Strategic Planning Institute of Management
Description: Strategic Planning Institute of Management Accountants NorthEast Regional Council 10th Annual Fall Conference Thomas A. Barron, Jr., Ed.D. Director, M.S. in Organizational Effectiveness Leadership Charter Oak State College Agenda The
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slide1. Strategic Planning Institute of Management Accountants
NorthEast Regional Council 10th Annual Fall Conference
Thomas A. Barron, Jr., Ed.D.
Director, M.S. in Organizational Effectiveness & Leadership
Charter Oak State College<br>
slide2. Agenda The Nature of Strategic Planning
Value Proposition & Business Model
Strategic Analysis Models
Strategic Formulation Models
Strategic Plan
Conclusion<br>
slide3. The Nature of Strategic Planning<br>
slide4. The Strategic-Management Model Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide5. Strategic Decisions Long-term in nature (> 1 year)
Rare: Unusual and have no precedent to follow
Consequential: Commit substantial resources & demand a great deal of commitment from people at all levels
Directive: Set precedents for lesser decisions & future actions throughout the organization<br>
slide6. Pitfalls in Strategic Planning Doing strategic planning only to satisfy accreditation or regulatory requirements
Failing to communicate the plan to employees
Failing to involve key employees in all phases of planning
Top managers not actively supporting the strategic-planning process
Failing to use plans as a standard for measuring performance
Thinking tactically instead of strategically Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide7. Value Proposition & Business Model<br>
slide8. Value Proposition An innovation, service, or feature intended to make a company or product attractive to potential customers.
Focus:
What problem or need is not being addressed in the market?
What product or service can you provide that will add more value or better solve a problem than current offerings in the market?<br>
slide9. Value Proposition Competitive advantage
Anything that a firm does especially well compared to rival firms
Goal: Utilize a firm’s competitive advantage to create economic value for both the firm and its customer<br>
slide10. Value Proposition<br>
slide11. Value Proposition Value Map Products & Services
List of products & services a value proposition is built around
Gain Creators
Describe how your products & services create customer gains
Pain Relievers
Describe how your products & services alleviate customer pain Customer Profile Customer Jobs
Describe what customers are trying to get done in their work & in their lives (their own words)
Pains
Describe bad outcomes, risks & obstacles related to customer jobs
Gains
Describe the outcomes customers want to achieve or the concrete benefits they are seeking<br>
slide12. Value Proposition Steps:
Step 1: Create the Customer Profile
Step 2: Create the Value Map
Step 3: Determine the Fit<br>
slide13. Customer Profile: Identify Jobs The types of things your customers are trying to get done in their work or personal lives
Functional Jobs- Customers attempt to complete a specific task or solve a specific problem
Social Jobs- How customer wants to be perceived by others
Personal / Emotional Jobs- Customer seeks a specific emotional state<br>
slide14. Customer Profile: Types of Pains Undesired Outcomes, Problems, & Characteristics
Functional- Doesn’t work well
Social- I look bad doing this
Emotional- Feel bad doing this
Ancillary- Annoying, inconvenient
Risks
Undesired potential outcomes
Important negative consequences
Obstacles
Prevent a customer from starting a job or that slow them down
Cost, time, resources<br>
slide15. Customer Profile: Types of Gains Describe the outcomes / benefits your customer wants
Required Gains
Solution will not work unless these gains are achieved
Expected Gains
Basic gains that we expect from a solution, even if it could work without them
Desired Gains
Gains that go beyond what we expect from a solution but would love to have if we could (customer can identify)
Unexpected Gains
Gains that go beyond customer expectations (customer does not identify).<br>
slide16. Customer Profile Prioritization Prioritize Jobs, Pains, & Gains Jobs Pains Gains Important Insignificant Extreme Essential Moderate Nice to Have<br>
slide17. Customer Profile- Management Tips One Value Proposition Canvas for each different customer segment
Do not mix jobs & outcomes
Focus on all three job types (Functional, Social, & Emotional)
Focus on the customer & facts, dig deep, really understand what is going on with your customer
Brainstorming is key
Be specific<br>
slide18. Value Map Steps:
Step 1: List Products & Services
Step 2: Identify Pain Relievers
Step 3: Identify Gain Creators
Step 4: Rank Products & Services, Pain Relievers, & Gain Creators<br>
slide19. Value Map: Products & Services Products & Services
List all the products and services that you offer
Helps customers complete jobs
Functional
Social
Emotional
Customer segment focus<br>
slide20. Value Map: Pain Relievers Describe exactly how your products & services alleviate specific customer pains
Savings (time & money)
Make customers feel better; eliminate concerns
Fix underperforming solutions
Eliminate obstacles
Eliminate negative social consequences
Eliminate / minimize risks
Eliminate processing / customer errors
Eliminate barriers that keep customers from adopting your value proposition<br>
slide21. Value Map: Gain Creators Describe exactly how your products & services will produce outcomes and benefits that your customer expects
Savings (time & money)
Outcomes that customers are specifically looking for or exceed expectations
Outperform current value propositions; makes adoption of value proposition easier
Make work / life easier; Create positive social consequences
Achieve customer dreams / aspirations<br>
slide22. Value Map Prioritization Products & Services Pain Relievers Gain Creators Essential Nice to Have Essential Essential Nice to Have Nice to Have<br>
slide23. Fit Achieved when customers get excited about your value proposition
Address important jobs
Alleviate extreme pain
Create essential gains
Based on what the customer cares about
Ongoing, continuous challenge for businesses<br>
slide24. Great Value Proposition Characteristics Embedded in great business models
Focus on jobs, pains, & gains that matter most to the customer
Focus on unsatisfied jobs, unresolved pains, & unrealized gains
Target few jobs, pains, & gains but do so extremely well
Address functional, social, & emotional jobs Align with how customers measure success
Focus on jobs, pains, & gains that a lot of people have or will pay a lot of money for
Differentiate from competition on jobs, pains, & gains that customers care about
Outperform competition substantially on at least one dimension
Are difficult to copy<br>
slide25. Competitive Advantage Core Competency Identification
Collection of competencies the corporation does exceedingly well
Provides access to a wide variety of markets
Make a significant contribution to the perceived customer benefits of the end product / service
Difficult for competitors to duplicate
5 to 6 core competencies at most
Core Competencies + Strong Value Proposition = Competitive Advantage<br>
slide26. Business Model A business model describes a rationale of how an organization creates, delivers and captures value<br>
slide28. Business Model Customer Segments:
Require / justify a distinct offer
Reached through different distribution channels
Require different types of relationships
Substantially different profit generation levels
Willingness to pay for different aspects of the offer Value Proposition:
An innovation, service, or feature intended to make a company or product attractive to potential customers.<br>
slide29. Business Model Channels:
Awareness- How do we raise awareness of company’s products & services?
Evaluation- How do we help customers evaluate our Value Proposition?
Purchase- How do we allow our customers to purchase the products and services?
Delivery- How do we deliver a value proposition to our customers?
After Sales- How do we provide post-purchase customer support? Key Resources:
Physical
Intellectual
Human Capital
Financial<br>
slide30. Business Model Customer Relationships:
Customer acquisition
Customer retention
Boosting sales (upselling) Key Activities:
Most important things a company must do to make its business model work
Production
Problem solving
Platform / network<br>
slide31. Business Model Revenue Streams:
Revenues from one-time or recurring customer payments
Asset sales
Subscription fees
Renting / Leasing
Licensing
Brokerage Fees
Advertising
How do we price our product or service??? Cost Structures:
Cost-driven (Focus on minimizing costs)
Value-driven (Focus on value creation)
Cost Characteristics:
Fix Costs
Variable Costs
Economies of Scale (Unit Output)
Economies of Scope (Scope of Operations)<br>
slide32. Business Model Key Partnerships
Motivations:
Optimization and economies of scale
Reduction of risk and uncertainty
Acquisition of particular resources and activities Types of Partnerships:
Strategic alliances (non-competitors)
Coopetition (strategic partnerships between competitors)
Joint ventures to develop a new business
Supply chain relationships to assure reliable supplies<br>
slide33. Strategic Analysis Models<br>
slide34. Strategic Analysis Management Tips # 1: Everything we do related to strategic management revolves around reacting to or acting in anticipation of external environmental conditions
# 2: Assign measures / quantify everything<br>
slide35. SWOT Analysis External Analysis: Opportunities & Threats
Economic
Social, Cultural, Demographic, & Environmental
Political, Legal, & Governmental
Competitors
Technological<br>
slide36. Porter’s Five-Forces Model of Competition Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide37. Internal Analysis: Strengths & Weaknesses
Management
Marketing
Finance/Accounting
Production/Operations
Research & Development
Management Information Systems
Human Resources SWOT Analysis<br>
slide38. Internal Analysis Focus Competency = Capability
Core Competency
Collection of competencies spread across the organization that the business does exceedingly well
Distinctive Competency
Core competencies that are superior to the competition<br>
slide39. Value Chain Firm Infrastructure
General Mgt., Accounting, Finance, Strategic Planning Human Resource Management
Recruiting, Training, Development Technology Development
R&D, Process Improvement Procurement
Purchasing of raw materials, machines, supplies Inbound logistics Operations Outbound logistics Marketing & Sales Service Primary Activities Support Activities Profit Margin<br>
slide40. Strategy Formulation Models<br>
slide41. SWOT Matrix- Four Types of Strategies SO Strategies
Use a firm’s internal strengths to take advantage of external opportunities
ST Strategies
Use a firm’s strengths to avoid or reduce the impact of external threats WO Strategies
Aim at improving internal weaknesses by taking advantage of external opportunities
WT Strategies
Defensive tactics directed at reducing internal weakness and avoiding external threats Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide42. SWOT Matrix Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide43. SWOT Matrix Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide44. Strategic Plan<br>
slide45. Mission Statement “What is our business or our reason for being?”
Broadly outlines the organization’s future direction.
Expresses values or expectations of stakeholders.
Short , concise, clear, & easy to remember.
Galvanize all employees to focused action<br>
slide46. Mission Statement Broad enough to allow for creative growth
Be limited enough to exclude non-congruent ventures
Serve as a framework for evaluating both current and prospective activities
Value proposition focused<br>
slide47. Strategic Plan<br>
slide48. Strategic Plan Objectives:
Overarching goals identified as most important to the current and future health of the business
Limited in number
Abstract, serves as the framework for identifying and categorizing strategies Common Examples:
Achieve growth
Profit maximization
Efficiency
Leverage technology
Customer service<br>
slide49. Strategic Plan Strategies:
High-level plan for purposes of achieving an organization’s business objective
Must use SMART criteria
Identifies Key Performance Measures Example Objective: Achieve Growth
In the next 3 years remodel and expand 15 existing stores
In the next 3 years build 5 new stores, at least 75,000 sq. ft. in Massachusetts<br>
slide50. Strategic Plan Tactical Plan:
Annual operating plan
Based on identified Objectives and Strategies
SMART criteria
Utilizes Key Performance Measures to evaluate level of success
Allocate required resources Example Objective: Achieve Growth
Remodel 2 stores in Sturbridge and Worcester Massachusetts remodel and expand 2 existing stores in Boston by December 31
Build 1 new store in Hyannis, Massachusetts with 75,000 sq. ft. by October 31<br>
slide51. Strategic Plan Key Performance Measures / Key Performance Indicators
Organizations should identify key performance indicators that will drive organizational success that will assess achievement of objectives and strategies
If these measures are achieved the organization should achieve its plan
Limit the number of KPM / KPI of “total company-based” measures to be focused on by senior management (10-12)
Financial as well as operational measures are required<br>
slide52. Competitive Companies Characteristics Market share matters, growth matters
Whether it’s broke or not, fix it & make it better
Innovate or evaporate
People (more specifically the talents and skills they contribute that provide a value-add to an organization) make a difference
Cost, quality, and speed of delivery are expected by customers Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide53. Conclusion- Key Concepts Understand and remember precisely what business you are in- VALUE PROPOSITION !!!
Strategic environmental analysis is a critical aspect of the strategic planning process. A quality effort in this phase is a prerequisite for future strategic planning & implementation success.
People love to plan, but it is the “DO”, the achieving of results that matters. Everyone must be held accountable to the achievement of the plan.<br>
slide54. References David, F. R., & David, F. R. (2015). Strategic management: A competitive advantage (15th ed.). Upper Saddle River, NJ: Pearson.
Osterwalder, A., & Pigneur, Y. (2010). Business model generation. Hoboken, NJ: John Wiley & Sons
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design. Hoboken, NJ: John Wiley & Sons<br>
NorthEast Regional Council 10th Annual Fall Conference
Thomas A. Barron, Jr., Ed.D.
Director, M.S. in Organizational Effectiveness & Leadership
Charter Oak State College<br>
slide2. Agenda The Nature of Strategic Planning
Value Proposition & Business Model
Strategic Analysis Models
Strategic Formulation Models
Strategic Plan
Conclusion<br>
slide3. The Nature of Strategic Planning<br>
slide4. The Strategic-Management Model Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide5. Strategic Decisions Long-term in nature (> 1 year)
Rare: Unusual and have no precedent to follow
Consequential: Commit substantial resources & demand a great deal of commitment from people at all levels
Directive: Set precedents for lesser decisions & future actions throughout the organization<br>
slide6. Pitfalls in Strategic Planning Doing strategic planning only to satisfy accreditation or regulatory requirements
Failing to communicate the plan to employees
Failing to involve key employees in all phases of planning
Top managers not actively supporting the strategic-planning process
Failing to use plans as a standard for measuring performance
Thinking tactically instead of strategically Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide7. Value Proposition & Business Model<br>
slide8. Value Proposition An innovation, service, or feature intended to make a company or product attractive to potential customers.
Focus:
What problem or need is not being addressed in the market?
What product or service can you provide that will add more value or better solve a problem than current offerings in the market?<br>
slide9. Value Proposition Competitive advantage
Anything that a firm does especially well compared to rival firms
Goal: Utilize a firm’s competitive advantage to create economic value for both the firm and its customer<br>
slide10. Value Proposition<br>
slide11. Value Proposition Value Map Products & Services
List of products & services a value proposition is built around
Gain Creators
Describe how your products & services create customer gains
Pain Relievers
Describe how your products & services alleviate customer pain Customer Profile Customer Jobs
Describe what customers are trying to get done in their work & in their lives (their own words)
Pains
Describe bad outcomes, risks & obstacles related to customer jobs
Gains
Describe the outcomes customers want to achieve or the concrete benefits they are seeking<br>
slide12. Value Proposition Steps:
Step 1: Create the Customer Profile
Step 2: Create the Value Map
Step 3: Determine the Fit<br>
slide13. Customer Profile: Identify Jobs The types of things your customers are trying to get done in their work or personal lives
Functional Jobs- Customers attempt to complete a specific task or solve a specific problem
Social Jobs- How customer wants to be perceived by others
Personal / Emotional Jobs- Customer seeks a specific emotional state<br>
slide14. Customer Profile: Types of Pains Undesired Outcomes, Problems, & Characteristics
Functional- Doesn’t work well
Social- I look bad doing this
Emotional- Feel bad doing this
Ancillary- Annoying, inconvenient
Risks
Undesired potential outcomes
Important negative consequences
Obstacles
Prevent a customer from starting a job or that slow them down
Cost, time, resources<br>
slide15. Customer Profile: Types of Gains Describe the outcomes / benefits your customer wants
Required Gains
Solution will not work unless these gains are achieved
Expected Gains
Basic gains that we expect from a solution, even if it could work without them
Desired Gains
Gains that go beyond what we expect from a solution but would love to have if we could (customer can identify)
Unexpected Gains
Gains that go beyond customer expectations (customer does not identify).<br>
slide16. Customer Profile Prioritization Prioritize Jobs, Pains, & Gains Jobs Pains Gains Important Insignificant Extreme Essential Moderate Nice to Have<br>
slide17. Customer Profile- Management Tips One Value Proposition Canvas for each different customer segment
Do not mix jobs & outcomes
Focus on all three job types (Functional, Social, & Emotional)
Focus on the customer & facts, dig deep, really understand what is going on with your customer
Brainstorming is key
Be specific<br>
slide18. Value Map Steps:
Step 1: List Products & Services
Step 2: Identify Pain Relievers
Step 3: Identify Gain Creators
Step 4: Rank Products & Services, Pain Relievers, & Gain Creators<br>
slide19. Value Map: Products & Services Products & Services
List all the products and services that you offer
Helps customers complete jobs
Functional
Social
Emotional
Customer segment focus<br>
slide20. Value Map: Pain Relievers Describe exactly how your products & services alleviate specific customer pains
Savings (time & money)
Make customers feel better; eliminate concerns
Fix underperforming solutions
Eliminate obstacles
Eliminate negative social consequences
Eliminate / minimize risks
Eliminate processing / customer errors
Eliminate barriers that keep customers from adopting your value proposition<br>
slide21. Value Map: Gain Creators Describe exactly how your products & services will produce outcomes and benefits that your customer expects
Savings (time & money)
Outcomes that customers are specifically looking for or exceed expectations
Outperform current value propositions; makes adoption of value proposition easier
Make work / life easier; Create positive social consequences
Achieve customer dreams / aspirations<br>
slide22. Value Map Prioritization Products & Services Pain Relievers Gain Creators Essential Nice to Have Essential Essential Nice to Have Nice to Have<br>
slide23. Fit Achieved when customers get excited about your value proposition
Address important jobs
Alleviate extreme pain
Create essential gains
Based on what the customer cares about
Ongoing, continuous challenge for businesses<br>
slide24. Great Value Proposition Characteristics Embedded in great business models
Focus on jobs, pains, & gains that matter most to the customer
Focus on unsatisfied jobs, unresolved pains, & unrealized gains
Target few jobs, pains, & gains but do so extremely well
Address functional, social, & emotional jobs Align with how customers measure success
Focus on jobs, pains, & gains that a lot of people have or will pay a lot of money for
Differentiate from competition on jobs, pains, & gains that customers care about
Outperform competition substantially on at least one dimension
Are difficult to copy<br>
slide25. Competitive Advantage Core Competency Identification
Collection of competencies the corporation does exceedingly well
Provides access to a wide variety of markets
Make a significant contribution to the perceived customer benefits of the end product / service
Difficult for competitors to duplicate
5 to 6 core competencies at most
Core Competencies + Strong Value Proposition = Competitive Advantage<br>
slide26. Business Model A business model describes a rationale of how an organization creates, delivers and captures value<br>
slide28. Business Model Customer Segments:
Require / justify a distinct offer
Reached through different distribution channels
Require different types of relationships
Substantially different profit generation levels
Willingness to pay for different aspects of the offer Value Proposition:
An innovation, service, or feature intended to make a company or product attractive to potential customers.<br>
slide29. Business Model Channels:
Awareness- How do we raise awareness of company’s products & services?
Evaluation- How do we help customers evaluate our Value Proposition?
Purchase- How do we allow our customers to purchase the products and services?
Delivery- How do we deliver a value proposition to our customers?
After Sales- How do we provide post-purchase customer support? Key Resources:
Physical
Intellectual
Human Capital
Financial<br>
slide30. Business Model Customer Relationships:
Customer acquisition
Customer retention
Boosting sales (upselling) Key Activities:
Most important things a company must do to make its business model work
Production
Problem solving
Platform / network<br>
slide31. Business Model Revenue Streams:
Revenues from one-time or recurring customer payments
Asset sales
Subscription fees
Renting / Leasing
Licensing
Brokerage Fees
Advertising
How do we price our product or service??? Cost Structures:
Cost-driven (Focus on minimizing costs)
Value-driven (Focus on value creation)
Cost Characteristics:
Fix Costs
Variable Costs
Economies of Scale (Unit Output)
Economies of Scope (Scope of Operations)<br>
slide32. Business Model Key Partnerships
Motivations:
Optimization and economies of scale
Reduction of risk and uncertainty
Acquisition of particular resources and activities Types of Partnerships:
Strategic alliances (non-competitors)
Coopetition (strategic partnerships between competitors)
Joint ventures to develop a new business
Supply chain relationships to assure reliable supplies<br>
slide33. Strategic Analysis Models<br>
slide34. Strategic Analysis Management Tips # 1: Everything we do related to strategic management revolves around reacting to or acting in anticipation of external environmental conditions
# 2: Assign measures / quantify everything<br>
slide35. SWOT Analysis External Analysis: Opportunities & Threats
Economic
Social, Cultural, Demographic, & Environmental
Political, Legal, & Governmental
Competitors
Technological<br>
slide36. Porter’s Five-Forces Model of Competition Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide37. Internal Analysis: Strengths & Weaknesses
Management
Marketing
Finance/Accounting
Production/Operations
Research & Development
Management Information Systems
Human Resources SWOT Analysis<br>
slide38. Internal Analysis Focus Competency = Capability
Core Competency
Collection of competencies spread across the organization that the business does exceedingly well
Distinctive Competency
Core competencies that are superior to the competition<br>
slide39. Value Chain Firm Infrastructure
General Mgt., Accounting, Finance, Strategic Planning Human Resource Management
Recruiting, Training, Development Technology Development
R&D, Process Improvement Procurement
Purchasing of raw materials, machines, supplies Inbound logistics Operations Outbound logistics Marketing & Sales Service Primary Activities Support Activities Profit Margin<br>
slide40. Strategy Formulation Models<br>
slide41. SWOT Matrix- Four Types of Strategies SO Strategies
Use a firm’s internal strengths to take advantage of external opportunities
ST Strategies
Use a firm’s strengths to avoid or reduce the impact of external threats WO Strategies
Aim at improving internal weaknesses by taking advantage of external opportunities
WT Strategies
Defensive tactics directed at reducing internal weakness and avoiding external threats Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide42. SWOT Matrix Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide43. SWOT Matrix Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide44. Strategic Plan<br>
slide45. Mission Statement “What is our business or our reason for being?”
Broadly outlines the organization’s future direction.
Expresses values or expectations of stakeholders.
Short , concise, clear, & easy to remember.
Galvanize all employees to focused action<br>
slide46. Mission Statement Broad enough to allow for creative growth
Be limited enough to exclude non-congruent ventures
Serve as a framework for evaluating both current and prospective activities
Value proposition focused<br>
slide47. Strategic Plan<br>
slide48. Strategic Plan Objectives:
Overarching goals identified as most important to the current and future health of the business
Limited in number
Abstract, serves as the framework for identifying and categorizing strategies Common Examples:
Achieve growth
Profit maximization
Efficiency
Leverage technology
Customer service<br>
slide49. Strategic Plan Strategies:
High-level plan for purposes of achieving an organization’s business objective
Must use SMART criteria
Identifies Key Performance Measures Example Objective: Achieve Growth
In the next 3 years remodel and expand 15 existing stores
In the next 3 years build 5 new stores, at least 75,000 sq. ft. in Massachusetts<br>
slide50. Strategic Plan Tactical Plan:
Annual operating plan
Based on identified Objectives and Strategies
SMART criteria
Utilizes Key Performance Measures to evaluate level of success
Allocate required resources Example Objective: Achieve Growth
Remodel 2 stores in Sturbridge and Worcester Massachusetts remodel and expand 2 existing stores in Boston by December 31
Build 1 new store in Hyannis, Massachusetts with 75,000 sq. ft. by October 31<br>
slide51. Strategic Plan Key Performance Measures / Key Performance Indicators
Organizations should identify key performance indicators that will drive organizational success that will assess achievement of objectives and strategies
If these measures are achieved the organization should achieve its plan
Limit the number of KPM / KPI of “total company-based” measures to be focused on by senior management (10-12)
Financial as well as operational measures are required<br>
slide52. Competitive Companies Characteristics Market share matters, growth matters
Whether it’s broke or not, fix it & make it better
Innovate or evaporate
People (more specifically the talents and skills they contribute that provide a value-add to an organization) make a difference
Cost, quality, and speed of delivery are expected by customers Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall<br>
slide53. Conclusion- Key Concepts Understand and remember precisely what business you are in- VALUE PROPOSITION !!!
Strategic environmental analysis is a critical aspect of the strategic planning process. A quality effort in this phase is a prerequisite for future strategic planning & implementation success.
People love to plan, but it is the “DO”, the achieving of results that matters. Everyone must be held accountable to the achievement of the plan.<br>
slide54. References David, F. R., & David, F. R. (2015). Strategic management: A competitive advantage (15th ed.). Upper Saddle River, NJ: Pearson.
Osterwalder, A., & Pigneur, Y. (2010). Business model generation. Hoboken, NJ: John Wiley & Sons
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design. Hoboken, NJ: John Wiley & Sons<br>