Strategy October 2013

Strategic considerations

by Toronto Training and HR

October 2013

CONTENTS5-6 Enabling strategic success7-9 Broad strategic styles10-11 Essentials to execute strategy12-13 Systemic strategic behaviour14-15 Five forces model of industry competitiveness16-17 Diffusion of innovation18-19 Why should an organization grow?20-25 Sustainable growth26-27 Funding and the location of R & D28-29 Developing or acquiring technology30-31 Resource integration in a new product launch32-33 Leadership development strategy34-35 Mistakes with leadership strategy36-37 Communicating strategy at the technical core38-39 Technology strategies in developing countries40-41 Strategic manufacturing priorities42-43 Questions to ask around HR strategy44-45 Anchor points for HR measurement46-47 Steps to strategy making48-49 Drill50-51 Conclusion and questions

Introduction

Introduction to Toronto Training and HR

Toronto Training and HR is a specialist training and human resources consultancy headed by Timothy Holden 10 years in banking10 years in training and human resourcesFreelance practitioner since 2006The core services provided by Toronto Training and HR are:

Training event designTraining event deliveryReducing costs, saving time plus improving employee engagement and moraleServices for job seekers

Enabling strategic success

Enabling strategic success

• Finance• Information• People• Technology

Broad strategic styles

Broad strategic styles 1 of 2

• Classical strategy• Adaptive strategy• Shaping strategy• Visionary strategy

Broad strategic styles 2 of 2

Adaptive Shaping

Classical Visionary

Essentials to execute strategy

Essentials to execute strategy

• Start with people• Establish a base level of

competence• Create coaching and

mentoring programs• Rebuild and re-engage

your execution support structure

• Focus on the business impact of development

Systemic strategic behaviour

Systemic strategic behaviour

• Seeking concentration• Seeking competencies• Seeking focus• Seeking an end game

Five forces model of industry

competitiveness

Five forces model of industry competitiveness

• Buyers• New entrants• Competitors• Substitute goods or

services• Suppliers

Diffusion of innovation

Diffusion of innovation

• Supply-side issues• Demand-side issues• The tipping point

Why should an organization grow?

Why should an organization grow?

• Generate superior value• Obtain a superior strategic

position• Raise profits• Attract superior people• Gain better access to

capital• Attract strong alliance

partners

Sustainable growth

Sustainable growth 1 of 5

KEY RESOURCES NEEDED• Strategic assets• Managerial talent• A talent incubator• Happy people• Networks/key strategic

relationships

Sustainable growth 2 of 5STRATEGIES TO INFLUENCE SUSTAINED GROWTH• Value through select

customers• Developing large numbers of

new products that offer superior value to customers

• Distribution innovation• Monopoly/first-mover

advantage• Growth by means of

acquisitions• Addressing new customer

segments

Sustainable growth 3 of 5GROWTH STRATEGIES• Customer centric• Product development• Distribution• First mover• Acquisition• Adjacent space• Market intelligence• Differentiation• Fitness

Sustainable growth 4 of 5GROWTH DRIVERS• Acquisitions• Strategy• Managerial talent• Excellent execution• Key strategic relationships• Leadership• Access to capital• Innovation• Focus on growth

Sustainable growth 5 of 5GROWTH DRIVERS (CONTINUED)• Happy people• Simple, captivating business

model• Knowledge of customers• Customer enthusiasm• Discipline• Geographical expansion• Effective performance

measurement• Talent incubator• GDP growth

Funding and the location of R&D

Funding and the location of R & D

Developing or acquiring technology

Resource integration in a new product launch

Leadership development strategy

Leadership development strategy

• Single loop and double loop• Tickets to enter, tickets to

play and tickets to win• VUCA• Questions to ask

Mistakes with leadership strategy

Mistakes with leadership strategy

• Failing to gain enough support from the CEO

• Confusing a leadership strategy with a succession plan

• Lacking a clear definition of what leadership means in the context of your business strategy and organizational model

• Ignoring the complementary power of the team

Communicating strategy at the technical core

Communicating strategy at the technical core

• Communicate strategic goals by their component pieces

• Constantly monitor and praise employees’ incremental contributions

Technology strategies in developing countries

Technology strategies in developing countries

• Context• Level of investigation• Focus of interest• Core theoretical foundation

Strategic manufacturing

priorities

Strategic manufacturing priorities

• High quality• Low cost• High dependability• High speed• High flexibility

Questions to ask around HR strategy

Questions to ask around HR strategy

• How do you manage talent?

• How do you engage in strategic business activities?

• How well do you measure HR effectiveness?

• What is your HR strategy?

Anchor points for HR measurement

Anchor points for HR measurement

• Efficiency• Effectiveness• Impact

Steps to strategy making

Steps to strategy making

• Frame a choice• Generate possibilities• Specify conditions• Identify barriers• Design tests• Conduct the tests• Make your choice

Conclusion and questions

Conclusion and questions

SummaryVideosQuestions

Strategy October 2013

Business

Transcript of Strategy October 2013