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21 KEYS TO STRATEGIC PLANNING

21 KEYS TO STRATEGIC PLANNING. By Dr. Robert E. Beaudoin. Strategic Variables. Obective-know what you want to accomplish. Offensive-all strategy is offensive. Mass-mass your forces at critical time. Manuever-ability to move sidewards, be flexible Economy-least cost, least damage

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21 KEYS TO STRATEGIC PLANNING

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  1. 21 KEYS TO STRATEGIC PLANNING By Dr. Robert E. Beaudoin

  2. Strategic Variables • Obective-know what you want to accomplish. • Offensive-all strategy is offensive. • Mass-mass your forces at critical time. • Manuever-ability to move sidewards, be flexible • Economy-least cost, least damage • Exploitation-gain market/customers, move rapidly

  3. Why Strategy? • Increase return on investment • Re-position your company • Maximize strengths and opportunities • Engage in Action..NOW!

  4. Who? • CEO • Implementors • Department Heads

  5. Who Else? • Outside Consultants • Objective Facilitator

  6. Mission Statement • Qualitative • Inspiring • Uplifting • Umbrella Statement

  7. Values • Your “IDEAL” view • Beliefs & Values • Fundamental Beliefs • What your organization stands for… • IBM = Excellent Service, Excellence for the Customer, Respect for the Individual

  8. The Driving Force Product/Service Driving Force. Market Needs-What is it my market needs? Technology-Application determined by technology. Production Capabilities-Produce different kinds of products. Method of Sales. Distribution Methods. Natural Resources. Size/Growth-Market shares grows. Return Profit-The Organizing Principle.

  9. Concentration of Power • Things you can do well. • 80/20 Rule=Cost of doing business. • Profit is in size of transaction. • Key Strengths=Mass surprise and Manuever. • Key Weaknesses=do poorly

  10. 0 – Base Thinking • Would we do ________________, knowing what we know now? • People ______________ Would we hire them, knowing what we know now?

  11. Investment Strategy • Where to invest our resources? • Divestment=Get rid of yesterday in order to go on to tomorrow. • Invest in Managerial Ego=Failure!

  12. Crisis Application • What is Worst Possible Outcome? • What if…new competitor? …Key people left?…Adjust!

  13. Market Share & Growth Matrix Share High Cash Cows Stars Dogs Question Markets Low Growth

  14. Strategic Business Unit Concept • Group Product and Services in Categories • Separate Profit Centers – Builds Efficiencies

  15. Choosing Your Competitor • Who or What is your Competitor? • Asking your Strengths & Weaknesses relative to your competitor?

  16. Strategic Variables • Markets you are going into. • Finances • People (Key Limitation) • Technology • Production Capability (in house/out house)

  17. Strategic Operations Matrix Strategy Clear Unclear Efficient Inefficient Success Doubtful Operation Doubtful Failure

  18. Define Your Business • What is our business? • What will it be? • What could it be?(possibility..regional best) • What should it be? (Ideal, Vision)

  19. Financial Objectives • Return on Equity • Return on Investment • Return on Sales • Net Profit = Only Real Measure

  20. Profitability • Quality of Products or Services • Quality of Associated Services

  21. Quality • Define it Clearly • Recognize it when they see it.

  22. Strategic Marketing • Specialization – Do a few things well • Differentiation – Unique key difference • Segmentation – Look at part of market, niche • Concentration of Power – Dominate that part of the market

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