A great presentation from Lore.com Management of innovation community http://lore.com/Management-of-Innovation.1/library

1. Defining GOALS
© David O’Sullivan
4-1

2. Goal Planning
4-2

3. Environment Analysis
4-3

4. PEST Analysis
4-4

5. PEST Analysis
4-5

6. Porter’s
Five
Force
Model
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7. Benchmarking
4-7

8. SWOT Statements (Sun Hotel)
• Strengths
– Family tradition
– Many years of experience and culture of hospitality among staff
– Multicultural staff
• Weaknesses
– Old infrastructure
– Weak marketing
– Aging (retiring) management
– Lack of experience in international cooperation
• Opportunities
– City plans new annual festival to increase tourist market.
– City has great tourist potential.
– Government is expected to launch business expansion tax incentives.
• Threats
– New hotels and hotel chains in city
– More demanding business travelers
– Health and safety legislation
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9. Other Statements
• Statements is to communicate key
messages and beliefs across the
organization that will guide the
behavior of all members
• Examples include
– Mission
– Vision
– Safety
– Quality
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10. Stakeholders
5-10

11. Stakeholder Requirements
5-11

12. Voice of the Customer
• Prioritise
– What are top 10 or perhaps top 2-3 per group
• Render statements to 60/100 characters!
• Begin with ‘Action verb’ ...
Achieve, avoid, communicate, consolidate, control, coordinate, create,
cut, delegate, develop, eliminate, engage, establish, expand, extend,
gain, identify , implement, improve, increase, institute, lead, maintain,
manage, mentor, motivate, obtain, organize, plan, preserve, produce,
promote, reduce, represent, research, scale, select, shape, supply,
support, transfer, undertake, unify, utilize, withdraw, …
“Achieve more consistent response times for purchased orders”

13. Strategic Objectives
• Two basic elements
– Thrusts
– Objectives
• Often the terms ‘strategies’ and
‘objectives’ are interchangeable
• Sometimes the term ‘decisions’ is
used
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14. Thrusts
5-14

15. Strategic Thrusts - example
• Capacity
• Facilities
• Technology
• Vertical integration
• Workforce
• Quality
• Planning
• Organization
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16. Strategic Thrusts - example
• Learning and Growth
• Customer
• Internal Processes
• Finance
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17. Objectives
• Statement of organisational goals
• Strategic ‘Decisions’
• Statement on the allocation of
resources (people and money)
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18. Decisions
• Strategic • Tactical
– Broad in Scope – Narrow scope
– Long Term – Short term
– Encompassing – Specific
– Empowering – Enabling
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19. Attributes
• Objectives provide GUIDANCE for change
over 1/2/3 years
• Objectives are dynamic and receptive to
change
• Objectives are pro-actions not reactions
• Objectives should not replace intuitive
thinking
• Objectives only identify most significant
issue. Other issues will also exist.
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20. Generic Objectives
• cost leadership objectives
• differentiation objectives
• focused (niche) objectives
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21. Performance Indicators
• Measurable way of
defining &
monitoring
progress
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22. Macro Measures
• Cost
• Quality
• Time
• (Flexibility)
• (Environment)
• (Culture)
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23. Indicator Attributes
• Related directly to strategies
• Repeatable over time
• Fosters improvement
• Reliable and verifiable
• Maximum number of measures
• Simple and easy to use
• Provide fast feedback
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24. Examples
• Operations
– Productivity (hours/unit)
– Throughput (units per day)
– Utilization (output/capacity)
• Sales and Marketing
– Sales per region
– Sales per model
– Marketing costs
• People
– Labor turnover
– Overtime
– Absenteeism
• Research and Development
– R&D expenditure
– Failure rates
– Additional revenue created
• Environment
– Emissions
– Scrap and wastage
– Accidents
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25. Innovation Indicators
• % Revenue attributable to recent innovations
• % Ideas migrating to approved projects
• % Staffs involved in projects
• % Strategies without projects
• Cost–benefit ratio of the portfolio undertaken
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26. Performance Charts
6-26

27. Outcomes vs. Drivers
• Reflect the results or • Reflect how to drive the
outcomes of strategies outcomes to be achieved
• Also called “lagging • Also called “leading metrics”
metrics” (show past (show early signs of
performance) strategy success)
• Examples: profitability, • Examples: cycle time,
market share, customer defect rates, efficiency,
satisfaction. performance versus plan
6-27

28. Balanced Scorecard
Perspectives Objectives Indicators Targets
Firm Stretch
Financial Maximum Returns Return on Equity 12% 13%
Utilization of Assets Utilization Rates 7% 8%
Revenue Growth % Change in Revenue +11% +11%
Customer Customer Retention Retention % 75% 75%
Customer Service Survey Rating 85% 88%
Customer Relations % Self Initiated Calls 35% 40%
Internal Processes Fast Delivery Turnaround Time 15m 14m
Effective Service 1st Time Resolution 0.68 0.69
Optimal Cost % cost of sales 66% 64%
Resource Utilization Productivity Indicator 77% 80%
Learning & Growth High Skill Levels Skill set ratio 65% 68%
Employee Satisfaction Survey Index 75% 77%

29. Academic Sample
Objectives Indicators Targets
Research Enhance supports for staff to bid successfully for research funding Publications 140
Create and Expand research partnerships w ith other Universities and Industry Funding Acquired €1.6k
Disseminate Develop training opportunities for graduate students Proposals €4.6m
New Knowledge Enhance graduate student engagement in teaching
Develop graduate school(s)
Hire staff in line w ith research funding priorities
Teaching Promote teaching modules across disciplines Undergraduate Intake above 360 points 260
Improve Review and revise credit allocations against learning outcomes Taugh Postgraduate Intake 240
Learning Engage all teachers in effective teaching methods International Graduate Intake 60
Outcomes Develop and enhance pre-University activities for students
and Experiences Promote learner engagement - attendance, PEP, CKI, clubs&soc
Develop effective teaching evaluation process
Increase lifelong opportunities in distance and blended learning
Internal Implement a w orkload model for the College Cost Avoidance €0.4k
Processes Migrate to new engineering building Budgets
Utilise and Lobby the University to designate funding for capital equipment.
Improve Develop greater access to research and teaching information.
Resources Enhance bi-lingual signage and usage in communications.
and Processes Enhance use of electronic and paperless communication
Improve compliance to information guidelines and policy
Engagem ent Greater interaction betw een Discipline Heads (DH) and staff College Meeting Attendance 60%
and Grow th Develop mentoring scheme for new er members of staff Student Assessment Audits 75%
Engage and Greater involvement of staff in policy making.
Empower Staff Regularise meetings betw een college and UMT
Enhance communications w ith students
Represent CoEI values in staff promotional schemes