Your Business Vision and Mission
Brand Visions and Mission Statements
Once you have defined your organization’s vision and mission you need to have the ability to link it to the initiatives you are going to pursue. It also ends up just being away in the ether, and no one uses it, and you find yourself pursuing a strategy that’s inconsistent with where you are trying to go. So, how you do this is you first have to define your core competencies, since they will help you realize where you need to compete, and the sorts of initiatives you need to pursue. Second, you want to articulate a set of filters that are tactical, and those are the key seven or eight standards you are going to use for assessing initiatives to pursue, or not pursue. They will also help you articulate the reason for that initiative, and the way that initiative will get you from where you are now, to where you are trying to go as you attain your vision. When those filters have been developed, you want to run all of your initiatives through them to understand the relative priority of everything you are going to pursue, and that prioritization is subsequently likely to help you specify the organizational structure, in addition to the resources you’re likely to need to finish those initiatives. I said core competencies. Core competencies are what your company does better than anybody else, and it is only two that you are permitted to define. I know our teams are great a good deal of things, but it is tough to be great at lots of things, and by taking a look at the things that really distinguish your organization from your competitors, you are going to have the ability to identify those areas where you need to invest your funds for the maximum return.
So, I prefer to use very simple framework for analyzing how you need to pursue your core competencies and how they map into the initiatives that you are going to tackle. So, as I look at core competencies, I enjoy taking a frame that says,”Look at core competency one,”and our capacity to use that proficiency in the market place,”or pursuing the initiatives”which are on our prioritization list,”and taking a look at the ability to leverage it by a very low level to a very higher leveling terms of how applicable that proficiency is to the pursuit of the initiative. Then we look at our second core competency, which is not the dominant one, but it is the next most important one, and we believe it the exact same way, from low to high. Once we have done that, we could create a map for where we ought to pursue initiatives or not. For areas where neither competency is related to the pursuit of the initiative, you are in a zone of,”Don’t play. “You shouldn’t pursue initiatives where those core competencies aren’t relevant. For initiatives where the two competencies are highly irrelevant, you should be the natural owner of the initiative or that place on the marketplace. Then, on the off angles, there will be situations where your initial core competency is the most important, and you are likely to pursue those kinds of initiatives.
For places where your next core competency is relevant, you may think about those initiatives, but they are not likely to be as high priority as the ones that are leveraging your initial core competency of where you are the natural owner. So, permit me to illustrate. Let us imagine you have an organization in which both core competencies are building great consumer brands and having a excellent supply chain. Thus, if I have an initiative where I will create white-label products which don’t have a logo on them, and it is not a really supply-chain concentrated type of initiative, since it is a service more than it is a product, which would be,”Don’t perform,”since my brand is not relevant, and it does not go through my supply chain. But if I will start an initiative with a brand-new consumer packaged goods that is likely to be branded, and take our brand on it, and it goes through our current supply chain, which is very effective, I must be the natural owner of the class because my brand things a lot, and my supply chain matters a whole lot. So, as you are analyzing initiatives and looking at how your core competencies get involved, that view of these competencies can allow you to determine which initiatives are high priority and which ones you shouldn’t be considering. I said strategic filters. As soon as you’ve a fantastic sense of which initiatives are extremely higher priority, you want to do the following cut of prioritization. These strategic filters will be test criteria for looking at your own initiatives, and a few will be qualitative, and some will be qualitative. So, by way of instance, we might have tactical filters which say,”Does this initiative help us develop globally? “or,”Can it help us develop with a particular consumer segment? “Does this initiative advance our technology platform? “So, whatever criteria are most important to your company and the accomplishment of the organization’s goals. You could also have some quantitative filters such as the net present value of the initiative, or the return on investment of those dollars you place inland what you return from running that initiative. Thus, you will assemble this set of filters to evaluate those initiatives, and later you will run your entire initiatives through these filters to comprehend how they stack up relative to one another. As soon as you’ve done that, you have almost completed the strategic planning cycle.
You have set your plan by articulating your vision and your mission, you have understood where you play and where you do not play according to your core competencies, you will have articulated your tactical filters for assessing the initiatives you are going to pursue, and then prioritizing them. That consequent prioritization list must drive your organizational structure, and it must drive your source planning for how you are going to these initiatives done. As soon as you’ve defined that organizational arrangement, then you may begin considering the members of your group and where they best map according to their unique capacities within that organizational structure. Many times, we do this procedure in reverse, and we begin with,”Well, here are the people I have,”therefore, here is an organizational structure”which makes sense given those people and their abilities,”and based on that structure and those people,”here are the initiatives that I can pursue”since I have the abilities,”and so, if I pursue these initiatives,”here is my default strategy. “We end up having a plan that’s driven by the resources we have versus a plan that’s conscious of a vision that we are trying to attain. So, making certain you put plan, then evaluation of initiatives to drive organizational structure, then push your human resource planning, can help you attain the aims of that high performing group.