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UNCOMMON PRACTICE : Strategy that works Elikem Nutifafa Kuenyehia July 26, 2007

UNCOMMON PRACTICE : Strategy that works Elikem Nutifafa Kuenyehia July 26, 2007. ROAD MAP. Set the context The Common approach The Uncommon approach Suggested approach Q & A. SETTING THE CONTEXT. WHAT IS STRATEGY?.

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UNCOMMON PRACTICE : Strategy that works Elikem Nutifafa Kuenyehia July 26, 2007

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  1. UNCOMMON PRACTICE: Strategy that works Elikem Nutifafa Kuenyehia July 26, 2007

  2. ROAD MAP Set the context The Common approach The Uncommonapproach Suggested approach Q & A

  3. SETTING THE CONTEXT

  4. WHAT IS STRATEGY? “Strategy is an approximate course of action that you frequently revisit and redefine, according to shifting market conditions. It is not nearly as theoretical or life-and-death as some would have you believe”.Jack Welch

  5. PURPOSE OF STRATEGY “The essence of strategy is not the structure of a company’s products and markets, but the dynamics of its behaviour.” Tom Peters

  6. 63% OF COMPANIES MISS STRATEGY TARGETS Research conducted by Markon Associates, Management Consultants

  7. STRATEGY ROAD MAP Develop Vision & Mission & VALUES Set Objectives Craft a Strategy to Achieve Objectives Implement & Execute Strategy Measure, Evaluate and course correct

  8. THE COMMON APPROACH

  9. THE COMMON APPROACH Disproportionate focus on development C-title driven Same voices….Same perspective Not enough buy-in Desktop management Lack of accountability Misalignment

  10. THE UNCOMMON APPROACH

  11. INTERNATIONAL EXAMPLES Virgin Google Starbucks Apple Marks & Spencer McKinsey Diageo

  12. LOCAL BEST IN CLASS EXAMPLES Origin8 Ecobank Travelking Unique Trust Tropical Cable Databank Kasapreko Amal Bank

  13. THE UNCOMMON APPROACH People at epicentre Passion & Fun Shared vision, mission & values Inspired leadership Engaged and supportive board Aligned strategy Decisions driven by customer Insights

  14. UNCOMMON PRACTICE Execution focused Measurement & Evaluation Clear trade offs & Focus on the knitting Dynamic……Anticipatory….Not Static

  15. SUGGESTED APPROACH

  16. SUGGESTED APPROACH Broaden the conversation Amplify the role of HR “Walk the talk”....execute!

  17. CONSISTENT WITH WELCH’s VIEW Approximate course of action Frequently revisit and redefine, according to shifting market conditions Not nearly as theoretical or life-and-death as some would have you believe

  18. UNCOMMON PRACTICE? “I used to think that marketing was the most important department at Starbucks. Today, I’d say, unequivocally, it’s human resources. Our success depends entirely on the people we hire, retain and promote…..” Howard Schultz, Founder/CEO, Starbucks

  19. FURTHER INFORMATION: elikem@kuenyehia.com

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