Business Strategy Development case study
In 2008 Mike Forster was Strategy Director for a private business, a world leader in airport services, and equivalant in size to many high within the UK FTSE 100. Mike was responsible for the development of a business vision statement and a set of strategic intents or core business outcomes. He was also responsible for the development of the framework for the business strategies to deliver those outcomes plus a full set of KPIs by which the business could be managed.
Working to the newly appointed CEO, Mike and his team held workshops with the Executive Committee and interviewed Directors in the business to develop a vision statement which set out an achievable goal.
The emerging vision was based on a significant analytical exercise to confirm the fundamental basis of business success.
To bring the vision statement to life a series of strategic intents were developed to show how this vision translated into the key aspects ofthe business such as passenger experience, operational effectiveness, financial performance etc. There were eight of these intents covering all key aspects of the business.
The vision statement and strategic intents were represented within a framework based on a circle which emphasised the equal importance of these eight areas and gave a strong visual signature to the vision and strategic intents. This became known as the ‘Strategic Hub’ which resonated with the vision itself.
The eight strategic intents, which divided broadly into four outcomes and four enablers, provided a basis for the positioning of existing strategies and the development needed to fill gaps made evident by the analysis.
This has now been augmented by an understanding of the timescales under which different strategies work separating those concerned with long-term future such as the masterplan from those which are based on delivering improvement within the near future. Within these frameworks it has become much easier for coordination of strategies to be managed and made visible to the top team.
Equally importantly the strategies and accompanying strategic intents were supported by a set of 20 KP|s which covered the key aspects of the business and are still reviewed by the Executive Committee every month as the principal management tool for maintaining the strategic direction.
Over the three years these KPIs have been in place they have only been modified in minor ways to reflect changing priorities and business context.