GAHZLY

Abstract The strategic planning process can take many paths. It can require months of preparatory analysis or simply use the collective knowledge of the management team. Either method requires that the company make decisions on its future course. In this paper we will show how to use Strategic Filters as a way to sift through the data and make the best decisions. Then, we will focus these decisions into a few Wildly Important Goals (WIGs) that will be resourced and completed. Strategic Planning: Strategic Filters & Wildly Important Goals Driving Force Filter – The Competitive Advantage you can Prove Emerging Trend Filter Customer Filter Wildly Important Goals Strategy Map Driving Force Filter The driving force is the key differentiator or competitive advantage of the company. The most important element of the driving force is the proof. If you want your employees and your customers to believe it, then you must find the data that backs up your claim. Here is a list of things t...

Nobody can deny that 2020 was the year that struck a lightening bolt that’s still reaping its energy in every part of our lives. The ripple effect of the COVID 19 pandemic will permeate throughout our lives in the years to come. One of its greatest effects has been to force us to consider and construct new pathways into the future. Add to this, the effects of human behaviours on climate, and the relentless march of new technology, and 2020 has been a wake up call to the massive changes around the corner. Many of the organisations we work with have pandemic, climate change and technology advances somewhere in their strategic and risk plans, but until the last year haven’t truly considered the real impact of these events. Others just haven’t considered some or all of these game changers. 2020 brought us the opportunity to observe, learn and lead in a changed and unknown landscape. It’s not simply about a new ‘COVID normal”. COVID is just one catalyst fo...

You all know the saying that any road will do as long as you don’t know where you are going. And it is certainly true when it comes to achieving company goals. If you don’t have stated goals, have them written down, well communicated, and measured, there is a very high probability you’ll never achieve them. Thus, the importance of having a quantifiable, measurable, well-communicated strategic plan. Roadmap Strategic planning is like creating a map for an exciting journey. A map helps keep you on course, but it isn’t so stringent that you can’t check out a side road along the way. Each year in the fall I map out where I am, where I want to go, and how I want to get there. During the year, my plan then becomes my guide as I make business decisions and come upon new opportunities. It helps me decide if new opportunities and the choices I encounter will get me closer to my goals or are detours to be avoided. It is critical to at least annually review your plan ...

In developed market economics, well-managed businesses are expected to all have a strategic plan; whereas, in the Czech Republic (country in the middle of Europe with exciting history as well called as ‘heart of Europe’; capital Prague; population 10.5 million; area 78,864 sq km) and the rest of the post-communist countries, having such management tools in place is all too frequently overlooked and missing. Unfortunately, the above statement about management practices in the Czech Republic is an objective description of the current state of affairs. Times are changing however and the days when running a profitable business was a relatively simple task are long gone. This change had to come some day; but, with the arrival of the current economic crisis, this change has come about more quickly than many could have expected. Thus, the existing management and business planning practices of most Czech businesses are facing a major test. For those businesses that have entered this...

Panera Bread has an opportunity for growth within a challenging industry in two key areas – increased sales of specialty drinks and opening international locations – that will enable the company to spread its mission of fresh bread for everyone while increasing the bottom line for shareholders. By utilizing many frameworks for thought and projecting the estimated financials of the company, we are able to empirically show that these two strategies will be beneficial to the customer. Utilize Historically High Margins on Specialty Drinks to Drive Bottom Line Growth While Panera’s core business revolves around fresh bread, the style of the locations suggests that there is substantial revenue in selling coffee and related drinks, similar to Starbucks. Looking at the coffee market, estimated real growth is 2.7% or roughly 5.7% given a 3% inflation rate while the number of establishments, the actual coffee shops, is expected to grow only 1.6%, meaning that each shop on averag...

Reviewing your business performance is a must and definitely a great requirement. This is a sign that you are really giving the attention that your business needs. Aside from that, this also means that you are well aware of how your company works and you are willing to bring your efforts to a much higher level. There are many ways to evaluate your business performance and one of them is to select the right kind of method for strategic analysis for your organization. Strategic planning or analysis is when you plan for the future. You review what you have today and you can make a forecast about what will happen in the coming years. One method for strategic analysis is the SWOT analysis. This stands for strengths, weaknesses, opportunities and threats in your business and this is often used by many companies nowadays. This is where you will need to look into those four aspects and then later on, you will be able to identify what you need to do in order to maintain or enhance your business...

It’s early in the ’09 baseball season and every team has already scoped out the other teams and every player they’ll face.  Can you say the same about your business or your marketing plan? When you need a quick snapshot of your strategic marketing plans that explores your business’ performance, the competitive climate, emerging market trends, and impending obstacles, try a quick SWOT – Strengths, Weaknesses, Opportunities and Threats analysis. Take a good SWOT at your marketing plan and you could just hit it out of the park. Whether you do this on your own or with a team, taking a SWOT at your marketing plan helps you find ways to minimize the weaknesses while maximizing the strengths. Match the strengths against market opportunities that can result from your competitors’ weaknesses or shortcomings. And remember, when you are taking your SWOT, there are no dumb ideas or thoughts. Sometimes a seemingly inconsequential comment can spark a great opp...

This TQM article provides an insight of a typical Strategic Planning Process that was used in several organizations and proven to be very practical in implementation. the key processes of this typical Strategic Planning Process are lined up into 7 steps. Detail of each steps are illustrated below:- Step 1 – Review or develop Vision & Mission Able to obtain first hand information from various stakeholders (Shareholders, customers, employee, suppliers communities etc). You may use templates to evaluate how the stakeholders think about your organization. To find out whether their action are aligned with the organization’s objectives. To review or develop company’s Vision and Mission with the involvement of other stakeholders to ensure it is still current with the business changes and new challenges. Also use this session as a mean for communication. Step 2 – Business and operation analysis (SWOT Analysis etc) One of the key consideration of strategic planning is...

As with any business, you must have a solid business plan. Do not think that you can start a franchise without a good plan. The plan is a roadmap to how you will operate, how you will reach new franchisees, how you will market your business and must have solid financials. A mistake of a single percentage point on a franchise royalty can easily cost you millions of dollars. It does not seem like a big mistake, when you have a single franchisee. It simply means that the franchisor will make $5,000 less in royalty revenues. But in franchising, we are talking about continuing growth, and this mistake might be multiplied 100 times or more. Other business decisions that a new franchisor will make that could impact long-term profitability include: • Advertising fees • Technology fees • Product margins • Type of franchise offered (individual, area development, area representative, etc.) • Organizational structure • Compensation structure • Geographic growth st...

Strategic planning is a coordinated and systematic process for developing a plan for the overall direction of an organization and the allocation of resources to optimize future potential. Many businesses start out with only an idea and a desire to succeed. Sometimes it works; more often, it does not. According to the US Small Business Administration (SBA), the main reasons businesses fail are the lack of a solid plan and the lack of adequate capital. These two reasons are not unrelated, especially in tight economic times. After all, if you don’t invest in a good plan for your business, why would you expect someone else to invest in your business? Strategic and business planning is not just a box to check on your to-do list. Strategic planning is the foundation for everything: your business identity, your marketing and sales, your operations, your management approach, and your funding. However, excuses abound for not doing it. Even well established businesses need to stand out from...

What is a Business Plan? Most people assume you only have to write a business plan if you are going to seek capital from a bank or other lending institution. This is not always the case. Most plans are driven by market needs and aims. The importance of having a business plan is to ensure your business remains on target for goals and objectives set for that financial year and for the future. There is no real difference between a business plan and a ‘strategic business plan’. You could say that every plan is a strategic one. Most plans are driven by marketing, since you have to look outwards at the market, the market place, products and services before being able to look inwards at the company and finances. Part of the business plan will include a marketing strategy, looking at how you will achieve growth, where to market and who to market to. Many people look at marketing as ‘selling’ but it is more than that. It’s about ‘branding’, image and bui...