grand strategy
Post on 14-Sep-2014
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Strategic Management TypesTRANSCRIPT
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GRAND STRATEGY-S. ASHA
M.com., M.Phil,MBA, ICWAI(Inter)
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What is it?????????????
• Maximize your opportunities, minimize your risks and achieve performance breakthroughs.
• "That would be great, how do I do it?"
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Achieving this level of performance requires
• A deliberate strategy - performance management
• Scan the business horizon• Focus time• Energy • Knowledge• Relationships • Resources• Execute courses of action that possess the
highest pay-off• Lowest costs• Easiest implementation trajectory
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So…. Grand Strategy is……..• Step-by-step process for
developing a business strategy with a performance management and measurement system for your business
• Equates to a necessary precursor for all subordinate strategies and systems whether they be marketing, innovation or otherwise
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• 12 steps - Grand Strategy process. • First 11 steps - best developed as
living document with top management team - facilitator at an off-site meeting to avoid distractions
• Twelve - strong top management commitment, support and involvement
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Step One. Answer "What's your Theory of Business?"
• Where are you going? • How will you get there? • How will you know you've arrived?
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Step Two. Create a clear expression of your intangible business resources • Values - family well being, charity and goodwill toward
others, honesty and integrity, and making a difference in the world.
• Beliefs - we provide excellent products and services that please our customers at a competitive price, we will be a profitable business
• Attitudes - most people tend to be fair if treated fairly
• Capabilities - sales force knowledge, knowledge about
competitors
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Step Three. Write a "Mission Statement."
• Why are you in business? • What does your business do and how
does it do it? • Who does your business, who supports
it, who benefits from it and who, if anyone, suffers from it?
• How many different kinds of resources are involved in your business, how much do they costs and how much profit do you expect to make from them
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Step Four. Perform an "Environmental Scan"
• What industry are you in?• What is the economic situation?• Who are your competitors and
potential competitors? • Who are your customers?
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Step Five. Perform a SWOT Analysis
• Strengths• Weaknesses• Opportunities• Threats
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Step Six. Determine "Strategic Focus." "Hyper-Competition"
• Customer Intimacy • Product Leadership • Operational Excellence
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Step Seven. Seek performance breakthroughs.
• Administrative and Operations
• Crisis
• Breakthrough
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Step Eight. Understand and apply "Cause and Effect Relationships."
• Human Capital
• Structural Capital
• Customer Capital
• Financial Performance
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Step Nine. Develop a "Strategy Map."
"Be a compelling place to Work, Shop and Invest”
☻ Financial Performance Goals
☻ Customer Capital Goals
☻ Structural Capital Goals
☻ Human Capital Goals
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Step Ten. Translate your Strategy Map goals into "Key Performance Measures"
چ GOALS into MEASURABLE terms
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Step Eleven. Prepare a "Scorecard" to keep track and drive your Grand Strategy
Using the perspectives of scorecard
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Step Twelve. Execute, Adjust, Execute • Don't confuse creating your
Grand Strategy with taking action
• Grand Strategy process demands real work and organizational change
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QUERIES ????????????????????????