Almost everything we do in today's public or private (business) world invokes heavy competitive pressure: attracting foreign investments, “customer” habits change, new competitors appear, factors outside your control could delay your project. But we cannot allow ourselves to be paralyzed; we need to think strategically, plan in ways which are execution-able, and make decision as to what actions to take to minimize disruptions to our plans. In the final analysis, company vision is only good when we converge respective units’ efforts and achievements toward the organizational goals.
- Understand and Develop the strategic direction;
- Handle the nature of strategy formulation and implementation
- Identify the Company strengths and weaknesses;
- Identify markets and competitions
- Formulate possible strategies
- Formulate a strategic plan for your organisation or department
- Draw up and implement an action plan
- Achieve objectives by linking KPIs, business goals and vision
- Set KPIs which have linkages to vision
- Inculcate a performance work culture
- Use management tools to achieve results by design
- Conduct both external (environmental, industry and competitors) and internal assessments and carry out SWOT analysis
- Choose appropriate strategies to achieve organisation’s objectives
- Implement the strategic plan and measure its performance against the plan
Combination of lecture, with practical/hands on approach such as role plays, case studies, presentation, commentary on other companies/industries, and/or video.
- Start from the beginning: the Compass – what do we do and why
- What is our “business”, and Why do we choose this “business”?
- What is our vision
- How do we ACHIEVE the vision?
- Preliminary alignment
- Information Seeking Stage
- SWOT Analysis: with workshop
- Market Analysis on environment
- Growth-Share Matrix – definition, case, commentary, and what can we do
- Competitive Environment: the 5 Forces – definition, case, commentary, and what can we do
- Risk Analysis
- Types of risks
- Incorporating PESTEL factors
- Is it possible to NOT have surprises?
- Action Stage: Putting it all together
- Strategy defined
- Example of Strategic Thinking & Planning: The Value Curve
- Culturalize and make it a habit
- Workshop on Strategies and Plans: WHAT do we need to do to achieve the vision?
- Performance measurement and Key Performance Indicators (KPIs)
- Tools to help KPIs:
- SMART goals
- Parkinson Principle
- Workshop on Departmental KPIs and Target setting: HOW do we measure AND manage what we need to do?
- Converting Vision to Reality
- Q&A, Evaluation