Strategic
Planning
From
A to Z !
Larry Potterfield
Founder and CEO
Strategic Planning Process
Recap
Strategic Planning A-Z
1.
2.
3.
4.
5.
6.
Set the Direction (A-J)
Deploy the Strategic Objectives (K – P)
Create the Strategic Plan (Q-W)
Deploy the Strategic Plan (X)
Execute the Strategic Plan (Y)
Control the Results of Action Plans (Z)
Set the Direction
Set the Direction – H, I
Conduct SWOT & Results
Review
MidwayUSA Company SWOT Analysis - 2014
Reviewed 12/19/2013, Revised 12/19/2013 by SLT
Strengths - Allow us to Deliver Exceptional Results
1. Relentless Pursuit of our Vision drives performance excellence
2. Role Model Support of the Shooting Sports Industry
3. Business Administration (MLMP)
4. Strategic Planning (Expertise, Speed and Agility)
5. Culture of Continuous Improvement and Innovation
6. Financial Strength and Outstanding Cash Flow Management
7. Inventory Management
8. Information Systems Focused on Cutting-Edge Technologies
9. High-Performing, Engaged Employees who share our Values and Embrace our Culture
10. Employee Satisfaction and Engagement
11. Larry Positioned as Face and Voice of Midway Representing our Brand
12. Fast, Feature-Rich, User-Friendly Website
13. Product Selection (Just About Everything Strategy)
14. Order Fulfillment Capabilities (Nitro Express-Super Fast Shipping)
15. Customer Focus/Dedication to Customer Satisfaction
16. Customer-Friendly Policies (Easy to do Business With)
17. Frequent, Exciting Sales and Promotions
18. Vendor Relationship Management
Measure
19. New Product Acquisition (First to Market Strategy)
7.0 Results
Opportunities - Increases Satisfaction of our Stakeholders
1. Entering New Markets and Growing Market Share
2. Personalized Marketing
3. Social Marketing and Monitoring
4. Leveraging Potterfield Donations to Key Conservation Groups
5. Targeted Marketing
6. User-Generated Web Content and Community Features
7. Customer Loyalty Program
Weaknesses
1. Process Management
2. Workforce Training and Development System
3. Workforce Capacity and Capability Planning
4. Leadership Development
5. Customer Listening and Learning System
6. Project Management
7. Business Intelligence (Information Management and Analysis)
8. Market Research and Analysis
9. Obtaining and Using Benchmarking Information to Improve Results
10. Recruiting High-Performing, Engaged Employees who share our Values and Embrace our Culture
11. Low Cost Shipping
12. Competitive Pricing
13. Packaging Management
14. Freight Management
15. Product Information Management
16.
2014
February/Q1
17.
18.
2011 2012 Actual Goal Actual Goal
19.
0
93% 93%
93%
93%
93%
93%
7.1 Customer Satisfaction - Overall
88%
88%
81% 85%
86%
7.2 Employee Satisfaction
86%
Threats
7.3 Vendor Satisfaction
94% a sudden
94% event92%
92%
92%
92%
1. A sudden and significant increase in Demand following
(Panic Buying)
2. Unfavorable
inhibit98.8%
our Marketing/Services
(Google,95.4%
FB)
99.9%
95.4% 100%
100%
7.4 Shareholder Satisfaction
* view of our Industry by Partners who
0
Customer
3. MAP Programs Limiting Promotional Opportunities
4. Increasing/Changing or Unknown Regulations on Products
Satisfaction
SurveyAffecting
results the
areShooting/Hunting
based on rolling
90 days'
5. Legislation
Industry
6. Computer Viruses, Malware, Phishing and Hacking
7. Internet Sales/Use Tax
Results for 7.1, 7.2 and 7.3 are survey results
* Results for 7.4 are presented as a percent of goal
100% of goal
85-99.99% of goal
Below 85% of goal
data
Set the Direction – J –
Create Strategic Objectives
2014 Strategic Objectives
2014 Actual
#1 Improve Customer Satisfaction to 95%
93.0%
#2 Maintain Employee Satisfaction at 86%
88.0%
#3 Maintain Vendor Satisfaction at 92%
92.0%
#4 Improve Shareholder Satisfaction to 100%
95.4%
Deploy the Strategic
Objectives – K
Innovation
Sources include:
Employees, Customers
Vendors, Shareholders
Strategic Planning Meetings
*Ideas also used in process management
process to improve processes
Deploy the Strategic Objectives – L
Ideas Categorized
Employee Center Program
Operation Grand Slam
MidwayUSA Loyalty Credit Card
Process Mgt Process Redesign
Customer
Employee
Vendor
Shareholder
Create Strategic Plan – R, S, T – Analyze,
Select and Prioritize Action Plans
2014 Strategic Plan
2014 Strategic Objectives
#1 Improve Customer Satisfaction to 95%
#2 Maintain Employee Satisfaction at 86%
#3 Maintain Vendor Satisfaction at 92%
#4 Improve Shareholder Satisfaction to 100%
Action Plan
Operation Open Fire
Product Center Re-engineering to Support Merchandising Work System
PH&I Re-engineering / Rateshop
Customer Database Re-engineering
Sug Order Re-engineering
Customer Credit Card Information Hosting
Employee Center Program Implementation
Process Management Process Redesign
Competitive Price Benchmarking Process Creation
Prorated Backorder Shipping Charges
Package Delivery Center (PDC)
MidwayUSA Loyalty Card Launch
Returns Center on Website with Improved Policies and Processes
Packaging Management (PACK-MAN)
Customer Listening and Learning Process Creation
Customer Satisfaction Survey Improvement
Apply for and Win Baldrige National Quality Award
Business Intelligence Re-engineering
Repack and Finish Work Process Re-Engineering
Nitro 3.0 (Jefferson Building Integration)
Employee Satisfaction Survey Re-engineering
Inventory Control & Tracking Re-Engineering
2013 Actual
93.0%
87.0%
95.0%
98.0%
Strategic Objective
Shareholder Satisfaction
Employee Satisfaction
Customer Satisfaction
Customer Satisfaction
Customer Satisfaction
Shareholder Satisfaction
Employee Satisfaction
Shareholder Satisfaction
Customer Satisfaction
Customer Satisfaction
Customer Satisfaction
Shareholder Satisfaction
Customer Satisfaction
Customer Satisfaction
Customer Satisfaction
Customer Satisfaction
Shareholder Satisfaction
Employee Satisfaction
Customer Satisfaction
Employee Satisfaction
Employee Satisfaction
Shareholder Satisfaction
Stakeholder Key Requirement
1. Grow the value of the Company through Customer acquisition and retention
9. The right tools and support to do my job
4. Low-cost shipping
8. Easy to do business with
3. In-stock products
7. Legal, ethical, and regulatory compliance
9. The right tools and support to do my job
9. Continuous improvement in productivity
1. Competitive Product Pricing
4. Low-cost shipping
6. Fast shipping and delivery
1. Grow the value of the Company through Customer acquisition and retention
8. Easy to do business with
4. Low-cost shipping
8. Easy to do business with
CUSTOMER SATISFACTION
6. Receive Malcolm Baldrige National Quality Award
9. The right tools and support to do my job
6. Fast shipping and delivery
12. Safe, comfortable work environment
EMPLOYEE SATISFACTION
2. Grow the value of the Company through growth in sales and net income
Core Competency
Marketing
Merchandising
Logistics
Marketing
Merchandising
Customer Support
Leadership & Management Framework
Leadership & Management Framework
Merchandising
Logistics
Customer Support
Marketing
Customer Support
Logistics
Customer Support
Customer Support
Leadership & Management Framework
Leadership & Management Framework
Logistics
Logistics
Leadership & Management Framework
Logistics
Priority
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Create Strategic Plan – U- Integrate
Strategic Plan with Workforce Planning
• Ensure the resources needed to execute the strategic plan are integrated into workforce
plans.
3
Create Strategic Plan
4
Deploy the Strategic Plan – U
To the entire organization to facilitate engagement and acceptance of the plan.
Company Strategies Company Action Plans
Strategic Objectives Departmental Action Plans
Organizational Goals
5
Execute the Strategic Plan - V
• Implement the Action Plans on the current year’s strategic plan.
• This is the hardest part & greatest opportunity
SLT
6
Control the Results of APs
Action Plan Name
Desired Results
Improve Website Search
and Browse
• Improve percentage of web sales from
search by 5%*
• Reduce Percentage of Searches without
Results by 2%*
*fictitious data
Actual Results
Increased by 6%
Reduced by 1%
Recap
Strategic Planning A-Z
1.
2.
3.
4.
5.
6.
Set the Direction (A-J)
Deploy the Strategic Objectives (K – P)
Create the Strategic Plan (Q-W)
Deploy the Strategic Plan (X)
Execute the Strategic Plan (Y)
Control the Results of Action Plans (Z)
Larry Potterfield
Founder and CEO