We know that Strategic planning is required in any field. But what are the basics of a strategy.
Defining Strategy -
Strategy is direction or scope of an organization over the long term which achieves advantage for the organization through its configuration of resources within a challenging environment to meet the needs of the markets and fulfill stake holders expectations.
Direction - Where is the business trying to get in the long term
Scope - Which markets should the business compete in. What activities can be done in those markets.
Advantage - How can the business perform better than the competitors in those markets.
Resources - What are the skills, finances, contacts, technical competencies required to compete.
Environment- What are the external factors affecting the business ability
Stakeholders - What are the values and expectations of those who are in or around the business.
Lets keep Chiwda as the product and the objective is to launch it in multiplexes.
Lets break it into 10 easy steps.
1. Setting Direction.
What do we want to achieve in the mindset of the consumers in terms of Chiwda is important here. Its not enough to say that we want to sell Chiwda. You got to clear on what you are communicating to the senses (emotion wise ) and(logic wise).
Chiwda emotional : Desi Chat /snack. Popcorn (Angrezi)
or
Chiwda logical : Popcorn outside Rs.15 vs inside Rs.70 - Chiwda outside Rs. 30 vs Chiwda Inside Rs. 50.
2. Concentrating Resources
Multitasking is good, but real work happens with focused behaviour. This needs to be planned and executed.
3. Maintaining Consistency
Everything needs to be measured. If it is found that consistency has dropped, the reasons for that in execution needs to be found and corrected. usually though not always, execution fails because people dont share the common vision.
4. Retaining Flexibility
Its good to have a plan. But flexibility to the environment is crucial. Suppose the people communicate to you that Chiwda is oily, or fattening, you have to have alternatives.
5. Setting and Executing Tasks
6. Options
7. Actions
8. Monitoring and Control
9. Monitor and modify
The difference between point 8 and this is that you change the parameters.
10. Long term is Strategy (War) and Short Term are the tactics. (Battle).
Have both short term and long term plans and execute them with due modifications.
Do comment on this post and share any experiences you had at Strategy.
(The frame work for the definition was from tutor2u.net)
By Ninad Tatke.
Defining Strategy -
Strategy is direction or scope of an organization over the long term which achieves advantage for the organization through its configuration of resources within a challenging environment to meet the needs of the markets and fulfill stake holders expectations.
Direction - Where is the business trying to get in the long term
Scope - Which markets should the business compete in. What activities can be done in those markets.
Advantage - How can the business perform better than the competitors in those markets.
Resources - What are the skills, finances, contacts, technical competencies required to compete.
Environment- What are the external factors affecting the business ability
Stakeholders - What are the values and expectations of those who are in or around the business.
Lets keep Chiwda as the product and the objective is to launch it in multiplexes.
Lets break it into 10 easy steps.
1. Setting Direction.
What do we want to achieve in the mindset of the consumers in terms of Chiwda is important here. Its not enough to say that we want to sell Chiwda. You got to clear on what you are communicating to the senses (emotion wise ) and(logic wise).
Chiwda emotional : Desi Chat /snack. Popcorn (Angrezi)
or
Chiwda logical : Popcorn outside Rs.15 vs inside Rs.70 - Chiwda outside Rs. 30 vs Chiwda Inside Rs. 50.
2. Concentrating Resources
Multitasking is good, but real work happens with focused behaviour. This needs to be planned and executed.
3. Maintaining Consistency
Everything needs to be measured. If it is found that consistency has dropped, the reasons for that in execution needs to be found and corrected. usually though not always, execution fails because people dont share the common vision.
4. Retaining Flexibility
Its good to have a plan. But flexibility to the environment is crucial. Suppose the people communicate to you that Chiwda is oily, or fattening, you have to have alternatives.
5. Setting and Executing Tasks
6. Options
7. Actions
8. Monitoring and Control
9. Monitor and modify
The difference between point 8 and this is that you change the parameters.
10. Long term is Strategy (War) and Short Term are the tactics. (Battle).
Have both short term and long term plans and execute them with due modifications.
Do comment on this post and share any experiences you had at Strategy.
(The frame work for the definition was from tutor2u.net)
By Ninad Tatke.
2 comments:
if people say chiwda is oily, ask them to use a spoon and for the ill mannered bib-lovers, you can provide tissues....;)
Yes we should. Thanks for commenting. Would love more thoughts.
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