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Best practices in strategic planning

@Raker Kemenhub 17 Nopember 2017

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Best practices in strategic planning

  1. 1. 16 NOVEMBER 2017 Rapat Kerja Kementerian Perhubungan Best Practices in Strategic planning
  2. 2. 1 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Mind blowing rate of change To reach first 50 million users, Facebook needs 3 years and 8 months 50 connected devices per HH by 2022 vs. 10 devices today iPhone 7 is more powerful than the entire NASA organization in 1969 75% of all mobile commerce from tablets by 2-3 years 1.75B global smart phone users in 2014—75% increase from 2012 The data we have in 2 days is the same as the whole data in mankind until 2003
  3. 3. 2 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Institutions are less stable now Each line represents a firm's rank over time Example: Media Ranking by Net Sales Note: Data includes all US and Canadian public companies time 1.26 10.61 8.03Average sales rank change during "era"
  4. 4. 3 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Disruption is happening...including in transportation
  5. 5. 4 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Institutions are facing risks to sustainability in 3 ways Not seeing signals for disruption Seeing but not changing strategy Trying but failing to change strategy 321
  6. 6. 5 What happens to strategy and management if we can no longer reasonably forecast the future?
  7. 7. Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. 6 Companies can create a more effective annual process by applying a set of best practices Explore strategy at distinct time horizons Constantly reinvent and stimulate the strategic dialogue Engage the broad organization Invest in execution and monitoring
  8. 8. Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. 7 Companies can create a more effective annual process by applying a set of best practices Explore strategy at distinct time horizons Constantly reinvent and stimulate the strategic dialogue Engage the broad organization Invest in execution and monitoring
  9. 9. 8 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Principle 1: Expand strategy into various time horizons 1 Vision and Ambition >5 years Business Unit Strategy 3-5 years Annual Strategic Review 1 year Corporate • Analyze trends, articulate scenarios • Anticipate, be prepared ("Plan Bs") • Shape your future, influence the environment Business Unit • Define multi-year development plan at BU level • Set customer segment and geographic priorities • Develop innovation roadmap • Explore adjacencies and cross-BU opportunities • Explore partnerships and M&A opportunities Products Regions Functions • Monitor strategy execution • Assess changes in the environment • Articulate critical questions • Discuss discontinuities and options • Validate / resource plans and initiatives Besides, monthly strategic reviews with the Executive Committee is critical for fast adaptation and disciplined implementation
  10. 10. 9 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. The long term: First thing is to set up a Purpose for the company 1 1. Profit margins target varies across business segments; taken lowest and highest limit of ranges Source: company websites, press search “To build a place where people can come to find and discover anything they might want to buy online” “Caring for the world, one person at a time” “Sell Coca Cola within 50 meters of every single person on earth” “Caring for the world, one person at a time”
  11. 11. 10 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. The long term: Megatrends and Scenarios are of high value to identify long term opportunities and stress test the Vision 1 1. Clean-technology and energy revolution in transport. Increasing demand for integrated mobility services 2. China dominates the world economically, politically and industrially – Chinese players leading in rail 3. Increasing virtual interactions and communities, less people mobility and more local focus 4. Trade blocks explode, drop in global trade . Rise of protectionism and nationalism Source: BCG case experience BCG Megatrends library 4 stretched scenarios for the rail industry Analyze Megatrends Stress test Strategy with Scenarios 16 BCG tracks more than 90 trends across a range of topics... Platforms & Connectivity • Bandwidth • IT communities and Web 2.0 • New media • Networks • Convergence Technology Trends • Nanotechnology • New materials/substitutes • Mobile electronic devices • RFID and sensor networks • Wireless communication • Smart devices • Internet Access Life Sciences/ Healthcare • Healthcare spending • Biotech & proteomics • Nutraceuticals/functional food • R&D/Innovation challenge • Provider & payer trends Energy & Power • Energy scarcity • Alternative energy sources • Sustainable forms of transportation (e.g. fuel cell, hybrid, electric) Tech Trends Scarcity vs. Abundance • Waste/waste management services • Water scarcity Environmental crisis • Green products & markets • Global warming awareness • Carbon credits Contentment vs. Striving • Religion • Happiness • Business of pleasure • Psychotropic drugs • New communities Challenge of Governance • Privatization • Education & training focus • Shorter leader cycles • Multi-polarworld Risk & Security • Insurance losses • Failed states • Identity theft • Rise private security • Counterfeit • Rise natural disasters • Global pandemic risk Role of Business • Greater transparency Rise NGOs/non-profits • CSR • Extended enterprise Meta trends Economy & Employment • Value Migration/Rise of services • Outsourcing/Off-shoring • Consolidation/M&A • Productivity/Performance focus • R&D/Innovation imperative • War for Talent • Commoditization • New organizational structures Financial flows/Investment Instruments • Capital flows to developing countries • Rise in alternative investment vehicles (VC, hedge funds) • Socially responsible investing • Geographic distribution Trading Blocks & Flows • E-trade and e-commerce • Regional trade blocs Wealth Creation & Dispersion • Global divide/Wealth disparities • Off-shore investing • Creation of global elite Globalization • RDE challengers • Rise of China • Rise of India & new market leaders • Next Billion consumers • Rising middle class Econo Trends Demographics • Aging Population • Immigration/Ethnic diversity • Increased role women • Obesity and diet (lifestyle illness) Consumer Trends • Trading up/down • Sport & fitness (leisure trends) • Customization • Organic • Time compression- Multitasking • Entertainment/celebrity • Brand affinity • Health and wellness Mobility & Flows • International trade • Communications • Transportation • Infrastructure needs • Human mobility Closed vs. Opened Systems • Intellectual Property • New innovation models • Human genome project • Open source Centralized vs. Distributed • Urbanization • Grid computing/Intelligence Terra Trends Broad Scan Mission Mobility1 Dragon Corp.2 World @ Home3 Divided Nations4
  12. 12. 11 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. The long term: Vision and Mission should be translated into the various elements of the Strategy House 1 Purpose Vision Strategic pillars Strategic choices Strategic initiatives Enablers Goals and metrics • Reason-for-being • Universal and timeless • Aspirational statement of a desired future • Can vary over time, e.g. 2-3 year horizon • Desirable end-state outcomes which the businesses agree to achieve • Specific, tangible • A set of integrated decisions which position company to win and guide day-to day action • Where we will and will not play • Specific areas of action or investment that collectively drive to goals • Supportive actions or capabilities that are prerequisites for accomplishing initiatives • An outcome which is measurable, bounded by a timeframe, and links to one or more of the objectives
  13. 13. 12 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Growth framework: Three levers for growth 1 Maximize the core Expand into adjacencies Explore new frontiers (disruptive) 321 Source: BCG growth / transformation framework Improve execution Enhance offering Acquire / partner Reposition business Commercial quick hits Innovation M&A search and screen Business model innovation Organizational growth enablers Emerging markets Core and adjacent growth
  14. 14. 13 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Example for strategic initiatives for maritime ecosystem company 1 Maximize the core Expand into adjacencies Explore new frontiers (disruptive) 321 Source: BCG growth / transformation framework Improve execution Enhance offering Acquire / partner Reposition business • Asset utilization • Network optimization • Operational improvement • Consolidation & synergies • International port expansion • Inorganic/M&A • .... • .... • Sea transport e.g. shipbuilding, ship repair • Logistics e.g. warehousing, 3PL • Hinterland e.g. toll roads, railway • Business services e.g. hospital, education • .... • .... • Container sharing economy • Smart port e.g. autonomous transportation, IoT, AR • Big data commercialization • .... • .... • .... • ....
  15. 15. 14 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. The medium term: set up business unit strategy to realize the vision and create value Source: BCG case experience Define Strategic intent Identification of choices Assessment of options Select strategy 1 Diagnose strategic situation Frame strategic choices Industry dynamics Segmentation and evolution of demand Sources of competitive advantage Relative advantage and performance Competitors Company
  16. 16. Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. 15 Companies can create a more effective annual process by applying a set of best practices Explore strategy at distinct time horizons Constantly reinvent and stimulate the strategic dialogue Engage the broad organization Invest in execution and monitoring
  17. 17. 16 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Board Principle 2: The "W" approach for strategic dialogue 2 Q1 Q2 Q3 Q4 Board Meeting Plan Review Detailed Planning Target Setting Supervisory board meeting Business Units Before Board Business Units After Action plan and detailed financial trajectory Target setting/key questions Review # 1 Strategic dialogue & challenge Review # 2 Plans approval Supervisory board meeting Board Meeting Input from products Propose plans and options Input from functions
  18. 18. 17 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Systematic approach to always-on strategy is integrated with annual planning and has three key components 2 Q1 Q2 Q3 Q4 Annual Strategy making Strategy Development Challenge plan Approve plan Set targets Set long- term direction Corporate center Fine-tune plan Propose plan Iterate as needed Business units Always-on strategy Sense- & decision making Strategic scanning Implemt.mgmt Issue meetings Monitoring & steering of initiative implementation Prioritizing and resolving strategic issues Scanning for issues Iteration & decision-making opportunity Source: BCG
  19. 19. 18 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Strategic scanning: putting in place a radar function Technology Internal idea generation Mega-trends Business model innovations Adjacencies 2
  20. 20. Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. 19 Companies can create a more effective annual process by applying a set of best practices Explore strategy at distinct time horizons Constantly reinvent and stimulate the strategic dialogue Engage the broad organization Invest in execution and monitoring
  21. 21. 20 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Visioning Analysis of the environment Plan Definition Implementation Principle 3: Involve multiple stakeholders during strategy process Illustration: company vision exercise 3 Employees 1 – 2 months 1 – 2 months 1 – 2 months 1 month Interaction /Synthesis Interaction /Synthesis Interaction /Synthesis Interaction /Synthesis Clients Stakeholders Business Partners Source: BCG Case Experience
  22. 22. Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. 21 Companies can create a more effective annual process by applying a set of best practices Explore strategy at distinct time horizons Constantly reinvent and stimulate the strategic dialogue Engage the broad organization Invest in execution and monitoring
  23. 23. 22 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Principle 4: Invest in strategy operationalization 4 Client Strategic planning Strategic execution Strategic dialogue Strategic Planning Strategy execution Vision Ambition BU Communicate and mobilize Convert into operational initiatives Align incentives Resource and engage Define strategic dashboard Define key strategic questions; Design process Develop high level plan, articulate options Develop detailed strategic plans Approve plans, allocate resources to support plans Review, challenge, consolidate, approve high level plans
  24. 24. 23 Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved. Operationalization: illustration of good practices Define Strategy Communicate and mobilize Convert into operational initiatives Resource and engage Define strategic dashboard Align incentives Cascading memos Sales Operation Assets - Colleagues Process Customer COMPANY A STRATEGY COMMUNICATION Sales Operation Assets - Colleagues Process Customer COMPANY A STRATEGY COMMUNICATION N-1 Sales Operation Assets - Colleagues Process Customer COMPANY A STRATEGY COMMUNICATION N 10 CEO strategic initiatives KEY ROLLING CEO INITIATIVES – ILLUSTRATIVE 1 2 3 5 6 4 7 9 8 10 Name Objectives China and India Value added services Description Quality Commercial excellence Operational excellence Eastern Europe Customer intelligence Talent upgrade New selling model Cross-functional processes Project Management Office Managers bonus systems "Strategic dashboard" KPIs to track progress of each strategic initiative
  25. 25. 24 ” It is not the strongest of the species that survive, not the most intelligent, but the one most responsive to change.” Charles Darwin
  26. 26. 25 The services and materials provided by The Boston Consulting Group (BCG) are subject to BCG's Standard Terms (a copy of which is available upon request) or such other agreement as may have been previously executed by BCG. BCG does not provide legal, accounting, or tax advice. The Client is responsible for obtaining independent advice concerning these matters. This advice may affect the guidance given by BCG. Further, BCG has made no undertaking to update these materials after the date hereof, notwithstanding that such information may become outdated or inaccurate. The materials contained in this presentation are designed for the sole use by the board of directors or senior management of the Client and solely for the limited purposes described in the presentation. The materials shall not be copied or given to any person or entity other than the Client (“Third Party”) without the prior written consent of BCG. These materials serve only as the focus for discussion; they are incomplete without the accompanying oral commentary and may not be relied on as a stand-alone document. Further, Third Parties may not, and it is unreasonable for any Third Party to, rely on these materials for any purpose whatsoever. To the fullest extent permitted by law (and except to the extent otherwise agreed in a signed writing by BCG), BCG shall have no liability whatsoever to any Third Party, and any Third Party hereby waives any rights and claims it may have at any time against BCG with regard to the services, this presentation, or other materials, including the accuracy or completeness thereof. Receipt and review of this document shall be deemed agreement with and consideration for the foregoing. BCG does not provide fairness opinions or valuations of market transactions, and these materials should not be relied on or construed as such. Further, the financial evaluations, projected market and financial information, and conclusions contained in these materials are based upon standard valuation methodologies, are not definitive forecasts, and are not guaranteed by BCG. BCG has used public and/or confidential data and assumptions provided to BCG by the Client. BCG has not independently verified the data and assumptions used in these analyses. Changes in the underlying data or operating assumptions will clearly impact the analyses and conclusions. Copyright©2017byTheBostonConsultingGroup,Inc.Allrightsreserved.
  27. 27. bcg.com

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