutcome of planning function is a
planplan, which is, which is
• A written document that specifiesA written document that specifies
courses of action that the firm willcourses of action that the firm will
take with available resourcestake with available resources
10. Levels of Plans
•Standing PlansStanding Plans that provide ongoing guidance forthat provide ongoing guidance for
performing recurring activitiesperforming recurring activities
•PolicyPolicy A general guide that specifies that broadA general guide that specifies that broad
parameters within which organization members areparameters within which organization members are
expected to operate in pursuit of organizational goals.expected to operate in pursuit of organizational goals.
•““Service”Service” A document specifying the behaviors thatA document specifying the behaviors that
will maintain the gold standard of service, for instance,will maintain the gold standard of service, for instance,
employees are urged to maintain positive eye contactemployees are urged to maintain positive eye contact
and use the proper vocabulary with guests (e.g., “Goodand use the proper vocabulary with guests (e.g., “Good
Morning,” “Certainly, ‘l”ll be happy to, “ and “MyMorning,” “Certainly, ‘l”ll be happy to, “ and “My
pleasure”)pleasure”)
11. Levels of PlansLevels of Plans
•ProcedureProcedure A prescribed series of related steps to beA prescribed series of related steps to be
taken under certain recurring circumstances. Well-establishedtaken under certain recurring circumstances. Well-established
and formalized procedures are often called standard operatingand formalized procedures are often called standard operating
procedures (SOPs).procedures (SOPs).
•RuleRule A statement that spells out specific actions to be takenA statement that spells out specific actions to be taken
or not taken in a given situationor not taken in a given situation
12. Issues in PlanningIssues in Planning
1.1. Being aware of OpportunitiesBeing aware of Opportunities
2.2. Establishing ObjectivesEstablishing Objectives
3.3. Determining Alternative CoursesDetermining Alternative Courses
4.4. Evaluating Alternative CoursesEvaluating Alternative Courses
5.5. Selecting a Course of actionSelecting a Course of action
6.6. Formulating Derivative PlansFormulating Derivative Plans
7.7. Numberizing Plans By BudgetingNumberizing Plans By Budgeting
1.1. Being aware of OpportunitiesBeing aware of Opportunities
2.2. Establishing ObjectivesEstablishing Objectives
3.3. Determining Alternative CoursesDetermining Alternative Courses
4.4. Evaluating Alternative CoursesEvaluating Alternative Courses
5.5. Selecting a Course of actionSelecting a Course of action
6.6. Formulating Derivative PlansFormulating Derivative Plans
7.7. Numberizing Plans By BudgetingNumberizing Plans By Budgeting
13. 13
Major components of planning
• Some use the term “goal” interchangeably with
“objective”. Others consider “goal” to be a broader
term, encompassing a longer term horizon, and
use “objective” to refer to more narrow targets and
shorter time frames.
• We will use both the terms interchangeably for the
sake of simplicity.
14. 14
Major components of planning
• Whereas a goal is a future end result that an
organization wants to achieve, a plan, normally a
written document, is the means devised for
attempting to reach a goal
• Essentially, the planning process builds on the
mission of the organization, the organization’s
purpose or fundamental reason for existence.
15. 15
Components of planning
• A Mission Statement is broad declaration
of the basic, unique purpose and scope of
operations that distinguish the
organization from others of its type.
18. Strategic- Planning
• It involves decisions made by top
management.
• Involves ultimate allocation of large
amounts of resources such as money, labor,
or physical capacity.
• Has significant long term impact.
• Focuses on organization’s interaction with
external environment.
19. Strategic Planning
• Strategic planning includes
those activities that involves
defining an organization’s
mission, setting its objectives,
& developing strategies to
enable it to operate successfully
in its environment.
20. 20
Linking present & future with
strategic plan
StrategicStrategic
planplanPresentPresent FutureFuture
21. Strategic Planning
Strategic
Planning
Making decisions about the
long-term goals and
strategies of an organization
Strategic Goals
Major targets or end results that relate to the long-
term survival, value, and growth of the
organization
Strategy
A pattern of actions and resource allocations designed to achieve
the goals of the organization
22. 22
ANALYZING COMPETITIVE
ADVANTAGE
• Strategic Planning is concerned with the development
and implementation of means by which firms can
achieve superior long-run financial performance.
• Firms achieve such returns either by making
themselves more attractive to customers or by
producing at lower cost while not making themselves
less attractive to customers – this process is described
as a search for competitive advantage.
23. 23
ANALYZING COMPETITIVE
ADVANTAGE
Elements of Competitive Advantage
Sources of Advantage
•Superior skills
•Superior Resources
Performance Outcomes
•Satisfaction
•Loyalty
•Market share
•Profitability
Potential Advantages
•Superior customer value
•Lower relative costs
Investment of Profits
to Sustain Advantage
25. 25
• Environmental Scanning & SWOT Analysis -
assess the firm’s external and internal environments to
identify strengths, weaknesses, opportunities and threats.
• One technique for assessing a firm’s strengths and
weaknesses is the value chain - which is a breakdown of
the firm into its important activities - production,
marketing, human resource management, and the like - to
enable corporate strategists to identify the firm’s
competitive advantages and disadvantages.
ENVIRONMENTAL SCANNING
AND SWOT ANALYSIS
26. 26
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• The assessment of firm’s strengths and
weaknesses is essentially a two-stage process;
– In the first stage, we ask for what dimensions does a
firm need to assess its strengths and weaknesses?
– The second stage involves the application of
measurement approaches to those dimensions identified
as “critical” in the first stage.
27. 27
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• Research and Development (Innovation).
– Technical Resources
• Technological ability, patents
– Key People
– Financial Resources
• Internally generated
• Outsourced and Government supplied
28. 28
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• Production (Manufacturing).
– Cost Structure
• Experience
• Process
• Efficiency
• Access to raw material
– Product Quality
– Flexibility
– Workforce skills, attitudes and motivation
– Capacity
29. 29
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• Finance
– Access to Capital
• From operations,
• From parent and
• From net short-term assets
– Ability to use both Debt and Equity
• Organization (Management).
– Organizational Structure
– Key People
• Loyalty
30. 30
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• Organization (Management).
– Quality of Planning Process
– Knowledge of Business
– Speed of Response
– Culture
31. 31
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• Marketing Skills
– Customer Orientation
– New Product Development
– Marketing Research
– Reputation
• Brand name
• Quality
– Advertising
– Sales Force
– Customer Service
– Product Line Breadth
32. 32
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• Relations with External Entities
– Customer Loyalty
– Retailers
– Distributors
– Banks
– Political Figures
33. 33
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• The number of dimensions on which relative strengths
and weaknesses could potentially be assessed is as large as
the number of ways on which firms can differ.
• Does a firm need to be superior to its competitors on all
(or even most) of these dimensions to gain competitive
advantage? Clearly the answer is no.
• Firms with different competitive advantages coexist in a
variety of industries.
34. 34
DIMENSIONS FOR ASSESSING
STRENGTHS AND WEAKNESSES
• A single dimension of superiority, however, may not be
quite enough. Studies have found that firms tend to
exercise between four and five dimensions of competitive
advantage.
• Critical or key success factors have been described as the
handful of skills and resources that will exert the most
leverage on positional advantage and performance
outcomes. These must be managed obsessively to ensure
success. Poor performance on these factors will almost
certainly mean failure.
35. 35
Planning tools &techniques
• Many tools & techniques can be used at all
planning stages. Some of these are
– Value analysis
– Market analysis
– Gap analysis
– Financial analysis
– Group decision making
36. 36
Value analysis
• Driving forces in the business are itemized and
analyzed.
• Activities that add value, such as manufacturing,
R&D, marketing etc needs to be analyzed and
identified.
• Customer satisfaction is highest on the list of
value analysis.
• Customer satisfaction surveys conducted on the
behalf of the company by an independent
organization.
• Critical success factors should be identified and
high performance should be given in those areas.
37. 37
Market analysis
• Analysis of many different markets-related
factors that affect the products and services
provided by the organizations.
• The aim is to identify market niches and
new opportunities.
• Key is Competitor analysis it should be
broken into many areas.
• Another factor is competitive advantages.
38. 38
Market analysis
• Analysis areas are
• Finance & control
• Manufacturing
• Processes
• Alliances
• Marketing aspects
• Customer relationships
• Supplier relationships
• Sales & distribution
• Another key market analysis is benchmarking
• It will high light the strengths and weaknesses and
the way to improve.
39. 39
Gap analysis
• Technique for identifying the difference between
the aims of the organization and expected results.
• The difference between aims and expected results
is the gap which organization needs to fulfill.
• The aims are future plans and expected results are
outcome based on the current plans.
• Gap analysis can be done in many areas. Profits,
technological advancements, customer
satisfactions etc.
• Gap analysis deals with corporate aims, expected
results, size of gap, method of filling the gap.
40. 40
Financial analysis
• Several tools exists for financial analysis.
• Rate of return, payback period assessment,
profitability, balance sheets internal & external
audits.
• Enables company to determine its financial
position.
• Company can review its Budgeting, funding, and
can improve its cost control by using financial
analysis.
41. 41
Group decision making
• Decision making by a group is often more
effective than by individuals.
• Different points of view are developed,
debated, analyzed, refined and finally
accepted by the group.
• This technique take up considerable
organizational resources and requires
participants with good analytical skills.
42. 42
Plan implementation
• Final steps in strategy formulation are to define actions,
allocate these within the organization and measure results.
• Various goals set in strategic planning can be considered
to be long term, medium term and short term.
• Long term goals are few and are of general nature. For
example increasing market share by 5%.
• Medium term goals are more than long term but less than
short term goals, for example the goal to develop two new
products to increase the market share by 5%.
• Short term goals are more specific and cover actions like
define product to meet market requirements, agree
budgets, prepare manufacturing plans, select technologies
to use.
43. 43
Plan implementation
• Plan needs to be communicated to all levels within the
organization.
• In the form that is meaning full to each level, showing
their relevance and contribution towards it.
• Management by objectives MBO is effective
technique for this.
• All strategic plans should have high elements of
change, efforts are needed that the change should be
accepted by all levels.
• If the staff is involved in the decision making process
than there will be less resistance in accepting the
change.
44. 44
MBO
• Established technique for implementation of company’s
plans.
• It ensures that management at all levels is committed to
same goals. The steps are,
• Org goals are set by the executives with involvement of
others within the org.
• Objectives are agreed for all levels within the org, all the
levels set their objectives to meet the main objective.
• Progress is monitored against each objective, necessary
changes are made if required.
• Individuals are appraised against their objectives and
feedback provided.
• Reward is usually associated with attainment of the
objective.
45. Steps in the MBO
1. Develop overall organizational goals
2. Establish specific goals for various dept,
subunits, and individuals
3. Formulate action plans
4. Implement plans and maintain self-control
5. Review progress periodically
6. Appraise performance