1. 1. Clarify Mission, Values, And Vision Statements
1.1. a. The Mission Statement Why we are in the business?
1.1.1. Like managers, we need to be agree with the:
1.1.1.1. Company's purpose (mission)
1.1.1.2. The internal compass that will guide its actions (values)
1.1.1.3. Aspiration for future results (vision).
1.2. b. The Values Statement
1.2.1. Statment of "core values"; we can and need to preserve what has always make special our company.
1.3. c. The Vision Statement
1.3.1. We need to make (three- to ten-year) goals of the organization. This through:
1.3.1.1. Stretch goal (needly different from the company's current position.)
1.3.1.2. Definition of niche
1.3.1.3. Time horizon
1.4. d. The Strategic Change Agenda
1.4.1. We need to provide motivation for a transformational change necessary.
1.4.1.1. In that way, maybe we change: Mission, Executive team focus, Implementation of quality systems, Funding, Infrastructure. (Like in CBS example)
1.5. e. Defining the Enhanced Vision
1.5.1. Like his name say, provides a comprehensive picture of the enabling factors to achieve the vision, including the customer value proposition, key processes, and the intangible assets of people and technology
1.5.1.1. This factors can be from: Financial perspective, customer perspective, process perspective, learning and growth.
1.5.2. Even in this part we divided the strategy into four substrategies:
1.5.2.1. 1. Impact and community 2. Service and quality 3. Efficiency and environment 4. People and learning
2. 4. Incremental Versus Transformational Strategy Update
2.1. Although we have made all this work, new strategies generally have a three- to five-year useful life. This is because the companies make incremental strategy changes each year. Sometimes when the company sees that the strategy has "run it out" , experiences a major transformational event where or begins to fail or does it decide to consider a new transformational strategy.
2.1.1. a. Triggers of a Transformational Strategy
2.1.1.1. Unfortunately this can be negative and there is a lot of factors involved: - Can be negative (financial distress). - Can be the came of a new leader, especially one from outside the organization. - Technological change. - Can be a origin macroeconomic.
3. 3. Formulate The Strategy
3.1. a. Stimulating Creative Strategies
3.1.1. We can make approaches from some stragety stablished like: - Positioning - The resource-based view - Core competencies - Value-based management - Profit-from-the-core - Blue ocean - Emergent strategy - Experience cocreation - Disruptive innovation
3.1.2. Besides we can apply philosophies like: - Six sigma - Lean manufacturing - The learning organization.
3.2. b. Using the Strategy Map to Guide Strategy Selection
3.2.1. Using the strategy map framework and using the information recovered up to now, can we help us to guide strategy selection, so that, we can perform in different situations.
3.2.1.1. Examples: - If, for example, the company has poor capital utilization... - If the company does not have a distinctive brand or market presence... - If the company has distinctive capabilities in important business processes-operations management... - If the company has a great human capital bas...
3.3. c. The OAS Statement
3.3.1. Selected the strategy we need to make it communicable to all managers and employees. A good statement of the strategy, should contain three fundamental elements.
3.3.1.1. - Objective - Advantage - Scope
3.4. d. Strategy Direction Statements
3.4.1. We start to make the level of detail from strategy, addressing such things as measures, targets, initiatives, budgets, etcetera. The strategy direction statement spawns three components that are critical to the subsequent development of de- tailed plans:
3.4.1.1. - Strategic objectives: Specific goal to be achieved. - Do Wells: Critical inputs to the subsequent design of strategy maps and initiatives. - Preliminary measures.
4. 2. Conduct Strategic Analysis
4.1. a. External Analysis
4.1.1. Once we have what need to achieve, needs to understand the impact of macro- and indus- try-level trends on the company's strategy and operations.
4.1.1.1. Troughtle a PESTEL components analysis - Political - Economic - Social - Technological - EnvironmentAL - Legal
4.2. b. Internal Analysis
4.2.1. This analysis help us to organization's own performance and capabilities, we can use:
4.2.1.1. Value Chain Analysis: through this analysis we can know the sequence of processes necessary to deliver a company's products and services to customers.the company's existing strengths and weaknesses, its emerging.
4.3. c. Identifying Strengths, Weaknesses, Opportunities, and Threats (SWOT)
4.3.1. Once with the external and internal analysis, we need to make a SWOT analysis.
4.3.1.1. Strengths Weaknesses Opportunities Threats
4.3.1.1.1. This can be used for take strengths and leveraged it to pursue opportunities and to avoid threats, even we can be alerted to internal weaknesses and external threats that need to be overcome by the strategy.