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Strategy Planner

Big Store

LearnInHub Template#SP01

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Table of Contents The three musketeers .................................................................................................................................................. 4

Vision ........................................................................................................................................................................... 5

VISION STATEMENT (Big Store): .............................................................................................................................. 5

VISION STATEMENT ................................................................................................................................................. 5

Mission......................................................................................................................................................................... 5

MISSION STATEMENT (Big Store): ........................................................................................................................... 5

MISSION STATEMENT .............................................................................................................................................. 5

Goals ............................................................................................................................................................................ 6

GOAL STATEMENT (Big Store): ................................................................................................................................ 6

GOAL STATEMENT ................................................................................................................................................... 6

Bring the change .......................................................................................................................................................... 7

Let us do the change analysis ...................................................................................................................................... 8

Purpose .................................................................................................................................................................... 8

Tasks to do: .............................................................................................................................................................. 8

Big Store Change Analysis ........................................................................................................................................ 8

Your turn: ................................................................................................................................................................. 9

Strategy is the key ..................................................................................................................................................... 10

Strategy Mapping ...................................................................................................................................................... 11

Purpose .................................................................................................................................................................. 11

Tasks to do: ............................................................................................................................................................ 11

A. Big Store Strategic Objectives ........................................................................................................................... 11

a. Your turn ........................................................................................................................................................... 12

B. Big Store Strategy Mapping ............................................................................................................................... 13

b. Your turn ........................................................................................................................................................... 14

Measure what you treasure ...................................................................................................................................... 15

From Objectives to Key Measures ............................................................................................................................. 16

Purpose: ................................................................................................................................................................. 16

Tasks: ..................................................................................................................................................................... 16

Big Store KPIs ......................................................................................................................................................... 17

Your Turn ............................................................................................................................................................... 18

No stopping here! ...................................................................................................................................................... 19


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Add targets ................................................................................................................................................................ 19

Target and Threshold Setting .................................................................................................................................... 20

Purpose .................................................................................................................................................................. 20

Tasks to do: ............................................................................................................................................................ 20

Big Store KPI Targets and Thresholds .................................................................................................................... 20

Your turn ............................................................................................................................................................... 21

Deadlines will keep it running ................................................................................................................................... 22

Deadlines and Initiatives ............................................................................................................................................ 23

Purpose .................................................................................................................................................................. 23

Tasks to do: ............................................................................................................................................................ 23

Big Store Deadlines and Initiatives ........................................................................................................................ 23

Start with measurement planning & implementation .............................................................................................. 25

APPENDIX 1 ........................................................................................................................................................... 27

Note: This document makes use of the Balance Score Card methodology to derive KPIs for the given goal.


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The

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Vision Definition of Vision

A statement describing what the organization wants to achieve in the future i.e. Destination/ desire

VISION STATEMENT (Big Store): To be world's most customer-centric company.

Write your Vision Statement below:

VISION STATEMENT

Mission Definition of Mission

The statement of purpose of any organization. What do you do+ Whom you do this for+ Why do you do it? E.g. to

provide products, services and solutions of the highest quality, and deliver more value to customers that earns their

respect and loyalty

MISSION STATEMENT (Big Store): To build a place where people can come to find and discover anything they might want to buy.

Write your Mission Statement below:

MISSION STATEMENT

Note: Refer excel workbook/ pdfs for checklists and decision tree matrix if you want to choose one from several Statements.


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Goals Definition of Goal

Business goals are the broad level primary, tangible outcome of the organization, aligned to the mission. They provide specifics about how much of what will be accomplished and by when.

GOAL STATEMENT (Big Store): To increase new customers base on our online platform by 50% in next 1 year.

Write your Goal Statement below:

GOAL STATEMENT


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Bri

ng

the

chan

ge


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BRING THE CHANGE

Let us do the change analysis Purpose: To find out what do you need to do to achieve your goal

Tasks to do: 1. Write down the pain points in current state under each of the four perspective

2. Write the desired state against each of the points you just wrote.

Big Store Change Analysis GO TO STRATEGY MAPPING SHEET

Perspective Current State Desired State

Financial No online sales Increase online sales

Online site visits are very less in comparison to brick and mortar customer footfall

Increase online customer base


Customer Only electronic items and books sold To become a supplier for variety of products- Diversification


Processes & Products/ Services

High downtime of online portal Reduce the downtime to minimum


Learning and Growth

IT services dependency on vendors Create own IT unit with developers


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BRING THE CHANGE

Your turn: GO TO STRATEGY MAPPING SHEET


Financial


Customer


Process & Products/ Services


Learning and Growth


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Stra

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key


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STRATEGY IS THE KEY

Strategy Mapping Purpose: To document what is to be done to reach the desired state and to link all the objectives together so

that they align with the single goal.

Tasks to do: A. Writing the strategic objectives: Verb+ Adjective+ Noun (action+ description+ result)

B. Mapping the strategic objectives with each other (requires team effort)

C. Convert each objective into a statement as well, so that you can understand it at a later point in time.

A general thumb rule: Three to four objectives for each perspective

A. Big Store Strategic Objectives

REFER CHANGE ANALYSIS TABLE

Perspectives Desired State Objectives

Financial Increase online sales Increase+ monthly+ sales by 20%

Increase online customer base Increase+ monthly+ subscription rate by 20%

Customer To become a supplier for variety of products

Increase launching of new products every quarter by 15%


Reduce the downtime Decrease the portal downtime by 80%

Learning & Growth Creating own IT unit with developers

Increase IT developers count to 50 by EOQ


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STRATEGY IS THE KEY

a. Your turn REFER YOUR CHANGE ANALYSIS TABLE

Perspectives Desired State Objectives

Financial

Customer


Learning & Growth

Note: In MS Word, add more rows by selecting a cell and right click> Insert table> choose from the options


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STRATEGY IS THE KEY

B. Big Store Strategy Mapping

Perspectives Objectives

FINANCIAL

Wh

at

the

org

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ivin

g

CUSTOMER

PROCESS PRODUCT SERVICES

Wh

at

the

org

is p

rov

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LEARNING AND GROWTH

So, we can read this map as follows:

Big Store will invest in IT unit to make the online portal user friendly and reduce downtime, this will also help in

showing to masses, the increasing numbers of new products that Big Store plans to launch every quarter with an

objective to increase online business and sales.

Increase monthly sales

Increase monthly subscription rate

Increase launching of new

products

Decrease portal downtime

Increase IT developers count


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STRATEGY IS THE KEY

b. Your turn

Perspectives Objectives

FINANCIAL

Wh

at

the

org

is

re

ce

ivin

g

CUSTOMER

PROCESS PRODUCT SERVICES

Wh

at

the

org

is p

rov

idin

g

LEARNING AND GROWTH

Note: you can insert boxes or add cells in the table. Boxes help in getting a hierarchical view of objectives.

Read you map:


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Note: In MS Word, add more rows by selecting a cell and right click> Insert table> choose from the options

M

easu

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MEASURE WHAT YOU TREASURE

From Objectives to Key Measures

Purpose: To monitor how well are we doing in meeting the objectives.

Tasks: 1. List down measures that will be SMART

2. Align and prioritise measures against each objective. A good way to do that is with the help of KPI

Tree.

A general thumb rule: Three to four objectives for each

perspective and two- three KPIs for each objective

Both the above steps can go simultaneously, order is not necessary. You

may want to check existing standard KPIs used in the industry. Also keep

in mind what you can measure, and hence you can derive your own

customized measures as well.

Fig. Sample KPI Tree


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Big Store KPIs

Perspectives Objectives Enablers Tactical Enablers KPIs

Financial 1. Increase monthly sales by 20%

Grow number new of transactions per month

More new customers visiting and buying

Sales Average Order Value Conversion rate

Repeat customers New customer orders vs. returning customer orders

2. Increase monthly subscription rate by

20%

Expand reach

New subscribers Subscriber growth rate Subscriber Churn rate


Customer 1. Increase launching of new products every quarter by 15%

Suppliers Sustainability Quality

Count of new suppliers Product count / supplier Complaints/ supplier

Website Engagement Number of online transactions for new products

Products Product count Planned vs. Actual Products added pe month

2.


Process & Products

1. Decrease portal downtime

Maintenance Preventive maintenance

Server Downtime PM Compliance MTBF


Learning & Growth

1. Increase IT developers and testers count

Hiring more staff Planned vs. actual hired

Training existing staff

Enrolling in degree programs

Planned versus actual enrolment Planned vs. actual degree holders


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Your Turn


Financial 1.

2.

3.

4.


Customer 1.

2.

3.


Process & Products

1.

2.

3.


Learning & Growth

1.

2.

3.


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ADD TARGETS

Target and Threshold Setting Purpose: To set the quantifiable target and limits to evaluate, monitor and ascertain that you are in the right

direction

Tasks to do: A. Writing the strategic objectives: Verb+ Adjective+ Noun

B. Mapping the strategic objectives with each other

To define targets, you may make use of benchmarking, or baselines

if you have your own reliable data.

Big Store KPI Targets and Thresholds Some of the examples taken from the KPI list:

Perspective Objectives KPIs Target Upper Limit

Lower Limit Remarks, if any

Financial Increase monthly sales by 20%

Sales Average Order Value

$5000/ month $100

- -

$5000/ month $100

Customer Increase launching of new products every quarter by 15%

Count of new suppliers Average Product count / supplier

50/ month 75/ supplier

70/ month -

30/ month 65/ supplier

Process & Products

Decrease portal downtime by 80%

Server Downtime PM Compliance

15% 95%

20% 100%

- 90%

Learning and Growth

Increase IT developers count

Planned versus actual enrolment%

95% 100% 90%


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ADD TARGETS

Your turn

Perspective Objectives KPIs Target Upper Limit Lower Limit Remarks, if any

<Choose any one for the exercise>


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Dea

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ill k

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g


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DEADLINES AND INITIATIVES

Deadlines and Initiatives Purpose: To document how are we going to fill the gaps and by when.

Tasks to do: 1. Set deadlines for each of the objectives

2. Write down the actions that will be taken to achieve the objectives.

Initiatives are key action programs or projects that are performed

to achieve objectives.

Big Store Deadlines and Initiatives

Some of the examples of initiatives as follows:

Perspectives Objectives Deadlines Initiatives

Financial Increase+ monthly+ sales by 20% Negotiate with suppliers

Introduce offers for items with higher AOVs

Increase+ monthly+ subscription rate by 20%

Customer Increase launching of new products every quarter by 15%

MM-DD-YYYY Create an innovation and development committee

Process & Products

Decrease the portal downtime by 80%

MM-DD-YYYY Create a dedicated maintenance team

Learning & Growth

Increase IT developers and testers count to 50 by EOQ

MM-DD-YYYY Create a pool of existing employees to upgrade their skills as a developer

Hire new developers and testers in IT team


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DEADLINES AND INITIATIVES

Your Turn

Perspectives Objectives Deadlines Initiatives

Financial

Customer

Process & Products

Learning & Growth


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Star

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ell done for coming up with the strategies,

objectives and KPIs. Now is the time you must detail out each KPI and create a

Measurement Plan. These KPIs should also be registered in the KPI library which will be helping you in future

selections and making changes whenever required at an org level.

Along with KPI description (a measurement plan), you must also be planning, and tracking the initiatives as

planned above.

W


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APPENDIX 1 KPI Description Template

Objective name

KPI Name

Calculation Formula

Measures used in the calculation

Data source Frequency Targets Owner Updater Scope


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