IKEA- planning

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Seminar in Strategic-3 Management-V3B

Ajay K. Garg

604-648-4495

[email protected]

Executive Summary

An executive summary is a brief section at the beginning of a long report, article, recommendation, or proposal that summarizes the document.

It is not background and not an introduction.

People who read only the executive summary should get the essence of the document without fine details.

The executive summary is concise, typically one to two pages long, and presents the main points in a formal tone.

For example, a business plan for an external audience includes financial information and details on the size and scale of a company.

Startups seeking funding and investors treat the executive summary as a way to get the reader’s attention by highlighting specific financial requirements and how it impacts the business strategy.

Summarize the information you’re presenting in a manner that keeps the reader engaged and motivated to continue reading. 

Introduction

Introduction: 

The opening statement, paragraph, or section should clearly state the document’s purpose and the content to follow.

Deciding on how to use this section comes down to the desired outcome for the reader or audience.

They want to immediately find value in the information you present, so the details included in the introduction should grab and hold the reader’s attention.  

Company Information

Company Information: 

When writing an executive summary for an external audience, include your company name, a description of your mission or purpose, contact information, location, and the size and scale of your operations.

In some cases, the summary introduces the founders, investors, and corporate leadership.

It might include background information of each that outlines previous industry or startup experience, or historical context on the current state of the company.

When used in a presentation or research report, introduce the team presenting or responsible for the report’s findings.

Products and Services

Products and Services: 

The executive summary is the place to highlight the problem you solve or the need you fulfill.

For a report, this is where you might highlight what you researched and what the reader should know about your findings.

For marketing plans or product launch presentations, tell the reader why your service or product is relevant at this particular moment in time.

Market Analysis

Market Analysis: 

The executive summary of a business plan might profile the target customer and explain the market opportunity for a product or service.

Consider answering questions like: Is there a five year plan for this market?

How do you anticipate growing the customer base and improving market share?

What stands out from your research about your customers that the reader should know before you summarize the rest of the business?

Competition Analysis

Competition Analysis: 

This section should include answers to the following questions:

What is the competitive advantage of your proposed solution or product and who or what do you compete with in this market?

What are the opportunities now and in the future?

What are the risks in your market and your product or service?

Do you have relevant experience with major competitors?

What are the future plans for growth and what obstacles do you anticipate addressing?

Financials

Financials: 

The executive summary might summarize key financial data that is relevant to the reader or data that supports your research.

If the purpose is to seek funding, include the specific amount you are requesting here.

Be sure to provide context for the financial data or any number you highlight in the executive summary.

This section is a great way to highlight growth, or to use metrics to provide perspective on the company.

Conclusion

Conclusions: 

Recap your findings, the problem and solution discussed, or the project and work proposed.

If there is a decision the reader or your audience needs to make, ask about it.

Make the outcomes obvious, but leave enough intrigue for the rest of the content to follow.

Organizational Culture

Visible elements – symbols, rituals, stories, artifacts, myths

Cultural elements – norms, values, expectations

Philosophy and values

Formalizing Goals and Objectives

Goals – Open Ended

Objectives – SMART

Specific, Measurable, Attainable, Realistic, Time-bound

Measuring what data is needed and how it is recorded

Financial Component

Costs for any changes in plan

Current revenue streams

Current vs Projected Costs

Increases in salaries and benefits

Additional money due employees

Equipment and supplies

Individual capability vs contracting for services or products

Financial projections – educated guesses

Break Even Analysis

Use example of providing a conference

fixed vs. variable costs

Forecasting Revenues

Historical data

Application of statistical and mathematical processes

Rural City Exercise

Put numbers 1 to 29 on board

Ask students to select a number and put their names next to the number

Identify positions – pro change, against change, neutral; government and not government

Rural City 2

Rules:

Government is to plan how to address process of

planning

Collaborative process – involvement of different stakeholders

How decisions will be made

The planning group can ask citizens what they want

The citizens can develop their own plan for getting

what they want

Each group can “spy” on other group

Rural City 3

Have class break up into:

Government

Non-government

Have government people leave room to plan how to address the issue listed on the sheet

Provide 60 minutes for government to determine how to present the process to the citizens

Writing the Plan

Identify who will write plan

Different from strategic planning group

1 or 2 people responsible for actual writing

Develop process for review and approval

Planning Committee responsible for moving process forward

Format: Summary

Why the organization exists (its mission) ?

What the organization expects to accomplish (its goals)

How it expects to accomplish its goals (its objectives and its strategies).

Written to guide organization toward the future.

LENGTH OF PLAN (Variable)

Short plan

Mission of organization

Medium plan

10 – 12 Pages

Items in short plan

Long plan

12 – 40 Pages

Items in medium plan

Long and short term priorities

Short synopsis of core strategies

Less than 10 pages

Program and organizational goals

Appendices with environmental assessments, stakeholder surveys, input processes

Executive summary

History of organization, with its profile

Strategic issues

Core strategies

Mission vs. Vision

Vision Statement

Mission Statement

Vision in three to five years

Mix of products and/or services

Prioritize products and services

Picture of success

Impact of success on industry

Why organization exists?

Problem it is solving?

Who is affected by the problem?

How are they affected?

Are there needs that the organization resolves?

What is its business?

What is its primary service or product?

What are its basic values and beliefs?

What are there basic assumptions the organization operates under?

APPROVAL  IMPLEMENTATION

- Committee established protocols for approval

- Once completed, plan sent to executives of organization

- Development of operational plans – one year plans

- Contains specifics of milestones to be met each year

EVALUATING THE PLAN

Enough guidance for short-term & long-term priorities?

How resources will be allocated?

Individuals responsible for the implementation understand the plan as written?

Does the plan address the external environmental issues?

Does the plan address the internal environment?

Is the plan the result of a consensus process?

Is there commitment from the organization’s leadership and members?

CONTINOUS IMPROVEMENT

Customer satisfaction

Data

Measurement systems

Analyzing results

Process for preventing errors

Strategic Planning and Paradigm Shift

Shift from one way of thinking to another

Long range planning is shift for most organizations

Review

Terms:

Strategic plan

Operational plan

Vision

Mission

Goals

Objectives

Strategies

Review 2

Terms Continued

SWOT Analysis

PEST

Porters Five Force Analysis

Gap Analysis

Stakeholders

Interest Groups

Review 2

Terms Continued

Mandates

Paradigm Shift

Collaborative Process

Effective

Efficient