Building a succesful business strategy PMConsulting Introductions PMConsulting What is a strategy? “Strategy help us define our business, gives it a set of values, and gives it purpose. It helps us understand what success actually looks like. It provides a roadmap for our business, shows us our destination and identifies key milestones and actions.” PMConsulting PMConsulting Agenda Mission/Vision statement Swot Anaysis Objectives Action Plan Q+A PMConsulting Mission statement ● ● ● A mission statement is a short statement that captures the essence of an organization's existence, including its values and goals. Its purpose is to serve as a guiding principle, providing direction and clarity for your company's actions and decisions. In just a few sentences, a mission statement answers what you do, why you do it, and who you do it for. A great mission statement includes the following elements: • Clarity and conciseness. • Acknowledgment of audience challenges. • Summary of goals, purpose, and values. PMConsulting Mission Statement Examples Unlever “To meet everyday needs for nutrition, hygiene and personal care with brands that help people look good, feel good and get more out of life.” Amazon “Serve consumers through online and physical stores and focus on selection, price, and convenience.” Apple “To bring the best user experience to customers through innovative hardware, software, and services. Vision Statement: To make the best products on earth and to leave the world better than we found it.” PMConsulting Constructing a mission statement When creating your mission statement, you must speak to the following relevant audiences and determine their needs: • • • Company leaders. Employees and contributors. Customers PMConsulting Constructing a mission statement What is the overall aim of the business? a. b. c. d. e. Profit? Sustainability? Serving the Community? Quality? All of the above? The mission statement should unite the management and the employees to achieve that aim. A well-framed mission statement is the foundation of a well-functioning and inspired organization. It will guide the organisation’s work over the long term, motivate its staff and attract funders. PMConsulting Constructing a mission statement exercise 1. Whom does the organization serve? a. b. c. To whom does the organization offer its products and services? What are the characteristics of the target population or market? Where is the target population or market located? PMConsulting Constructing a mission statement exercise 2. What does the organization do? a. b. c. What products and services does the organization offer? What do its beneficiaries or clients need and want? How well do its current products and services meet the needs and desires of its clients or beneficiaries? PMConsulting Constructing a mission statement exercise 3. Why does the organization do it ? a. b. What are the needs and desires of the organization’s clients or beneficiaries? Why is this important? PMConsulting Constructing a mission statement exercise 4. How does the organization do its work? a. b. What strategies will be employed to provide the right products and services to clients/beneficiaries? Can the strategies be implemented, given the context and available resources? PMConsulting Constructing a mission statement exercise Step 4: Write the Mission Statement a. Pull together the deliberations into a one or two sentence mission statement. b. Articulate the “who,” “what,” “why” and “how” of the organization in a way that makes it stand out as unique among competitors. PMConsulting Constructing a mission statement exercise Two more examples 1. 2. Population Services International (PSI) makes it easier for people in the developing world [the Who] to lead healthier lives and plan families they desire [the Why] by marketing affordable products and services [the What]. Uganda Health Marketing Group (UHMG) strives to improve the quality of life [the Why] of all Ugandans [the Who] by providing essential, superior and affordable health care solutions [the What], using a combination of social marketing and innovative campaign approaches [the How]. PMConsulting Swot Analysis SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential. PMConsulting Strengths Strengths describe what an organization excels at and what separates it from the competition: a strong brand, loyal customer base, a strong balance sheet, unique technology, and so on. For example, a hedge fund may have developed a proprietary trading strategy that returns market-beating results. It must then decide how to use those results to attract new investors. PMConsulting Weaknesses Weaknesses stop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive: a weak brand, higherthan-average turnover, high levels of debt, an inadequate supply chain, or lack of capital. PMConsulting Opportunities Opportunities refer to favorable external factors that could give an organization a competitive advantage. For example, if a country cuts tariffs, a car manufacturer can export its cars into a new market, increasing sales and market share. PMConsulting Threats Threats refer to factors that have the potential to harm an organization. For example, a drought is a threat to a wheat-producing company, as it may destroy or reduce the crop yield. Other common threats include things like rising costs for materials, increasing competition, tight labor supply. and so on. PMConsulting Swot Analysis (Exercise) Strengths 1. What do your customers love about your company or product(s)? 2. What does your company do better than other companies in your industry? 3. What are your most positive brand attributes? 4. What’s your unique selling proposition? 5. What resources do you have at your disposal that your competitors do not? Weaknesses 1. What do your customers dislike about your company or product(s)? 2. What problems or complaints are often mentioned in your negative reviews? 3. Why do your customers cancel or churn? 4. What could your company do better? 5. What are your most negative brand attributes? 6. What are the biggest obstacles/challenges in your current sales funnel? 7. What resources do your competitors have that you do not? Examples of strengths 1. Product is superior to other competitors 2. Product lifespan or durability 3. Costs - compared to competitors 4. Manufacturing processes are efficient 5. IT system can easily handle expansion Examples of weaknesses 1. Competitors' products are superior or cheaper 2. Budget is limited 3. Staff are untrained in new processes PMConsulting Swot Analysis (Exercise) Threats Opportunities 1. How can we improve our sales/customer onboarding/customer support processes? 2. What kind of messaging resonates with our customers? 3. How can we further engage our most vocal brand advocates? 4. Are we allocating departmental resources effectively? 5. Is there budget, tools, or other resources that we’re not leveraging to full capacity? 6. Which advertising channels exceeded our expectations – and why? Examples of Opportunities 1. Poor products currently on the market 2. Potential market for your product or service overseas 1. What regulations are changing? 2. What are competitors doing? 3. How are consumer tre nds changing? Examples of Threats 1. Changes of government or legislation 2. Competitors' product or service is at a more advanced stage 3. Increasing interest rates PMConsulting Company Objectives Benefits of having business objectives 1. A clear, concise and shared understanding of what success is, particularly when OKRs are developed to support achieving business goals. 2. A way to communicate priorities and align workers, teams and business units who might not otherwise know how their roles and responsibilities fit with achieving the business goals. 3. A framework for better measuring accountability, as the contributions of workers, teams and business units can be assessed on how they met the established OKRs. 4. A way to motivate and engage all employees. "People are more engaged and are more motivated when they know they're contributing to something bigger than themselves," PMConsulting Company Objectives (Examples 0 Apple's short term goals are: 1. 2. To maintain supply and provide excellent service to customers. Both the short and the long term goals of the company are described in its mission statement and vision, which are available to both internal and external constituents. PMConsulting Company Objectives The SMART targets stand for Specific, measurable, Achievable, Realistic and Time constrained. ● ● Businesses run on goals. Objectives are goals focused on operations, revenue, growth and productivity. Business objectives can be strategic or operational. How to Set Business Objectives 1. 2. 3. 4. 5. Establish Clear Goals and baseline Define Measurable Outcomes Outline a Roadmap with a Schedule Review/share with team Integrate Successful Changes How to Set Business Objectives 1. Financial Business Objectives ● Cost: It includes expenditure in the business. The ultimate aim is to minimise cost as much as possible without compromising quality. ● Sustainable growth: Businesses aiming to thrive for decades must consider the sustainability of their actions, plans, and financial objectives. ● Profitability: It is another factor that contributes to long-lasting business. ● Cash flow: It involves expenditure and income in a more complicated manner. Its positive or negative status decides the business's financial success in the long run. ● Revenue: Businesses can focus on profit or, specifically, on revenue. It includes deciding a particular amount or percentage the company wishes to see itself after a specific period. How to Set Business Objectives 2. Customer-Centric Business Objectives ● Sales: The objectives can be increasing cross-selling, decreasing the customer acquisition cost, or related activity ● Market share: The companies that aim to set themselves in the market can include the objective of increasing market share ● Competitive positioning: It encourages further development of the product based on customer's needs and currently present features in the market ● Customer satisfaction: It includes regularly taking feedback and criticism from the customers and addressing the same ● Churn: Reducing churn or the number of customer losses is essential for some businesses to consider ● Brand awareness: Investing in brand awareness helps get focussed. Clubbed with quality and affordability, it is expected to increase sales How to Set Business Objectives 3. Internal Business Objectives ● Diversity and inclusion: Talents and skills can be found in any number of countries. Welcoming and embracing them helps you gain different perspectives. ● Change management: Changes are difficult to deal with. Efficiently developing and implementing a plan ill improvetransition. ● Company growth: sustainable growth in terms of employees is a challenging task and hence needs to be included as an objective ● Employee satisfaction and engagement: It involves setting clear objectives enabling them to prioritise their workload. It increases productivity. Delegating more responsibility and investing in training can also be a method to improve morale. ● Productivity: Efficient segregation of work based on interest to learn and known skills can increase productivity. Additional factors may be needed, thus requiring it to be worked on as an objective. ● Employee retention: Decreased turnover accompanies familiarity, loyalty, and dedication between employees and business ● Employee effectiveness: Work on efficiency and effectiveness by the team members. Promote methods to encourage it. How to Set Business Objectives 4. Regulation-Related/Efficiency Business Objectives ● Compliance: Prioritize compliance requirements and set it as an objective to meet compulsory deadlines. ● Quality control: Including it as an objective showcases the company's focus. It further enhances the product's reach to customers and increases revenue. ● Waste reduction: Often ignored, it helps in keeping the environment safe. The act further provides indirect publicity and hence revenue and brand awareness. Set Company Business Objectives and agree owners/actions/timeframes (Exercise) Whoa! This can be the part of the presentation where you introduce yourself, write your email… Q+A Thank You 01 Introduction Insert a subtitle here if you need it This is a graph Jupiter It’s a gas giant and the biggest planet Venus Venus has a beautiful name Mars Mars is a cold place, not hot Jupiter Venus Mars Follow the link in the graph to modify its data and then paste the new one here. For more info, click here This is a graph 20% Mars Mars is a cold place, not hot 30% Jupiter Jupiter is the biggest planet 50% Venus Jupiter Mars Venus Venus has a beautiful name Follow the link in the graph to modify its data and then paste the new one here. For more info, click here Maybe you need to divide the content Mercury Venus Mercury is the closest planet to the Sun and the smallest one Venus has a beautiful name and is the second planet from the Sun Maybe you need to divide the content Mercury Venus Mercury is the closest planet to the Sun Venus has a beautiful name and it’s hot Jupiter Mars It’s a gas giant and the biggest planet Despite being red, Mars is actually a cold place A picture is worth a thousand words A picture is worth a thousand words 145,245 Big numbers catch your audience’s attention 795,321 Big numbers catch your audience’s attention Schedule Phase 1 Task 1 Task 2 Phase 2 Task 1 Task 2 9:00 10:00 11:00 12:00 Schedule Wednesda Thursday y Monday Tuesday Friday 08:15 Task 1 Meeting Idea Project Test 10:20 Meeting Idea Task 3 Chat Task 4 12:15 Proposal Meeting Meeting Idea Idea 14:30 Test Task 2 Project Test Meeting 02 Company Insert a subtitle here if you need it 02 Company Insert a subtitle here if you need it This is a graph 1,254 Jupiter It’s a gas giant and the biggest planet Jupiter Venus 4,215 8,554 Venus Venus has a beautiful name Mars Mars Mars is a cold place, not hot Follow the link in the graph to modify its data and then paste the new one here. For more info, click here More graphs 35% Jupiter 20% Mars Jupiter is the biggest planet Mars is a cold place, not hot 10% Venus 35% Mercury is the Mercury smallest planet Venus has a beautiful name Target Gender Age 30% 70% 30% 50% 20% 18 - 25 26 - 35 +36 Target Most selled products Gender ● ● ● ● ● 60% Saturn is a gas giant and has rings 40% Annual expenses Avg. expense: $5000 Mercury is the closest planet to the Sun Age 25-38 Write the best-selling products Write the best-selling products Write the best-selling products Write the best-selling products Write the best-selling products 39-50 A picture always reinforces the concept Images reveal large amounts of data, so remember: use and image instead of long texts A picture always reinforces the concept Images reveal large amounts of data, so remember: use and image instead of long texts Your can use three columns Mars Venus Mercury Mars is actually a cold place. It’s full of iron oxide dust Venus is the second planet from the Sun. It’s really hot Mercury is the closest planet to the Sun and the smallest one You can use six columns Mercury Venus Mars It’s the closest planet to the Sun It’s a planet with very high temperatures Mars is actually a very cold place Jupiter Saturn Neptune Jupiter is the biggest planet of them all It’s composed of hydrogen and helium It’s the farthest planet from the Sun This is a timeline 01 Jupiter Mars Jupiter is the biggest planet Mars is a cold place, not hot 02 03 Mercury Neptune Mercury is the smallest planet Neptune is far away from Earth 04 How the company generates income Mercury Mars Saturn Mercury is a small planet Mars is actually very cold Saturn is a gas giant with rings Jupiter Neptune Jupiter is the biggest planet Neptune is far away from Earth This is a table Mars Task 1 Task 2 Task 3 Task 4 Venus Jupiter This is a table Task 1 Task 2 Task 3 Task 4 Description Jupiter is the biggest planet Mercury a small planet Saturn has several rings Neptune is far away from us Year 2019 2020 2021 2022 Duration Three months Two weeks Six months Four months Percentages 20% 40% 60% Mars Venus Mercury Mars is actually a cold place Venus has a beautiful name Mercury is the smallest planet Percentages 40% 60% Mercury Mars Mercury is the smallest planet Mars is actually a very cold place You can use six columns Mars Venus Mercury Mars is actually a cold place Venus has a beautiful name Mercury is the smallest planet Neptune Jupiter Saturn Neptune is far away from Earth Jupiter is the biggest planet Saturn is a gas giant with several rings Competitors Mars Mercury Jupiter Despite being red, Mars is cold Mercury is the smallest planet Jupiter is the biggest planet Neptune Saturn Neptune is far away from Earth Saturn is a gas giant with rings Awesome words Awesome words This is a map Jupiter It’s a gas giant and the biggest planet Venus Venus has a beautiful name Mars Mercury Mars is a cold place, not hot Mercury is the smallest planet This is a map Jupiter Mars Jupiter is the biggest planet Mars is a cold place, not hot Venus Mercury Venus has a beautiful name Mercury is the smallest planet You can use four columns Mars Venus Mars is actually a cold place Venus has a beautiful name Neptune Jupiter It’s the farthest planet from the Sun Jupiter is the biggest planet You can use three columns 01 02 03 Neptune Mars Jupiter Neptune is far away from Earth Mars is actually a cold place Jupiter is the biggest planet This is an infographic Mars Mars is a cold place, not hot Jupiter Jupiter is the biggest planet 01 03 02 04 Venus Venus has a beautiful name Saturn Saturn is a gas giant with rings This is an infographic Mercury Mercury is the closest planet to the Sun Venus Idea Venus is the second planet from the Sun Mars Despite being red, Mars is actually a cold place Product Monthly data 125K 250K 540K January June November Mars is actually a cold place Venus has a beautiful name Mercury is the smallest planet Percentages 25% 20% Venus Jupiter Venus has a beautiful name and it's very hot Jupiter is the biggest planet of them all 40% 15% Mars Neptune Despite being red, Mars is actually a cold place It’s the farthest planet from the Sun Our goals Mars Mars is actually a cold place Neptune It’s the farthest planet from the Sun Venus Venus has a beautiful name Jupiter Jupiter is the biggest planet Our goals Neptune It’s the farthest planet from the Sun Venus Venus has a beautiful name Jupiter Jupiter is the biggest planet Statistics Phase 1 Phase 2 Phase 3 Mercury 1,254 9,145 8,145 Mars 5,214 6,541 3,214 Saturn 3,418 3,214 5,415 Statistics 2019 2020 2021 2022 Avg. spen $15,225 $40,000 $45,000 $65,000 Description Mercury is very small Venus has a nice name Jupiter is the biggest planet Mars is a cold place, not hot Customers 12,000 20,000 19,000 40,000 9h 55m 23s Jupiter’s rotation period 333,000 The Sun’s mass compared to Earth’s 386,000 km Distance between Earth and the Moon 35 4 91 2 Mars Despite being red, Mars is actually a cold place 78 9 Neptune Neptune is the farthest planet from the Sun Mercury Mercury is the smallest planet of them all Desktop mockup You can replace the image on the screen with your own work Tablet app You can replace the image on the screen with your own work Mobile web You can replace the image on the screen with your own work Laptop mockup You can replace the image on the screen with your own work List of references ● Write your references here ● Write your references here ● Write your references here ● Write your references here ● Write your references here ● Write your references here ● Write your references here ● Write your references here Research references ● Write references of books ● Write references of internet ● Write references of books ● Write references of internet ● Write references of books ● Write references of internet ● Write references of books ● Write references of internet ● Write references of books ● Write references of internet ● Write references of books ● Write 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