New Tools for Strategic Planning Chapter 1

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New Tools for Strategic Planning Chapter 1

• T. A. Sgritta
• University of North Carolina at Charlotte

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Planning
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Class format

• Traditional
• Understanding
• Application
• Real World

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Goals for the Class

• Use the material early and late in career
• Become immediately valuable to employer
• Take control of responsibilities and career
• Get a raise
• Have employer come back to our university

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Remember the Purpose
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Goal of Strategic Planning

• The goal of strategic planning is to achieve
  competitive advantage

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Competitive Advantage
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Competitive Advantage

• Key words that mean something (or combination of
  things) of value that you have and others dont!

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Strategy as a Subject

• Large Corporations vs. Small Companies
• Planning 30,000 foot approach
• Bias for Action

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Mission Statements

• Strategic Vision
• Mission
• Strategic Objectives

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Determining Mission

• What business are we in?

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Missions (Contd)

• Target market segment (defined customers)
• Product or product range
• Channel(s) of sale
• (possible) technology advantage
• Together define the business and the competitive
  advantage
• Formal corporate mission statements are usually
  not real missions!

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McDonalds
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Dave Thomas
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Wendys
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Wendys Mission

• Quoted Our guiding mission is to deliver
  superior quality products and services for our
  customers and communities through leadership,
  innovation and partnerships
• Real To provide fresh, quality hamburgers and
  other adult oriented fast foods through owned and
  franchised stores that feature sit-down and drive
  thru venues that appeal to adults with little
  time.

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Using Mission

• Tool for management decision making
• Can change mission
• But it is a formal, not often occurrence!

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Strategic Planning/Management

• Plan development
• Analysis
• Define strategy
• Action Plans
• Review Control
• Dont get stuck!

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Planning Factors

• Real (situation opportunities)
• Win (competitive positioning)
• Worth (financial and other)

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Presenting Plans

• Written and Oral
• Selling
• Yourself
• Management
• Colleagues
• Employees