Developing A Strategic Business Plan
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«is the manageria pr ess deve ping and maintaining a strategi it etween the rganizati n's etives and res res and its hanging market pp rtnities.
Strategi Fit
0he R e Strategy
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misi n and Strategy
Sun Tze n Strategy
Strategi Marketing
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} rp rate Missi n Br ad prp ses the rganizati n Genera riteria r assessing the ng-term rganizati na eetiveness Driven y heritage & envir nment Missi n statements are inreasingy eing deve ped at the SBU eve as we
ampes } rp rate Missi n SINGAPOR AIRLINS is engaged in air transp rtati n and reated sinesses. It perates w rd-wide as the ag arrier the Repi Singap re, aiming t pr vide servies the highest qaity at reas nae pries r st mers and a pr it r the mpany
ampes } rp rate Missi n ( nt¶d) nt¶d) MARRIO00¶S Missi n Statement: We are mmitted t eing the est dging and d servie mpany in the w rd, y treating emp yees in ways that reate etra rdinary st mer servie and shareh der vae
} rp rate }tre 0he m st astrat eve manageria thinking ¬ d y u define culture? What is the significance f culture t an rganizati n? ¬ d es marketing affect culture in the rganizati n?
} rp rate Oetives & G as
An etive is a ng-range prp se ñ N t qantiied and n t imited t a time peri d ñ .g. inreasing the retrn n shareh ders¶ eqity
A g a is a measrae etive the siness ñ Attainae at s me speii tre date thr gh panned ati ns ñ .g. 10% gr wth in the net tw years
Strategi panning
S0RA0GI} PLAN DmLOPMN0 ' ' $ '$ ' !
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What are the ma r hanges in indstry dynamis and resting pp rtnities and risks?
What are y r mpetitive strengths and weaknesses?
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What strategy wi y prse ver the net 3 years?
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What wi e the impat ma r strategi initiatives?
) H w d es y r rrent siness emphasis it with indstry pp rtnity and mpetitive ) andsape? *+ , #
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What are the epeted inania retrns y r strategy?
What strategi aternatives have y nsidered?
0 su su usi ss usi ss i i r r i r r misi Missi O tiv s Str t i s 0 tis s
tr t i i ± s
ub
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Framew rk a Sess Organisati n
Bsiness Panning and Deivery Strategi Pan New In rmati n Feed Bak
Bsiness Pan
Regi na r Indstry Saes Pan
Saes & Marketing Pan State Saes Pans
misi n is a }ritia Driver
0 seed in the ng term, r siness needs a visi n h w we wi hange and impr ve in the tre.
³with t a visi n, the pe pe perish´
0he visi n the siness gives its energy. ñ It heps m tivate s. ñ It heps set the direti n rp rate and marketing strategy.
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maes nderpin a we d ( ( ' ( / $0
maes pr vide the stiiati n ehavi r and, there re, eert signiiant inene n marketing deisi ns.
An eampe is pr vided y B0 Gr p - deining its vaes:
B0's ativities are nderpinned y a set vaes that a B0 pe pe are asked t respet: ñ
We pt st mers irst
ñ
We are pr essi na
ñ
We respet eah ther
ñ
We w rk as ne team
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We are mmitted t ntin s impr vement.
0hese are spp rted y r visi n a mmniati ns-rih w rd - a w rd in whih every ne an eneit r m the p wer mmniati n skis and tehn gy.
A s iety in whih individas, rganisati ns and mmnities have nimited aess t ne an ther and t a w rd kn wedge, via a mtipiity mmniati ns tehn gies inding v ie, data, m ie, internet - regardess nati naity, tre, ass r edati n.
Or is t aiitate eetive mmniati n, irrespetive ge graphy, distane, time r mpeity. S re: B0 Gr p p wesite
s t Co ot stro C r issio " ! # * ! It pr vides an tine h w the marketing pan sh d seek t i the missi n It pr vides a means evaating and sreening the marketing pan; are marketing deisi ns nsistent with the missi n? It pr vides an inentive t impement the marketing pan
² ² ± t busi ss ists
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± at ma ag m t b i v s i
1# ²± at busi ss ar i a o ?
# ± t ru s tat gui o rat o
¥Strategy is the Ð and an rganisati n ver the whih ahieves Ð r the rganisati n thr gh its nigrati n within a haenging , t meet the needs and t i Ð epetati ns¥.
Strategi Adit - ensring that the } mpany res res and mpetenies are nderst d and evaated Res re Adit
mae }hain Anaysis
} re } mpetene Anaysis
Per rmane Anaysis
P rt i Anaysis
SWO0 / PS0 Anaysis
to ork iti Co sour s Co str i ts & isti g Fu s Fu s $
Proutio M rk ti g S s D 0 i I or tio 0 oog
isti g St Futur St quir ts 0r i i g D v o t Gooi ut tio Br s I t tu Pro rt
bj ti s - Coror t u tio u tio m s might i ud :
Coror t 0h s r obj ti s th t o r th busi ss or org is tio s who
W im or r tur o i stm t o t st 15% W im to hi o r ti g roit o o r $10 miio o s s o t st $100 miio W im to i r s r i gs r sh r by t st 10% ry y r or th or s b utur
m s might i ud :
u tio S ii obj ti s or s s m rk ti g tiiti s
W im to buid ustom r d t b s o t st 250,000 hous hods withi th t 12 mo ths W im to hi m rk t sh r o 10% W im to hi 75% ustom r w r ss o our br d i our t rg t m rk ts W im to s $2m o yz rodut i to ABC m rk t o r th t 6 mo ths
mae }hain Anaysis
mae }hain Anaysis desries the ativities that take pae in a siness and reates them t an anaysis the mpetitive strength the siness. Mihae P rter sggested that the ativities a siness d e gr ped nder tw headings: 0 20
$ - th se that are direty nerned with reating and deivering a pr dt (e.g. mp nent assemy); and
!! , whih whist they are n t direty inv ved in pr dti n, may inrease eetiveness r eiieny (e.g. hman res re management). It is rare r a siness t ndertake a primary and spp rt ativities.
mae }hain Anaysis is ne way identiying whih ativities are est ndertaken y r siness and whih are est pr vided y thers (¥ ts red¥).
* $ ! ' What ativities a siness ndertakes is direty inked t ahieving mpetitive advantage. F r eampe, i we wish t tper rm r mpetit rs thr gh '(( rseves thr gh higher qaity then we wi have t per rm r vae hain ativities etter than the pp siti n. Bt i we ad pt a strategy ased n seeking ' ! this wi reqire a redti n in the sts ass iated with the vae hain ativities, r a redti n in the t ta am nt res res sed.
mae }hain '( (/ "* '(
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Primary Ativities Primary vae hain ativities inde: ²
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Spp rt Ativities S
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Steps in a mae }hain Anaysis Break d wn a market / rganisati n int its key ativities
Assess the p tentia r adding vae via st advantage r dierentiati n, r identiy rrent ativities where a siness appears t e at a mpetitive disadvantage;
Determine strategies it ar nd sing n ativities where mpetitive advantage an e sstained
} re mpetenies
} re mpetenies are th se apaiities that are ritia t a siness ahieving mpetitive advantage.
0he starting p int r anaysing re mpetenies is re gnising that mpetiti n etween sinesses is as mh a rae r mpetene mastery as it is r market p siti n and market p wer.
Seni r management ann t s n a ativities a siness and the mpetenies reqired t ndertake them.
S the g a is r management t s attenti n n mpetenies that reay aet mpetitive advantage.
} re } mpetenies are n t seen as eing ied. } re } mpetenies sh d hange in resp nse t hanges in the mpany's envir nment. 0hey are eie and ev ve ver time. As a siness ev ves and adapts t new irmstanes and pp rtnities, s its } re } mpetenies wi have t adapt and hange.
We need t nderstand what we are g d and what makes s etter and t h ne these advantages and t deve p new nes t nderpin the siness strategy
Identiying } re } mpetenies Prahaad and Hame sggest three at rs t hep identiy re mpetenies in any siness:
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What is } mpetitive Advantage?
mpetitive advantage is a c mpany¶s ability t perf rm in ne r m re ays that c mpetit rs cann t r ill n t match.´ ²
f y u d n¶t have a c mpetitive advantage, d n¶t c mpete.´ "
F r Generi Strategies wer
st
ifferentiati n
Br a 0arget
S
st ea ers i
ifferentiati n
e st F s
Narr w 0arget
ifferentiati n F s
Other }harateristis } mpetitive Advantage
Sstantiaity ñ Is it sstantia en gh t make a dierene?
Sstainaiity ñ }an it e netraized y mpetit rs qiky?
Aiity t e everaged int visie siness attrites that wi inene st mers
nS urce: Strategic Marketing Management, Aakers)
Seeking } mpetitive Advantages
P siti ns advantage ñ Speri r st mer vae ñ L wer reative t ta st
Per rmane advantages ñ }st mer satisati n, L yaty, Market Share, Pr it
S res advantages ñ Speri r skis & kn wedge, Speri r res res, Speri r siness pr ess
WHR 0O }OMP0? ' Whih st mers are y trying t target r attrat? Whih are y wiing t serve, t wi n t spend res res t attrat? Whih w d y preer n t t serve?
! ! ( Ge graphi imits t the siness? L a, regi na, mti a, nati na, internati na, r g a payer? I a, whih aities?
! *
3 ' $ Whih distriti n hannes wi y se? What st mer segments an they reah?
'
4 $'' ( ! ' Breadth the pr dt ine? Qaity the pr dt ine? Pr dt ndes r a series nreated pr dts?
}apaiity pat rm: assessment s res mpetitive advantage (1/2) - !
Privieged assets
$ ! ' ' ' $
Distintive mpetenies
Physia asset
BHP¶s w- st mines
L ati n/¥spae¥
0ee mm/media mpany with rights radi spetrm
Distriti n/saes netw rk
Av n¶s representatives
Brand/reptati n
} a-} a
Patent
Pharmaetia mpany with a ¥w nder drg´
Reati nship with ¥iense¥ a at r
¥Fav red nati n¥ stats with a key minister in ieraizing e n my
Inn vati n
3M with new pr dts
}r ss-nti na rdinati n
MD nad¶s with QS}&m J&J with randed nsmer heath pr dts
Market p siti ning } st/eiieny management
mers n etri¶s Best } st Pr der pr gram P&G rand management pr gram
0aent deve pment
tremey reevant
}apaiity pat rm: assessment s res mpetitive advantage (2/2)
S mewhat reevant Irreevant
Physia asset L ati n/¥spae¥ Privieged assets
Distriti n/saes netw rk Brand/reptati n
$ ! ' ' ' $
Patent Reati nship with ¥iense¥ a at r Inn vati n
Distintive mpetenies
}r ss-nti na rdinati n Market p siti ning } st/eiieny management 0aent deve pment
!% nsre that these are the apaiities reqired t seed in the indstry. Use this ist as a th ght starter, add and deete as y see appr priate
!2% Assess y r vera p siti n reative t the apaiities reqired t seed in the indstry. As , determine i these apaiities are reevant t the segments y serve
} mpetit r apaiity mparis n
! Physia asset
L ati n/¥spae¥ Privieged assets
Distriti n/saes netw rk
Brand/reptati n !
Patent Reati nship with ¥iense¥ a at r Inn vati n
Distintive mpetenies
}r ss-nti na rdinati n Market p siti ning } st/eiieny management 0aent deve pment
!5% } mpare the strengths and weaknesses y r mpetitive p siti n vs. the neessary skis
²ort r¶s or s o Co titi ²ositio i r "*
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P rter 5 F res
P rter¶s 5 F res } mpetitive P siti n versi n #2
² rter¶s ² siti n
res } mpetitive ntry Barriers c n mies f Scale Brand dentity apital Requirements
Determinants f Supplier P er
Sitching sts Supplier V lume mpact F rard ntegrati n
New ntrants
Indstry } mpetit rs
Sppiers Intensity Rivary
Byers Determinants f Buyer P er
Buyer ncentrati n Buyer V lume Backard ntegrati n
Determinants f Substituti n Threat
Relative Price Perf rmance Sitching sts
Rivalry Determinants ndustry Gr th Fixed sts Pr duct Differences Brand dentity xit Barriers
Sstittes
F res at w rk ramew rk 0 ( . iere tiati i uts witi sts suiers a irms i te i ustr ²rese e substitute i uts uier e trati Im rta e ume t suier C st reatie t t ta urases i te i ustr Imat i uts st r iere tiati 0reat rwar i te rati reatie t treat bakwar i te rati b irms i te i ustr
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60 $' I ustr r wt Fie ( r st ra e) st/aue ae I termitte t eraait ²r ut iere es Bra ie tit witi sts C e trati a baa e I rmati a meit iersit metit rs C r rate stakes it barriers
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$ mies sae ²r rietar r ut iere es Bra ie tit witi sts Caita requireme ts Aess t istributi Abs ute st aa ta es ²r rietar ear i ure Aess t eessar i uts ²r rietar , w- st r ut esi G er me t i ete retaiati
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0 ( Reatie rie er rma e substitutes witi sts Bu er r e sit t substitute
50 ($ .
Bu er e trati s. irm e trati Bu er ume Bu er switi sts reatie t irm switi sts Bu er i rmati Abiit t bakwar i te rate ubstitute r uts ²u-tr u
$ ²rie/t ta urases ²r ut iere es Bra Ie tit Imat quait ereti Bu er r its eisi makers' i e ties
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Strategi Panning Link with Marketing Panning
Bsinesses that seed d s y reating and keeping st mers.
0hey d this y pr viding etter vae r the st mer than the mpetiti n.
Marketing management nstanty have t assess whih st mers they are trying t reah and h w they an design pr dts and servies that pr vide etter vae (³ mpetitive advantage´).
0he main pr em with this pr ess is that the ³envir nment´ in whih sinesses perate is nstanty hanging.
S a siness mst adapt t reet hanges in the envir nment and make deisi ns a t h w t hange the marketing mi in rder t seed.
0his pr ess adapting and deisi n-making is kn wn as marketing panning.
Strategi Pan
Bsiness Pan
Marketing Pan
Saes Pan
State Pan
Regi na Pan
Indstry Pan
Key A nt Pan
Strategi vs. Marketing Pans
Strategi panning is nerned a t the vera direti n the siness. ñ It is nerned with marketing, rse. ñ Bt it as inv ves deisi n-making a t pr dti n and perati ns, inane, hman res re management and ther siness isses.
0 Ð Ð ÐÐ Ð
Marketing has a key r e t pay in strategi panning, ease it is the marketing management t nderstand and manage the inks etween the siness and the ³envir nment´. S metimes this is qite a straight rward task. ñ F r eampe, in many sma sinesses there is ny ne ge graphia market and a imited nmer pr dts (perhaps ny ne pr dt!). ñ H wever, nsider the haenge aed y marketing management in a mtinati na siness, with hndreds siness nits ated ar nd the g e, pr ding a wide range pr dts. ñ Keeping ntr marketing deisi n-making in sh a mpe sitati n as r we- rganised marketing panning.
Key isses in strategi and marketing panning?
0he wing qesti ns are key in the marketing and strategi panning pr ess: ñ ñ ñ ñ ñ ñ
Where are we n w? H w did we get there? Where are we heading? Where w d we ike t e? H w d we get there? Are we n rse?
A marketing pan heps t : ñ 0he aiity a siness t ahieve pr itae saes is impated y d zens envir nmenta at rs, many whih are inter- nneted ñ Identiy s res mpetitive advantage ñ Gain mmitment t a strategy ñ Get res res needed t invest in and id the siness ñ In rm stakeh ders in the siness ñ Set etives and strategies ñ Measre per rmane
Sitati n Anaysis
Interna Anaysis² mpany; apaiity et. terna Anaysis²st mers, market
SWO0 Anaysis ñ trengths, 7eaknesses, pp rtnities & 0hreats
deiniti n, indstry strtre
ñ Identiy & pri ritize ma r pr ems and pp rtnities: seeti n key isses
Based n the irm¶s re mpetenies, deide n tre pti ns
SWO0 Interna nvir nment Strengths
Weaknesses
W rd ass pr dt Finania res res Kn w-h w
0ehnia spp rt Interna pr esses }hannes netw rk terna nvir nment
Opp rtnities Water & nergy rises nvir nment awareness Pr dtivity impr vement
0hreats } mpetit rs market share r X D ar 0ehn gy deve pment
0 I I !! +
8 3
3
1
H w are demand and sppy epeted t ev ve? H w d y epet the indstry hain e n mis t ev ve? hat are the p tentia ma r indstry dis ntinities? hat mpetit r ati ns d y epet?
+ 7*
hat are y r BU¶s assets/ mpetenies that s idiy y r mpetitive p siti n? hat are y r BU¶s assets/ mpetenies that weaken y r mpetitive p siti n? }an e sed as a th ght starter r mpetitive anaysis and interna assessment
7 9,
raes p tentia pp rtnities/threats arising r m at rs eterna t the siness
SWO0 Anaysis is sti a se 0
0OWS matri Strengths
Weaknesses
Opp rtnities
S-O strategies
W-O strategies
0hreats
S-0 strategies
W-0 strategies
, prse pp rtnities that are a g d it t the mpanies strengths. 7, ver me weaknesses t prse pp rtnities.
, identiy ways that the irm an se its strengths t rede its vneraiity t eterna threats. 7, estaish a deensive pan t prevent the irm's weaknesses r m making it highy sseptie t eterna threats.
PS0 anaysis
A san the eterna mar envir nment in whih the mpany wants t perate ( r perates) and an e epressed in terms the wing at rs: ñ ñ ñ ñ
itia n mi
ia ehn gia
' S½ ²
%
$ % $ & $
' ' $ $ $ ! ' $
%
& & ( $
& & &
7 A $ m st mm ny measres a *; a
7 $ measres a :! ! '. Generay speaking a SWO0 anaysis measres a siness nit r pr p siti n, whereas a PS0 anaysis measres the market p tentia and sitati n, partiary indiating gr wth r deine, and therey market attrativeness, siness p tentia, and sitaiity aess - market p tentia and 'it' in ther w rds. PS0 anaysis ses r perspetives, whih give a gia strtre, in this ase rganized y the PS0 rmat, that heps nderstanding, presentati n, disssi n and deisi nmaking. PS0 anaysis an e sed r marketing and siness deve pment assessment and deisi n-making, and the PS0 tempate en rages pr ative thinking, rather than reying n haita r instintive reati ns.
trutur trutur --o ut o ut-- ror (C²) o ' $
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0ehn gy reakthr ghs }hanges in g vernment p iy/regati ns D mesti Internati na
(' ' Avaiaiity sstittes Dierentiaiity pr dts Rate gr wth m atiity/yiaity ( !!$ } nentrati n pr ders Imp rt mpetiti n Diversity pr ders Fied/variae st strtre }apaity tiizati n ntry/eit arriers ' $ Bargaining p wer inpt sppiers Bargaining p wer st mers
"* Priing m me Advertising/pr m ti n New pr dts/R&D Distriti n
!$ pansi n/ ntrati n ntry/eit Aqisiti n/merger/ divestitre F rward/akward integrati n mertia int ventres L ng-term ntrats (($ } st ntr L gistis Pr ess R&D Organizati n eetiveness
& Pr itaiity mae reati n ! ! $
Deiniti n risks (
*
$ *
$ *
$ *
" *
Risk ss de t hanges in indstry and mpetitive envir nment, as we as shits in st mer preerenes
Risk de t hanges in regat ry envir nment (e.g. deregati n)
Risk de t ma r hanges in tehn gy Risk aires de t siness pr esses and perati ns r pe pe¶s ehavi r, either intenti na (e.g. rad) r nintenti na (e.g. err rs)
Risk ss de t hanges in the p itia, s ia, r e n mi envir nments
Management
Management, ntr and evaati n
Five disipines Peter Senge
" $% ñ Aspirati n inv ves rmating a herent pitre the rests pe pe m st desire t gain as individas, a ngside a reaisti assessment the rrent state their ives t day. ñ Learning t tivate the tensi n etween visi n and reaity an epand pe pe's apaity t make etter h ies, and t ahieve m re the rests that they have h sen.
"" ' : ñ Reeti n and inqiry skis is sed ar nd deve ping awareness the attitdes and perepti ns that inene th ght and interati n. ñ By ntinay reeting p n, taking a t, and re nsidering these interna pitres the w rd, pe pe an gain m re apaiity in g verning their ati ns and deisi ns.
Five disipines Peter Senge
' : ñ staishes a s n mta prp se. ñ Pe pe earn t n rish a sense mmitment in a gr p r rganizati n y deve ping shared images the tre they seek t reate, and the prinipes and giding praties y whih they h pe t get there.
: ñ Gr p interati n. ñ 0hr gh tehniqes ike dia ge and ski disssi n, teams trans rm their etive thinking, earning t m iize their energies and ati ns t ahieve mm n g as, and drawing rth an inteigene and aiity greater than the sm individa memers' taents.
Five disipines Peter Senge
$ *: ñ Pe pe earn t etter nderstand interdependeny and hange, and therey t dea m re eetivey with the res that shape the nseqenes r ati ns. ñ Systems thinking is ased p n a gr wing dy the ry a t the ehavi r eedak and mpeity - the innate tendenies a system that ead t gr wth r staiity ver time. ñ 0 hep pe pe see h w t hange systems m re eetivey and h w t at m re in tne with the arger pr esses the natra and e n mi w rd.
Pr et management - pr esses
Pr et management a pr ess
Pr et management pr ess hain
Pr et management risk anaysis
Sess Keys - Dep yment Dep yment - } mpeting the Pan Sess Faire >Assign r es and resp nsiiities
>N a ntaiity r dep yment
>staish pri rities
>0 many g as, strategies, r etives - n apparent pri rity
>Inv ve mid-eve management as ative partiipants
>Pan in a vam-nti na s
>0hink it thr gh - deide h w t manage impementati n
>N
vera strategy t impement
>}harge mid-eve management with >Make n attempt t ink with day-t -day perati ns aigning wer-eve pans >Make are h ies a t the ntents the pan and rm it wi take
>N t eing th r gh-g ssing ver the detais
Sess Keys - } mmniati n Dep yment - } mmniating Sess
Faire
Assign r es and resp nsiiities
N a ntaiity
} mmniate the pan nstanty and nsistenty
Never tak a t the pan
Re gnize the hange pr ess
Ign re the em ti na impat hange
Hep pe pe thr gh the hange pr ess
F s ny n task a mpishment
Sess Keys - Impementati n Impementing - I Sess
Faire
Assign r es and resp nsiiities
N a ntaiity
Inv ve seni r eaders
Disengagement r m pr ess
Deine an inrastrtre
Unmanaged ativity
Link g a gr ps
Fragmented a mpishment etives eads t s- ptimizati n
Phase integrati n impementati n ati ns with w rk ad
F re pe pe t h se etween impementati n and daiy w rk; t many teams
Inv ve every ne within the rganizati n
N aignment strategies
Sess Keys - Impementati n Impementing - II Sess A ate res res r impementati n
Faire F s ny n sh rt term need r res res Ign re r av id hange
Manage the hange pr ess N measrement system vaate rests Share ess ns earned; akn wedge sesses thr gh pen and reqent mmniati n
Hide mistakes/ay ame; imited/n mmniati n
Sess Keys - Measrement Strategi Measrement - I Sess Faire Assign r es and resp nsiiities
N a ntaiity
Use measrement t nderstand the rganizati n
S- ptimizati n: s ny n eiienies
Use measrement t pr vide a nsistent viewp int r m whih t gage per rmane
Use measres that pr vide n rea in rmati n n per rmane; se t many measres
Use measrement t pr vide an integrated, sed view the tre
Use measrement t s n the tt m-ine ny
Sess Keys - Measrement Strategi Measrement - II Sess
Faire
Use measrement t mmniate Use measrement t ntr p iy (new strategi direti n) Update the measrement system
Never review measres
Use measrement t pr vide qaity eedak t the strategi management pr ess
Fai t se measrement t make strategi, at-ased deisi ns; se ny r ntr
Sess Keys - vaati n vaati n Sess
Faire
Assign r es and resp nsiiities
N a ntaiity
Re gnize when t pdate the pan
P r timing and n t re gnizing eterna res
M diy strategi panning pr ess t a mm date the m re matre rganizati n
Rigid appiati n strategi panning pr ess; ign re ess ns earned r m previ s e rts Ign re impat new eaders
In rp rate new eaders int the strategi panning pr ess Integrate measrement with strategi panning
D n't se measrement in rmati n Sh rtt the pr ess
Use eperiened strategi panning aiitat rs
Best } mpanies Spend m re time n F rward Panning than Hist ria Anaysis
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Ð Ð !Ð
Beneits R ing F reasts
«is the manageria pr ess deve ping and maintaining a strategi it etween the rganizati n's etives and res res and its hanging market pp rtnities.
Strategi Fit
0he R e Strategy
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misi n and Strategy
Sun Tze n Strategy
Strategi Marketing
³
} rp rate Missi n Br ad prp ses the rganizati n Genera riteria r assessing the ng-term rganizati na eetiveness Driven y heritage & envir nment Missi n statements are inreasingy eing deve ped at the SBU eve as we
ampes } rp rate Missi n SINGAPOR AIRLINS is engaged in air transp rtati n and reated sinesses. It perates w rd-wide as the ag arrier the Repi Singap re, aiming t pr vide servies the highest qaity at reas nae pries r st mers and a pr it r the mpany
ampes } rp rate Missi n ( nt¶d) nt¶d) MARRIO00¶S Missi n Statement: We are mmitted t eing the est dging and d servie mpany in the w rd, y treating emp yees in ways that reate etra rdinary st mer servie and shareh der vae
} rp rate }tre 0he m st astrat eve manageria thinking ¬ d y u define culture? What is the significance f culture t an rganizati n? ¬ d es marketing affect culture in the rganizati n?
} rp rate Oetives & G as
An etive is a ng-range prp se ñ N t qantiied and n t imited t a time peri d ñ .g. inreasing the retrn n shareh ders¶ eqity
A g a is a measrae etive the siness ñ Attainae at s me speii tre date thr gh panned ati ns ñ .g. 10% gr wth in the net tw years
Strategi panning
S0RA0GI} PLAN DmLOPMN0 ' ' $ '$ ' !
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What are the ma r hanges in indstry dynamis and resting pp rtnities and risks?
What are y r mpetitive strengths and weaknesses?
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What strategy wi y prse ver the net 3 years?
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What wi e the impat ma r strategi initiatives?
) H w d es y r rrent siness emphasis it with indstry pp rtnity and mpetitive ) andsape? *+ , #
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What are the epeted inania retrns y r strategy?
What strategi aternatives have y nsidered?
0 su su usi ss usi ss i i r r i r r misi Missi O tiv s Str t i s 0 tis s
tr t i i ± s
ub
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Framew rk a Sess Organisati n
Bsiness Panning and Deivery Strategi Pan New In rmati n Feed Bak
Bsiness Pan
Regi na r Indstry Saes Pan
Saes & Marketing Pan State Saes Pans
misi n is a }ritia Driver
0 seed in the ng term, r siness needs a visi n h w we wi hange and impr ve in the tre.
³with t a visi n, the pe pe perish´
0he visi n the siness gives its energy. ñ It heps m tivate s. ñ It heps set the direti n rp rate and marketing strategy.
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maes nderpin a we d ( ( ' ( / $0
maes pr vide the stiiati n ehavi r and, there re, eert signiiant inene n marketing deisi ns.
An eampe is pr vided y B0 Gr p - deining its vaes:
B0's ativities are nderpinned y a set vaes that a B0 pe pe are asked t respet: ñ
We pt st mers irst
ñ
We are pr essi na
ñ
We respet eah ther
ñ
We w rk as ne team
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We are mmitted t ntin s impr vement.
0hese are spp rted y r visi n a mmniati ns-rih w rd - a w rd in whih every ne an eneit r m the p wer mmniati n skis and tehn gy.
A s iety in whih individas, rganisati ns and mmnities have nimited aess t ne an ther and t a w rd kn wedge, via a mtipiity mmniati ns tehn gies inding v ie, data, m ie, internet - regardess nati naity, tre, ass r edati n.
Or is t aiitate eetive mmniati n, irrespetive ge graphy, distane, time r mpeity. S re: B0 Gr p p wesite
s t Co ot stro C r issio " ! # * ! It pr vides an tine h w the marketing pan sh d seek t i the missi n It pr vides a means evaating and sreening the marketing pan; are marketing deisi ns nsistent with the missi n? It pr vides an inentive t impement the marketing pan
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¥Strategy is the Ð and an rganisati n ver the whih ahieves Ð r the rganisati n thr gh its nigrati n within a haenging , t meet the needs and t i Ð epetati ns¥.
Strategi Adit - ensring that the } mpany res res and mpetenies are nderst d and evaated Res re Adit
mae }hain Anaysis
} re } mpetene Anaysis
Per rmane Anaysis
P rt i Anaysis
SWO0 / PS0 Anaysis
to ork iti Co sour s Co str i ts & isti g Fu s Fu s $
Proutio M rk ti g S s D 0 i I or tio 0 oog
isti g St Futur St quir ts 0r i i g D v o t Gooi ut tio Br s I t tu Pro rt
bj ti s - Coror t u tio u tio m s might i ud :
Coror t 0h s r obj ti s th t o r th busi ss or org is tio s who
W im or r tur o i stm t o t st 15% W im to hi o r ti g roit o o r $10 miio o s s o t st $100 miio W im to i r s r i gs r sh r by t st 10% ry y r or th or s b utur
m s might i ud :
u tio S ii obj ti s or s s m rk ti g tiiti s
W im to buid ustom r d t b s o t st 250,000 hous hods withi th t 12 mo ths W im to hi m rk t sh r o 10% W im to hi 75% ustom r w r ss o our br d i our t rg t m rk ts W im to s $2m o yz rodut i to ABC m rk t o r th t 6 mo ths
mae }hain Anaysis
mae }hain Anaysis desries the ativities that take pae in a siness and reates them t an anaysis the mpetitive strength the siness. Mihae P rter sggested that the ativities a siness d e gr ped nder tw headings: 0 20
$ - th se that are direty nerned with reating and deivering a pr dt (e.g. mp nent assemy); and
!! , whih whist they are n t direty inv ved in pr dti n, may inrease eetiveness r eiieny (e.g. hman res re management). It is rare r a siness t ndertake a primary and spp rt ativities.
mae }hain Anaysis is ne way identiying whih ativities are est ndertaken y r siness and whih are est pr vided y thers (¥ ts red¥).
* $ ! ' What ativities a siness ndertakes is direty inked t ahieving mpetitive advantage. F r eampe, i we wish t tper rm r mpetit rs thr gh '(( rseves thr gh higher qaity then we wi have t per rm r vae hain ativities etter than the pp siti n. Bt i we ad pt a strategy ased n seeking ' ! this wi reqire a redti n in the sts ass iated with the vae hain ativities, r a redti n in the t ta am nt res res sed.
mae }hain '( (/ "* '(
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Primary Ativities Primary vae hain ativities inde: ²
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Spp rt Ativities S
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Steps in a mae }hain Anaysis Break d wn a market / rganisati n int its key ativities
Assess the p tentia r adding vae via st advantage r dierentiati n, r identiy rrent ativities where a siness appears t e at a mpetitive disadvantage;
Determine strategies it ar nd sing n ativities where mpetitive advantage an e sstained
} re mpetenies
} re mpetenies are th se apaiities that are ritia t a siness ahieving mpetitive advantage.
0he starting p int r anaysing re mpetenies is re gnising that mpetiti n etween sinesses is as mh a rae r mpetene mastery as it is r market p siti n and market p wer.
Seni r management ann t s n a ativities a siness and the mpetenies reqired t ndertake them.
S the g a is r management t s attenti n n mpetenies that reay aet mpetitive advantage.
} re } mpetenies are n t seen as eing ied. } re } mpetenies sh d hange in resp nse t hanges in the mpany's envir nment. 0hey are eie and ev ve ver time. As a siness ev ves and adapts t new irmstanes and pp rtnities, s its } re } mpetenies wi have t adapt and hange.
We need t nderstand what we are g d and what makes s etter and t h ne these advantages and t deve p new nes t nderpin the siness strategy
Identiying } re } mpetenies Prahaad and Hame sggest three at rs t hep identiy re mpetenies in any siness:
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What is } mpetitive Advantage?
mpetitive advantage is a c mpany¶s ability t perf rm in ne r m re ays that c mpetit rs cann t r ill n t match.´ ²
f y u d n¶t have a c mpetitive advantage, d n¶t c mpete.´ "
F r Generi Strategies wer
st
ifferentiati n
Br a 0arget
S
st ea ers i
ifferentiati n
e st F s
Narr w 0arget
ifferentiati n F s
Other }harateristis } mpetitive Advantage
Sstantiaity ñ Is it sstantia en gh t make a dierene?
Sstainaiity ñ }an it e netraized y mpetit rs qiky?
Aiity t e everaged int visie siness attrites that wi inene st mers
nS urce: Strategic Marketing Management, Aakers)
Seeking } mpetitive Advantages
P siti ns advantage ñ Speri r st mer vae ñ L wer reative t ta st
Per rmane advantages ñ }st mer satisati n, L yaty, Market Share, Pr it
S res advantages ñ Speri r skis & kn wedge, Speri r res res, Speri r siness pr ess
WHR 0O }OMP0? ' Whih st mers are y trying t target r attrat? Whih are y wiing t serve, t wi n t spend res res t attrat? Whih w d y preer n t t serve?
! ! ( Ge graphi imits t the siness? L a, regi na, mti a, nati na, internati na, r g a payer? I a, whih aities?
! *
3 ' $ Whih distriti n hannes wi y se? What st mer segments an they reah?
'
4 $'' ( ! ' Breadth the pr dt ine? Qaity the pr dt ine? Pr dt ndes r a series nreated pr dts?
}apaiity pat rm: assessment s res mpetitive advantage (1/2) - !
Privieged assets
$ ! ' ' ' $
Distintive mpetenies
Physia asset
BHP¶s w- st mines
L ati n/¥spae¥
0ee mm/media mpany with rights radi spetrm
Distriti n/saes netw rk
Av n¶s representatives
Brand/reptati n
} a-} a
Patent
Pharmaetia mpany with a ¥w nder drg´
Reati nship with ¥iense¥ a at r
¥Fav red nati n¥ stats with a key minister in ieraizing e n my
Inn vati n
3M with new pr dts
}r ss-nti na rdinati n
MD nad¶s with QS}&m J&J with randed nsmer heath pr dts
Market p siti ning } st/eiieny management
mers n etri¶s Best } st Pr der pr gram P&G rand management pr gram
0aent deve pment
tremey reevant
}apaiity pat rm: assessment s res mpetitive advantage (2/2)
S mewhat reevant Irreevant
Physia asset L ati n/¥spae¥ Privieged assets
Distriti n/saes netw rk Brand/reptati n
$ ! ' ' ' $
Patent Reati nship with ¥iense¥ a at r Inn vati n
Distintive mpetenies
}r ss-nti na rdinati n Market p siti ning } st/eiieny management 0aent deve pment
!% nsre that these are the apaiities reqired t seed in the indstry. Use this ist as a th ght starter, add and deete as y see appr priate
!2% Assess y r vera p siti n reative t the apaiities reqired t seed in the indstry. As , determine i these apaiities are reevant t the segments y serve
} mpetit r apaiity mparis n
! Physia asset
L ati n/¥spae¥ Privieged assets
Distriti n/saes netw rk
Brand/reptati n !
Patent Reati nship with ¥iense¥ a at r Inn vati n
Distintive mpetenies
}r ss-nti na rdinati n Market p siti ning } st/eiieny management 0aent deve pment
!5% } mpare the strengths and weaknesses y r mpetitive p siti n vs. the neessary skis
²ort r¶s or s o Co titi ²ositio i r "*
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P rter 5 F res
P rter¶s 5 F res } mpetitive P siti n versi n #2
² rter¶s ² siti n
res } mpetitive ntry Barriers c n mies f Scale Brand dentity apital Requirements
Determinants f Supplier P er
Sitching sts Supplier V lume mpact F rard ntegrati n
New ntrants
Indstry } mpetit rs
Sppiers Intensity Rivary
Byers Determinants f Buyer P er
Buyer ncentrati n Buyer V lume Backard ntegrati n
Determinants f Substituti n Threat
Relative Price Perf rmance Sitching sts
Rivalry Determinants ndustry Gr th Fixed sts Pr duct Differences Brand dentity xit Barriers
Sstittes
F res at w rk ramew rk 0 ( . iere tiati i uts witi sts suiers a irms i te i ustr ²rese e substitute i uts uier e trati Im rta e ume t suier C st reatie t t ta urases i te i ustr Imat i uts st r iere tiati 0reat rwar i te rati reatie t treat bakwar i te rati b irms i te i ustr
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60 $' I ustr r wt Fie ( r st ra e) st/aue ae I termitte t eraait ²r ut iere es Bra ie tit witi sts C e trati a baa e I rmati a meit iersit metit rs C r rate stakes it barriers
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$ mies sae ²r rietar r ut iere es Bra ie tit witi sts Caita requireme ts Aess t istributi Abs ute st aa ta es ²r rietar ear i ure Aess t eessar i uts ²r rietar , w- st r ut esi G er me t i ete retaiati
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0 ( Reatie rie er rma e substitutes witi sts Bu er r e sit t substitute
50 ($ .
Bu er e trati s. irm e trati Bu er ume Bu er switi sts reatie t irm switi sts Bu er i rmati Abiit t bakwar i te rate ubstitute r uts ²u-tr u
$ ²rie/t ta urases ²r ut iere es Bra Ie tit Imat quait ereti Bu er r its eisi makers' i e ties
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Strategi Panning Link with Marketing Panning
Bsinesses that seed d s y reating and keeping st mers.
0hey d this y pr viding etter vae r the st mer than the mpetiti n.
Marketing management nstanty have t assess whih st mers they are trying t reah and h w they an design pr dts and servies that pr vide etter vae (³ mpetitive advantage´).
0he main pr em with this pr ess is that the ³envir nment´ in whih sinesses perate is nstanty hanging.
S a siness mst adapt t reet hanges in the envir nment and make deisi ns a t h w t hange the marketing mi in rder t seed.
0his pr ess adapting and deisi n-making is kn wn as marketing panning.
Strategi Pan
Bsiness Pan
Marketing Pan
Saes Pan
State Pan
Regi na Pan
Indstry Pan
Key A nt Pan
Strategi vs. Marketing Pans
Strategi panning is nerned a t the vera direti n the siness. ñ It is nerned with marketing, rse. ñ Bt it as inv ves deisi n-making a t pr dti n and perati ns, inane, hman res re management and ther siness isses.
0 Ð Ð ÐÐ Ð
Marketing has a key r e t pay in strategi panning, ease it is the marketing management t nderstand and manage the inks etween the siness and the ³envir nment´. S metimes this is qite a straight rward task. ñ F r eampe, in many sma sinesses there is ny ne ge graphia market and a imited nmer pr dts (perhaps ny ne pr dt!). ñ H wever, nsider the haenge aed y marketing management in a mtinati na siness, with hndreds siness nits ated ar nd the g e, pr ding a wide range pr dts. ñ Keeping ntr marketing deisi n-making in sh a mpe sitati n as r we- rganised marketing panning.
Key isses in strategi and marketing panning?
0he wing qesti ns are key in the marketing and strategi panning pr ess: ñ ñ ñ ñ ñ ñ
Where are we n w? H w did we get there? Where are we heading? Where w d we ike t e? H w d we get there? Are we n rse?
A marketing pan heps t : ñ 0he aiity a siness t ahieve pr itae saes is impated y d zens envir nmenta at rs, many whih are inter- nneted ñ Identiy s res mpetitive advantage ñ Gain mmitment t a strategy ñ Get res res needed t invest in and id the siness ñ In rm stakeh ders in the siness ñ Set etives and strategies ñ Measre per rmane
Sitati n Anaysis
Interna Anaysis² mpany; apaiity et. terna Anaysis²st mers, market
SWO0 Anaysis ñ trengths, 7eaknesses, pp rtnities & 0hreats
deiniti n, indstry strtre
ñ Identiy & pri ritize ma r pr ems and pp rtnities: seeti n key isses
Based n the irm¶s re mpetenies, deide n tre pti ns
SWO0 Interna nvir nment Strengths
Weaknesses
W rd ass pr dt Finania res res Kn w-h w
0ehnia spp rt Interna pr esses }hannes netw rk terna nvir nment
Opp rtnities Water & nergy rises nvir nment awareness Pr dtivity impr vement
0hreats } mpetit rs market share r X D ar 0ehn gy deve pment
0 I I !! +
8 3
3
1
H w are demand and sppy epeted t ev ve? H w d y epet the indstry hain e n mis t ev ve? hat are the p tentia ma r indstry dis ntinities? hat mpetit r ati ns d y epet?
+ 7*
hat are y r BU¶s assets/ mpetenies that s idiy y r mpetitive p siti n? hat are y r BU¶s assets/ mpetenies that weaken y r mpetitive p siti n? }an e sed as a th ght starter r mpetitive anaysis and interna assessment
7 9,
raes p tentia pp rtnities/threats arising r m at rs eterna t the siness
SWO0 Anaysis is sti a se 0
0OWS matri Strengths
Weaknesses
Opp rtnities
S-O strategies
W-O strategies
0hreats
S-0 strategies
W-0 strategies
, prse pp rtnities that are a g d it t the mpanies strengths. 7, ver me weaknesses t prse pp rtnities.
, identiy ways that the irm an se its strengths t rede its vneraiity t eterna threats. 7, estaish a deensive pan t prevent the irm's weaknesses r m making it highy sseptie t eterna threats.
PS0 anaysis
A san the eterna mar envir nment in whih the mpany wants t perate ( r perates) and an e epressed in terms the wing at rs: ñ ñ ñ ñ
itia n mi
ia ehn gia
' S½ ²
%
$ % $ & $
' ' $ $ $ ! ' $
%
& & ( $
& & &
7 A $ m st mm ny measres a *; a
7 $ measres a :! ! '. Generay speaking a SWO0 anaysis measres a siness nit r pr p siti n, whereas a PS0 anaysis measres the market p tentia and sitati n, partiary indiating gr wth r deine, and therey market attrativeness, siness p tentia, and sitaiity aess - market p tentia and 'it' in ther w rds. PS0 anaysis ses r perspetives, whih give a gia strtre, in this ase rganized y the PS0 rmat, that heps nderstanding, presentati n, disssi n and deisi nmaking. PS0 anaysis an e sed r marketing and siness deve pment assessment and deisi n-making, and the PS0 tempate en rages pr ative thinking, rather than reying n haita r instintive reati ns.
trutur trutur --o ut o ut-- ror (C²) o ' $
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0ehn gy reakthr ghs }hanges in g vernment p iy/regati ns D mesti Internati na
(' ' Avaiaiity sstittes Dierentiaiity pr dts Rate gr wth m atiity/yiaity ( !!$ } nentrati n pr ders Imp rt mpetiti n Diversity pr ders Fied/variae st strtre }apaity tiizati n ntry/eit arriers ' $ Bargaining p wer inpt sppiers Bargaining p wer st mers
"* Priing m me Advertising/pr m ti n New pr dts/R&D Distriti n
!$ pansi n/ ntrati n ntry/eit Aqisiti n/merger/ divestitre F rward/akward integrati n mertia int ventres L ng-term ntrats (($ } st ntr L gistis Pr ess R&D Organizati n eetiveness
& Pr itaiity mae reati n ! ! $
Deiniti n risks (
*
$ *
$ *
$ *
" *
Risk ss de t hanges in indstry and mpetitive envir nment, as we as shits in st mer preerenes
Risk de t hanges in regat ry envir nment (e.g. deregati n)
Risk de t ma r hanges in tehn gy Risk aires de t siness pr esses and perati ns r pe pe¶s ehavi r, either intenti na (e.g. rad) r nintenti na (e.g. err rs)
Risk ss de t hanges in the p itia, s ia, r e n mi envir nments
Management
Management, ntr and evaati n
Five disipines Peter Senge
" $% ñ Aspirati n inv ves rmating a herent pitre the rests pe pe m st desire t gain as individas, a ngside a reaisti assessment the rrent state their ives t day. ñ Learning t tivate the tensi n etween visi n and reaity an epand pe pe's apaity t make etter h ies, and t ahieve m re the rests that they have h sen.
"" ' : ñ Reeti n and inqiry skis is sed ar nd deve ping awareness the attitdes and perepti ns that inene th ght and interati n. ñ By ntinay reeting p n, taking a t, and re nsidering these interna pitres the w rd, pe pe an gain m re apaiity in g verning their ati ns and deisi ns.
Five disipines Peter Senge
' : ñ staishes a s n mta prp se. ñ Pe pe earn t n rish a sense mmitment in a gr p r rganizati n y deve ping shared images the tre they seek t reate, and the prinipes and giding praties y whih they h pe t get there.
: ñ Gr p interati n. ñ 0hr gh tehniqes ike dia ge and ski disssi n, teams trans rm their etive thinking, earning t m iize their energies and ati ns t ahieve mm n g as, and drawing rth an inteigene and aiity greater than the sm individa memers' taents.
Five disipines Peter Senge
$ *: ñ Pe pe earn t etter nderstand interdependeny and hange, and therey t dea m re eetivey with the res that shape the nseqenes r ati ns. ñ Systems thinking is ased p n a gr wing dy the ry a t the ehavi r eedak and mpeity - the innate tendenies a system that ead t gr wth r staiity ver time. ñ 0 hep pe pe see h w t hange systems m re eetivey and h w t at m re in tne with the arger pr esses the natra and e n mi w rd.
Pr et management - pr esses
Pr et management a pr ess
Pr et management pr ess hain
Pr et management risk anaysis
Sess Keys - Dep yment Dep yment - } mpeting the Pan Sess Faire >Assign r es and resp nsiiities
>N a ntaiity r dep yment
>staish pri rities
>0 many g as, strategies, r etives - n apparent pri rity
>Inv ve mid-eve management as ative partiipants
>Pan in a vam-nti na s
>0hink it thr gh - deide h w t manage impementati n
>N
vera strategy t impement
>}harge mid-eve management with >Make n attempt t ink with day-t -day perati ns aigning wer-eve pans >Make are h ies a t the ntents the pan and rm it wi take
>N t eing th r gh-g ssing ver the detais
Sess Keys - } mmniati n Dep yment - } mmniating Sess
Faire
Assign r es and resp nsiiities
N a ntaiity
} mmniate the pan nstanty and nsistenty
Never tak a t the pan
Re gnize the hange pr ess
Ign re the em ti na impat hange
Hep pe pe thr gh the hange pr ess
F s ny n task a mpishment
Sess Keys - Impementati n Impementing - I Sess
Faire
Assign r es and resp nsiiities
N a ntaiity
Inv ve seni r eaders
Disengagement r m pr ess
Deine an inrastrtre
Unmanaged ativity
Link g a gr ps
Fragmented a mpishment etives eads t s- ptimizati n
Phase integrati n impementati n ati ns with w rk ad
F re pe pe t h se etween impementati n and daiy w rk; t many teams
Inv ve every ne within the rganizati n
N aignment strategies
Sess Keys - Impementati n Impementing - II Sess A ate res res r impementati n
Faire F s ny n sh rt term need r res res Ign re r av id hange
Manage the hange pr ess N measrement system vaate rests Share ess ns earned; akn wedge sesses thr gh pen and reqent mmniati n
Hide mistakes/ay ame; imited/n mmniati n
Sess Keys - Measrement Strategi Measrement - I Sess Faire Assign r es and resp nsiiities
N a ntaiity
Use measrement t nderstand the rganizati n
S- ptimizati n: s ny n eiienies
Use measrement t pr vide a nsistent viewp int r m whih t gage per rmane
Use measres that pr vide n rea in rmati n n per rmane; se t many measres
Use measrement t pr vide an integrated, sed view the tre
Use measrement t s n the tt m-ine ny
Sess Keys - Measrement Strategi Measrement - II Sess
Faire
Use measrement t mmniate Use measrement t ntr p iy (new strategi direti n) Update the measrement system
Never review measres
Use measrement t pr vide qaity eedak t the strategi management pr ess
Fai t se measrement t make strategi, at-ased deisi ns; se ny r ntr
Sess Keys - vaati n vaati n Sess
Faire
Assign r es and resp nsiiities
N a ntaiity
Re gnize when t pdate the pan
P r timing and n t re gnizing eterna res
M diy strategi panning pr ess t a mm date the m re matre rganizati n
Rigid appiati n strategi panning pr ess; ign re ess ns earned r m previ s e rts Ign re impat new eaders
In rp rate new eaders int the strategi panning pr ess Integrate measrement with strategi panning
D n't se measrement in rmati n Sh rtt the pr ess
Use eperiened strategi panning aiitat rs
Best } mpanies Spend m re time n F rward Panning than Hist ria Anaysis
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Ð Ð Ð
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Beneits R ing F reasts
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