welcome! yp leadership workshop 1/21/12. strategic planning keshia johnson matt sinclair evan ishida

Download Welcome! YP Leadership Workshop 1/21/12. Strategic Planning Keshia Johnson Matt Sinclair Evan Ishida

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Welcome! YP Leadership Workshop 1/21/12 Slide 2 Strategic Planning Keshia Johnson Matt Sinclair Evan Ishida Slide 3 Agenda What is Strategic Planning? Importance of a Vision and Mission Evaluating Internal and External Factors Setting Goals-SMART-Keshia Action Planning Exercise: Breakout Discussion Executing an Action Plan Wrap Up Discussion Slide 4 Self Assessment Can you define strategic planning? Before we start, lets assess the audiences knowledge of strategic planning: Do you know what questions strategic planning can help answer? Slide 5 Definition of Strategic Planning The activity an organization undertakes to define its strategic direction and align the organization behind the strategy Results in the organization more effectively implementing its strategy and managing performance as conditions change Results in a well-defined strategy for the organization to pursue 5 Strategic Planning: Strategic Planning Process: The foundational process that enables an organization to dynamically adjust its strategy based on changing conditions and performance to achieve targeted results Slide 6 Despite the importance of strategic planning, many industry leading organizations do not plan well Source:Harvard Business School, The Office of Strategy Management, Robert S. Kaplan, Mar 2006. Accenture Research, The Future Used to be Easier: Planning for Success in Dynamic Environments, Jun 2010. BARC Institute, Planning and Budgeting in European Companies, Jun 2008 65 percent of typical organizations do not link their strategic priorities to their budget, virtually ensuring that key strategic initiatives do not get funded and resources may not be supplied to deliver on the strategic plan - Harvard Business School 95 percent of employees in most organizations do not understand their [own] strategy - Harvard Business School More than two thirds of companies admit that their planning accuracy has diminished due to economic volatility, while more than 80% recognize that the importance of accurate plans is actually increasing for the same reason - Accenture Research 77% of companies change their planning process every year; 85% are planning to enhance their core planning capabilities in the next 1-2 years - BARC Institute Slide 7 Strategic Planning is undertaken by organizations in order to prepare for success and hedge against uncertainty What products and services will my customers demand in the future? What are the players I need to deal with in the future? And how can I win my battles? What oversight might my organization expect, and what are the implications of that oversight? What are the prospects for success for my organization? Organizations want to understand the drivers of uncertainty and set clear, obtainable goals Slide 8 Develop a robust comprehensive strategy with clear performance outcomes Create greater alignment among leadership team in translating plans into tactics Institute more effective management of the organization and performance orientation Enact key initiatives at an efficient pace Increase certainty and reduce volatility Integrate organizational readiness and ability to adapt to changing needs Benefits of Strategic Planning 8 Increase ability to adapt to organizational needs with pace, certainty and agility Slide 9 9 When planning, we take into account key considerations and leading practices in our strategy development process Set strategic direction and goals Develop action plans and roadmap Incorporate contingency plans Implementation planning Build measurement reporting methodology Execute on action plans Refine process and improve Phase 1: Analysis Phase 2: Design Phase 3: Alignment & Execution Understand organizational motivation Develop situational awareness Incorporate expertise from key stakeholders Develop vision statements and mission statement Slide 10 10 When planning, we take into account key considerations and leading practices in our strategy development process Phase 1: Analysis Phase 2: Design Phase 3: Alignment & Execution Plan with the end in mind 1.4 Organizational vision 1.3 Incorporate expertise from key stakeholders 1.2 Develop situational awareness 1.1 Understand Organizational Motivation Determine the key drivers of the organization Understand historical reasoning for prior decisions Communicate motivation to stakeholders Understand the needs for the organization in the marketplace Understand niche in which organization fits Interview external resources for input Interview key stakeholders Develop stakeholder analysis Develop vision statement Set organizational mission statement Slide 11 11 When planning, we take into account key considerations and leading practices in our strategy development process Phase 1: Analysis Phase 2: Design Phase 3: Alignment & Execution Plan with the end in mind 2.3 Contingency plan 2.2 Action plans and roadmap 2.1 Initial strategic direction and goals Understand end goal of organization Understand objectives that must be met to reach end state Develop tangible and achievable goals Narrow scope to eliminate non-valuable activities Identify actionable deliverables needed to achieve goal Identify milestones and timelines that must be adhered to Assign responsible and accountable resources Develop accountability plan Develop risk and issue escalation process Understand method by which to address risks Address contingencies Prepare for worst case scenario Slide 12 12 When planning, we take into account key considerations and leading practices in our strategy development process Phase 1: Analysis Phase 2: Design Phase 3: Alignment & Execution Plan with the end in mind 3,4 Refine and measure 3.3 Execute plan 3.2 Measurement and status reporting 3.1 Develop implementation plan Develop plan to implement all action plans Prioritize individual action items Create governance structure Determine methods by which to measure success Develop standardized reporting status method Communicate out to stakeholders Execute implementation plan Analyze implementation, action plans Understand strengths and weaknesses to implementation Refine and improve planning process for future Slide 13 Vision Statements Does it provide all constituencies with a clear sense of what the leadership wants the organization to become? Does it represent challenging, yet realistic outcomes? Does it communicate its essential message directly and succinctly? Is it energizing and/or inspiring? Through all of our products, services and relationships, we will add to life's enjoyment. Anheuser-Busch Global diversification is a vital component of the Company's strategic positioning. This diversification is unique in the athletic footwear and apparel industry and provides many distinct advantages. Foot Locker Slide 14 Mission Statements Does it clearly define the organization? Is it clear and understandable? Is it brief enough for most to remember and communicate it easily? Is it broad enough to allow flexibility, but not so broad as to lose focus? Is it a unifying force providing direction and guidance? To refresh the world in body, mind and spirit. To inspire moments of optimism through our brands and our actions. To create value and make a difference everywhere we engage. - Coca-Cola To make people happy. Walt Disney Slide 15 Evaluating Internal & External Factors Strengths What is the organization good at ? What operations are efficient? What external feedback has been positive? Where have resources been saved/reduced? Opportunities How can the organization grow? What are common practices? Where can improvements be made? Threats Are expectations changing? Is demand for services reduced? Are operating cost increasing? Is their competition? Weaknesses Where have cost increased? Where have efficiencies not been realized? Where have expectations not been met? What has caused a membership outcry? Strengths Weaknesses Opportunities - Threats Slide 16 Goal Setting Achieve What is it we want and dont have? Preserve What is it we have and want to keep? Avoid What is it we dont have and dont want? Eliminate What is it we have and dont want? http://www.youtube.com/watch?v=uThBb3kGf4k&feature=related Slide 17 Setting SMART Goals and Measures Specific Measurable Actionable Responsible Timeframe Write a sample goal (s) for your organization Slide 18 Goal Description Action Tangible Sub-Action Tangible Sub-Action GoalActionResponsibleSupportDeliverableComments Timing Identify Resource DeadlineOutcomeComments Identify Resource DeadlineOutcomeComments Identify Resource DeadlineOutcomeComments Tangible Sub-Action Developing Action Plans to execute on strategic goals and measures Action Plans provide a framework for execution when driving towards a goal Goals provide a description of the overall task at hand. Actions and sub- actions provide tangible deliverables through which goals can be obtained Responsibility and Support give governance to deliverables in order to manage success Timing represents duration and provides goals and milestones to reach towards Deliverables define the outcome of each tangible deliverable Slide 19 Taking Action Plans further Developing Roadmaps 1Q122Q123Q124Q12Feb 12 Establish interim board and implementation committees Business Plan: Revenue and Incubation Funding Hire and train Executive Director 4-5 Months 3-4 Months Approach potential board members for positions Crystallize business plan Develop phase 1 & 2 implementation committees Approach selected incubation centers Finalize deal for interim incubation Define Revenue streams for sustainment Approach potential investors Obtain funding for Phase 1 implementation Obtain funding for Phase 2 and ongoing operations Develop Assessment and Selection strategy and plan Recruit/interview/hire Executive Director Begin Executive Director shadowing/training Illustrative Only Roadmaps provide timelines and a visual explanation of individual project items,