Strategy Formulation for Family Businesses
by Mr. Nathaniel Lim
Workshop Description
Planning for the future is essential for family businesses. Towards developing the family business corporate strategic plan, this two-day workshop will enable the family to go thru the Strategy Formulation Process. Ateneo FBDC shall guide family businesses thru Setting Vision-Mission-Values, Performing External and Internal Analysis, Identifying SWOT, Setting Long Term Corporate Goals/Objectives, Identifying Strategy Options, and Formulating Corporate Strategies.
Duration
2 workshop days + 1 half-day for pre-workshop family briefing
Workshop Outcome
Upon completion of workshop, family businesses will have a formal Corporate Strategic Plan, which will guide the business in the next 3-5 years, depending on the timing horizon set.
Topics/Sessions
Pre-Workshop Family Briefing session (1-3 hours)
Day 1 Morning session
- the process of developing vision-mission-values
- ideal components of mission statements
- benefits from clear vision-mission-values
- major external forces that affect organizations; the STEP-C
- Identifying Key Success Factors
- key sources of external information
- monitoring external trends and events
- using Porter’s Five-Forces Model
- gathering competitive intelligence
- developing a Competitive Profile
Day 1 Afternoon session
- the Resource-Based View
- interrelationships among the functional areas of business
- the Functional Area Approach
- basic functions or activities of each functional area
- understanding and identifying competencies, distinctive competencies, competitive advantage, and shortcomings
Day 1 Evening session
Day 2 Morning Session
- characteristics of objectives (SMART)
- types of objectives (strategic / financial; long term / short term; corporate / functional)
- some relevant strategies (intensive strategies)
- some analytical tools for strategy options (SWOT matrix, Key Factor Matching)
Day 2 Afternoon session
Planning for the future is essential for family businesses. Towards developing the family business corporate strategic plan, this two-day workshop will enable the family to go thru the Strategy Formulation Process. Ateneo FBDC shall guide family businesses thru Setting Vision-Mission-Values, Performing External and Internal Analysis, Identifying SWOT, Setting Long Term Corporate Goals/Objectives, Identifying Strategy Options, and Formulating Corporate Strategies.
Duration
2 workshop days + 1 half-day for pre-workshop family briefing
Workshop Outcome
Upon completion of workshop, family businesses will have a formal Corporate Strategic Plan, which will guide the business in the next 3-5 years, depending on the timing horizon set.
Topics/Sessions
Pre-Workshop Family Briefing session (1-3 hours)
- Workshop description / What’s in store for you
- Outcome of engagement / FBDC deliverables
- Expectations from participants / Managing expectations
- SFFB Workbook
Day 1 Morning session
- VISION, MISSION, AND VALUES
- the process of developing vision-mission-values
- ideal components of mission statements
- benefits from clear vision-mission-values
- ENVIRONMENTAL ANALYSIS: THE EXTERNAL ENVIRONMENT
- major external forces that affect organizations; the STEP-C
- Identifying Key Success Factors
- key sources of external information
- monitoring external trends and events
- using Porter’s Five-Forces Model
- gathering competitive intelligence
- developing a Competitive Profile
Day 1 Afternoon session
- ENVIRONMENTAL ANALYSIS: THE INTERNAL ENVIRONMENT
- the Resource-Based View
- interrelationships among the functional areas of business
- the Functional Area Approach
- basic functions or activities of each functional area
- understanding and identifying competencies, distinctive competencies, competitive advantage, and shortcomings
- putting it all together via THE SWOT ANALYSIS, a useful tool to environmental analysis
Day 1 Evening session
- Crafting the Vision-Mission-Values statement
Day 2 Morning Session
- Presentation of crafted Vision-Mission-Values statement
- Review of THE SWOT ANALYSIS
- SETTING CORPORATE GOALS / OBJECTIVES / KRAs
- characteristics of objectives (SMART)
- types of objectives (strategic / financial; long term / short term; corporate / functional)
- IDENTIFYING CORPORATE STRATEGY OPTIONS
- some relevant strategies (intensive strategies)
- some analytical tools for strategy options (SWOT matrix, Key Factor Matching)
Day 2 Afternoon session
- FORMULATING/CHOOSING YOUR CORPORATE STRATEGY
