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The Basics of Strategy Development

The Basics of Strategy Development . Lazarski School of Commerce and Law May, 2011 Edward T. Jennings, Jr. University of Kentucky Martin School of Public Policy and Administration e d.jennings@uky.edu. Projekt :

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The Basics of Strategy Development

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  1. The Basics of Strategy Development LazarskiSchool of Commerce and Law May, 2011 Edward T. Jennings, Jr. University of Kentucky Martin School of Public Policy and Administration ed.jennings@uky.edu

  2. Projekt : „Odpowiedź na wyzwania gospodarki opartej na wiedzy: nowy program nauczania na WSHiP”. Projekt współfinansowany ze środków Unii Europejskiej w ramach Europejskiego Funduszu Społecznego.

  3. Strategic planning has a lot of elements • You need a map to toget where you want to go

  4. The Map Includes • The ABCs of strategic planning • An overview of the elements of strategic planning • Important things to remember to overcome roadblocks and arrive at the final destination

  5. ABCs of Strategic Planning • From John Bryson, Strategic Planning A Where You Are Vision, mission, goals Strategy Formulation B Where You Want To Be C How to Get There Strategy Implementation

  6. A. Where You Are • Today’s mission, vision, goals • Assessment of current situation-the SWOT • Identify key issues • Organizational capacity

  7. B. Where You Want to Be • Future mission • Future goals • Future vision

  8. C. How to Get There Strategies produced by discussing A • Clarifying vision, mission, goals • Identify strategic issues • Develop strategies • Develop capacity • Implement strategies

  9. Origins of Strategic Planning • Conduct of war • Competition between armies • Private sector • Quest for competitive advantage • Adapt to changing environment • Public sector • Quest for rationality • Adapt to changing environment

  10. What is strategy? • Prominent business scholar Michael Porter, strategy is about distinctiveness and competitive position. It involves differentiating the organization and adding value through a mix of activities different from those used by competitors.

  11. What is strategy? • Porter defines competitive strategy as "a combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there."

  12. What is strategy? • According to another business scholar, "Corporate strategy is the pattern of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plans for achieving those goals, and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and non-economic contribution it intends to make to its shareholders, employees, customers, and communities. (pp.18-19)."

  13. What is strategy? • John Bryson, who focuses on public and nonprofit organizations, says strategy is “a pattern of purposes, policies, programs, actions, decisions, and resource allocations that defines what an organization is, what it does, and why it does it. Strategies address strategic issues, are designed to achieve goals, and lead to accomplishment of the vision.”

  14. Overview—The Elements of Strategic Planning Take first steps • Agree to plan • Identify mandate, mission, values, vision • Assess external environment: opportunities and challenges • Assess internal environment: resources, capabilities, performance

  15. Develop the Plan • Identify strategic issues • Formulate strategies • Address strategic issues • Focus on highest priorities • Target what you do best

  16. Take Action • Adopt the plan • Implement the plan • Link the plan to policy and budget • Allocate human, organizational, and financial resources • Reorganize • Facilitate change

  17. Important Things to Remember • Politics • Continuous process • Iterate and interact

  18. Planning is in a political environment • Power is important • Always keep stakeholders in mind • Strategic action requires leadership commitment

  19. Planning is continuous

  20. Planning is continuous • It’s not a one time deal • It’s subject to modification in response to changing conditions • Leadership reviews the plan and organizational performance on a regular basis

  21. Iteration and interaction • Mission and vision may change after the environmental assessment • Process can start at various points—mission and vision may change in response to environmental assessment • Strategy development may affect other steps in the process

  22. Who has what role? • Leadership and guidance—from the top of the organization • Environmental scanning—managers, staff, planning staff • Plan development—strategic planning team and stakeholders

  23. Who has what role? • Plan adoption—organizational decision makers • Implementation—everyone in the organization

  24. Projekt : „Odpowiedź na wyzwania gospodarki opartej na wiedzy: nowy program nauczania na WSHiP”. Projekt współfinansowany ze środków Unii Europejskiej w ramach Europejskiego Funduszu Społecznego.

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