Strategy and Leadership PV237 Ing. Michala Homolova, MBA. Strategy and Leadership PV237 • Strategy ➢ Things to know so you are not left out from strategic conversations Testing the quality of abstract concepts such as mission and vision, creating your own Tools to employ for analysis in the strategy setting process (SWOT, PEST(EL)) Porter’s five generic strategies, BCG Matrix ➢ ➢ ➢ Strategy and Leadership PV237 Management & LEADERSHIP Why are we here Lasting Purpose MISSION Management & LEADERSHIP What’s important to us Our culture VALUES Picture of what we want to be in the future VISION How do we get there/ Business model/ Competitive Advantage STRATEGY BALANCED SCORECARD What do we measure Change Management/ Top down cascaded SMART goals / Competencies/ Training/ Compensation EXECUTION Strategy and Leadership PV237 Management & LEADERSHIP MISSION Enable students to become first class leaders and people managers VALUES Freedom, Courage, Transparency, Respect VISION Students equipped with tools and lived-in concepts STRATEGY Workshops, brainstorming, strategic game, coaching BALANCED SCORECARD Completion criteria EXECUTION Challenging, Engaging, FUN Management & LEADERSHIP Mission and Vision Mission = purpose Vision = direction Mission and Vision In theory: Mission: lasting broader purpose beyond just making money, generally abstract and cannot be achieved, only pursued Vision: compelling picture of the future that supports the mission, specific destination that is concrete and achievable In practice: The NASA’s Vision: We reach for new heights and reveal the unknown for the benefit of humankind. The mission of The Walt Disney Company … is to be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world. Mission and Vision In practice, companies often go for either Vision or Mission and don’t necessarily make that distinction. Mission and Vision Brainstorming: What are the characteristics of a good vision and mission statement. Work in groups, get wild, brainstorm, choose 4 to 8 you’d evaluate yours against. Breaking abstract to concrete Spider net visual tool Source: http://bluesummitstrategy.com/vision/the-7-cs-of-powerful-vision/2007/ Values Values - behavior standards that help set company culture Exercise: Write down the ones that come to your mind – if it were your company, what would be important? Put it together in groups, indicate number there where a particular value appeared repeatedly. Put it on whiteboard as a group, create a wordle as homework – you will need it for final presentation Assignment 2 ● Rename your Glo-bus company Submit first sharp decision round – consider what strategy you are going to pursue, your company mission, vision, and values when making decisions ●