Session 5 - Leadership and Strategic Management

Company Description
You have the business idea for a product or service – so state explicitly who you are and what
you want to achieve. The following questions should help you to make your company explicit:
Develop a Vision for your Vision

business.
What is your aspiration and
what do you want to achieve
with your company?
(State the main advantages
and the benefits of your
product or service for the
customer! Explain in 7 words
or fewer what you want to
achieve!)
Remember the action
principles when you think
about the vision for the
business.
• be brief and clear (about 7
words)!
• be challenging and future
oriented!
• be imaginable!
• be desirable and have the
ability to inspire!
• stress values that are
important for the receiver!
• depict a positive and general
/ abstract image of the
projected product, service
and/or organization!
• can stress differences to
your competitors!
• make the eyes of your
receivers sparkle!
How do you want to achieve Mission Statement

your Vision?
(Translate your Vision into
actions what you are going to
do in order make the Vision
come true!)
Action Working Sheet 08 – Business Strategy - 33 -

Bicol University & Leuphana University │STEP – Student Training for Entrepreneurial Promotion
Business Strategy
Developing a strategy for your business is not a complicated matter. Try to answer the following
questions and the answers will be the basis for your business strategy! This section will help
you to identify a competitive advantage and suggest actions you have to take to survive and
grow in your market.
Product Attribute Map
Take two attributes from the Competitor Profile Matrix (see Action Working Sheet 05 –
Competitor Analysis) that are most important for customers when they make the purchase
decision. Replace “Attribute 1” and “Attribute 2” in the following figure with your personal most
important attributes. Then use the blue dots to illustrate where your competitors are positioned
(C1 – C4). Add more dots if you have more competitors or remove dots if you have less
competitors. Use the red dot to position yourself (Me). Is there an overlap with some
competitors or do you have a unique position? If there is a significant overlap – re-think your
concept or think about other attributes where you have a unique selling proposition and
emphasize those attributes for your product / service! You will only have a competitive
advantage over your competitors when your position is unique and does not overlap with any
competitor.
Attribute 2
1
1 2 3 4 5 Attribute 1
C C C C Me
4 4 4 4

SWOT-Analysis
Review the Competitor Profile Matrix (Action Working Sheet 05 – Competitor Analysis) and list
your strengths and weaknesses! On what attributes are you scoring high (your strengths)? On
what attributes are you scoring low (your weaknesses)?List additional strengths (e.g., particular
resources such as skills, equipment, contacts, information, etc.) and weaknesses (e.g., lack of
resources, bad economic situation, etc.)!
Review the Trends and Future Developments (Action Working Sheet 06 – Industry Analysis)
and list potential threats and opportunities that might arise from the trends and future
developments! List additional threats and opportunities you can think of for your business!
Threats are for example: Entry of new competitors, weak economy, costly new regulatory
requirements, change in buyer needs, trends, fashions, or technology. Opportunities are for
example: New trends or new technologies, new foreign markets due to falling trade barriers,
internet bandwidth, alliances.
Derive goals and actions plans from the SWOT-analysis! State what you have “to do” to prepare
for the future! The SWOT-analysis will help you to take actions to survive and grow in your
industry.
Opportunities Threats
1. 1.
2. 2.
3. 3.
… …
Strengths To Do To Do
1. 1. 1.
2. 2. 2.
3. 3. 3.
… … …
Weaknesses To Do To Do
1. 1. 1.
2. 2. 2.
3. 3. 3.
… … …

What is your competitive Your Competitive Advantage
advantage?
(Take a look at your Product or
Service Analysis, your Product
Attribute Map, and your
SWOT-Analysis and state
explicitly your competitive
advantage! For example, do
you offer at a cheaper price, a
better quality, or a product /
service no one else is
offering?)

Operations Plan
You have a great idea for a product or service? This section should help you formulating how
you are going to produce the product or deliver the service. What materials and what steps are
necessary to make your product or service – or in short: how and where are your products
produced? Answer this question along the following points:
What materials and equipment do you Input Factors

need for your business?
(List and describe the following points you
need to produce your or product or
service:
 Raw materials and the suppliers
(names, credit policies) and back-up
suppliers that deliver these materials
 Equipment (e.g., tools, machines,
technology, computers)
 Premises (required space, facilities,
buildings!)
If you have personnel, provide job Responsible Actors / Staff

descriptions and the functions of your
personnel! List the staff working. Describe
their jobs: What are they doing? What are
they responsible for, who is responsible
for what?
How is your product or service produced? Production Processes

(Describe the process how all the input
factors come together to transform the
raw materials into your final product!
Make sure to mention the following
points:
 Do you transform the raw materials
into the final product yourself? If yes,
describe how you will do it and how
the necessary equipment comes in! If
no, describe how you will outsource it!
 Provide an operations flow chart (use
an extra sheet) that depicts what
materials are processed when and
how.
 If you offer a service you can depict
or describe how you are going to
interact with the customer instead of
describing your production flow!
Some of these points might not apply to

your business. Choose the points you

need to describe how and where you are
going to produce your product or service
and add points that specifically apply to
your business, for example special
customer services you offer on top of the
product!)
What is your final product / service? Outputs and Performance Indicators

Describe the final good and performance
indicators you put in place!
What are your performance standards

regarding quality? What are your
performance standards regarding time?
How long does it take to produce your
product and how many units are you
going to produce per day / month / year?
How are you going to store your

products?
How you are going to deliver your product Interaction with Customers, Delivery & Payment
/ service?
(Describe how you deal with customers!
Describe how your final product or service
reaches the customer. Do you sell it
yourself? By what means? Do you use
retailers or wholesalers? What means of
transportation do you use to ship your
product? What are the details of
payment?)
How will you ensure quality control in your Quality Control

operations / production process? What
standards will you put in place? How do
make sure that your products or services
maintain a high level of quality?
Describe your performance measures
and your way of reporting to monitor and
control the quality of your products or
services!
What problems may hinder the production Potential Problems and Preventive Measures
process? What are your back-up plans to
keep the production process going?
(Describe potential problems and how
you are going to deal with problems!
Explain what you would do to counter the
problems and to keep the production and
delivery going! Problems might be delay
in supplies, power cuts, or rush-orders)


Session 5 - Leadership and Strategic Management

Uploaded by

Copyright:

Available Formats

Session 5 - Leadership and Strategic Management

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Session 5 - Leadership and Strategic Management

Uploaded by

Copyright:

Available Formats

Company Description

Develop a Vision for your Vision

How do you want to achieve Mission Statement

Action Working Sheet 08 – Business Strategy - 33 -

Product Attribute Map

Action Working Sheet 08 – Business Strategy - 34 -

Action Working Sheet 08 – Business Strategy - 35 -

Action Working Sheet 08 – Business Strategy - 36 -

What materials and equipment do you Input Factors

If you have personnel, provide job Responsible Actors / Staff

How is your product or service produced? Production Processes

Some of these points might not apply to

Action Working Sheet 08 – Business Strategy - 37 -

What is your final product / service? Outputs and Performance Indicators

What are your performance standards

How are you going to store your

How will you ensure quality control in your Quality Control

Action Working Sheet 08 – Business Strategy - 38 -

You might also like