Join Mike Figliuolo for an in-depth discussion in this video Determining core competencies, part of Strategic Planning Fundamentals.
- One large aspect of strategic planning,…is deciding where you will or will not compete.…A way I encourage organizations to think about that…is to look at their core competencies.…A core competency is something your organization…is great at.…I know your organization is probably good…at a lot of things.…But what are the two things you would hold up…and say we're better than anyone else…at these two competencies?…Allow me to offer a few examples.…
Core competencies could be things like…the quality of your product,…your ability to innovate,…the efficiency of your supply chain,…the strength of your brands,…your technology infrastructure.…There are a lot of things that you could be good at,…so take a step back and say,…how do we compete in the marketplace?…Allow me to offer a couple of examples.…Starbucks.…I would argue that their two core competencies…are the quality of their product and their service.…
Procter and Gamble.…Their core competencies would be marketing…and product development.…And their primary competencies are the ones…
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- Avoiding strategic planning risks
- Assessing the market
- Conducting a SWOT analysis
- Defining your direction, mission, and vision
- Determining core competencies
- Evaluating and prioritizing opportunities
- Assessing your initiatives
- Organizing for success
Skill Level Appropriate for all
1. Before You Begin Planning
2. Defining the Strategic Environment
3. Setting Your Strategic Direction
4. Determining How You'll Compete
5. Evaluating and Prioritizing Opportunities
6. Assessing Your Initiative Portfolio
Using a 2x2 matrix2m 56s
7. Organizing for Success
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