Fcmb march 2011 day 1 revised
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Transcript of Fcmb march 2011 day 1 revised
Strategy concept
Fixing strategy – operations misalignments
Application to FCMB – future planning-------------------------------------------------------Personal development plan
You are here
To become a more effective leader, I will…
Do more of…_______________________________________________________________________________________________
Do less of…_______________________________________________________________________________________________
Start doing…_______________________________________________________________________________________________
Stop doing…_______________________________________________________________________________________________
How we’ll not learn
Introduction (s)
Strategy in action
Break
The strategy concept
Strategy at FCMB
From strategyto action
Lunch
How strategy changes
Describe your customers. List ALL the benefits that your camera creates for them.
What must your company be good at doing so that you are able to create these benefits?
What tasks must you do inside your company, and what tasks should you hire others to do?
Which competitor(s) do you worry about, and in each case, why?
Segmentation
Generic strategy
Core competence
Value chain
Creating competitive advantage
Advantage preservation
Defining StrategyWhat Setting priorities about, and making choices for both the
present and the future
How Put into action through resource allocation and attraction
Constraints Under challenging conditions
* Imperfect information
* Environment of rapid technological advancement
* High chance of retaliation
Why To get competitive advantage
For (the customer segment we want to serve)
Who want (the outcome sought by that customer)
Our product or service is a (our part of the solution)
That features (key benefit provided).
Unlike (our main competitors)
Our product or service provides (key point[s] of difference)
As supported by (what makes the difference possible)
And protected by (why competitors cannot easily overcome it).
Strategy is often expressed this way…
Customer willingness to pay
Cost of delivering
what the customer buys
Strategy
Customer willingness to pay
Cost of delivering
what the customer buys
Strategy
Increases willingness
to pay?
Meets hurdle rate for capital?
YesDo it!
Yes
Decreases cost?
No No
Meets hurdle rate for capital?
Yes Yes
No
Teach
No
Implementation happen primarily by changing the allocation of resourcesconsistent with objectives
Any non-human assetof an organization thata manager can deploy
Brands, equipment, IP, licenses, machinery, information, etc.
Money
People Skills
Time Duration, sequence and project choices to which you apply the money and people that you have
Strategy
Actions taken to increase customer willingness to pay
And/or reduce cost.
Actions mean allocation and coordination of:
* Money
* People
* Time
Uniquely, as a system.
How does strategy help you?
What assumptions are you relying upon?
So sometimes, strategy must change
Source: Hamel, 2009
Exhaustion
Replication Supplantation
Evisceration
Even good strategies decay…
Major trends that will affect the Bank…
Political ____________________________________________________________________________________________________________________________________________________________________________________________________
Economic ___________________________________________________________________________________________________________________________________________________________________________________________________
Social ______________________________________________________________________________________________________________________________________________________________________________________________________
Technological ________________________________________________________________________________________________________________________________________________________________________________________________
Global ______________________________________________________________________________________________________________________________________________________________________________________________________
Rivals
Buyers
Suppliers
New entrants
SubstitutesSource: Porter, 1980
Think of a time in your entire experience with the Bank when you have felt most excited, most engaged and most alive.
What factors made this such a great experience?
Misalignment
Advice
Strategy must fit the future environment…
…while respecting what FCMB has become as a result of learning from its past, including successes and failures.
Let’s summarize
Tomorrow…