PMI NEW Chapter November 13, 2018 Program Strategic Planning
Strong, positive leadership culture Highly visible Solid Business contributor Planning - current of year, 3-year plan and 5-year plans community Assumption: we are here because we A Great recognize the Performing Organization importance of strategic planning! Sustainable: transition “Employee Centric” /positive engagement relationships; promotes succession planning; outstanding sound financials; customer service strong employee development/growth Environment of recognition
Our Agenda for tonight… • What is Strategy and Strategic Thinking? • Find Your “Why?” (discussion of importance) • Value Proposition (Core Values) • Mission/Vision (statements) • Strategic Planning Process A Dream written down with a date becomes a Goal. A Goal broken down into steps becomes a Plan. A Plan backed by action becomes REALITY .
Strategic Planning (www.en.Wikipedia.org) Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. Strategy has many definitions, but generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources).
Thinking Outside the Box Learn to Read the World - tomorrow's marketplace, not yesterday's reality. • Set aside 30 minutes per week to: – Flip thru magazine you would normally never read (related to a similar organization or discipline) – Watch Webinar for unrelated industry/professional area – Visit a business that you've never seen before – Google a topic that you've never googled before – Spend a few hours with a group of people who are from an age, culture industry different from yours
Thinking Outside the Box • Structured Innovation Sessions every quarter (New Ideas) – What can I/we do today that I/we could not do yesterday? (possibilities) – What do I observe in the world that... • Startles and surprises me? (relevant changes) • Delights and intrigues me? (help your customer) • Terrifies me? (threats) • Internal & External SWOT Analysis…
The Strategic Plan (Dave Barrett/ http://davidbarrett.ca/david/) The Action Plan for Your Business • The as-is state… » What are we? Where are we? » SWOT (see appendix for additional information on SWOT) • Where do we want to be? » Time Frame » Describe the state – customers, products, etc. • Gap Analysis » What do we need to get there? Team, Funding, Operations • The Plan » How do we get there?
HOW… WHAT… See Appendix for more details… https://managementhelp.org/blogs/business-planning/2014/05/01/business-plans-vs-strategic-plans//
PMI Chapter / PM Forum Based on Simon Sinek’s Why? To improve personal and corporate outcomes so that people are empowered to make ideas a reality. More information contained in Appendix
Take five minutes to document your Mission statement
Sample Mission Statement: XYZ is committed first and foremost to meeting the exact specifications of our customers. We believe customer satisfaction can only be obtained by relentless precision in what we do, and in turn we pass that perfection on to our clients.
Create Your Value Proposition • Think about your target audience • What do they care about? • What challenges do they face? • What values or benefits will your organization bring them? • Why should they choose you? • How will engaging with you leave them stronger?
Value Proposition • Starting point for a strong brand • Sum up in a few words – What value do you promise to bring to your customers – The reason why your audience should choose you (over the competition)
Structure of a Value Proposition • Headline (Grab attention, describe value) • 1-3 Top Benefits – One or two supporting sentences (what you offer, why it is unique, why customer should choose you)
Take five minutes to document your value proposition/vision statement
Sample VISION Statement: North American Industry Leader of Manufacturing Support
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Take five minutes to document your values/value statement
sample VALUE Statement: 1. Quality First 2. Proactive Can Do Attitude 3. Drive Satisfaction through family values 4. High Integrity in all transactions 5. Culture of Team 6. Solution-focused Recognition is related to performance, Appreciation is related to the Person Appreciation should be considered as a core value…
The Strategic Planning Process 1. Vision Statement 2. Organizational Values 3. Focus Areas for Strategy 4. Strategic Objectives/Organizational Goals 5. Share Your Plan
How do you identify strategic focus areas?
Focus Area Rules of Thumb: • Identify 3-6 that really matter here and now for your organization • Approximately 5 words each – Not to broad (i.e., be profitable) – No jargon (i.e., maximize) – No metrics
Simple Format for Business & Strategic Focus Areas CEO Tools - Processes to Optimize Autonomy 2019 2020 2021-2023 Customer Acquisition Revenue Generation Cash and Financing Operational Execution Human Resources Digital and IT Administrative Support
Simple Format for Business & Strategic Focus Areas “Cascade Strategy” Categories 2019 2020 2021-2023 Expansion/Growth – e.g. Expand network to Asia Pacific Revenue/Cost – e.g. Increase sales Customer Satisfaction – e.g. Repeat business from customers Compliance – e.g. Zero regulatory issues Innovation – e.g. Launch new product lines Engagement with a Stakeholder Group – e.g. Engage with our community Employee Happiness – e.g. Proud and Happy Staff
Execution
Organizational Goals: • 2-4 Goals per Focus Area • Contents: Action + Detail + Metric + Units + Deadline • Goals rule of thumb: – Clearly stated outcome and a deadline – Specific and Measurable – Tangibly achievable
Project Goals (The What!) •S pecific •M easurable (DELIVERABLES?) •A ttainable •R ealistic ( relevant) “Our goal is to improve customer satisfaction by 30% by 1 st Jan 2021 by offering an •T ime-bound extraordinary experience to all of our customers as measured by an improvement in our Net Promoter Score”.
The Business Plan – Who and What What the business provides. • Executive Summary • Business Overview • Sales & Marketing Plan • Pricing and Distribution • Operating Plan • Human Resources Plan • Action Plan • Financial Plan
The Strategic Plan – How and When How see self, How want others to see us, How measure success • Executive Summary • SWOT • Goals • KPI’s • Industry Analysis • Competitive Analysis & Advantage • Marketing Plan • Team • Operations Plan • Financial Projections
https://managementhelp.org/blogs/business-planning/2014/05/01/business-plans-vs-strategic-plans//
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Critical Success Factors • Share The Plan • Set clear expectations • Build a culture of learning and innovation • Create a supportive climate • Believe that the impossible – isn’t • Communicate, Communicate, Communicate…
Appendix – Extras for your use…
Finding Your Why? Video 00:00 – 08:11 11:00 – 13:30 17:16 – End…
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THE WHY STATEMENT FORMAT Simon and his team provide us with a simple format to use as we draft our WHY Statement: TO ____ SO THAT ____. The first blank represents your contribution — the contribution you make to the lives others through your WHY. And the second blank represents the impact of your contribution.
Exercise Golden Circle Take 20 minutes as a team to document your what, how and then your why. 49 49
Share your Why! Start from the inside and work your way out! As you start or pursue your mission, you need to share your WHY with others. Worry less about the specs, products or services and more about why you're doing what you're doing. If you search for your WHY and don't find an answer, it's time to take a step back. Think about what excites you, what you want to see in the world and how you can feel fulfilled. Make sure that your day-to-day work and actions fit and are taking you towards this overall vision. Then try to articulate that vision into your WHY.
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