Aligning business activities to a company's vision and strategy is essential to ensure operational excellence. At the same time, changes in the competitive landscape will undoubtedly put pressure on the leadership to constantly adjust their strategy. How do leaders balance developing a strategic plan with continually adapting to the external environment? This two-week advanced course is designed for top-level executives who want to master that balancing act.
In the first week, participants will learn to anticipate and respond to market, industry, and competitive landscape changes using advanced strategic frameworks. The second week of the course is built around the Balanced Scorecard framework. Participants will learn how to design, implement, and monitor strategic plans aligning with the organization's vision, mission, and objectives. Participants in this course will be able to pinpoint the real reasons behind long-term strategic performance and will be able to replicate this success in their organizations.
Course Methodology
This is an advanced leadership course that is facilitated over two weeks. The course uses interactive and hands-on techniques and several case studies on strategic thinking and planning aspects.
Course Objectives
By the end of the course, participants will be able to:
Recognize the importance of adaptive strategic thinking for organizational sustainability
Identify the different paths to achieving a sustainable competitive advantage
Use adaptive strategic frameworks to analyze internal and external environments
Apply the future toolkit for long-term forecasting
Identify essential elements of a corporate culture that promotes robust strategy execution
Explain the benefits and importance of a Strategy Focused Organization (SFO)
Develop a strategic plan for their organization
Apply best-in-class benchmarking techniques to set targets for each KPI
Design a balanced scorecard based on the Kaplan and Norton model
Develop, evaluate, select, and review the performance of strategic initiatives
Target Audience
Top-level leaders and executives involved in charting and supporting the execution of the company’s plans to achieve its strategic goals and objectives.
Target Competencies
Strategic thinking
Competitive analysis
Using adaptive frameworks
Innovation
Driving customer value
Strategic planning
Performance management
Goal setting
Developing KPIs
Results orientation
Course Outline
Week 1: Adaptive Strategic Thinking
The strategy-focused organization: Adaptive strategic thinking
The 20-mile march
Murphy’s law
The three main strategic questions
Strategic thinking versus strategic planning
The blind men and the elephant
Strategy and the quest for competitive advantage
What distinguishes excellent companies?
Strive to be the industry’s low-cost provider
Outcompete rivals on a key differentiating feature
Focus on a particular market niche
Develop capabilities not easily imitated by rivals
Using adaptive strategic frameworks
Adaptive strategic frameworks
Impact of Porter’s five forces
Using the SWOT matrix
Fundamentals of the PEDESTL framework
Creating and capturing value
Innovating using the strategy canvas
Future foresight
Black swans and wild cards
Weak signals
The Delphi method
Axes of uncertainty
Policy stress-testing
Backcasting
Building the strategy-focused organization
The most critical asset
Optimizing people processes
Streamlining processes
Optimizing information systems
Creating metrics
Week 2: Strategic Planning Using the Balanced Scorecard
The Strategy Focused Organization (SFO): Strategic planning
Principles of a strategy-focused organization
Strategy elements
Why implement the balanced scorecard
The strategic planning model
The importance of the balanced scorecard
Balanced scorecard steps and timeline
Developing a strategic plan
The purpose of a situational analysis
Situational analysis using the SWOT matrix
Definition of a vision statement
Importance of a structured mission statement
Goals, objectives, and targets
SMART objectives
Key performance indicators and Units of Measure (UOMs)
Aligning KPIs to company strategy
Benchmarking as a tool to set targets for objectives
Objectives and basics of benchmarking
The who, what, and why of benchmarking
Different methods of benchmarking
Whom to benchmark against
The benchmarking process
The balanced scorecard as a strategic management system
Strategic alignment and goal setting
Linking the balanced scorecard's KPIs to the strategy
Strategy map: Specifying relationships and making them testable
Managing initiatives
Reporting and evaluating results
Cascading the balanced scorecard
Developing, evaluating, and managing strategic initiatives
Identifying, evaluating, and selecting initiatives
Capital budgeting: Evaluating initiatives from a financial perspective
Accounting Rate of Return (ARR)
Payback Period (PP)
Cost of capital
Net Present Value (NPV)
Internal Rate of Return (IRR)
Planning and scheduling initiatives
Monitoring and measuring progress during implementation