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Designing a Competitive Business Model and Building a Solid Strategic Plan. Intellectual Capital. Human Capital Structural Capital Customer Capital. Strategic Management.

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Presentation Transcript
intellectual capital
Intellectual Capital
  • Human Capital
  • Structural Capital
  • Customer Capital
strategic management
Strategic Management

Developing a game plan to guide a company as it strives to accomplish its vision, mission, goals, and objectives and to keep it from straying off its desired course.

building a competitive advantage
Building a Competitive Advantage

Competitive advantage

the aggregation of factors that sets a small business apart from its competitors and gives it a unique position in the market that is superior to its competition.

building sustainable competitive advantage
Building Sustainable Competitive Advantage

Capabilities

Superior value

for customers

Lessons learned

Core

Competencies

Sustainable

competitive advantage

Skills

developing a strategic plan
Developing a Strategic Plan
  • Use a short planning horizon-2 yrs or less
  • Be informal, use shirtsleeve approach
  • Encourage participation of others
  • Do not begin with setting objectives
  • Maintain flexibility-conditions change too fast
  • Focus on strategic thinking, not planning
  • Planning will be an ongoing process
the strategic management process
The Strategic Management Process
  • Develop a clear vision-translate into mission
  • Assess companies’ strengths and weaknesses
  • Scan the environment-opportunities and threats
  • Identify key factors for success
  • Analyze competition
  • Create company goals and objectives
  • Formulate strategic options and select
  • Translate strategic plans into action plans
  • Establish controls
vision statement
Vision Statement

The result of an entrepreneur’s dream of something that does not exist yet and the ability to paint a compelling picture of that dream for everyone else to see

  • Provides direction
  • Determines decisions
  • Motivates people
mission statement
Mission Statement

What business are we in?

  • What are we in business to accomplish?
  • How are we going to accomplish that purpose?
  • What principles and beliefs form the foundation of the way we do business?
strengths and weaknesses
Strengths and Weaknesses
  • Strengths-positive internal factors that a company can use to accomplish its mission, goals and objectives
  • Weaknesses-negative factors that inhibit the accomplishment of a company’s mission, goals, and objectives
opportunities and threats
Opportunities and Threats
  • Opportunities-positive external options that a firm can expect to exploit to accomplish its mission, goals, and objectives
  • Threats-negative external forces that inhibit a company’s ability to achieve its mission, goals, and objectives
key success factors
Key Success Factors

The factors that determine a company’s ability to compete successfully in an industry

analyze the competition
Analyze the Competition
  • Competitive intelligence
  • Competitor analysis
  • Competitive profile matrix
  • Knowledge management-the practice of gathering, organizing, and disseminating the collective wisdom and experience of a company’s employees for the purpose of strengthening competitive position
create company goals and objectives
Create Company Goals and Objectives
  • Goals-the broad, long-range attributes a business seeks to accomplish, tend to be general and sometimes abstract
  • Objectives-more specific targets of performance, commonly addressing areas such as profitability, productivity, growth, and other key aspects of business
smart goals
SMART Goals
  • Specific
  • Measurable
  • Assignable
  • Realistic
  • Timely
formulate strategic options select strategies
Formulate Strategic Options/Select Strategies

Strategy-a roadmap of the actions an entrepreneur draws up to fulfill a

company’s mission, goals, and objectives

  • Cost leadership
  • Differentiation
  • Focus
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Cost leadership-a strategy in which a company strives to be the lowest-cost producer relative to its competitors in the industry
  • Differentiation-a strategy in which a company seeks to build customer loyalty by positioning its goods and services in a unique or different fashion
  • Focus-a strategy in which a company selects one or more market segments, identifies customers’ needs, wants, and interests, and approaches them with a good or service designed to excel in meeting those needs, wants and interests
translate strategic plans into action plans
Translate Strategic Plans into Action Plans
  • Divide into projects
  • Assign priorities to them
  • Implement top priority projects
establish controls
Establish Controls

Balanced scorecard-a set of multidimensional measurements that are unique to a company and that incorporate both financial and operational measures to give managers a quick yet comprehensive picture of a company’s overall performance

balanced scorecard
Balanced Scorecard
  • Customer perspective-How do customers see us?
  • Internal perspective-At what must we excel?
  • Innovation perspective-Can we continue to improve and create value?
  • Financial perspective-How do we look to shareholders?