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Common Sense Strategic Planning Greg W. Gilstrap Regional President & Publisher Madden Preprint...
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Transcript of Common Sense Strategic Planning Greg W. Gilstrap Regional President & Publisher Madden Preprint...
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Common Sense?“Common sense is the knack of seeing things as they are, and
doing things as they ought to be done.”- Josh Billings
“It is a thousand times better to have common sense without education than to have education without common sense.”
- Robert Green Ingersoll
“Common sense is instinct. Enough of it is genius.”- George Bernard Shaw
“Common sense is genius dressed in working clothes.”- Ralph Waldo Emerson
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Strategy?
“Perception is strong and sight weak. In strategy, it is important to see distant things as if they were close and to take a distanced view of
close things.”- Miyamoto Musashi (legendary 1600’s Japanese swordsman)
“The goal is not to develop ‘perfect’ strategies, but to develop strategies that take us in the right direction, and then progressively
refine them through rapid experimentation and adjustment.”- Gary Hamel
“Our business strategy is not to compete.” - Eric Schmidt
“However beautiful the strategy, you should occasionally look at the results.”
- Winston Churchill
Discussion Overview• Why everyone needs a Strategy• Who should lead it• Tips to developing and implementing a
winning strategy• Q and A
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Why?
• Private Sector– Create and/or maintain a profitable, competitive
advantage that can be sustained– Create organizational focus– Make critical choices
• Public sector (CVBs, State Tourism Office, etc.)
– All of the above– Make tough decisions– Defend tough decisions– Manage relationships
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Making Tough Decisions
Number of good ideas facing typical DMO
Number of good ideas typical DMO can effectively implement given current resource level
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Who Should Be On The Strategy Team?• Those who have the most to win and/or lose• Those whose support will be needed• Those who play the most critical implementation roles• Those who best understand the competitive environment• Those who are willing to check self-serving interests at
the door• Someone who can distance themselves from the emotion
of the issue and isn’t afraid to call things as they see it• Strategic thinkers
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Who Should Lead?
Respected &Trusted Insider Non-Biased Strategic Outsider
• When times are good• The future is bright• Competition is non-existent or
easily defeated• Support is in order, and• The team has demonstrated an
extended history of working well together
• When times are challenging• The future is uncertain• Competitive threats are
rampant• Support is in jeopardy, and/or• The team has not
demonstrated a significant history of working well together
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Who Should Make Final Decisions?• Those who have the most to win and/or lose• Those whose support will be needed• Those who play the most critical implementation roles• Those who best understand the competitive environment• Those who are willing to check self-serving interests at
the door• Someone who can distance themselves from the emotion
of the issue and isn’t afraid to call things as they see it• Strategic thinkers
Common Sense Strategic Planning Tips
• Disclaimers– Not intended to be an exhaustive list– Not in rank order, but if you follow this advice you
will dramatically enhance the chances that you end up with a winning strategy
– Lots of bias built in – don’t hesitate to ask me where it comes from
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Tip 4
Rome wasn’t built in a day – so why would you try to do something as important as a strategy in a single session
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Simple and brief
Detailed
Vision & mission
Goals Objectives Strategies & Tactics
Implementation Plan
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Tip 6
Don’t remove or eliminate the ability, of those charged with implementation, to be
creative or innovative
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Simple and brief
Detailed
Vision and mission
Goals Objectives Strategies & Tactics
Implementation Plan
Strategic Planning Team
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Work From Top To Bottom1. Vision and mission
2. Goals
3. Objectives
4. Strategies & Tactics
5. Implementation Plan
But, Make Sure Everything Reports Up
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20 / 80
80 / 20Pareto or Juran Principle
“Vital few and trivial many –
1940s”
“A mathematical formula to describe
the unequal distribution of wealth
in Italy in 1906.”
http://management.about.com/cs/generalmanagement/a/Pareto081202.htm
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Tip 9
See things as they are, how they soon will be
and how they are likely to remain for an
extended period
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Principles Of Good Strategy
• Competitive advantage
• Profitability
• Sustainability
• Significant barriers to entry
• Ability to beat new competitive threats
• Differentiation
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Avoid Differentiation For Differentiation’s Sake
“Many people may be interested in visiting a farm as a tourist, and they
may be interested in staying in unique places, but that doesn’t mean many want to sleep with pigs and sheep.”
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Tip 12
Don’t let a focus on measurable results,
which are good, eliminate an emphasis
on intangibles
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Tip 13
Start with the strategy, be hesitant (yet willing)
to change it and practice continuous improvement
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Develop, retain and grow forms of competitive advantage that result in desirable and sustainable levels of profitability.
Research and
Planning
Sales and Marketing Product development and positioning
Product delivery and customer service
Accomplished through the successful management of the of
the virtuous business cycle
Customer targeting and segment prioritization