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Creating Strategy in a Small Business

This session will be dedicated to the possibility that even small organizations can create and execute meaningful strategic plans. Creating a well defined strategy is hard work and not for everyone, as it requires us to begin to say "no" to stuff we usually say "yes" to. You are hereby invited to open a dialogue about how best to go about creating a strategy for your small organization by Ed Kless, Sage senior director of partner development and strategy, who will facilitate this session.

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Creating Strategy in a Small Business

  1. 1. C-185 Creating Strategy in a Small Business Ed Kless @edkless
  2. 2. CPE Credit • In order to receive CPE credit for this session, you must be present for the entire session. – Session Code: C-185 – Recommended CPE Credit = 1.5 – Delivery Method = Group Live – Field of Study = Specialized Knowledge and Applications • Visit the Sage Summit Connect kiosks to enter CPE credit during the conference. #SageSummit
  3. 3. How do you do it? What refusal have I been postponing? How long will it take? What is the commitment I am willing to make? How much does it cost? What is the value of it to me? How do you get those people to change? What is my contribution to the problem? How do you measure it? What is the judgment I need to make? How have other people done it successfully? What do we want to create together? How? Vs. What matters?
  4. 4. Strategy Staff Skills Structure Style Systems Shared Vision The Modified Seven S Model
  5. 5. The question is: What do you want to create? NOT How do I do it? or How have other people done it successfully?
  6. 6. Seven S Model Fundamentals Strategy Staff Skills Structure Style Systems Shared Vision
  7. 7. Strategy beliefs • Strategy is about analyzing your situation • Strategy is about what to do • Strategy is planning
  8. 8. Strategy realities • Strategy is more creative than analytical • Strategy is more about what to say “no” to • Strategy is execution
  9. 9. The MOASQ is: How much value are we going to create for our customers (in the period) and how are we going to do that? NOT How much revenue do we need to make (in the time period for the plan) and how are we going to achieve it?
  10. 10. 1001 Days of History 0 20 40 60 80 100 120 140 160 1 201 401 601 801 HappinessofTurkey Days of Life Thanksgiving
  11. 11. Strategic Triangle “Be better than the competition at what is important to customers.” Original 3C concept developed by Dr. Kenichi Ohmae Customer Company Competition Differentiation
  12. 12. The oldest and most basic strategic tool S W O T
  13. 13. Another simple, but better tool Start Stop Continue
  14. 14. Business Process We have known for years that: Employee satisfaction Customer satisfaction Financial performance
  15. 15. • Question 1 - How can we educate our people better than our competition in both technical and people skill areas so that they will be more valuable than their counterparts at other companies? • Question 2 - How can we become more valuable to our customers by listening to the them and understanding their market, and applying the two together? • Question 3 - What three things would you change about your company’s practices and policies?
  16. 16. Marcus Buckingham’s 12 Statements • I know what is expected of me at my job. • I have the materials and equipment I need to do my job right. • I have the opportunity to do what I do best every day. • In the last seven days, I have received recognition or praise for doing good work. • My supervisor seems to care about me as a person. • There is someone at work who encourages my development. • At work, my opinions seem to count. • The mission/purpose of my company makes me feel my job is important. • My co-workers are committed to doing quality work. • I have a best friend at work. • In the last six months, someone has talked to me about my progress. • In the last year, I have had opportunities to learn and grow.
  17. 17. Fred Reichheld’s Ultimate Question What is the likelihood that you would recommend our product/service to a friend or colleague?
  18. 18. Financial Customer/Market Internal Business Practices Learning and Growth Balanced Scorecard Perspectives
  19. 19. Self assessment Develop a list of tactics Decompose that strategy into tasks by perspectives Build a strategy map Develop metrics Balanced Scorecard Process
  20. 20. Balanced Scorecard Metrics • Learning and Growth – Certifications – Who has what skill – skill matrix – Participation in local commerce meetings – Number of hours spent on employee education
  21. 21. Balanced Scorecard Metrics • Internal Business Process – Frequency of Billing – Days outstanding in AR – % of satisfaction survey completed – Employee satisfaction
  22. 22. Balanced Scorecard Metrics • Customer/Market Focus – Customer Growth Index – Customer satisfaction scores – Repeat Business Rate
  23. 23. Balanced Scorecard Metrics • Financial – Cash flow coverage – Net Profit Margin – Gross Profit Margin – Cost of Sales – not product cost – RPE – Growth in RPE
  24. 24. Apple Google Microsoft HP IBM - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 0% 5% 10% 15% 20% 25% 30% 35% R e v e n u e p e r E m p l o y e e Net Income Percentage
  25. 25. The Big Three
  26. 26. What to Do Next • If you are not going to commit to something, do nothing • Research various strategic planning tools (aka diets) and decide to which one you can commit • Commit! Commit! Commit!
  27. 27. Ed Kless edkless.com @edkless

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