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New Tools for Strategic Planning Chapter 1

New Tools for Strategic Planning Chapter 1. T. A. Sgritta University of North Carolina at Charlotte. Planning. Class format. Traditional + Understanding Application Real World. Goals for the Class. Use the material early and late in career Become immediately valuable to employer

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New Tools for Strategic Planning Chapter 1

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  1. New Tools for Strategic Planning Chapter 1 T. A. Sgritta University of North Carolina at Charlotte

  2. Planning

  3. Class format • Traditional + • Understanding • Application • Real World

  4. 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

  5. Remember the Purpose

  6. Goal of Strategic Planning The goal of strategic planning is to achieve competitive advantage

  7. Competitive Advantage

  8. Competitive Advantage Key words that mean something (or combination of things) of value that you have and others don’t!

  9. Strategy as a Subject • Large Corporations vs. Small Companies • Planning “30,000 foot” approach • Bias for Action

  10. Mission Statements • Strategic Vision • Mission • Strategic Objectives

  11. Determining Mission What business are we in?

  12. Missions (Cont’d) • 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!

  13. McDonalds

  14. Dave Thomas

  15. Wendy’s

  16. Wendy’s 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.

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

  18. Strategic Planning/Management • Plan development • Analysis • Define strategy • Action Plans • Review & Control • Don’t get stuck!

  19. Planning Factors • Real (situation & opportunities) • Win (competitive positioning) • Worth (financial and other)

  20. Presenting Plans • Written and Oral • Selling • Yourself • Management • Colleagues • Employees

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