STRATEGY-Course 1
What is strategy?
What is my game plan to win? Different types of strategy
Strategy: an action plan, approach or game plan for achieving a goal or result.
Strategy incorporates:
Carry out its mission
Achieve its vision
Beat the competition
Satisfy customers, stakeholders and employees
Achieve & maintain short & long-term success
Strategy is about making the right decisions and taking actions that have organization-wide
impact.
STRATEGY ADRESSES…
How management intends to grow the business
How the organization relates to other companies in terms of competition &
collaboration
How the functional components of the business relate and coordinate with each
other
Which services & programs will be emphasized and receive great relative allocation
of resources
What the relationship & culture among employees will be.
WHAT IS THE BIGGEST PB WITH STRATEGY AND PERFORMANCE
MANAGEMENT?
“Less than 10% of strategies effectively formulated are effectively executed”
“Why do they fail, we estimate that in 70% of cases it isn’t bad strategy but bad execution “
STRATEGIES CAN BE DIFFERENT
Strategies are developed to guide behaviors & achieve organizational mission,
vision and goals.
Diff organizations have different strengths and capabilities even if they have the
same mission
STRATEGY DEFINITION & CREATION
, Strategy is self-contained process of knowing what you want to do in order to achieve
positive outcomes
1) Identify the specific goals
2) Design an approach with steps to achieve them
3) Devise a process of implementing that approach
GOOD STRATEGY WILL ANSWER 4 QUESTIONS:
Where do we compete?
What unique value do we bring to win in those markets?
What resources & capabilities do we utilize to deliver that value ?
How do we sustain our ability to provide that unique value ?
PROVEN MODELS AND METHODOLOGIES:
Porters’ five force models :
BCG growth Share MATRIX
Balanced Scorecard
SWOT
What is strategy?
What is my game plan to win? Different types of strategy
Strategy: an action plan, approach or game plan for achieving a goal or result.
Strategy incorporates:
Carry out its mission
Achieve its vision
Beat the competition
Satisfy customers, stakeholders and employees
Achieve & maintain short & long-term success
Strategy is about making the right decisions and taking actions that have organization-wide
impact.
STRATEGY ADRESSES…
How management intends to grow the business
How the organization relates to other companies in terms of competition &
collaboration
How the functional components of the business relate and coordinate with each
other
Which services & programs will be emphasized and receive great relative allocation
of resources
What the relationship & culture among employees will be.
WHAT IS THE BIGGEST PB WITH STRATEGY AND PERFORMANCE
MANAGEMENT?
“Less than 10% of strategies effectively formulated are effectively executed”
“Why do they fail, we estimate that in 70% of cases it isn’t bad strategy but bad execution “
STRATEGIES CAN BE DIFFERENT
Strategies are developed to guide behaviors & achieve organizational mission,
vision and goals.
Diff organizations have different strengths and capabilities even if they have the
same mission
STRATEGY DEFINITION & CREATION
, Strategy is self-contained process of knowing what you want to do in order to achieve
positive outcomes
1) Identify the specific goals
2) Design an approach with steps to achieve them
3) Devise a process of implementing that approach
GOOD STRATEGY WILL ANSWER 4 QUESTIONS:
Where do we compete?
What unique value do we bring to win in those markets?
What resources & capabilities do we utilize to deliver that value ?
How do we sustain our ability to provide that unique value ?
PROVEN MODELS AND METHODOLOGIES:
Porters’ five force models :
BCG growth Share MATRIX
Balanced Scorecard
SWOT
