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Rationale
Why do some organizations continually succeed in meeting stakeholders’ expectations while others do not? Why do some organizations have a roller coaster performance record? One of the key differentiators between all these types of organizations is the existence and proper execution of a mid to long term strategy.
In this course, we will dig deep into many well-established frameworks, tools and techniques for strategic planning and execution. Participants will be able to pinpoint the real reasons behind long term strategic performance, and they will be able to replicate this success in their own organizations.
Course Methodology
The course uses a customized case study to cover all the topics of the course. In addition, participants will be able to practice each framework, tool or technique within their own teams.
Course Objectives
By the end of the course, participants will be able to:
- Apply effectively the strategy management process using essential strategic thinking and planning tools and techniques
- Employ models and frameworks to strategically analyze the external environment of an organization
- Identify and build organizational competencies, capabilities and competitive position
- Implement a measurable strategic plan in order to achieve the organization’s vision
- Translate the strategic plan into internal operations with focus on continuous improvement
- Define a corporate culture that promotes good strategy execution
Target Audience
All levels of managers and company personnel who are involved in charting and supporting the execution of the company plans to achieve its strategic goals and objectives.
Target Competencies
- Strategic planning
- Competitive analysis
- Trend analysis
- Driving customer value
- Analytical thinking
- Strategy execution
Course Outline
The managerial process of crafting and executing strategy
- The three big strategic questions
- Key elements of a successful strategy
- Strategy and the quest for competitive advantage
- The importance of strategy
- The strategy making and strategy execution process
- Types of strategic objectives required
- Corporate and business level strategies
- Functional and operational level strategies
- Breadth of strategy crafting and implementation
Evaluating the external environment of a company
- The components of a company’s micro and macro environments
- Key questions regarding industry and company environment
- The industry’s dominant economic traits
- Porter’s five industry forces model
- Typical weapons for competing
- Key success factors for competitive success
- Fundamentals of ‘PEDESTL’ framework
- Determining external opportunities for the organization
- Determining external threats impacting the organization
Evaluating the resources and competitive position of a company
- Situational analysis: key questions
- Role of ‘SWOT’ analysis in crafting a better strategy
- Defining the internal strengths of the organization
- Competencies, core competencies, and distinctive competencies
- Defining the internal weaknesses of the organization
- Identifying weaknesses and competitive deficiencies
- Porter’s generic strategies
- Key indicators of how well strategy is working
- Value chain innovation
Building an organization capable of good strategy execution
- Crafting versus executing strategy
- Management challenges in executing strategy
- The strategy implementers
- Putting together a strong management team
- Building core competencies and competitive capabilities
- Defining strategic objectives
- The balanced scorecard (BSC)
- Creating critical success factors (CSFs)
- Key performance indicators (KPIs)
- Matching your organizational structure to your strategy
Managing internal operations
- From strategic plan to action plan
- Lining up your resources behind the drive for good strategy execution
- Establishing and instituting policies and procedures that facilitate strategy execution
- Adopting best practices and striving for continuous improvement
- Building information and operating systems that proficiently support your strategy
- Tying rewards and incentives to strategy execution
- Guidelines for designing an effective compensation system
Corporate culture and leadership
- Initiating a corporate culture that promotes good strategy execution
- Spreading the company culture
- Types of corporate cultures
- Leading the strategy execution process
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