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Strategy development methodology

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Strategy development is complex process that not only formulates the road which a company would use to reach its intended strategic position and achieve specific goals in future, but also designs essential organisational mechanisms which will allow that road to reach its commercial destination.

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Strategy development methodology

  1. 1. I N F O G R A P H I C STRATEGY DEVELOPMENT METHODOLOGY Y O U R R O A D T O O U S T A N D I N G C O M P A N Y created by Alex Milovanovich www.poslovnastrategija.rsRevision: July 2020
  2. 2. DECIDE ON BUSINESS MISSION AND VALUES TO ADHERE define main business activity e.g. your offer, to whom and where created at www.poslovnastrategija.rsRevision: July 2020
  3. 3. PERCEIVE YOUR BUSINESS VISION vision must be inspirational, ambitious and clear in order to yield executable strategy created at www.poslovnastrategija.rsRevision: July 2020
  4. 4. TURN MISION AND VISION INTO PRACTICAL AND FEASIBLE STRATEGIC PLAN created at www.poslovnastrategija.rsRevision: July 2020
  5. 5. • Products / services • Consumers / users • Buyers (who is shopping?) created at www.poslovnastrategija.rs FORMULATE WHAT NEEDS TO BE DONE define in detail your products, services, target markets and customer segments to whom your products are intended Revision: July 2020
  6. 6. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition perform detailed analysis of the business environment from multiple perspectives such as market size, customer buying power, competition, political, regulatory and technological factors and their specific impact on your business Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE
  7. 7. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis after analysing the external environment also look at internal “affairs“ in order to identify Strengths, Weaknesses, Opportunities and Threats Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE
  8. 8. created at www.poslovnastrategija.rs you can rely on price, differentiation or focus, or a combination of those, in your approach to markets and message sent to consumers Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to market
  9. 9. • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to consumers • Corporate social responsibility created at www.poslovnastrategija.rs your profitable business activity mustn’t harm the society in general, local community and/or environment where this activity is located but rather contribute in a positive way whenever possible Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE
  10. 10. • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to consumers • Corporate social responsibility • Business model created at www.poslovnastrategija.rs define business mechanisms and required resources which will generate profit by offering your products / services to the market(s) of choice Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE
  11. 11. created at www.poslovnastrategija.rs business model will reveal potential partners and key suppliers; do you need formal partnership? Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to consumers • Corporate social responsibility • Business model • Strategic partners and suppliers
  12. 12. created at www.poslovnastrategija.rs set up optimal organisational structure which will most effectively serve the business model Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to consumers • Corporate social responsibility • Business model • Strategic partners and suppliers • Organisational structure
  13. 13. created at www.poslovnastrategija.rs select ambitious goals which can turn your vision into reality; they are specific, clearly defined and quantified (new) market position and/or internal capability of your company after a specified period Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to consumers • Corporate social responsibility • Business model • Strategic partners and suppliers • Organisational structure • Strategic goals
  14. 14. created at www.poslovnastrategija.rs • Products / services • Consumers / users • Buyers • Business environment • Markets • Competition • SWOT analysis • Generic strategy / message to consumers • Corporate social responsibility • Business model • Strategic partners and suppliers • Organisational structure • Strategic goals • Capital structure based on required resources to reach agreed goals within agreed time period calculate required capital; is it available internally or you must look for new partners, investors and/or loans? Revision: July 2020 FORMULATE WHAT NEEDS TO BE DONE
  15. 15. created at www.poslovnastrategija.rs DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS in order to successfuly execute even the best formulated strategy and turn it into commercial gain it is necessary to install organisational mechanisms which create permanent two-way link between strategic plans and well organised, effectively controlled strategic activities Revision: July 2020
  16. 16. • Processes and procedures created at www.poslovnastrategija.rs well implemented technological and business processes and procedures enable employees to move resources and information to a next level smoothly and without interruptions making their assignments and projects being completed efficiently Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS
  17. 17. • Processes and procedures • Managing teams and individuals created at www.poslovnastrategija.rs well implemented employee management process will result in a working environment where all teams become aware of own responsibility and goals what is a prerequisite of good business results Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS
  18. 18. • Processes and procedures • Managing teams and individuals • Corporate management created at www.poslovnastrategija.rs a move from strategy to its execution requires inspired leadership, good response to crisis and readiness to learn continuously Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS
  19. 19. created at www.poslovnastrategija.rs • Processes and procedures • Managing teams and individuals • Corporate management • Change management to relax everyone and overcome resistance to change greatly encourage open communication with employees from the very beginning Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS
  20. 20. created at www.poslovnastrategija.rs turn strategic goals into objectives as specific, measurable, clearly defined and time limited actions (changes) which aim to achieve specific new state of affairs (strategic goal) • Processes and procedures • Managing teams and individuals • Corporate management • Change management • Objectives Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS
  21. 21. created at www.poslovnastrategija.rs • Processes and procedures • Managing teams and individuals • Corporate management • Change management • Objectives • 360° KPI dashboard use Kaplan & Norton’s Balanced Scorecard for 360° monitoring and presenting of strategic goals, objectives and related KPI-s Financial Perspective GOALS MEASURES Internal Business Perspective GOALS MEASURES Customer Perspective GOALS MEASURES Innovation and Learning Perspective GOALS MEASURES Source: BS – Measures that Drive Performance, R S Kaplan & D P Norton, HBR Jan-Feb 1992 360 Degrees SCORECARD Links Performance Measures How do customers see us? How do we look to shareholders? What must we excel at? Can we continue to improve and create value? analysis idea solution implementation analysis idea solution implementation Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS
  22. 22. created at www.poslovnastrategija.rs information management must provide necessary support at all levels of the organisation for informed and on time decision making Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS • Processes and procedures • Managing teams and individuals • Corporate management • Change management • Objectives • 360° KPI dashboard • Information management
  23. 23. created at www.poslovnastrategija.rs in order for financial planning to make sense and have a chance for positive impact on business it is very important to complete it before the beginning of planned period Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS • Processes and procedures • Managing teams and individuals • Corporate management • Change management • Objectives • 360° KPI dashboard • Information management • Financial planning
  24. 24. created at www.poslovnastrategija.rs effective risk management not only reduces negative effects of various crises but also brings additional benefits such as savings Revision: July 2020 DEFINE EXECUTION MECHANISMS REQUIRED TO TURN THE PLAN INTO COMMERCIAL SUCCESS • Processes and procedures • Managing teams and individuals • Corporate management • Change management • Objectives • 360° KPI dashboard • Information management • Financial planning • Risk management
  25. 25. KEY STEPS FOR DEVELOPING STRATEGY STRATEGY EXECUTION MECHANISMS 15. Processes and procedures 16. Managing teams and individuals 17. Corporate management 18. Change management 19. Strategy execution objectives 20. 360° KPI dashboard 21. Managing information 22. Financial planning 23. Risk management created at www.poslovnastrategija.rs CORE STRATEGY FORMULATION 1. Products / services 2. Consumers / users 3. Buyers 4. Business environment 5. Markets 6. Competition 7. SWOT analysis 8. Generic strategy / message 9. Corporate social responsibility 10. Business model 11. Strategic partners / suppliers 12. Organisational structure 13. Strategic goals 14. Capital structure Revision: July 2020
  26. 26. Business Strategy in Balkans I N F O G R A P H I C STRATEGY DEVELOPMENT METHODOLOGY Y O U R R O A D T O O U T S T A N D I N G C O M P A N Y created by Alex Milovanovich @ Business Strategy in Balkans For contact visit: www.poslovnastrategija.rs Revision: July 2020

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