(Available also for Customised Training by Duration, Venue & Fee)
Corporate strategy is concerned with an organisation's primary direction for the future; its purpose, ambitions, resources and how it interacts with the world in which it operates.
Every aspect of the business plays a role in its strategy - its people, finances, processes, and environment. All these broad areas must be structured and developed for the organisation to operate effectively.
By the time the training ends, participants will have developed the knowledge and skills required to:
- Define corporate strategy and explains its unique elements
- Clarify the critical success factors for their establishments
- Encourage themselves towards responsibility and accountability
- Link to other components like career planning & development, competency frameworks and rewards
- Support objective and continuous feedback between themselves and Senior Management.
- Planning Phase: “What should we achieve?”
- Perform Phase: “What are the results?” and “What can we do to improve?”
- Assess Phase: “How have we been doing?”
Introducing the Strategic Planning Imperatives
- Starting off with Corporate Vision, Mission & Values
- A RANDOM WALK THROUGH OUR CURRENT PRACTICES
A Defining Moment in the Life of Our Organisation
Core Values vs Current Realities
- Defining Corporate Strategy and its significance
- Aligning the core areas of Corporate Strategy
- Determining Performance Standards and Applicable Competencies
- Designing Targets, Monitoring Processes and Achievements.
Our Strategy from Stakeholders’ Perspective
What we want our existing and new external and internal customers to be getting from and feeling about us through our contributions and value delivery in quantitative and qualitative terms.
Our Strategy for Work Processes
- How to organise, structure, arrange and handle our operations and outputs to achieve our assignments and strategic objectives.
Our Strategy for Innovation & Development
- How do we generate new unique ideas to grow and achieve more outstanding results.
Our Strategy for Financial Targets Achievement
- How to achieve revenue enhancement and cost management from our strategy and operations.
Understanding the Current Business Environment
- Exploring the business environment
- Analysing the Industry Environment
- Analysing the Competitive Environment
- Analysing the Customer and Market segmentation
- Analysing Resources
- Financial Resources
- Human Resources
- Value addition
- Articulating the Critical Success Factors
Developing the Strategy
- Strategic Options
- Resource-based Strategic Options
- Market-based Strategic Options
- Strategy Selections
- Evaluation Criteria for strategy options
- Prioritising Criteria
- Selecting the best option
- Strategy Evaluation
- Evaluate the selected option
- Applying business judgement and guidelines
- Feasibility issues
- Stakeholder interests.
The Strategy Implementation Process
- Why Strategies Fail
- The People Barrier
- The Resource Barrier
- The Management Barrier
- The Vision Barrier
Resource Allocation, Strategic Planning and Control
- Relationship between implementation and the strategy
- Setting Targets - What are the ideal Performance Targets?
- Productivity levels
- Responsiveness in delivering on assignments
- The volume of assignments successfully delivered
- Quality targets.
Strategy Communication Processes
- Performance Tracking Tools
- Department Performance Tracking Form
- Job-holder Performance Tracking Form
- Weekly (Or Monthly) Performance Tracking Form.
Managing Strategic Change
- Understanding Change as a Process
- Taking Decisions on Types of Change
- Identifying Change Enablers
- Defining the Change Themes
- Choosing the Action Committee (the Change Agents)
- Change Tactics
- Identifying the Barriers to Change
- Setting Milestones.
Monitoring the Seven Unique Outcomes of Strategy Implementation
- Alignment: Individual employee’s goals get aligned with
corporate strategic objectives.
- Assessment: Provides constant feedback on each
employee’s strengths plus coaching
opportunities on improvement areas.
- Compensation: Serves as an objective basis to evaluate and
reward employees individually and as a team fairly for their contributions.
- Achievement: Motivates employees to achieve objectives
and improve performance.
- Planning: Makes workforce requirement planning easy
tandem with the Department’s goals and corporate objectives.
- Communication: Improves communication among seniors and
subordinates during appraisal periods.
- Development Guides the training and development process to assist
individuals in achieving their objectives.
Combining the Elements of Corporate Strategy
- The Seven S Framework
- Achieving the Cohesive Corporate Strategy.