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Strategic PlanningTHAT WORKS!,[object Object],Rob Waite,[object Object],(502) 262-5910,[object Object]
2 of 45,[object Object],“Why can’t we just work on what we are doing and just see where it goes?”,[object Object],“If you don’t know where you are going, you might not get there?” – Yogi Berra,[object Object],Resource sub-optimization,[object Object],Wasted energy,[object Object],Frustration,[object Object],WASTED MONEY!,[object Object]
3 of 45,[object Object],Let’s get into a strategic frame of mind…,[object Object],Creativity – commoditization is the enemy and creativity is the solution.,[object Object],Open mind – creativity rarely results from a logical process. Great ideas come from everywhere.,[object Object],Open mouth – Everyone must participate.,[object Object],Perspective – What is the sum of 2+2?,[object Object],Courage - to be vulnerable, to be wrong,[object Object],Respect the company’s history, but don’t let the past be a boat anchor that holds the company from moving to its future.,[object Object]
4 of 45,[object Object],The evolution of a business,[object Object],Maturity,[object Object],Expansion,[object Object],Rapid Growth,[object Object],Survival,[object Object],Start-up,[object Object],Time,[object Object]
5 of 45,[object Object],Evolution of a business – Company Objectives per Stage,[object Object],“One man band” strategy development,[object Object],Ad hoc strategy development,[object Object],Management team ,[object Object],strategy development,[object Object],Organizational wide ,[object Object],strategic development process,[object Object],Start-up,[object Object],Obtaining customers and cash,[object Object],Producing product,[object Object],Survival,[object Object],Expanding revenues,[object Object],Cost awareness,[object Object],Quality consciousness,[object Object],Rapid Growth,[object Object],Maintaining Perspective (Reality vs. Euphoria),[object Object],Coordinate resources,[object Object],Balancing today’s and tomorrow’s needs,[object Object],Start to develop a management team,[object Object],Expansion,[object Object],Financing growth,[object Object],Maintaining control, enthusiasm and commitment.,[object Object],Hire a professional management team,[object Object],Maturity,[object Object],Expense control,[object Object],Productivity,[object Object],Management of market niches,[object Object],Strategic organizational structure,[object Object],Succession planning,[object Object],Entrepreneur as Chairmen,[object Object]
6 of 45,[object Object],According to Fast Company, what are the two main reasons companies fail?,[object Object],Lack of a strategy,[object Object],In ability for the senior team to function as a team.,[object Object]
7 of 45,[object Object],The Strategic Planning Process,[object Object],Mission Statement,[object Object],Who are we?,[object Object],Vision,[object Object],Where are we going?,[object Object],StrategicHypothesis,[object Object],Testing and Revision ,[object Object],of the Hypothesis,[object Object],How are we going,[object Object],to get there?,[object Object],Implementing the Strategy,[object Object],Fine tuning/course correction,[object Object]
8 of 45,[object Object],The outcome of the session will yield the following:,[object Object],Strengths: ,[object Object],Weaknesses:,[object Object],Opportunities:,[object Object],Threats:,[object Object],SWOT Analysis,[object Object],Who are we,[object Object],Mission Statement,[object Object],Where we are going,[object Object],The 6 Marketing Imperatives Plan,[object Object],Green Plan,[object Object],Vision,[object Object],Statement,[object Object],Internal and External Communication Plan,[object Object],How we are going to get there,[object Object]
9 of 45,[object Object],What is a Mission Statement?,[object Object],The mission statement tells customers and employees WHO you are.,[object Object],The vision statement tells customers and employees WHERE you are going.,[object Object],The mission statement is a broad description of the ballpark you want to play in.,[object Object],A platform for building the vision statement,[object Object]
10 of 45,[object Object],SWOT Analysis,[object Object],Strengths – What are your internal strengths?,[object Object],Weaknesses – What are your internal weaknesses?,[object Object],Opportunities – What are your external opportunities?,[object Object],Threats – What are your external threats?,[object Object]
11 of 45,[object Object],Questions to think about in developing the SWOT Analysis.,[object Object],What gives us the most problems?,[object Object],What are the best things customers say about us?,[object Object],What are the worst things they say?,[object Object],What do our employees complain the most about?,[object Object],What keeps me awake at night?,[object Object],What is the “coolest” project we are working on? Why?,[object Object],What keeps me motivated at my company?,[object Object],What are those “if only we…” statements that have gone through your mind?,[object Object],Are we as profitable as I think we can be? Why or why not?,[object Object],If your job was to destroy your company and not bankrupt your company in the process, how would you do it?,[object Object],What indicators do I look at for future trends and opportunities?,[object Object],Why, based on all the competitive alternatives, should customers buy from us???,[object Object]
12 of 45,[object Object],Outcome of the SWOT exercise,[object Object],Strengths: ,[object Object],Weaknesses:,[object Object],Opportunities:,[object Object],Threats:,[object Object]
13 of 45,[object Object],Outcome of SWOT exercise,[object Object],Rate Strengths and Weaknesses importance to business success – ,[object Object],         Leverage/Improvement Plan,[object Object],High Probability,[object Object],Low Probability,[object Object],High Attractiveness,[object Object],2. Create an Opportunities Matrix,[object Object],Low Attractiveness,[object Object],Low Probability,[object Object],High Probability ,[object Object],High Seriousness,[object Object],3. Create a Threat Matrix,[object Object],Low Seriousness,[object Object],4. Rate our competitors,[object Object],..WOT Worksheetsompetitive analysis using SWOT1.xls,[object Object]
14 of 45,[object Object],The Vision Thing…,[object Object],Lack of a vision ensures a lack of focus and direction for the company.,[object Object],A vision must be concise, simple, specific, narrow and clearly articulated. It’s job is to tell everyone what they are to be doing and what they can expect.,[object Object],A vision is not a vision unless it says yes to some ideas and no to others, inspires people and is a reason to get out of bed in the morning and come to work.,[object Object]
15 of 45,[object Object],An example of a bad vision statement:,[object Object],An example of a bad vision:,[object Object],“Our vision is to realize a future where ingenuity and commitment can redefine what’s possible in the ABC industry. This is the opportunity for XYZ Company: Imagine it. We have the ability, the resources and the drive to achieve it.”,[object Object]
16 of 45,[object Object],An example of a good vision statement:,[object Object],“We will be the world leader in drywall and associated systems.,[object Object],A world leader is the company that:,[object Object],Has the low net delivered cost position.,[object Object],Is the benchmark for innovation.,[object Object],Offers the widest geographical coverage.,[object Object],An ‘associated system’ is anything that touches drywall AND will enable us to sell more drywall.”,[object Object]
17 of 45,[object Object],The 6 Marketing Imperatives,[object Object],Pick Markets that matter,[object Object],Select Segments (submarkets) to dominate,[object Object],Design Market Offer to create value for the customer and secure Differential Advantage,[object Object],Integrate to serve the customer,[object Object],Measure what matters (KPIs),[object Object],Answer the customers number one question: “Why, based on all of the competitive alternatives, should I buy from you and your company?”,[object Object],..he 6 Marketing Imperatives Plan.doc,[object Object]
18 of 45,[object Object],Time to work!The 6 Marketing Imperatives,[object Object]
19 of 45,[object Object],Communication Plan,[object Object],Internal Communication Plan,[object Object],Leadership presentations,[object Object],Newsletter,[object Object],Employee Feedback,[object Object],Wiki/Intranet,[object Object],External Communication Plan,[object Object],Leadership Travel and Phone Follow up,[object Object],Customer Newsletters,[object Object],Trade Shows/Associations,[object Object],Company web site,[object Object],Social Marketing,[object Object],Senior Management Communication Plan,[object Object],Monthly review of the 6 Marketing Imperatives and the Green Plan,[object Object],“What’s going on meeting”,[object Object],Twice yearly strategy review/planning,[object Object],Avoiding the 5 Dysfunctions of a Team!,[object Object]
20 of 45,[object Object],The outcome of the session should yield the following:,[object Object],Strengths: ,[object Object],Weaknesses:,[object Object],Opportunities:,[object Object],Threats:,[object Object],SWOT Analysis,[object Object],Mission Statement,[object Object],The 6 Marketing Imperatives Plan,[object Object],Green Plan,[object Object],Internal and External Communication Plan,[object Object],Vision,[object Object],Statement,[object Object]
21 of 45,[object Object],Implementing the Strategy,[object Object],25/50/25 Principal,[object Object],Align variable compensation to the strategy,[object Object],Stick with the game plan,[object Object],“Leaving the game plan is a sign of panic and panic is not in our game plan.” – Chuck Noll, 4 time Super Bowl head coach,[object Object],KPI Focus/Root Cause analysis…,[object Object],Avoid the 5 dysfunctions of a team!,[object Object]
22 of 45,[object Object],Fine tuning and course correction,[object Object],KPI monitoring and root cause analysis,[object Object],Aiming corrective measures at root causes is more effective than merely treating the symptoms of a problem. ,[object Object],To be effective, RCA must be performed systematically, and conclusions must be backed up by evidence. ,[object Object],There is usually more than one root cause for any given problem ,[object Object]
23 of 45,[object Object],The Five Whys,[object Object],My car will not start. (the problem) ,[object Object],Why? - The battery is dead. (first why) ,[object Object],Why? - The alternator is not functioning. (second why) ,[object Object],Why? - The alternator has broken beyond repair. (third why) ,[object Object],Why? - The alternator is well beyond its useful service life and has never been replaced. (fourth why) ,[object Object],Why? - I have not been maintaining my car according to the recommended service schedule. (fifth why, root cause) ,[object Object]
24 of 45,[object Object],Two questions to ask yourself,[object Object],Are we a team?,[object Object],Are we ready for the heavy lifting?,[object Object]
25 of 45,[object Object],The Five Dysfunctions of a Team*,[object Object],* Presented with permission from The Table Group Consulting Partners,[object Object]
26 of 45,[object Object],Two questions to ask yourself,[object Object],Are we a team?,[object Object],Are we ready for the heavy lifting?,[object Object]
27 of 45,[object Object],Dysfunction 1 – Absence of Trust,[object Object],Members of great teams trust one another on a fundamental, emotional level, and they are comfortable being vulnerable to each other about their weaknesses, mistakes, fears, and behaviors. ,[object Object],They get to a point where they can be completely open with one another, without filters. This is essential because…,[object Object]
28 of 45,[object Object],Dysfunction 2 – Fear of Conflict,[object Object],… teams that trust one another are not afraid to engage in passionate dialogue around issues and decisions that are key to the organization’s success.,[object Object],They do not hesitate to disagree with, challenge and question one another, all in the spirit of finding the best answers, discovering the truth and making great decisions.,[object Object],This is important because…,[object Object]
29 of 45,[object Object],Dysfunction 3 – Lack of Commitment,[object Object],… teams that engage in unfiltered conflict are able to achieve genuine buy-in around important decisions, even when various members of the team initially disagree. ,[object Object],That’s because they ensure that all opinions and ideas are put on the table and considered, giving confidence to team members that no stone has been left unturned.,[object Object],This is critical because…,[object Object]
30 of 45,[object Object],Dysfunction 4 – Avoidance of Accountability,[object Object],… teams that commit to decisions and standards of performance do not hesitate to hold one another accountable for adhering to those decisions and standards. ,[object Object],What is more, they don’t rely on the team leader as the primary source of accountability, they go directly to their peers.,[object Object],This matters because…,[object Object]
31 of 45,[object Object],Dysfunction 5 – Inattention to Results,[object Object],… teams that trust one another, engage in conflict, commit to decisions and hold one another accountable are very likely to set aside their individual needs and agendas and focus almost exclusively on what is best for the team.,[object Object],They do not give in to the temptation to place their departments, career aspirations, or ego-driven status ahead of the collective results that define team success!,[object Object]
32 of 45,[object Object],The Five Dysfunctions of a Team,[object Object],The role of leadership,[object Object],Focus on collective outcomes,[object Object],Confront difficult issues,[object Object],Force clarity & closure,[object Object],Demand debate,[object Object],Be vulnerable,[object Object]

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