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Components
Document is tentative and for discussion purposes only
Concept of Strategy
Key areas of the strategy framework
Mission
Why we exist
Values
Whats important to us
Vision
What we want to be
Strategy
Our game plan
M1 M2
T1 T1
M3
T1
Targets
Mission
Why we exist?
Vision
Goals
The top the strategy pyramid is soft and directional. It serves as a guideline for all strategic planning Samples of some retail and non retail companies
Vision / Values
Raise living standards in terms of quality of life, environmental protection, hygiene and food safety while respecting local culture Anticipate and promptly respond to the needs of our customers as well as conducting the longer work of building new stores and streamlining our logistics and step ahead of the curve Creating lasting relationships with ; 1) Customers 2. Attaining best in class productivity and efficiency 3. Building our brands 4. Reinventing the company continuously through technology and innovation 5. Reinforcing values
Reducing carbon in the life cycle of our products will often mean reducing energy use and costs
Integrity: Be real
Accountability: If it is to be, its up to me Collaboration: Leverage collective genius Innovation: Seek, imagine, create, delight
1 animation
Long-term objectives
Grand strategy
Annual objectives
Note:
What is Strategy?
(Porter, M.E. (1996), What is Strategy, Harvard Business Review, 74(12): 61-78.
Rivals can easily copy your improvement in quality and efficiency. But they shouldnt be able to copy your strategic positioning (What distinguishes your company from all the rest)
Strategy is the creation of a unique and valuable position, involving a different set of activities.
Strategy require you to make trade-offs in competing--to chose what not to do. Strategy involves creating fit among a companys activities.
Concept of Strategy
Differences between Operational Excellence and Strategy
high
Operational effectiveness means performing similar activities better than rivals perform them
Strategic positioning means performing different activities from rivals or performing similar activities in different ways
Growth
Business growth
Time
Impact
Profitability
Profits
Time Horizon
Time
Concept of Strategy
Sources of Superior Profitability
INDUSTRY
ATTRACTIVENESS
CORPORATE STRATEGY
COMPETITIVE ADVANTAGE
BUSINESS STRATEGY
Concept of Strategy
The Three Big Strategic Analysis Questions
Make
Current position Gap analysis will reveal the difference between position.
End of discussion