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Innove strategydiscussion
- 2. 2© 2013 Bloom Health. All Rights Reserved
Strategy – The Master Plan
• We need to break The Master Plan down into decisions that drive your
organization
• Breaking Down Strategy results in “Making Choices”
• Answer to these Questions will be the framework for your Strategy.
– What?
– Who?
– How?
– When?
• A Clear Understanding of the following will make your strategy successful
– Stakeholders/Customers
– Market Landscape
– Economics
- 3. 3© 2013 Bloom Health. All Rights Reserved
The Broad Idea
• We develop the Strategy
• What is it?
• What is the Goal? (Why are we doing this or considering this?)
• Who is it for?
– Why do they want it?
– What benefits does it provide them?
• What benefits does it provide our business?
– Revenue
– Self Supporting Model
– Market Advantage
- 4. 4© 2013 Bloom Health. All Rights Reserved
Defining The Strategy
• What do we want and when? (Timelines, etc.)
– What gaps is our concept filling?
– How do we differentiate?
– How does this change our business? – market impact
• What is the impact of our go to market strategy?
– Define by Channel
• Distribution
• Employer Segment
• New Business
– What is the value proposition? Does it change the current vp?
– Who are the customers for the concept and target market? (profile)
• Why are they going to purchase from us? At what cost?
• Is this sustainable? Why or why not? If not, how long and what is
next?
- 5. 5© 2013 Bloom Health. All Rights Reserved
Defining The Strategy
• What is the experience / product (high-level)
– How will this work?
– Describe the features and benefits
– Impact to:
• Operations, Technology, Sales
• Talent required to manage this
• Culture impact to the business
• What regulatory / legal issues do we need to address?
• Dependencies on this strategy
• Risks / barriers to this strategy
– Market?
– Business?
– Technology?
- 6. 6© 2013 Bloom Health. All Rights Reserved
Stakeholders
• Who?
• Why are they a stakeholder?
• What needs do they have?
• How are those needs solved?
- 7. 7© 2013 Bloom Health. All Rights Reserved
Market Landscape
• Who is doing this? (Top 3-5)
– Why?
– What is their value proposition?
– Do they still have an advantage? Why?
• What is the likely competitive reaction?
– What are the threats?
• Why is this the right time to launch this now?
– Drivers of the market
• What barriers / obstacles do we have in doing this?
- 8. 8© 2013 Bloom Health. All Rights Reserved
Economics
• What will change in our cost structure
– Build cost, maintain cost, staffing, marketing, etc.
• What will change in our revenue
– How do we make revenue
• Pricing Strategy
• How do we compare to the competition?
– When do we make revenue
• Forecast
– Market Opportunity
– Our share expected
– Revenue and cost drivers
– Investment Needs (over what period)
– Other major cost areas (people, process, technology)