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Strategic Plan - Quarterly Priorities Workshop

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In this workshop Stephen Lynch guides you through a curated selection of some of the key elements of the RESULTS.com strategic planning process to help you identify the current issues facing your business, and then align and focus your team on the key strategic moves you need to make to set your company up for success.

Plus you’ll see examples of how you can use the RESULTS.com management software platform to fully engage your people in the execution of your chosen Strategic Projects & Tasks, and how to drive increased accountability for performance.

Publié dans : Business
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Strategic Plan - Quarterly Priorities Workshop

  1. 1. Presenter: Stephen Lynch Twitter: @StephenLynch @RESULTSdotcom Email: Stephen.Lynch@Results.com Presentation Available: www.RESULTS.com/slides Quarterly Strategic Plan Review
  2. 2. RESULTS.com - One Page Strategic Plan
  3. 3. Strategy Centre Thought Leadership Library
  4. 4. Core Values BHAG Core Purpose Geographic Focus Target Market Customer Generic Strategy / Value Discipline Core vs. Non-Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves Numerical Targets SWOT Analysis Current Strategic Projects Key Performance Indicators RESULTS.com - One Page Strategic Plan
  5. 5. 1. Reflection and lessons 2. Strategically analyze your industry 3. Confront your current reality like a VC 4. Create Strategic Projects and Tasks Agenda
  6. 6. Review Strategic Execution
  7. 7. What notable achievements did you / your team accomplish? List your answers below:
  8. 8. What did you START doing that has been of value? List your answers below:
  9. 9. What did you STOP doing ? List your answers below:
  10. 10. In the past, we used Spreadsheets / MS Excel
  11. 11. Now we use software
  12. 12. Everyone knows their own individual accountabilities
  13. 13. They can also see how the entire team is performing
  14. 14. Key Performance Indicators / Key Metrics
  15. 15. What’s happening here?
  16. 16. Someone in “The Red” What’s happening here? What 1 thing can we do this week to improve this? How can I help? What support do you need?
  17. 17. Capture Key Tasks
  18. 18. How effectively did you measure progress and keep it visible? List your answers below:
  19. 19. How well did you hold your people accountable for achieving KPI “Green” thresholds (or meeting Tasks done on time)? List your answers below:
  20. 20. What valuable lessons did you learn during the last planning cycle? List your answers below:
  21. 21. 1. Reflection and lessons 2. Strategically analyze your industry 3. Confront your current reality like a VC 4. Create Strategic Projects and Tasks Agenda
  22. 22. What is Strategy?
  23. 23. "If everything you do needs to work on a 3 year time horizon, you're competing against a lot of people. But if you're willing to invest on a 7 year time horizon, you're now competing against a fraction of those people, because very few companies are willing to do that. We can't realize our potential as people or as companies unless we plan for the long term."
  24. 24. “Companies need to operate with one eye focused on the short-term, and one eye focused on the long-term. Short-term is about projects related to improving the current core business, and meeting the needs of today’s target customers.” Philip Kotler
  25. 25. “Long-term is NOT about performance improvement. It is about forgetting the past and reshaping the business to compete more effectively in the future. Often, this demands bold, disruptive strategic moves away from the present to reshape the company for future success.” Philip Kotler
  26. 26. “Every leader needs to clearly explain the top 3 things the company is working on. If you can't, then you're not leading well” Jeffrey Immelt
  27. 27. What are the top 3 long-term strategic moves to position your firm for future industry success? (will be implemented within the next 3-5 years) 3-5 Year Strategic Move Person Accountable 1. 2. 3.
  28. 28. 18,446,744,073,709,551,615
  29. 29. “We’re in the second half of the chessboard”
  30. 30. “In short, software is eating the world.” Marc Andreessen
  31. 31. “This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has in the last 50” Bill Gates
  32. 32. “It is not the strongest who survive, nor the most intelligent, but the ones most responsive to change”
  33. 33. Industry Analysis
  34. 34. RESULTS.com - One Page Strategic Plan
  35. 35. “The questions remain the same. It’s the answers that keep changing” Albert Einstein
  36. 36. Don’t know the answer to a question? You need to know! What will you do to find out?
  37. 37. Rivalry between existing competitors
  38. 38. Who are your Key Competitors? (the “players”) What moves are they likely to make? ( Industry life cycle: introduction > growth > maturity > decline / Industry growth rate / Industry profitability / Number of competitors / Market share / Capital requirements / Globalization / Commoditization / Cost advantages / Economies of scale / Friendly vs. Aggressive competition) List your answers below:
  39. 39. New Entrants
  40. 40. Microsoft Office Google Apps
  41. 41. What New Entrants could disrupt you? ( Industry barriers / Capital requirements / Learning requirements / Access to supplies / Access to distribution / Performance vs. incumbents / Perceived differentiation in customers’ mind / Loyalty to incumbents / Switching costs / Retaliation by incumbents / “Innovator’s dilemma”) List your answers below:
  42. 42. Substitutes
  43. 43. What Substitute products / services could disrupt you? ( Technology changes / Industry structure changes / Availability of substitutes / Performance of substitutes / Perceived differentiation in customers’ mind / Switching costs / Customer desire to seek out alternative solutions to satisfy their need) List your answers below:
  44. 44. Suppliers
  45. 45. “Who” or “What” do you need to pay for to run your business?
  46. 46. Who are your Key Suppliers? What moves are they likely to make? ( Cost of supplies / Negotiating power of suppliers / Access to alternative sources of supply / Switching costs / Forward integration – supplier becomes competitor) List your answers below:
  47. 47. Customers
  48. 48. Who are your Key Customers? What moves are they likely to make? ( Customer demographic and psychographic description / Power to dictate prices or terms / Ability to influence other customers / Customer reviews / Perception of differentiation between vendors / Loyalty / Switching costs / Backward integration – customer becomes competitor) List your answers below:
  49. 49. Political Factors
  50. 50. What political factors / laws / regulations are likely to impact you? ( Industry specific regulations / political spectrum left vs. right / political stability / laws / taxes / trade policy / wars / environmental issues / health / safety / consumer laws / employment laws) List your answers below:
  51. 51. Economic Factors
  52. 52. What economic factors / changes in buying behaviors are likely to impact you? ( Economic growth / interest rates / exchange rates / inflation / availability of credit / investor interest in your industry / discretionary spending changes in customer purchasing habits / use of debt and leverage vs. more frugal spending / new forms of payment) List your answers below:
  53. 53. Social Factors
  54. 54. Baby Boomer 1946 -1964 Generation X 1965 - 1980 Millennial / Gen Y 1981 - 2000 Key life influences Cold War nuclear threat, NASA moon landing, Vietnam, Civil rights, Hippie culture AIDS, Divorce, MTV, Cold War ending, Personal computer, Microsoft Internet, Always connected, Share everything online, Facebook, Apple and Google Work environment Long hours, Office only Formerly Office, Increasingly working from home Office, Home, Wherever, Desires flexible work hours Work ethic Workaholic, Quality focus, Team player Clear direction, Get tasks done, Self reliant, Free agent Entrepreneurial, Variety, Multitasking, What’s next? Management style Hierarchy, Chain of command Everyone should manage themselves, Challenge people Collaboration, Consensus Personal Motivators Salary, Job title, Feeling valued and respected Money, Freedom, Break the rules and do it your own way Meaningful work,Maintain personal life, Training, Mentoring Mentoring Does not like feedback. Does not take negative feedback very well Does not think feedback is necessary. Will ask for it they want it Wants frequent management feedback, Feedback on demand at the push of a button Internal communication Face to face meetings focused on process, Memos Face to face meetings focused on results, Emails Face to face participative discussions, Emails, Collaboration software Client communication Face to face, Phone Face to face, Phone, Email Email, Social Media, Instant messaging Career Goals Climb the ladder at one company, Job security Build transferable career with variety of skills & experiences, Build a business. Build several parallel careers or businesses simultaneously
  55. 55. STANDARDIZED Industrial age work CUSTOMIZED Network age work LABOUR: obedience systems processes productivity TALENT: initiative innovation creativity passion Management 1.0 Management 2.0
  56. 56. “We are going to have to reinvent management; the way we lead, we plan, we organise, we hire, we motivate... because today, organisations are facing a set of challenges that are truly unprecedented." – Gary Hamel
  57. 57. What social factors / trends / attitudes / behaviors are likely to impact you? ( Demographic trends / career attitudes / health issues / environmental concerns / communication styles / social behaviors / online behaviors / media consumption / purchasing behaviors / cultural differences / generational differences / income equality / society’s evolving attitudes, values & beliefs) List your answers below:
  58. 58. Technology Factors
  59. 59. What technological factors / trends / are likely to impact you? (New technologies / Rate of technology adoption / Impact of internet and mobile / Social media / New devices & interfaces / Jobs replaced by technology / Business models disrupted by technology) List your answers below:
  60. 60. “Strategy is resource allocation. When you strip away all the noise, that’s what it comes down to. Strategy means making clear cut choices about how to compete. You cannot be everything to everybody. You have to figure out what to say NO to” Jeff Immelt
  61. 61. “Many managers do not understand the importance of having a clear strategy. Strategy is about making trade-offs. The essence of strategy is choosing what NOT to do.” Michael Porter
  62. 62. “The difference between successful people and very successful people is that very successful people say "no" to almost everything” Warren Buffett
  63. 63. What do you need to START doing? (Because it is strategically important for your long term success = “Core”) List your answers below:
  64. 64. “The difference between successful people and very successful people is that very successful people say "no" to almost everything” Warren Buffett
  65. 65. “The difference between successful people and very successful people is that very successful people say "no" to almost everything” Warren Buffett
  66. 66. What do you need to STOP doing? (Because it no longer serves you / not working out / purposeful abandonment = “Non Core”) List your answers below:
  67. 67. RESULTS.com - One Page Strategic Plan
  68. 68. What are the top 3 long-term strategic moves to position your firm for future industry success? (will be implemented within the next 3-5 years) 3-5 Year Strategic Move Person Accountable 1. 2. 3.
  69. 69. - Research your early adopter customers - Study what is happening “out on the edges” of your industry - Subscribe to bloggers who conduct industry analysis - Attend industry conferences - Learn from other industries - peer networks - Conduct thorough industry analysis at least every 12 months - Porter’s 5 Forces + PEST - Survey your staff to get their input - The questions remain the same. The answers keep changing - Review strategy every quarter - does it still make sense? 3 to 5 yr Strategic Moves - best practice
  70. 70. 1. Reflection and lessons 2. Strategically analyze your industry 3. Confront your current reality like a VC 4. Create Strategic Projects and Tasks Agenda
  71. 71. “Our people” is not a strength What is it about your people that makes your team strong? E.g. “Highly qualified software engineers” “Marketing” is not a weakness What is it about marketing that is weak currently? E.g. “Cost of Customer acquisition too high” “Communication” is not a weakness What is not being communicated? E.g. “Strategy not well understood” Be specific with your SWOT: Use 3-5 word phrases
  72. 72. Think like an investor. Would they agree with you?
  73. 73. What are the top strengths / assets / competencies within your business you can leverage (or build) in the next 12 months? Rank your Top 5 Strengths in order:
  74. 74. What are the biggest weaknesses within your current business that could be fixed or improved in the next 12 months? Rank your Top 5 Weaknesses in order:
  75. 75. What opportunities can you pursue over the next 12 months that will position your company for future success? Rank your Top 5 Opportunities in order:
  76. 76. What external threats do you need to reduce (or closely monitor) to ensure they do not derail your plans? Rank your Top 5 Threats in order:
  77. 77. RESULTS.com - One Page Strategic Plan
  78. 78. - Review and update SWOT every quarter - Use your 3 to 5 year Strategic Moves as the context for SWOT - Survey your staff to get their input - Act like an outside investor doing due diligence on your firm - No fluff. Tell the truth. Be specific - Use 3 to 5 word descriptive statements e.g. “Marketing” is not a weakness. What is it about marketing that is weak currently? e.g. “Customer acquisition cost too high” - Use SWOT as basis for choosing your key projects each quarter SWOT Analysis - best practice
  79. 79. 1. Reflection and lessons 2. Strategically analyze your industry 3. Confront your current reality like a VC 4. Create Strategic Projects and Tasks Agenda
  80. 80. Current Strategic Projects
  81. 81. “Every leader needs to clearly explain the top 3 things the company is working on. If you can't, then you're not leading well” Jeffrey Immelt
  82. 82. Specific Measurable Achievable Relevant Time Bound S A M R T “SMART” Projects
  83. 83. What are the top 3 Strategic Projects your company (or team) needs to execute in the coming period? - Each must address 1 or more issues described in your SWOT analysis (relevant) - Describe the tangible end-point milestones (so you know when to celebrate) - Balance short-term business improvement initiatives ( = improving “what is”) vs. building long-term strategic capability for the future ( = creating “what will be”) Current Strategic Project Due Date Person Accountable 1. 2. 3.
  84. 84. RESULTS.com - One Page Strategic Plan
  85. 85. 90% of those who join health and fitness clubs will stop going within the first 90 days. International Health Club Association
  86. 86. Strategic Project #1 Due Date Person Accountable Associated Individual Tasks
  87. 87. Strategic Project #2 Due Date Person Accountable Associated Individual Tasks
  88. 88. Strategic Project #3 Due Date Person Accountable Associated Individual Tasks
  89. 89. Many people can be involved in executing each Strategic Project, but only 1 person can be named accountable for the overall outcome The project leader makes sure everything “gets done” (it does not necessarily mean they do it all themselves) You may be leader in some projects and a follower in others Single Point Accountability
  90. 90. Set yourself up to succeed. “Stuff happens”. Fires need fighting. Set realistic outcomes and due dates that take into account “stuff happens” - yet still achieve your milestones. Don’t underestimate the difficulties and challenges you will face. Your colleagues are counting on you. Only make promises that you know you will be able to keep. Balance Optimism with Realism
  91. 91. 90% of your time is spent on “Business as usual” activities You still need to create opportunities, make sales, deliver products and services, and collect money…. i.e. the things you do every day to pay the bills. Set aside 10% of your time ( ½ day) every week for strategic execution. Aim to complete 1 specific meaningful Task “the #1 thing” that will move each Strategic Project forward. Make time for Strategic Execution: The #1 Thing
  92. 92. What does being accountable overall for the execution of a Strategic Project mean? – You don’t necessarily do it yourself, but you make sure everything “gets done” – Colleagues with associated Tasks report to you as “project leader” – You update the status of the Project at end of every week to show: – % complete – Color (on track / needs help / off track) – There is always at least 1 Task assigned to the project (due within the next 1 to 2 weeks) to show everyone what the next step is and maintain momentum – You promptly address issues / delays, and keep the team informed – You source the necessary support to keep things on track – The Due Date shown in the project is kept accurate so that it stands as a commitment (promise) that others can count on
  93. 93. Using software to track projects
  94. 94. Strategic Projects
  95. 95. Presenter: Stephen Lynch Twitter: @StephenLynch @RESULTSdotcom Email: Stephen.Lynch@Results.com Presentation Available: www.RESULTS.com/slides Thank you for your time

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