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Strategy
1. 1
In Garment Industry the long term positive
result is gradually sinking in performance
relating to the competition. Bearing in mind,
this article offers a systematic and common
sense tactic for evolving Organisation and
individual Strategy- Finding success Path.
The simple question behind developing the
organisation & individual Strategy - "How are
you going to win in the forthcoming period?"
You need a game plan for winning whatever
worthy. Apply the professional sports team
similar idea to your organization, department,
team and yourself.
It is essential to use your talent and resources
to best advantage, else it's difficult to "win".
You must fuel POWER / ENERGY for operational
excellence to live in global race.
Do, full diagnostic of operations. A diagnostic
is a core element of a healthy business case
for investment in operational growth. An
expert in your company or a consultant can
deliver a full analytic of operations, which will,
a. Identify & accurately assess potential cost
savings and productivity gains,
b. Recommend how you can help business
growth without extra full time equivalent.
c. Laying bare the weakness in present set-
up (notice on something that was not
earlier known or kept secret)
Approaches to Strategy:
Your goal & profitability is vital taking into
consideration on current global competitive
environment. A department objectives will
have a different scope from total objectives
of your organization as a whole.
Ex. depending on scope and circumstances,
you may want to develop strategies to:
• Increase profitability.
• Reduce rework / rejection.
• Increase the buyer satisfactions.
• Execute the orders within your
budget.
Identify the internal & external environmental
factors to pick your strategy that affect you.
With that understanding, you can identify
your clear advantages and use these to be
successful. Then, you can make informed
choices and well implement your strategy.
So, strategy creation is a 3 stage process:
• Analysing your operating
environment.
• Identifying strategic options.
• Evaluating & selecting the best
options.
Implementing Strategy:
Look at these processes, and review some
useful tools that help develop your strategy.
Is your team heading in the right direction?
Does objectives reflect your definite vision?
Will daily events help you achieve that vision?
Are people working together for the same
aims?
These questions are relevant for you since,
often they get pushed into the background.
Generally, we focus on daily activities that
lose pathway of our original business plan.
Hence, Strategies become out of work, vision
and mission statements lose weight, tactics
may not lead to the results want & you may
not realize that you have changed direction
inadvertently.
The following five tools should be well-aligned
for any organization to be successful.
1. Vision – This is your organization's purpose,
in terms of its values or how it goes about
2. 2
doing business. It should inspire
employees, and help buyers understand
why they wish to use your company
products or services.
2. Mission – This is your organization's
purpose, but expressed in terms of key
measures that must be reached to
achieve your vision.
3. Objectives – These are specific goals that
must be met to achieve the mission.
4. Strategy – This is the overall plan you'll
follow to meet your objectives.
5. Tactics – These are specific sets of actions
needed to execute your strategy.
These 5 tools serves two purposes.
First, it helps you re-connect to your business
vision, and highlights any problem areas that
you need to address.
Second, helps you create and evaluate plans
for the future. You can make sure that they
are aligned with your future vision.
Looking from top down, you need alignment
since a clear vision drives the mission – which,
in turn, lets you set your objectives or goals to
achieve that mission. You design strategies to
meet your objectives, & you implement your
strategies with specific tactics or activities.
Looking from bottom up, your tactical actions
should fulfil your strategies, which help meet
your objectives, which help achieve mission,
which, in turn, helps you realize company's
overall vision.
Key Points:
Your strategy tells you how you'll achieve
success, no matter how that success is
defined. The process is as important as the
outcome, when developing a strategy at the
personal, team or organizational level.
Find your unique capabilities, & understand
how to practice these to your advantage
while minimizing threats. The process and
tools found above help you find range of
potential strategies for success, you can
finally choose the one that's right for you.
Apply This to Your Life:
Practice strategy development by thinking
your own, personal circumstances. Complete
the analyses below to think on your personal
way forward. Some key questions to consider:
• What are your personal strengths,
weaknesses, opportunities or threats?
• What are your "core competencies"?
• What are you capable of achieving if you
put your mind to it?
• What are the "big picture" trends in your
view?
• How can you monitor the external factors?
• Who are the people key to your success?
• What options do you have?
• Which of these should you consider?
It's a simple 5-step framework that's robust
enough to make higher billion dollar decision.
To develop a winning strategy, you need to
answer the following five questions in order:
1. What is our winning aspiration?
2. Where will we play?
3. How will we win?
4. What capabilities must we have i to win?
5. What management systems are required
to support our choices?
The Five Choices:
3. 3
This process is built on a set of five integrated
choices. "These choices and the relationship
between them can be understood as a
reinforcing force, with the choices at the top
of the waterfall setting the context for the
choices below, and the choices at the
bottom influencing and refining the choices
above."
1. What is our winning aspiration?
Define strategically your and company’s
purpose, determine what specific victories
would lead to its ideal future. If you aren't
trying to win, and just trying to join in, you are
wasting the time of your people and the
money of your investors.
Most companies have desires, usually framed
as a mission statement and vision. These
artifacts are useful to strategy, but often they
are abstract and lack context; they paint a
pleasant picture of a possible happy future
that makes no reference to competition,
buyers or winning. Organization must seek to
win in a particular place and in a particular
way, translating the abstract happy future
into defined winning desires to sustain.
Winning aspirations look different in different
industries, because winning is different for a
consumer brand than for a market research
division. Every company can conceptualize
what it means to win. Take that market
research department, for example. Winning
could mean being the service provider of
choice for its internal customers (as opposed
to the mandated and much-maligned
choice). It might mean becoming a trusted
advisor to organizational leaders, or owning
the most sophisticated and successful suite of
consumer insight tools in the industry. But it
should be more than simply ‘to serve the
needs of internal customers’. That would be a
recipe for poorness rather than a true winning
aspiration. When an organization sets out to
play, rather than win, it doesn’t invest suitably
and rarely makes the truly hard choices.
Simply put, if an organization doesn’t set out
to win, it rarely does.
2. Where will we play?
This second choice finds exactly where the
product or company will play?
You can't win the whole world or please
everybody. Trying to be all things to all
people is a recipe for failure. Strategically
narrow the field to the geographies,
demographics, and channels where your
company is most competitive, and can get
the best possible results.
This question defines where the organization
will play in which markets, with which
customers, in which channels, product
categories, & at which vertical stages of its
industry. In short, where to play represents the
set of choices that narrow the competitive
field. An organization can be narrow or
broad in its where-to-play choices. It can play
in diverse demographic parts & geographies
(local, national, international, by regions and
countries). It can choose to compete across
any number of services, product lines and
categories. It can participate in different
channels. It can participate in just one stage
of production in a given industry or be
vertically integrated. These choices, taken
4. 4
together, represent the strategic playing field
for an organization.
The choice of where to play is actually the
careful consideration of a set of possibilities
together. For instance, a hospital might
choose to have a narrow geographic base if
it also chooses to offer a broad array of
general services to its community. But if the
hospital were to choose to specialize – say, in
cancer care or pediatrics — it would likely
need to have a much broader regional or
even national catchment. If the service
offered was healthcare for rural communities
in a wide but sparsely populated area, it is
unlikely that choosing to offer all services from
a single large building somewhere in that
region would work; likely a distributed model
of drop-in care across diverse communities
would be worth considering.
3. How will we win?
This question must be answered with a clear
value proposition and a path to competitive
advantage.
This choice is intimately connected with the
earlier opinion. It's deciding how to create
unique value, and how company can deliver
it over a long period to create a more return.
4. What capabilities must be in place? What
core abilities that are going to enable to win?
The task here is to define the activities and
competencies that support the where-to-
play and how-to-win choices. In order to
make the above decisions work, they have to
be based on and supported by the things
that a company's best at.
What management systems and measures
are going to help me execute?
Likewise, strategists must define the systems,
structures and measures required to support
the choices. This framework can be applied
at all levels, including the organization level,
strategic group or, as in the example above,
the single business unit. Clearly, the choices
need to support each other among the
different levels. Strategies have to be
measured and executed by individuals.
Companies have to decide who they need,
how to enable them, and how they can tell
whether the strategy's succeeding.
Many books dedicated to the five-choice
framework. There are two more additional
tools to support the strategic choice process.
The first is a structured methodology for
analyzing the company — specifically its
industry, customers, relative position to
competitors and the potential competitor
response to your strategic choices. The
second offer a "reverse engineering" process
to test potential strategic choices.
Once you've replied each question, be
prepared to revisit earlier questions to refine
your answers.
Applying the Five Steps:
Strategy is a struggle for too many leaders.
Though different strategy tools are available,
strategy can seem mysterious and scary, with
huge rewards for success, tragic implications
for failure and many unknown dangers lurking
along the way.
That needn’t be the case, because we
believe strategy can be defined and created
using a single, simple framework. It can be
understood as the answer to five questions –
5. 5
the same five questions, no matter the type,
size or context of the organization:
1. What is your winning aspiration?
2. Where will you play?
3. How will you win?
4. What capabilities must be in place?
5. What management systems are required?
The answers to these questions are the basic
choices every leader must make to craft a
successful strategy. Make no mistake about
it, strategy is choice; it is a set of choices
about what you will do, and what you will not
do so, so as to create advantage over the
competition. We dig into each of the five
questions that make up the framework for
successful strategy.
Aim for fitful operations in 100 days plan!
Focus on 100 day plan bringing new business,
growing revenues and improving profitability,
Ensure that operation supports the promises
made by marketing, so they (operation) eye
more mainly,
How much thought is placed on the
operation areas? (Since operation create
potential sustainable growth).
So to be able to say at the end of your first
three months, this is where the business is
today, this is where I’m going to take it, & this
is what I’m going to do to make it happen,
it’s vital to have clear insight into your
operational capabilities.
6. 5
the same five questions, no matter the type,
size or context of the organization:
1. What is your winning aspiration?
2. Where will you play?
3. How will you win?
4. What capabilities must be in place?
5. What management systems are required?
The answers to these questions are the basic
choices every leader must make to craft a
successful strategy. Make no mistake about
it, strategy is choice; it is a set of choices
about what you will do, and what you will not
do so, so as to create advantage over the
competition. We dig into each of the five
questions that make up the framework for
successful strategy.
Aim for fitful operations in 100 days plan!
Focus on 100 day plan bringing new business,
growing revenues and improving profitability,
Ensure that operation supports the promises
made by marketing, so they (operation) eye
more mainly,
How much thought is placed on the
operation areas? (Since operation create
potential sustainable growth).
So to be able to say at the end of your first
three months, this is where the business is
today, this is where I’m going to take it, & this
is what I’m going to do to make it happen,
it’s vital to have clear insight into your
operational capabilities.