The document provides guidance on developing a business plan for a new clinical service, including conducting market research, assessing competitors, determining needed resources, establishing goals and objectives, and documenting the plan. It emphasizes understanding customer needs, developing a value proposition, creating a mission statement, and convincing investors that there is demand for the product or service.
This document provides guidance for developing a business plan for a new clinical service. It begins by discussing the importance of planning and identifying the key components of any system that is being planned for. This includes considering inputs, processes, outputs, and outcomes. It also discusses analyzing the situation, establishing goals and strategies, and assigning responsibilities. The document then discusses sources of new ideas, the need to conduct market research to validate ideas, and how to analyze competitors. It concludes by identifying some initial considerations for the business plan, including determining needs and markets, financial planning, goals, and human resource needs. The overall purpose is to help guide the development and presentation of a strong business plan for a new clinical service idea.
The document provides an overview of training on building a business plan, with a focus on social business plans. It discusses the objectives of the training, which are to understand the differences between business plans, project proposals, and social business plans. It also reviews how to understand the basic parts of a business plan step-by-step. The document then outlines the key sections of a business plan, including the business description, market analysis, operations plan, financial management, and appendix. It emphasizes that the financial plan is the primary evaluating tool, and stresses the importance of making conservative financial projections with defendable assumptions.
it is about the basic research. it tells the role of research objective, method and evaluation in generality. it is an overview of research for basic learner
This document outlines the key components and importance of a business plan. It discusses that a business plan serves as a framework to help a business achieve its goals and benchmarks. The business plan is also a selling document that conveys the promise of the business to potential backers. Key components of an effective business plan include detailing the product or service, organizational structure, financial plans, statutory compliances, risk assessment, marketing strategy, management team, and production plans. Regular reviews and course corrections are important to help ensure the business plan remains realistic and effective.
This document discusses the importance and process of conducting a feasibility study before starting or expanding a business. A feasibility study evaluates the viability of a business idea by assessing potential markets, required resources and costs, and chances of success. It outlines various business scenarios and helps inform the decision of whether to proceed with an idea ("go/no go decision"). Key parts of a feasibility study include defining the project, analyzing market potential and competition, evaluating technical and financial requirements, and assessing managerial capabilities. The results are a major information source for deciding to move forward with a business concept.
A feasibility analysis determines if a business idea is viable by evaluating four components: product/service feasibility, including desirability and demand; industry/target market attractiveness; available management competence and resources; and total startup costs, financial projections of similar businesses, and overall attractiveness. It should be conducted early in the ideation process before committing significant resources, to screen ideas and inform the ongoing development of business plans and ideas.
The document discusses the importance of a business plan for starting a new venture. It defines a business plan as a written document prepared by an entrepreneur that describes the internal and external elements and strategies of a new business. The business plan is valuable for entrepreneurs, investors, and employees. It helps determine the viability of the venture, provides guidance for planning activities, and helps obtain financing. The document outlines the typical sections of a business plan, including an executive summary, environmental analysis, description of the venture, marketing plan, financial plan, and appendix. It also discusses implementing, updating, and measuring the progress of the business plan.
This document provides guidance for developing a business plan for a new clinical service. It begins by discussing the importance of planning and identifying the key components of any system that is being planned for. This includes considering inputs, processes, outputs, and outcomes. It also discusses analyzing the situation, establishing goals and strategies, and assigning responsibilities. The document then discusses sources of new ideas, the need to conduct market research to validate ideas, and how to analyze competitors. It concludes by identifying some initial considerations for the business plan, including determining needs and markets, financial planning, goals, and human resource needs. The overall purpose is to help guide the development and presentation of a strong business plan for a new clinical service idea.
The document provides an overview of training on building a business plan, with a focus on social business plans. It discusses the objectives of the training, which are to understand the differences between business plans, project proposals, and social business plans. It also reviews how to understand the basic parts of a business plan step-by-step. The document then outlines the key sections of a business plan, including the business description, market analysis, operations plan, financial management, and appendix. It emphasizes that the financial plan is the primary evaluating tool, and stresses the importance of making conservative financial projections with defendable assumptions.
it is about the basic research. it tells the role of research objective, method and evaluation in generality. it is an overview of research for basic learner
This document outlines the key components and importance of a business plan. It discusses that a business plan serves as a framework to help a business achieve its goals and benchmarks. The business plan is also a selling document that conveys the promise of the business to potential backers. Key components of an effective business plan include detailing the product or service, organizational structure, financial plans, statutory compliances, risk assessment, marketing strategy, management team, and production plans. Regular reviews and course corrections are important to help ensure the business plan remains realistic and effective.
This document discusses the importance and process of conducting a feasibility study before starting or expanding a business. A feasibility study evaluates the viability of a business idea by assessing potential markets, required resources and costs, and chances of success. It outlines various business scenarios and helps inform the decision of whether to proceed with an idea ("go/no go decision"). Key parts of a feasibility study include defining the project, analyzing market potential and competition, evaluating technical and financial requirements, and assessing managerial capabilities. The results are a major information source for deciding to move forward with a business concept.
A feasibility analysis determines if a business idea is viable by evaluating four components: product/service feasibility, including desirability and demand; industry/target market attractiveness; available management competence and resources; and total startup costs, financial projections of similar businesses, and overall attractiveness. It should be conducted early in the ideation process before committing significant resources, to screen ideas and inform the ongoing development of business plans and ideas.
The document discusses the importance of a business plan for starting a new venture. It defines a business plan as a written document prepared by an entrepreneur that describes the internal and external elements and strategies of a new business. The business plan is valuable for entrepreneurs, investors, and employees. It helps determine the viability of the venture, provides guidance for planning activities, and helps obtain financing. The document outlines the typical sections of a business plan, including an executive summary, environmental analysis, description of the venture, marketing plan, financial plan, and appendix. It also discusses implementing, updating, and measuring the progress of the business plan.
This document provides an overview of key considerations for establishing or purchasing a pharmacy business. It discusses factors like location analysis, lease agreements, capital requirements, purchasing an existing business versus starting a new one, and tasks involved in both options. The document is a guide for prospective pharmacy owners on important business and operational aspects to evaluate in starting or buying a pharmacy practice.
The document discusses human resources management and labor laws in British Columbia. It addresses topics like managing HR processes, treating employees as investments, communication skills, leadership qualities, an overview of key BC labor laws regarding employment standards, human rights, occupational health and safety, workers compensation, and privacy laws. The document provides information on discrimination, harassment, recruiting and selecting employees, and filing complaints to help employers understand and comply with their legal obligations.
Small Business BC seminar and webinar presentation is about planning and crafting a crucial part of the blue print of the overall business plan including what items to prepare for a meeting with a prospective retail customer.
Presentation to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course. Introduction of basic marketing concepts and how they relate to marketing professional patient services beyond dispensing.
UBC Phar400-Business Plan Essentials 3Oct2014Gerry Spitzner
Presented to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course to help them prepare their business plan and pitch presentation for a sustainable patent service.
UBC Phar400-Employment Law & Interviewing 31Oct2014Gerry Spitzner
Overview of Canadian and BC employment law presented to 4th year UBC Pharmacy students. How it relates to the Pharmacy workplace, recruiting and interviewing to help students prepare their mid-term job description assignment.
UBC Phar400-business of pharmacy-14sept2012Gerry Spitzner
The document discusses key aspects of retail pharmacy management. It begins with an introduction and list of objectives. It then covers various topics related to operating a pharmacy retail business such as the people and moving parts involved, types of pharmacy practices, differences between retail pharmacy models, logistics and supply chain management, key controllable areas like inventory, pricing, merchandising and staffing, and future developments and opportunities in the industry. The document also includes a glossary of common acronyms and terms used in retail pharmacy.
The business of pharmacy january 2013 long versionGerry Spitzner
This document provides a high-level overview of pharmacy management in Canada and British Columbia. It discusses key topics such as the types of pharmacies, pharmaceutical logistics and supply chains, the four controllable parts of a retail pharmacy business, and customer experience. It also examines future developments, issues, and opportunities in the pharmacy industry.
Why retailers buy. How to approach retailers. What retailers are thinking about. What retail buyers look for in suppliers. What retail buyers look for in a product. Retail pricing & merchandising. Retail distribution, supply chain & logistics channels.
Your sales & marketing plan
UBC Phar400 Marketing Pharmacy Professional Services-25Oct2013Gerry Spitzner
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this fourth presentation of the semester we focus on Marketing healthcare professional services. We define marketing and explain how the marketing concept applies to marketing professional services.
Learning objectives:
>Brand and Branding
>Marketing 101
>Managing the Marketing Mix
>Marketing Pharmacy Professional Services
UBC Phar400 Business of Retail Pharmacy 3.0 11Sept2015Gerry Spitzner
This document provides an overview of retail community pharmacy management. It discusses thought starters on customer experience and operational areas. It outlines different pharmacy formats including corporate, franchise, banner, and independent pharmacies. It also discusses pharmaceutical logistics and supply chains. The document explores future developments, opportunities, and trends for retail pharmacies, including a shift towards payment based on patient outcomes rather than medication volume. It emphasizes the importance of patient services and engagement to leverage pharmacists' role in healthcare.
UBC Phar400 Biusiness of Retail Pharmacy 3.0 23Jan2015Gerry Spitzner
This document provides an overview of retail pharmacy business in Canada and British Columbia. It discusses the different types of retail pharmacy formats including corporate pharmacy, franchise pharmacy, banner pharmacy, and independent pharmacy. It also outlines the complex pharmaceutical supply chain and logistics system. Finally, it addresses key functional areas of retail pharmacy operations and discusses future trends, including a shift toward greater consumer spending on healthcare.
Small Business BC Retail Distribution-09Dec2013Gerry Spitzner
The document provides an overview of key considerations for small businesses selling products to retailers. It discusses topics such as understanding the retailer's perspective, how to approach retailers, what retailers look for in suppliers and products, retail pricing and distribution channels, common retail terminology, and creating an effective sales and marketing plan for retailers. The document emphasizes learning about the retailer's business, customers, and priorities; keeping presentations simple; focusing on the value provided to the retailer; and being prepared to address retailer needs and objections.
Small Business BC-retail distribution-26jan2012Gerry Spitzner
Workshop/seminar on moving your product line to retail market. Designed for importers and suppliers on how to approach retailers, methods retailers use to list products, and an overview of the logistics and retail supply chain. Updated Jan 2012
UBC Phar400-pharmacy business planning-27jan2012Gerry Spitzner
Guest lecture to UBC Entry to Practice 4th year Pharmacy students about strategic business planning and their semester term project to present a business plan for a new clinical service.
UBC Phar400 Business Plan Essentials-20Sept2013Gerry Spitzner
The document provides guidance on creating a business plan for a new clinical service. It discusses key elements to address in a business plan, including defining the business concept, establishing goals, identifying the market, determining sales strategies, developing financial projections, and creating an effective presentation. The document emphasizes starting with the end in mind by understanding customer needs and developing a unique value proposition. It also stresses the importance of conducting market research and a competitive analysis to support the business plan.
This document provides an overview of key considerations for establishing or purchasing a pharmacy business. It discusses factors like location analysis, lease agreements, capital requirements, purchasing an existing business versus starting a new one, and tasks involved in both options. The document is a guide for prospective pharmacy owners on important business and operational aspects to evaluate in starting or buying a pharmacy practice.
The document discusses human resources management and labor laws in British Columbia. It addresses topics like managing HR processes, treating employees as investments, communication skills, leadership qualities, an overview of key BC labor laws regarding employment standards, human rights, occupational health and safety, workers compensation, and privacy laws. The document provides information on discrimination, harassment, recruiting and selecting employees, and filing complaints to help employers understand and comply with their legal obligations.
Small Business BC seminar and webinar presentation is about planning and crafting a crucial part of the blue print of the overall business plan including what items to prepare for a meeting with a prospective retail customer.
Presentation to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course. Introduction of basic marketing concepts and how they relate to marketing professional patient services beyond dispensing.
UBC Phar400-Business Plan Essentials 3Oct2014Gerry Spitzner
Presented to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course to help them prepare their business plan and pitch presentation for a sustainable patent service.
UBC Phar400-Employment Law & Interviewing 31Oct2014Gerry Spitzner
Overview of Canadian and BC employment law presented to 4th year UBC Pharmacy students. How it relates to the Pharmacy workplace, recruiting and interviewing to help students prepare their mid-term job description assignment.
UBC Phar400-business of pharmacy-14sept2012Gerry Spitzner
The document discusses key aspects of retail pharmacy management. It begins with an introduction and list of objectives. It then covers various topics related to operating a pharmacy retail business such as the people and moving parts involved, types of pharmacy practices, differences between retail pharmacy models, logistics and supply chain management, key controllable areas like inventory, pricing, merchandising and staffing, and future developments and opportunities in the industry. The document also includes a glossary of common acronyms and terms used in retail pharmacy.
The business of pharmacy january 2013 long versionGerry Spitzner
This document provides a high-level overview of pharmacy management in Canada and British Columbia. It discusses key topics such as the types of pharmacies, pharmaceutical logistics and supply chains, the four controllable parts of a retail pharmacy business, and customer experience. It also examines future developments, issues, and opportunities in the pharmacy industry.
Why retailers buy. How to approach retailers. What retailers are thinking about. What retail buyers look for in suppliers. What retail buyers look for in a product. Retail pricing & merchandising. Retail distribution, supply chain & logistics channels.
Your sales & marketing plan
UBC Phar400 Marketing Pharmacy Professional Services-25Oct2013Gerry Spitzner
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this fourth presentation of the semester we focus on Marketing healthcare professional services. We define marketing and explain how the marketing concept applies to marketing professional services.
Learning objectives:
>Brand and Branding
>Marketing 101
>Managing the Marketing Mix
>Marketing Pharmacy Professional Services
UBC Phar400 Business of Retail Pharmacy 3.0 11Sept2015Gerry Spitzner
This document provides an overview of retail community pharmacy management. It discusses thought starters on customer experience and operational areas. It outlines different pharmacy formats including corporate, franchise, banner, and independent pharmacies. It also discusses pharmaceutical logistics and supply chains. The document explores future developments, opportunities, and trends for retail pharmacies, including a shift towards payment based on patient outcomes rather than medication volume. It emphasizes the importance of patient services and engagement to leverage pharmacists' role in healthcare.
UBC Phar400 Biusiness of Retail Pharmacy 3.0 23Jan2015Gerry Spitzner
This document provides an overview of retail pharmacy business in Canada and British Columbia. It discusses the different types of retail pharmacy formats including corporate pharmacy, franchise pharmacy, banner pharmacy, and independent pharmacy. It also outlines the complex pharmaceutical supply chain and logistics system. Finally, it addresses key functional areas of retail pharmacy operations and discusses future trends, including a shift toward greater consumer spending on healthcare.
Small Business BC Retail Distribution-09Dec2013Gerry Spitzner
The document provides an overview of key considerations for small businesses selling products to retailers. It discusses topics such as understanding the retailer's perspective, how to approach retailers, what retailers look for in suppliers and products, retail pricing and distribution channels, common retail terminology, and creating an effective sales and marketing plan for retailers. The document emphasizes learning about the retailer's business, customers, and priorities; keeping presentations simple; focusing on the value provided to the retailer; and being prepared to address retailer needs and objections.
Small Business BC-retail distribution-26jan2012Gerry Spitzner
Workshop/seminar on moving your product line to retail market. Designed for importers and suppliers on how to approach retailers, methods retailers use to list products, and an overview of the logistics and retail supply chain. Updated Jan 2012
UBC Phar400-pharmacy business planning-27jan2012Gerry Spitzner
Guest lecture to UBC Entry to Practice 4th year Pharmacy students about strategic business planning and their semester term project to present a business plan for a new clinical service.
UBC Phar400 Business Plan Essentials-20Sept2013Gerry Spitzner
The document provides guidance on creating a business plan for a new clinical service. It discusses key elements to address in a business plan, including defining the business concept, establishing goals, identifying the market, determining sales strategies, developing financial projections, and creating an effective presentation. The document emphasizes starting with the end in mind by understanding customer needs and developing a unique value proposition. It also stresses the importance of conducting market research and a competitive analysis to support the business plan.
Social business or social enterprise needs careful planning. This slide series was developed and presented for the Social Business Launch Pad seminars by William P. Kittredge, PhD. The Social Business Launch Pad is a joint education seminar series co-sponsored by the Yunus Center at AIT and the Thai Social Enterprise Office http://www.tseo.or.th/
Slides Dominic Gadoury recently used in his discussion w/ mentees of The Product Mentor.
The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People.
Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.
http://TheProductMentor.com
The document discusses various aspects of planning including definitions of planning, characteristics of good plans and policies, types of plans such as vision and mission statements, strategies like SWOT analysis, and the process of decision making. It provides definitions of planning from various authors and notes that planning is goal oriented, involves choice, and is a continuous process. Good plans should have clearly defined objectives and be flexible, economical, and prepared with input from concerned parties. The document also discusses types of plans like vision, mission, strategies, and objectives, and outlines the typical steps in decision making.
Business research methods are systematic activities undertaken to increase knowledge. Research is needed to make informed business decisions and solve problems. Good research is guided by a clear question or problem, has a specific plan, interprets data to resolve the issue, and is cyclical in nature. Decision support systems and business intelligence systems help managers make decisions by providing access to large data volumes and using analytical models to identify patterns and trends. These systems support a variety of decision processes without making the final decision.
Business development and enterprise (update) 1ahzilah
This document contains information about business development and strategic planning. It discusses key concepts such as:
- Defining business development and identifying opportunities through environmental scanning.
- Developing marketing, financing, and customer development plans to pursue opportunities.
- Components of an effective business development plan including situation analysis, SWOT analysis, and goals/objectives.
- Strategic planning processes such as developing a vision/mission, setting aims/objectives, analyzing internal/external factors, and evaluating strategies.
The document discusses the business planning process. It begins with defining a business plan and its objectives. It then outlines the various steps in preparing a business plan, including preliminary investigation, idea generation, environmental scanning, feasibility analysis, project report preparation, and evaluation/control/review. For each step, key activities and considerations are described at a high level. The document provides an overview of the essential information and process one should follow when developing a business plan to start a new venture.
Linking Strategy to Metrics - KPI working Group Presentation 5Chikodi Onyemerela
This document discusses the importance of linking strategy to metrics for the British Council. It defines key terms like strategy, metrics, and KPIs. The document provides examples of different types of metrics that could be used by the British Council, including product, market, communication, and new product development metrics. It also discusses frameworks like the balanced scorecard that can be used to link strategic objectives to metrics across key areas like finance, customers, internal processes, and learning/growth. Overall, the document advocates for using the right metrics to measure strategy and ensure resources are focused on achieving organizational goals.
The document summarizes Capita's services for optimizing employee reward and benefit programs. It provides data-driven strategic reviews and designs of programs to improve engagement and identify cost savings. Key services include benchmarking current programs against market data, conducting workforce demographic analyses, and establishing governance processes to ensure programs meet evolving business needs. Clients have realized direct annual savings of over £17 million through Capita's evidence-based optimization approach.
This document discusses developing an effective business strategy through a strategic planning process. It outlines four key questions to answer: 1) How do customers see us? 2) How do we see ourselves? 3) How do we see the future? 4) What are we going to do? The strategic planning process involves gathering input from customers, employees, and competitors to develop a vision for the future of the business and a specific action plan for the upcoming year. Regular review and implementation is emphasized to ensure the strategic plan is put into action and the business can adapt as needed.
This document discusses developing an effective business strategy through a strategic planning process. It outlines four key questions to answer: 1) How do customers see us? 2) How do we see ourselves? 3) How do we see the future? 4) What are we going to do? The strategic planning process involves gathering input from customers, employees, and competitors to develop a vision for the future of the business and a specific action plan for the upcoming year. Regular review and implementation is important to ensure the strategic plan guides the business and does not just sit on a shelf.
This document discusses developing an effective business strategy through a strategic planning process. It outlines four key questions to answer: 1) How do customers see us? 2) How do we see ourselves? 3) How do we see the future? 4) What are we going to do? The strategic planning process involves gathering input from customers, employees, and competitors to develop a vision for the future of the business and a specific action plan for the upcoming year. Regular review and implementation is emphasized to ensure the strategic plan is put into action and the business can adapt as needed.
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
This document provides an introduction to marketing, outlining key concepts like the marketing mix, marketing plan, goals, strategies, and tactics. It explains the 6 P's of marketing as product, place, price, promotion, people, and positioning. It also discusses developing a marketing plan, conducting market research and stakeholder analysis, setting goals and strategies, making an action plan, different marketing activities, using media releases and stories, planning events, and evaluating marketing efforts. The overall purpose is to consider how to build an effective marketing strategy and campaign.
Business and digital marketing, 7ps of marketing.let's learn
Marketing involves exploring customer needs to create and deliver value through products and services. It aims to generate revenue by identifying unmet needs, measuring market potential, and satisfying customer needs at a profit. Marketing research systematically collects and analyzes information to help organizations make better decisions regarding identifying problems and opportunities. There are various types of marketing research like surveys, interviews, focus groups, and observation.
Project development and implementation for strategic managersBhavi Bhatia
This document outlines tasks and guidelines for developing a new product or service for an organization. It discusses choosing an organization, developing a business case and plan, and identifying costs and resources required. It emphasizes understanding customers, strong product management, identifying the best ideas, proper project management, and support for customization as crucial factors for success. It also discusses evaluating staff training costs, qualitative and quantitative data collection methods, and setting up effective data collection programs.
Kompani Group is a business strategy, branding, marketing, and digital experience firm that focuses on empowering clients through valuable assets, solutions, know-how, improved processes, training, and tools. They have experience working with multinational organizations and startups. Kompani Group delivers value through their extensive experience applying strategic and design thinking to client work. Their disciplined process helps clients take their business to the next level through analysis, planning, implementation, and measuring results.
Strategy creates context for operating decisions.
It establishes the playing field and provides guidance for decision-making, the experience and skills needed by employees, positioning of marketing and advertising, the priority of initiatives, how to structure the company, and a many other issues.
In developing strategy, leaders make conscious and informed choices about who they are and what they stand for:
–What are our core values and beliefs?
–What markets and customer groups will we serve?
–What products and services will we offer and how profitable is each one?
–What infrastructure, core processes and resources must we have to succeed?
–What competitive advantages will cause us to succeed?
–What core competencies must we have to fuel our growth?
–How will we sell our products and services?
–How will we market our products and services?
–What financial results will we achieve?
In this A to Z we will cover some of the main elements of business strategy and give you some tricks and tips along the way!
This document provides an overview of strategic management. It defines strategy as a comprehensive plan that identifies long-term goals and guides resource allocation. Strategic management is described as the process of formulating, implementing, and evaluating strategies to achieve goals and maintain competitive advantage. The key components of strategic management are then outlined, including environmental scanning, strategy formulation, implementation, and evaluation and control. Various models and approaches to strategic management are also discussed.
Similar to UBC Phar400-18Jan2013 business-planning-long (20)
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this third presentation of the semester we review Employment Law and the rules that govern the workplace in Canada and in particular British Columbia.
Learning objectives:
>Human Rights Act and BC Human Rights Code
>Employment Standards Act
>Labour Relations
>Workers Compensation Act
>Personal Information Protection Act (PIPA)
>Employment interviews
UBC Phar400 Business of Retail Pharmacy-13Sept2013Gerry Spitzner
This document provides an overview of the retail pharmacy business in Canada and British Columbia. It discusses the different types of pharmacies, including corporate, franchise, banner, and independent. It also examines the pharmaceutical supply chain and logistics, the key controllable aspects of a retail pharmacy like inventory, pricing, and staffing. The document notes several future trends for the industry like an enhanced role for pharmacists, an aging population, and increasing demand for pharmacy services. It predicts ongoing reimbursement challenges and the need for change management skills.
Small Business BC Retail Distribution-3Jun2013Gerry Spitzner
Have you developed a product that you are ready to distribute to the retail market but not sure where to start?
Attend this seminar and let Gerry Spitzner use his 40 years of retail experience to help you plan your sales strategy with potential retailers.
Learning Objectives:
>Discover how to structure sales calls to retailers, with the best results.
>Understand the methods retailers use to decide what products they will buy for their stores.
>Find out the common challenges retailers face; how and why they buy.
>Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
>Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
>Find out how merchandising and pricing works in both chain and independent retailers.
>Discover the logistics and supply chain systems of getting products to the retailers’ door.
Small Business BC Retail Distribution-18Apr2013Gerry Spitzner
Have you developed a product that you are ready to distribute to the retail market but not sure where to start?
Attend this seminar and let Gerry Spitzner use his 40 years of retail experience to help you plan your sales strategy with potential retailers.
Learning Objectives:
>Discover how to structure sales calls to retailers, with the best results.
>Understand the methods retailers use to decide what products they will buy for their stores.
>Find out the common challenges retailers face; how and why they buy.
>Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
>Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
>Find out how merchandising and pricing works in both chain and independent retailers.
>Discover the logistics and supply chain systems of getting products to the retailers’ door.
Small Business BC Retail Distribution-7feb2013Gerry Spitzner
Have you developed a product that you are ready to distribute to the retail market but not sure where to start?
Attend this seminar and let Gerry Spitzner use his 40 years of retail experience to help you plan your sales strategy with potential retailers.
Learning Objectives:
>Discover how to structure sales calls to retailers, with the best results.
>Understand the methods retailers use to decide what products they will buy for their stores.
>Find out the common challenges retailers face; how and why they buy.
>Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
>Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
>Find out how merchandising and pricing works in both chain and independent retailers.
>Discover the logistics and supply chain systems of getting products to the retailers’ door.
The document discusses developing a personal brand and value proposition for job searching. It recommends defining who your target audience is, how you can help them, and what makes you different. It also discusses developing a personal value proposition by focusing on your strengths and tying them to your target position. Additionally, it addresses the importance of networking by focusing on helping others and introducing people.
The document summarizes key Canadian employment and labor laws, including the main areas they govern. It discusses the Canadian Human Rights Act, Employment Standards Act, labor relations law, Workers Compensation Act, and Personal Information Protection Act. It notes that these laws establish minimum employment conditions and protect employees from discrimination. The document is intended to provide a general overview of the legal issues around human resources management in British Columbia.
Small Business BC-retail distribution-26 nov2012Gerry Spitzner
Have you developed a product that you are ready to distribute to retail market but not sure where to start?
Learning Objectives:
• Discover how to structure sales calls to retailers, with the best results.
• Understand the methods retailers use to decide what products they will buy for their stores.
• Find out the common challenges retailers face; how and why they buy.
• Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
• Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
• Find out how merchandising and pricing works in both chain and independent retailers.
• Discover the logistics and supply chain systems of getting products to the retailers’ door.
The document discusses various considerations for someone wanting to open a community pharmacy, including whether to buy an existing business or start new, location selection, financing, hiring pharmacists, services offered, and competition factors. Key decisions include choosing a business structure, securing an optimal lease, and ensuring sufficient initial funding. Overall community pharmacy ownership remains possible with guidance.
Small Business BC-retail distribution-09oct2012Gerry Spitzner
Workshop/seminar on moving your product line to retail market. Designed for importers and suppliers on how to approach retailers, methods retailers use to list products, and an overview of the logistics and retail supply chain. Updated Oct2012.
The document discusses several key areas of employment and labor law in British Columbia, including human rights legislation, employment standards, labor relations, occupational health and safety laws, and privacy laws. It provides an overview of the relevant acts and codes, highlights important considerations for employers, and notes the different agencies responsible for administering the laws.
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Tired of chasing down expiring contracts and drowning in paperwork? Mastering contract management can significantly enhance your business efficiency and productivity. This guide unveils expert secrets to streamline your contract management process. Learn how to save time, minimize risk, and achieve effortless contract management.
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During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
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2. Thoughtstarter
Planning In Its Larger Context
Market Research
The Business Plan
Your Presentation
retailSOS.ca | Gerry Spitzner 2
3. To guide and inspire a strategic process for your
clinical service Business Plan and presentation.
◦ Help you with a strategic framework to create and document
your clinical service Business Plan.
◦ First, a high level approach to planning with proven concepts.
◦ Then take these ideas to share a simple 3 step presentation
strategy of your Business Plan at “The Pharmacy Moguls Den”
to communicate and implement a new clinical service that
produces strong financial results.
retailSOS.ca | Gerry Spitzner 3
4. Why does it matter?
Why should the business come to you rather than
someone else?
What are you known for? What are you a solution for?
◦ Doesn’t make sense to dream up ideas without speaking with
customers.
◦ A need alone does not necessarily mean there is a market.
◦ Differentiate, differentiate, differentiate
4retailSOS.ca | Gerry Spitzner
5. Ideas can come from many different sources...
◦ Complaints and feedback from customers.
◦ Requests for proposals (RFP’s) from large businesses,
government agencies (BC Bid), or LTC facilities.
◦ Modifications to current products; i.e. diabetic meters
◦ Suggestions from employees, doctors, inter-professional
healthcare, wholesalers and suppliers.
◦ Healthcare publications, magazines, media; i.e. Dr. Art Hister
◦ Competition
retailSOS.ca | Gerry Spitzner 5
6. Understanding the overall context
for planning can greatly help you to
design and carry out the planning
process in almost any planning
application.
retailSOS.ca | Gerry Spitzner 6
7. Simply put, planning is setting the direction for
something -- some system -- and then working to
ensure the system follows that direction.
Systems have inputs, processes, outputs and
outcomes.
◦ Inputs to the system include resources such as raw
materials, money, technologies and people.
◦ Inputs go through a process where they're aligned, moved
along and carefully coordinated, ultimately to achieve the
goals set for the system.
7retailSOS.ca | Gerry Spitzner
8. Outputs are tangible results produced by processes in
the system, such as products or services for
consumers (patients/customers).
Another kind of result is outcomes, for the business or
the benefits for consumers
◦ i.e. jobs for workers or enhanced quality of life for patients
and customers.
Systems can be the entire organization, or its
departments, groups, or processes. Your project.
retailSOS.ca | Gerry Spitzner 8
9. Work Backwards Through Any "System“; begin with
the end in mind.
◦ Whether the system is an
organization, department, business, project, etc., the process
of planning includes planners working backwards through the
system.
◦ They start from the results (outcomes and outputs) they prefer
and work backwards through the system to identify the
processes needed to produce the results.
◦ Then they identify what inputs (or resources) are needed to
carry out the processes.
9retailSOS.ca | Gerry Spitzner
10. Planning includes use of the following basic terms...
Goals
◦ Goals are specific accomplishments that must be accomplished
in total, or in some combination, in order to achieve some larger,
overall result preferred from the system, for example, the
mission of an organization. (goals are outputs from the system.)
Strategies or Activities
◦ These are the methods or processes required in total, or in some
combination, to achieve the goals. (strategies are processes in
the system.)
10retailSOS.ca | Gerry Spitzner
11. Objectives
◦ Objectives are specific accomplishments that must be
accomplished in total, or in some combination, to achieve the goals
in the plan. Objectives are usually "milestones" along the way when
implementing the strategies.
Tasks
◦ Particularly in small organizations, people are assigned various
tasks required to implement the plan. If the scope of the plan is very
small, tasks and activities are often essentially the same.
Resources (and Budgets)
◦ Resources include the people, materials, technologies, money, etc.,
required to implement the strategies or processes. The costs of
these resources are often depicted in the form of a budget.
(resources are inputs to the system)
retailSOS.ca | Gerry Spitzner 11
12. Reference Some Overall Singular Purpose Such As The
Mission or Desired Result from System
◦ During planning, planners have in mind some overall purpose
or result that the plan is to achieve. It's critical to reference
the mission, or overall purpose, of the organization.
Take Stock Outside and Inside the System
◦ This "taking stock" is always done to some extent. For
example, it's important to conduct an environmental scan.
This scan usually involves considering various driving forces,
or major influences, that might effect the organization.
12retailSOS.ca | Gerry Spitzner
13. Analyze the Situation
◦ For example, conduct a "SWOT analysis". (SWOT is an acronym
for considering the organization's strengths, weaknesses,
opportunities and threats faced by the organization.)
Establish Goals
◦ Based on the analysis and alignment to the overall mission of
the system, establish a set of goals that build on strengths to
take advantage of opportunities, while building up
weaknesses and warding off threats.
retailSOS.ca | Gerry Spitzner 13
14. Establish Strategies to Reach Goals
◦ The particular strategies (or methods to reach the goals)
chosen depend on matters of affordability, practicality and
efficiency.
Establish Objectives Along the Way to Achieving Goals
◦ Objectives are selected to be timely and indicative of
progress toward goals.
◦ They are “signposts” to ensure implementation results are
cycled back so that adjustments can be made to stay on track.
14retailSOS.ca | Gerry Spitzner
15. Assign Responsibilities and Time Lines With Each
Objective
◦ Responsibilities are assigned, including for implementation
of the plan, and for achievingvarious goals and objectives.
◦ Ideally, deadlines are set for meeting each responsibility.
Write and Communicate a Plan Document
◦ The above information is organized and written in a document
which is distributed around the system or company.
retailSOS.ca | Gerry Spitzner 15
16. You need more than a good idea to verify and fund your
proposed product or service.
◦ Just because it seems like a great idea doesn't mean that it
can become a product or service.
◦ A viable product/service needs to be profitable and
sustainable, including being “producible” and marketable.
◦ Also, the product/service should be related to the purpose, or
mission, of the business.
◦ Businesses can go bankrupt by trying to be too many things to
too many customers, rather than doing a few things very well.
16retailSOS.ca | Gerry Spitzner
17. At this point, you will benefit from understanding the
basics of marketing, particularly how to conduct
market research and a competitive analysis.
If your idea still seems like a good one, then it's
important to know how you will position and identify
your new product/service to the market.
You'll certainly want to know how much you might
charge for it , its price to the customer/consumer).
17retailSOS.ca | Gerry Spitzner
18. It is extremely difficult to develop
and provide a high-quality product
or service without conducting at
least some basic market research.
retailSOS.ca | Gerry Spitzner 18
19. Market research has a variety of purposes and a
variety of data collection methods might be used for
each purpose.
The data collection method that you use during your
market research depends very much on the
information that you are seeking to understand.
Businesses can learn a great deal about
customers, their needs, how to meet those needs and
how the business is doing to meet those needs.
19retailSOS.ca | Gerry Spitzner
20. Market research usually involves doing a periodic
study of some sort.
Market research generally probes a few topics;
however by itself doesn’t yield a deep understanding
of the customer.
The periodic nature merely offers a snapshot of
customers at a moment in time.
Adopt a customer learning approach to find out who
your customers are and what they want.
retailSOS.ca | Gerry Spitzner 20
21. As opposed to periodic studies, customer learning is a
continuous process of probing customers.
◦ It’s a process that fundamentally incorporates the fact that
every customer is truly unique and that their needs, wants and
expectations are never static.
◦ They change with the life forces affecting the individual or the
business and the environment in which they exist.
Who is your ideal audience, where do they do
business, and why?
Work your clinical service backwards from them.
retailSOS.ca | Gerry Spitzner 21
22. Identify opportunities to serve various groups of
patients/customers (your ideal customers).
◦ Verify and understand the unmet needs of a certain group (or
market) of customers. What do they say that they want? What
do they say that they need?
Examine the size of the market – how many people
have the unmet need. (your ideal audience)
◦ Identify various subgroups, or market segments, in that
overall market along with each of their unique features and
preferences.
22retailSOS.ca | Gerry Spitzner
23. Determine the best methods to meet the unmet needs
of your ideal audience.
◦ How can you develop a product or service with the features
and benefits to meet that unmet need? How can you ensure
that you have the capacity to continue to meet the demand?
Investigate the competition.
◦ Examine their products, services, marketing
techniques, pricing, location, etc. One of the best ways to
understand your competitors is to use their services.
retailSOS.ca | Gerry Spitzner 23
24. Clarify your unique value proposition.
◦ Your proposition describes why customers should use your
organization and not the competition’s.
Conclude if the product is effectively meeting the needs of
your ideal customers.
◦ One of the best ways to make this conclusion is to conduct an
evaluation. An evaluation often includes the use of various data
collection methods, usually several of them.
◦ I.e. observing clients, interviewing them, administrating
questionnaires with them, developing some case studies, and,
ideally, conducting a product field test, or pilot.
24retailSOS.ca | Gerry Spitzner
25. Who are your competitors?
◦ What customer needs and preferences are you competing to
meet?
◦ What are the similarities and differences between their
products/services and yours?
◦ What are the strengths and weaknesses of each of their
products and services?
◦ How do their prices compare to yours?
◦ How are they doing overall?
25retailSOS.ca | Gerry Spitzner
26. How do you plan to compete?
◦ Offer better quality services? (value)
◦ Lower prices?
◦ More support?
◦ Easier access to services?
◦ How are you uniquely suited to compete with them?
Gather competitive intelligence from as many sources
as possible. Then do a SWOT analysis.
26retailSOS.ca | Gerry Spitzner
27. Initial considerations to address
about your idea for a new product or
service and preparation to
document the business plan.
retailSOS.ca | Gerry Spitzner 27
28. If you'll need funding to start your new clinical service,
investors or funders are much more likely to provide
money if they see that you've done some planning.
◦ How much money will you need?
◦ What will the return on investment (ROI) be?
◦ How long will it take to break even and make money?
◦ What are the barriers to entry? Us & our competition?
◦ What are your assumptions?
◦ Be clear about what you are selling.
retailSOS.ca | Gerry Spitzner 28
29. You’ll need to answer these questions...
◦ Is there a need for the service and is there a market?
◦ What type of new product or service will you be starting?
◦ What Are Your Initial Plans?
◦ What Planning and Financial Skills Do You Need?
◦ What Human Resources Will You Need?
◦ What Facilities and Equipment Will You Need?
◦ How Much Money Will You Need?
29retailSOS.ca | Gerry Spitzner
30. What is the nature of your new product or service?
◦ Whether you're starting a new product or service, there needs
to be a strong market for it.
How do you know there is a need?
◦ You'll have to have enough evidence to convince an investor
or funder -- and yourself.
Who are your competitors?
◦ What makes your new product/service any different or more
needed by customers? Conduct a competitive analysis.
30retailSOS.ca | Gerry Spitzner
31. What is the basic purpose of your product or service?
◦ This is your mission statement, or your value proposition.
◦ Basically, the mission statement describes the overall
purpose of the product or service.
◦ When wording the mission statement/value proposition,
consider the product or services’; markets, values, concern
for public image, and priorities of activities for survival.
◦ Use the value proposition worksheet provided in pre-reads.
31retailSOS.ca | Gerry Spitzner
32. What are the major goals for your product or service
over the next 24 to 36 months?
What do you need to do to reach those goals?
What objectives do you need to reach along the way to
each goal?
How will you know that the organization is efficiently
pursuing its goals?
◦ Knowledge of these goals will help you a great deal when
thinkingabout what resources/skills you will need right away.
32retailSOS.ca | Gerry Spitzner
33. How will you manage your finances?
How will you monitor and record your income and
expenses?
◦ What system will you use for bookkeeping and accounting?
◦ What system will you use to document patient counselling?
◦ How will you adjudicate with Pharmacare?
◦ How will you bill the patient? (if it’s not a covered benefit)
33retailSOS.ca | Gerry Spitzner
34. What skills (and people) are needed by your
organization to deliver the product or service?
How will you attract and retain the best people?
How will you organize your staff?
◦ Workforce planning, Specifying Jobs and Roles and Selecting
Your Organizational Design (who will work for whom, etc.)
34retailSOS.ca | Gerry Spitzner
35. What equipment needs will you have?
◦ These needs depend very much on the resources needed to
develop, distribute and support your product/service.
◦ Facilities Management includes, cleaning, floor washing,
ventilation(HVAC), lighting, receiving dock, delivery van etc.
What computer equipment will you need?
◦ Hardware, Laptops, iPad’s, mobile phones, printers, Wi-Fi etc.
35retailSOS.ca | Gerry Spitzner
36. What is the Cost of Needed Resources?
◦ Consider the costs to obtain the necessary skills, facilities
and equipment identified from addressing the questions from
all the previous.
What are your start up costs?
◦ How much money will you need to get started before
generatingany revenue?
◦ Consider wages, licenses & fees, advertising, marketing &
promotion, leasehold improvements etc.
36retailSOS.ca | Gerry Spitzner
37. 1. Business summary
◦ Describes the organization, business venture or product
(service), summarizing its
purpose, management, operations, marketing and finances.
2. Market opportunity
◦ Concisely describes what unmet need it will (or does)
fill, presents evidence that this need is genuine, and that the
patients or customers will pay for the costs to meet this need.
◦ Describes credible market research on target customers
(including perceived benefits and willingness to
pay), competitors and pricing.
37retailSOS.ca | Gerry Spitzner
38. 3. People
◦ Arguably the most important part of the plan, it describes who
will be responsible for developing, marketing and operating
this venture, and why their backgrounds and skills make them
the right people to make this successful.
◦ This section is also where you should include your advisors
(board of advisors) and other healthcare professionals such
as doctors, NP’s, nurses, LTC administrators etc.
◦ Also consider others you may need to make the plan a
success; suppliers, corporate sponsor, associations, advisors
retailSOS.ca | Gerry Spitzner 38
39. 4. Implementation
◦ This is the how-to of the plan, where the action steps are
clearly described, usually in four areas: start-up, marketing,
operations and financial.
◦ Marketing builds on market research presented, include your
competitive niche. How will you be better than your
competitors in ways that matter to your ideal customers ?
◦ Financial plan includes, costs to launch, operate, market and
finance, along with conservative estimates of revenue,
typically for 2 to 3 years; a break-even analysis is often
included.
39retailSOS.ca | Gerry Spitzner
40. 5. Contingencies
◦ Outline the most likely things that could go wrong with
implementing this plan, and how management is prepared to
respond to those problems if they emerge.
◦ What will your recovery plan be when (not if) something goes
wrong.
◦ It’s not so much about trying to identify and avoid the things
that can take you off track or go wrong; it’s usually more about
how you will recover.
retailSOS.ca | Gerry Spitzner 40
41. You have 5 minutes to communicate
your product/service strategy that must
result in action; so, keep it simple and
get to the core issues quickly.
retailSOS.ca | Gerry Spitzner 41
42. Prepare and answer just three questions and you have
your presentation strategy...
HOW BIG do we want to be?
◦ Money, sales/cash flow
WHO do we want to SERVE?
◦ Ideal audience and Customer awareness
HOW will we COMPETE and WIN?
◦ Competitive advantage and Customer experience.
retailSOS.ca | Gerry Spitzner 42
43. HOW BIG do we want to be?
◦ Means the Financial plan for your Business Plan and product
or service idea.
◦ What are the financial goals to satisfy the owners of the
business?
Financial goals determine the character of your strategy.
Morph from a strategy-drives-financials paradigm to a
financials-drive-strategy one.
Don’t try to squeeze better numbers out of a given strategy.
retailSOS.ca | Gerry Spitzner 43
44. WHO do we want to SERVE?
◦ Means the Marketing Plan of your Business Plan.
◦ Who are the ideal customers to whom you intend allocating
scarce resources because you believe they represent the
best economic opportunity?
◦ There is no such thing as a bad customer; it’s just that some
are better than others.
◦ If a customer segment (audience) can’t deliver your financial
goals why would you bother with it?
◦ Consider the Lifetime Value (LTV) of a customer as a way of
making a choice of who to serve.
retailSOS.ca | Gerry Spitzner 44
45. HOW will we COMPETE and WIN?
◦ Means your daily Operations Plan and how you will “deliver
the promise” in all the other parts of the Business Plan.
◦ How do you intend to compete with other companies available
to your ideal customers and win?
◦ The most critical aspect; as it puts words to why someone
should do business with you instead of with your competition.
◦ Too many objectives paralyzes progress; define the critical
few and outline them.
◦ Find the three things that will achieve 80% of the strategy.
retailSOS.ca | Gerry Spitzner 45
46. Step by step approach to create HOW to WIN...
◦ Select the customer needs and expectations you intend to
satisfy from the segment you have chosen to serve.
◦ Examine the internal opportunities; look broadly at the
competencies your organization currently has to deliver.
◦ Evaluate exactly where the competition is focusing their
efforts; Which segments? Their value proposition? Market
success? Vulnerabilities? (use the SWOT results)
◦ Decide on what basis you intend to compete/win and create a
HOW to WIN position statement to say how you will do it.
retailSOS.ca | Gerry Spitzner 46
47. Here’s an example...
“Our basic competitive approach will be to develop intimate
one-to-one relationships with our diabetic patients
(customers) and be the only Pharmacy in our community that
delivers disease management, healthy living and nutrition
counselling offers to match each one’s unique needs and
preferences.”
retailSOS.ca | Gerry Spitzner 47
48. HOW BIG? WHO SERVE? HOW WIN? Once the answer to
each of these questions is clear the Strategic Game
Plan Statement needs to be created.
It’s developed from the answers to the 3 questions
above and looks something like this...
“We intend to (HOW BIG) by [desired time frame] by
focusing our scarce resources on (WHO to SERVE). We
will compete by (HOW to WIN).”
retailSOS.ca | Gerry Spitzner 48
49. We intend to grow Pharmacy revenue from the
rapidly increasing diabetic market segment from
500K to 750K by the end of 2013. We will focus our
resources on working with our local 1st Nations
Bands with a view to expand into other Lower
Mainland bands in the 1st Quarter of 2014.
retailSOS.ca | Gerry Spitzner 49
50. We will COMPETE and WIN by...
◦ Leveraging the intimate understanding we have of the
patient and their current situation with disease
management and medication adherence.
◦ Providing personalized holistic health & wellness based
solutions combined with nutritional solutions to improve
daily living and promote healthy outcomes.
◦ Matching our CDE Pharmacists specifically with each
patient, and delivering the services to our patients and
customers in their community.
retailSOS.ca | Gerry Spitzner 50
51. Overall, we help First Nations diabetic patients
improve their quality of life and manage their disease
by combing nutrition counselling with medication
review and adherence.
Specifically, we want to develop strategies to identify
at risk women in their child bearing years and educate
them about healthy lifestyles.
retailSOS.ca | Gerry Spitzner 51
52. Want a copy an electronic copy of this of this
presentation with bonus slides?
◦ Email me; gerry@retailSOS.ca
To your business and professional
success, thank you for your attention.
Questions?
retailSOS.ca 52Gerry Spitzner
54. retailSOS.ca is a Vancouver-based retail consultancy guiding and
supporting Pharmacy owners to create, engage and keep great
customers by doing the right thing extraordinarily well.
Gerry Spitzner works as a management consultant with community
Pharmacy owners to achieve results by aligning their vision and
implementing marketing strategy with operational execution.
Drawing on 35+ years experience in drug store multi-site retail
operations, Pharmacy ownership and the Pharmaceutical wholesale
supply-chain; Gerry brings the leadership, knowledge and market
awareness of ownership and business development to Pharmacy
owners to achieve growth objectives.
retailSOS.ca | Gerry Spitzner 54
Editor's Notes
How many of you have ever been involved in Strategic Planning?Most business owners I know struggle to find time to work on, develop, and refine the concepts at the heart of their business.If you aren’t clear on your concepts, or you don’t have words to bring them into the world, you risk sounding run-of-the-mill, when you really are not.You risk missing the connection with your perfect people because they can’t dig into, hold onto, and have faith in what you are sharing.In the beginning...the challenge is not so much what you’re going to do, or how you’re doing it, but why it matters.The most important question you must answer is; Is my product or service idea something people care about?Wouldn’t you rather grow your clinical service business idea the right way... from the ground up?Today, we are going to cover Strategic Business Planning in the context of your clinical service project.
I’ll give you the dots; you have to connect them.A tip for you...focus your short presentation time not so much on the importance of why Pharmacy practice needs to or should move to a patient care model; everyone in the Industry and those on the panel you present to gets that. Rather... I suggest you focus your presentation on the solution your clinical service provides to the community you intend to serve. And why it matters.Note; when I refer to product or service it is the same thing. In fact, some of you may want to bring a product to market as your clinical service idea.
3 step simple approach... One which you can clearly articulate to the Moguls panel and to others (like customers and especially staff); and keep your presentation focused on why, how and what . Recently I was speaking to a service provider at a networking event. I asked him, Why should someone do business with him? What was his point of difference? His answer struck such a deep cord with me that I wanted to share it with you.He replied, "When you take price out of the equation, what have you got? I make sure that I provide that extra to my customers. I make surethat my people and I do it right the first time, and we make sure we are best on at least one thing we do." He went on to say, "when a customer really wants something, price becomes secondary. It is then that your extra value comes into play. It builds customer confidence, customer trust and that creates customer loyalty. Its the only way to grow your business."We all need to ask ourselves, what have we got when price is removed from consideration?What extra value will your project team present for your clinical service?
By now you’ve probably given your clinical service idea some thought; this is your BIG idea. As we go through this afternoon consider these points...think about creating a unique value proposition (your why); and build it around your dominant strength.The key to business success has always been the same; find a need and fill it.Your business plan goal is to find outwhat people (customers) really need and WANT (what they desire), and then give it to them better and with more value than anyone else. A need alone does not = a market. Only when there is desire by customers to meet a need then there is a market.In retail Pharmacy it used to be location, location, location.And that’s still true but only up to the point that it’s a real estate solution. Today, for a retail Pharmacy biz to be successful in a sea of sameness. It’s differentiate, differentiate, differentiate. Think different, be different; Be better than anyone else on at least one element of value.
Before we jump into the typical phases in the standard "generic" planning process, let's stand back and minute and briefly look at the role of planning in its overall context. This is more than an academic exercise...Most business planners leap to the “doing” part of the plan and don’t spend enough time on the “designing” part. For example take architecture and this building; there are posts and beams holding the walls, floors and ceilings. We can’t see them but they are holding the building up. A lot of time was spent designing this space; before it even went to construction let alone us using this space for what it is intended for.Spend more time on the architecture and designing of your project than planning the doing part. Architecture allows a business to expand; and it provides the necessary environment for change to succeed. It is the key to sustaining the business model over time and getting stuff done without having to go back and rework the infrastructure. Which is costly in terms of time and resources.
One of the most common sets of activities in management is planning...Very simply put, planning is setting the direction for something -- some system -- and then working to ensure the system follows that direction. Systems have inputs, processes, outputs and outcomes. To explain, inputs to the system include resources such as raw materials, money, technologies and people. These inputs go through a process where they're aligned, moved along and carefully coordinated, ultimately to achieve the goals set for the system.
Outputs are tangible results produced by processes in the system, such as products or services for consumers. Another kind of result is outcomes, or the applied benefit of the benefit; it is the benefit for consumers, e.g., jobs for workers, enhanced quality of life for customers, savings to the healthcare system, etc. Systems can be the entire organization, or its departments, groups, processes, etc. It is your clinical service project.
Work backwards through any system...begin with the end in mind.Share The Everest expedition story.Start with your ideal customer audience or patient and work backwards from them to identify the outcomes and outputs, then create your clinical service to deliver it; the processes;then identify the inputs in your business case and business plan needed to carry out your clinical service.
NOTE: It's not critical to grasp completely accurate definitions of each of the following terms. But a basic understanding will help define key areas of your Business Plan.It's more important for planners to have a basic sense for the difference between goals & objectives (the results) and strategies & tasks (the methods to achieve the results).
A word of warning: There is an overwhelming temptation at this stage to come up with as many objectives as you can think of that are related to getting the strategic game plan implemented.Which tends to be more about volume of activity (the tasks) than effectiveness. And it chews up a lot of resources.Too many objectives paralyzes progress; define the critical few and do them.It’s critical that objectives be carefully evaluated and prioritized in terms of their relative impact on delivering the game plan.
Whether the system is an organization, department, business, project, etc., the basic planning process typically includes a similar nature of activities carried out in similar sequence. The phases are carried out carefully or -- in some cases -- intuitively, for example, when planning a very small, straightforward effort. The complexity of the various phases (and their duplication throughout the system) depend on the scope of the system. For example, in a large corporation, the following phases would be carried out in the corporate offices, in each division, in each department, in each group, etc.NOTE: Different groups of planners might have different names for the following activities and groups them differently. However, the nature of the activities and their general sequence remains the same.NOTE: The following are typical phases in planning. They do not comprise the complete, ideal planning process.
Other assessment or methods could include...using reports (i.e. State of the Industry, Trends & Insights) or ask customers; conduct a focus group. What are the barriers to entry? For you? For your competition? Barriers to entry can be a strength or a weakness; an opportunity and a threat.
To successfully execute your strategy you need detailed objectives and action plans, with people held accountable to complete them.What are the key things that need to be done to deliver the strategic game plan?When do they need to be done?Who will be held accountable for getting them done?If people are not accountable; nothing happens
Re: Trying to do too many things...find the three things that will achieve 80% of the strategy and do them.Pick the top 3 things that matter most and do an exceptional job on them.If you are not focused, you are wasting precious time and money.Strategic planning is all about determining your future direction and allocating your scarce resources to the few steps that will get you there.
To verify your service idea; you need to make the end consumer aware of it and make sure someone is willing to pay for the extra value it brings.This is where Market Research, Analysis and Feasibility come into play.
Odds are that you have already conducted at least some basic forms of market research for your project.For example, you have listened (a research technique) to others complain about not having enough of something -- that alone should suggest providing what they need in the form of a product or service. Generally though...market research looks at the customer from a narrow perspective; products and services. You have a limited amount of time to do market research.Therefore, make customer learning the cornerstone of your market research process for this project.Not saying you shouldn’t spend time on quantitative research; simply recommending a focus on qualitative research. Speaking with the people who will use your service. What can you learn from them?
Generally though...market research looks at the customer from a narrow perspective; products and services. Make customer learning the cornerstone of your market research process for this project.
Customer learning takes a holistic view of the customer; avoids the narrow silo questions and asks broader ones.It simplifies the process and will get you the information you need in the shortest period of time.Design a list of questions that will get you the information you require. Make them open-ended; so you can generate conversation to ask more questions.For example; What are the customers total needs? What are their personal lifestyle characteristics viewed from within their family context?Find out and consider; what are the applied benefits of the benefit for your ideal customers? Why would they use your clinical service and how? What benefit would bring them back and tell others?
Target customer vs ideal audience. Target customer has no soul...and sounds like a game at the PNE. And is a message that adds to the clutter; often in a big market and a sea of sameness.It’s usually a push and pray message; sent out blindly to a large group in the hope that it sticks with some.The “mass market” concept died years ago; in today’s world people believe they are unique and they like to be treated that way. Focus your efforts on determining your ideal audience. And develop a pull and stay marketing approach.Ideal audience is the group of people you market your message to and has a greater chance of being meaningful to them so that they remember you when they need you.The ideal audience gives your idea a greater chance of success because customer learning studies small groups of customers to reach a deep understanding of each person in the group.There are two practical ways to implement customer learning; ask the customer and understand customer behaviour. Go to where they go and observe them and ask them. Ie; “You can observe a lot by watching” – Yogi Berra, baseball great famous for mixed up quotes.Then work backwards back from them.
Some useful data collection methods might be, for example, conducting focus groups, interviewing customers and investors, readingthe newspaper and other key library publications, and listening to what clients say and observing what they do. Later on, you might evendevelop a preliminary version of your product or service that you pilot, or test market, to verify if the product/service would sell or not.Your ideal audience; This where you put potential customers into segments and define large numbers of unique clusters in the segment.Useful data collection methods might be, for example, reading about demographic and societal trends in publications at the library. You might even observe each group for a while to notice what they do, where they go and what they discuss. Consider interviewing some members of each group. Finally, consider conducting a focus group or two among each group.
Here’s where focus groups can really come in handy. Conduct some focus groups, including asking them about their preferences, unmet needs and how those needs might be met. Run your ideas past them. At the same time, ask them what they would need to use your services and what they would pay for them. A particularly useful data collection method in this area is the use of focus groups. Get some groups of potential clients together and tell them about your ideas. Tell them how your ideas are unique. Tell them how you would want your program to be seen (its positioning). Ask them what they think. Go to the competitions location, look around and look at some of their literature. Notice their ads in newsletters and the newspaper. Look at their web sites. Use their services. Ask their customers.Clear it with the owner first.
Use the value proposition worksheet I sent in the pre-reads.One of the best ways to make this conclusion is to conduct an evaluation. An evaluation often includes the use of various data collection methods, usually several of them, for example, observing clients, interviewing them, administrating questionnaires with them, developing some case studies, and, ideally, conducting a product field test, or pilot. Ie; “You can observe a lot by watching” – Yogi Berra, baseball great famous for mixed up quotes.For example...What is the patients awareness of the professional services offered beyond dispensing? How will they find out about the great things Pharmacists do?
Every business has competition and prospective business owners ignore competitors at their peril. Unless a business has an absolute monopoly on a life-essential product, there will be competitors offering alternative and substitute products/services. That level of competition is revealed in the competitor analysis section of your business plan.A competitor analysis is an important requirement in any business plan because it (a) reveals the firm's competitive position in the marketplace and "marketspace" (on-line marketplace), (b) assists you to develop strategies to be competitive, and (c) investors and other readers of the business plan will expect it. If you ignore or minimize the impact competition will have on your business prospects, then you have an unrealistic business plan.
After giving some background about the type of competitors your business or product/service will face -- you identify and analyze your major competitors -- those most likely to impact on the success of your business.The analysis uses a variation of SWOT, a popular strategic planning tool, to help you identify strengths and weaknesses of competitors, and then opportunities and threats for your business.Then come up with at least one value where your clinical service will be excel; this will become a key part of your unique value proposition.The answers to these questions comes from market research and feeds into the competitive advantage section of your business plan.
A business plan is your blue print and road map to implement your idea. Having clear, written goals sets the path and the process of the strategic game plan.Describe the inputs and outputs required to achieve the desired outcome.
Overall, you’ll need to answer these underlying questions in your presentation and business case.Because, somewhere along the way you’ll need funding or a budget from an investor or Pharmacy Manager or Pharmacy owner. Without that your start up idea is a pipe dream. And probably, you won’t even get started. ROI...Cash Flow, Cash Flow, Cash Flow What’s the Break Even Point...At what point does it become cash flow positive? 1 month, 12 months?What are the barriers to entry? For you? For your competition? Barriers to entry can be a strength or a weakness; an opportunity or a threat.Clearly identify all the assumptions in your business plan. Assumptions are the details about your start-up costs, such as how much you’ll invest in marketing, or how much inventory you need to have on hand. Some may be estimates, but you need to demonstrate that you’ve thought about all the little details. Your marketing plan needs to show the lender that you’re clear about what you’re selling, who’s going to buy it and why and how you’re going to reach those buyers. Explain what you’re selling in plain English. This may seem obvious, but a lot of plans leave lenders guessing what the product or service being sold is, or why anyone would buy it.
A word of warning: There is an overwhelming temptation at this stage to come up with as many objectives as you can think of that are related to getting the strategic game plan implemented.Which tends to be more about volume of activity (the tasks) than effectiveness. And it chews up a lot of resources.Too many objectives paralyzes progress; define the critical few and do them.It’s critical that objectives be carefully evaluated and prioritized in terms of their relative impact on delivering the game plan.How will you manage your finances? How will you monitor and record your income and expenses? What system will you use for bookkeeping and accounting? What system will you use to document patient counselling? How will you adjudicate with Pharmacare? How will you bill the patient? (if it’s not a covered benefit)What skills (and people) are needed by your organization to deliver the product or service? How will you attract and retain the best people? How will you organize your staff?What equipment needs will you have? Ie compounding?? What computer equipment will you need?What is the Cost of Needed Resources? What are your start up costs?Now...Let’s break down these questions...might seem obvious, but they are the first questions that will be on the minds of the people you present to.
Is there really a need for the product or service?1. Whether you're starting a new product, service or organization, there needs to be a strong market for it Is it retail; (patient counselling on Rx’s)? Manufacturing (compounding)? Production (central fill)? Service (home visits, lab results, immunization)? Wholesaling (creating your own product,ie George’s Cream)?2. You'll have to do more than "sense that there is a need" or claim that "it's common sense that there is a need". You'll have to have enough evidence to convince an investor or funder -- and yourself. Your investor or funder could be your Pharmacy Manager or the owner of the business.3. Conduct a competitive analysis. What is a competitive analysis?Go visit them; ask to use the service. What was the experience like? Ask their customers; if there was one thing that could be improved on; what would that be? Don’t ask where it fell short.
To paraphrase an old saying, "Value is in the ear of the beholder." (Value is the bundle of perceived benefits offered at a given price)All too often, professionals communicate their value to a prospective customer with lots of great attributes and data points about their company and its services in an attempt at differentiation. They focus on the how and what.The problem is that all of these comments are from the service provider's perspective. At no time has anyone mentioned what problem the prospective customer is trying to solve or what goals they are trying to reach. This is the why. The applied benefit of the benefit.Let's define value proposition. A value proposition is a compelling, tangible statement of how a company or individual will benefit from using or engaging your services. No more, no less.If value is in the ear of the beholder, then listen to your own words from the prospect's perspective and realize it's all about what they are buying, not what you are selling.
You need to think about some strategic decisions. While you may not have to know the detail to answers about the near future of your new product or service, you should have some impression about the overall goals to accomplish. Ask yourself and think about your answers to these questions so far when identifying your clinical service plans.
How will you compensate employees? What benefits will you offer? (ie incentive plan based on pay for performance)What basic personnel policies do you need?How will you know how to manage your organization?How will you ensure personnel are effectively working toward the organization's goals?Human Resources isn’t just the internal staff. Who are your advisors? Do you have a banker? Financial adviser? Tax advisor? Lawyer?
Most business plans address the following five topic areas for the overall content in one form or another.Business plans appear in many different formats, depending on the audience for the plan and complexity of the business. Use the template provided (and the pre-read I provided) to organize and summarize these key points.
Re: Advisors...Highlight that “people” isn’t just the internal staff.
With such an elaborate process it’s easy to lose sight of the end game.Indeed, I have participated in some of these strategy building sessions where the criteria for success seemed to be how complicated you could make the content and process. And I’ve always had difficulty with this approach; but I have seen and used a different approach that works much more effectively; especially for presentation.It’s based on the notion of “dumbing it down”; that simple is good, simpler is better.
Recall that overall there are three broad areas to every Business and to every Business Plan;Finance, Marketing, and Operations And they line up with these three simple questions.Or another way to put it is Money/cash flow, Ideal audience and Customer Awareness, and Competitive advantage & Customer experience.
HOW BIG is a question about your financial growth aspirations.The answer should drive strategy development but very often it is the last thing considered. Very often, the marketing or operations strategy is created first and then the financial results are determined.Then what happens is it doesn’t fit and the overall strategy is not good enough because the financial results are unacceptable.This becomes an exercise in circular logic and takes much longer to than it should.The character of your strategy depends on how bold your financial goals are. A strategy with aggressive annual targets will require higher risk and choices that will be completely different than a strategy built to achieve modest financial goals.Don’t try to squeeze better numbers out of a given strategy. Change the overall strategy to achieve a higher level of financial performance.
Not all customers are created equal. Some have a higher profit potential than others.So, it is extremely important that you carefully choose the customers you want to attract. This question is all about choice. You can’t be all things to all people. Rarely does an organization have infinite resources to address and serve every group of customers. The Lifetime value of a customer is the most meaningful way to look at the financial benefits a customer brings to the organization.There's a reason grocery chains and big box retailers such as Target and Walmart want a piece of the $27 billion prescription business. Industry figures show that the average patient spends $73 at the store beyond the price of their medications when they pick them up.Consider the Lifetime value of a customer. It separates the good customers from the great ones. LTV=present value + strategic value. Present value is based what they currently spend with you. Strategic value is based on their potential spend with you over some future period. Think about it another way: Strategic value = Current spending + Future spending. The choice you make about WHO to SERVE must be consistent with your financial goals. The financial targets must drive every aspect of strategy.Targeting a customer who has a sales growth potential of 5% makes little sense if the financial objective is to grow top line sales revenues by 15%.
This is without a doubt the most important part of the strategy. This where you create your service strategy.Examine the internal opportunities; look in every nook and cranny for what you do well and where you need to improve to deliver the promise of your product/service.Evaluate exactly where the competition is focusing their efforts; Which customer segments? Their value proposition? Market success? Vulnerabilities? SWOT them and yourself.Decide on what basis you intend to compete & win and create a unique value proposition. I.e. what unique value proposition do you promise your chosen customers?From here Create a How to Compete and Win position statement...the value proposition.
I.e. what unique value benefits do you promise your chosen customers?
This your internal statement, and it addresses your initial plans. The what.After creating the how to compete and win positioning statement ...create a strategic game plan statement.
Your strategic game plan statement not only provides succinct strategic direction for your organization, it also provides an excellent communications vehicle for the rest of the organization.To successfully execute your strategy you need detailed objectives and action plans, with people held accountable to complete them.Don’t create too many objectives as you develop your game plan. Don’t overwhelm; complexity freezes people.Refine objectives to a critical few that will have maximum impact on your strategy implementation.
This is also an internal document....and it addresses the how.The game plan statement without a navigational chart to execute it; is a pipe dream.
Imagine the action with such a game plan statement.Is it clear? Do you think employees would get it? Do you think the moguls panel will get it? Does it direct the resources of the Pharmacy? Does it drive a stake in the competitive ground?This is how to capture the hearts and minds of the people you need to carry out your game plan and make you and your clinical service idea successful.Present something like this for your 5 minutes at the Moguls Den; along with your How to Win positioning statement and value proposition and you’ll have a compelling presentation.
Here’s an example of what the value proposition might be; crafted from the positioning statement and strategic game plan statement.It answers the why question...with an applied benefit of the benefit and fulfills an intention of the Canadian Diabetes Association.Why, how and what.
Woo Hoo; we’re done!To your business and professional success, thank you.