mike.jones@walescooperative.org

2. mike.jones@walescooperative.org

3. Who Are We? • Set up in 1982, offices across Wales, 50+members of staff • Delivering projects on behalf of Welsh Government and the European Union • Our vision: For Wales to be the international leader for co-operative thinking and action • Our mission: To develop sustainable businesses and strong, inclusive communities by working co-operatively

4. Three key areas of work • Enterprise Support Free support to set up and run co-operatives and social enterprises, including employee buy-outs, community based co-ops and co-operative consortia. Business consultancy service provides paid-for support. • Digital Inclusion Helping enterprises, community groups and voluntary organisations become more competitive and take advantage of information, services and opportunities online. • Financial Inclusion Advising public sector organisations on how to help people avoid financial problems, and supporting credit unions in their mission to provide affordable, secure financial services to all parts of our community.

5. Business Strategy What is a business strategy? “the direction and scope of an organisation over the long-term” (Johnson and Scholes - Exploring Corporate Strategy)

6. Business Strategy What goes into a business’ Strategic Framework? • Vision • Mission • Values • Aims • Objectives

7. Group Activity

8. Vision Describes a picture of the company's future and the direction it is headed. It should answer the following questions: • What will the business look like in 3 to 5 years from now • What things you are going to try and achieve • What customer needs you are going to address

9. Example of a Vision Statement(1) “to become the world's leading consumer company for automotive products and services” (Ford Motor Company)

10. Example of a Vision Statement(2) “to be the world's most customer-centric company, where customers can find and discover anything they may want to buy online at a great price” (AMAZON.COM)

11. Example of a Vision Statement(3) “To make, distribute and sell the finest quality all natural ice cream and euphoric concoctions with a continued commitment to incorporating wholesome, natural ingredients and promoting business practices that respect the earth and the environment” (Ben and Jerry's)

12. Example of a Vision Statement(4) "to be one of the world's leading producers and providers of entertainment and information, using its portfolio of brands to differentiate its content, services and consumer products” (Walt Disney)

13. Mission What is a Mission Statement? “a statement of company's, team's or organisation's purpose describing what business the company is in and the customer needs it is trying to meet”

14. Example of a Mission Statement(1) “To enrich people's lives with programmes and services that inform, educate and entertain” (BBC) Compare with the BBC's vision statement "To be the most creative organisation in the world."

15. Example of a Mission Statement(2) "To grow a profitable airline...Where people love to fly...And where people love to work." "Safety, security and consistent delivery of the basics are the foundation of everything we do." (Virgin Airlines)

16. Example of a Mission Statement(3) "To inspire and nurture the human spirit - One person, One cup, and One Neighbourhood at a time“ (Starbucks)

17. Example of a Mission Statement(4) "To give ordinary folk the chance to buy the same thing as rich people.“ (Wal-Mart)

18. Values What are Values? “principles that guide an organisation's internal conduct as well as its relationship with the external world”

19. Examples (Handout)

20. Aims A number of statements of purpose to achieve the Mission e.g. we want to grow the business into Europe

21. Aims Aims need to address: • Financial - satisfying owners, employees, suppliers, funders….. • Market - satisfying clients & customers • Internal Business Processes - appropriate and well operated. • Learning, Innovation and Growth - ability to change, improve and innovate

22. Objectives Effective Objectives meet the Aims and ideal contain the following criteria: • S – Specific e.g. a hotel might have an objective of filling 60% of its beds a night during October. • M - Measurable e.g. £10,000 in sales in the next half year of trading. • A - Agreed by all those concerned in trying to achieve the objective. • R - Realistic should be challenging but attainable. • T- Time specific e.g. by the end of the year.

23. Research & Analysis • PESTEL • SWOT • Publications • Experience (Historic) • Stakeholder Consultation • Other

24. Legal Structures Diolch yn Fawr!! Thank you! Any questions?