Join Mike Figliuolo for an in-depth discussion in this video Focusing efforts based on competencies, part of Strategic Planning Fundamentals.
- Once you've identified your core competencies,…you should then look at the initiatives that you're thinking…about pursuing to determine what your approach should be.…This can mean markets you're thinking about entering.…Products or services you're thinking about launching,…or new capabilities you're thinking about building.…Let's look at an example.…Let's imagine Starbucks was conducting this exercise…and as we define their core competencies,…their primary core competency is the quality…of their product from low to high in terms of the relevance…of that competency in whatever initiative…they're thinking about pursuing.…
The second competency that we looked at…was their service delivery capability.…Again, that competency being low to high…in terms of it's relevance for pursuing an opportunity.…Let's evaluate some opportunities.…Let's say they were considering…launching a new holiday coffee drink.…Well, as we look at the access of product quality,…this would be their product that they're launching,…so it would be very high…
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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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