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ASSESSING COMPETENCIES

ASSESSING COMPETENCIES. Must understand industry first. What customers/consumers want Nature of competition Laws, regulations…… Must know key success factors. WHY COMPETENCIES?. Why not focus on assets? Why not focus on resources? Why not focus on skills?

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ASSESSING COMPETENCIES

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  1. ASSESSING COMPETENCIES • Must understand industry first. • What customers/consumers want • Nature of competition • Laws, regulations…… • Must know key success factors

  2. WHY COMPETENCIES? • Why not focus on assets? • Why not focus on resources? • Why not focus on skills? • Why not focus on strengths/weaknesses?

  3. WHY COMPETENCIES? • Outback Steakhouse Example: • Strength: Good beef, good suppliers • Strengths in other countries/markets? • Competency: Find very good suppliers, build strong relationships. • Strength in other countries/markets?

  4. Strategy/Planning Marketing Finance Manufacturing Human Resources Organization Design Information Control Culture Other? ASSESSING COMPETENCIESStrengths, Weaknesses, Competencies, Strategies

  5. STRATEGY/PLANNING • Evidence of? • Nature of? (Use budget as plan?) • Who is doing it? • Strategic Thinking!

  6. MARKETING SYSTEM • Meeting Wants/Needs • Products/Services/Mix • Customers’ Perceptions • Promotion • Distribution (Fit? Control?) • Pricing • Competitive Position

  7. FINANCE SYSTEM • For Specific Product, Business Unit • Margins • Cost Structure • Activity-based Accounting? • Overall • ROA, ROI • ROS, ROE • Cash Flow • Credit Potential

  8. PRODUCTION SYSTEM • Processes Appropriate • Supplies, Materials • Alliances With Suppliers • Quality, Cost • Equipment, Facilities • Technology • Condition • Safety Concerns • Ecological Concerns

  9. HUMAN RESOURCES SYSTEM • Management Team • Competencies, Skills • Educate • Train • Develop (Build Competencies) • Rewards Tied To Goals • Employee-Mgmt. Relations

  10. ORGANIZATION DESIGNAS RELATED TO • Technology, Processes • Information, Communication • Authority Flow • Responsibility, Control • Coordination • Position of Product, Unit

  11. INFORMATION SYSTEM • Gather Proper Data • Tools • Forms…….. • Computer, Software • Real Messages (Perceptions) • Rewards – What, Who, Why? • Symbols, Culture • Action of Managers

  12. CONTROL • What is Measured • Real • Perceived • What is Rewarded • Real • Perceived

  13. CULTURE • Dominant Values, Beliefs • Norms • Symbols • Action of Managers • Related to Strategy, Goals?

  14. ASSESSING COMPETENCIES • Compare Competencies to “Situation” • Compare Competencies to Competitors • Competitive Position • Benchmark • To “Best in Class” • To Competitors

  15. ASSESSING COMPETENCIES • Competency/Strength is Valuable Only If: • Valuable to customer/consumer • Relatively Rare • Costly to Imitate • Nonsubstitutable

  16. ASSESSING COMPETENCIES • How to Do It? • Yourself • Group(s) Inside Company • Outside Assistance • Ask Customers (Customer Perceptions) • Ask Suppliers • Ask Others?????

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