Creating a common sense of purpose What is

Creating a common sense of purpose: What is the value of Realizing our Hedgehog Concept SDRME? • • • Tanya Horsley, Ph. D, MBA June 03, 2019 Taking Stock

Context • SDRME struggling with an identity crisis • We want to ‘do stuff’ but for purpose, to what end, and with what? • Many ideas – how to activate? • What is our ‘hedgehog concept’ and how do we frame that concept into value?

Objectives • To determine what we want to accomplish as an organization and the concrete action steps needed to accomplish our collective goals. • During this discussion we will tackle questions such as: • What do I expect from SDRME? What is my SDRME membership doing to advance my institution? Who are our stakeholders? What is SDRME’s competitive advantage? What opportunities/threats should SDRME consider when developing its strategy? 3

Revolution required: • As companies grow – greater strategy -aligned efficiencies required; • Strong management leadership necessary, financial controls, humanresource/skill-shift, additional capital, new business techniques/operations. Evolution 1: • Founders entrepreneurial / visionaries • Communication frequent / informal • Small group working hard / moderate gains • Activities often driven by market rather than strategy External Trends / Practices Greiner Curve / Maturity Model Greiner LE. (1997)

Greater Alignment & Integration Operational inefficiencies Growth Strategic direction? * Distributed / inconsistent capital SDRME Current State Assessment

SWOT Analysis • SWOT, stands for Strengths, Weaknesses, Opportunities, and Threats, • Is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. • Ask & answer questions to generate meaningful information for each category to make the tool useful and identify their competitive advantage. 6

SWOT • A SWOT analysis can be used to: • Explore new solutions to problems • Identify barriers that will limit goals/objectives • Decide on direction that will be most effective • Reveal possibilities and limitations for change • To revise plans to best navigate systems, communities, and organizations • As a brainstorming and recording device as a means of communication • To enhance "credibility of interpretation" to be used in presentation to leaders or key supporters. 7

SWOT Analysis • Analysis may view the internal factors as strengths or as weaknesses depending upon their effect on the organization's objectives. The factors may include all of the 4 Ps as well as personnel, finance, manufacturing capabilities, and so on. • The external factors may include macroeconomic matters, technological change, legislation, and sociocultural changes, as well as changes in the marketplace or in competitive position. • The results are often presented in the form of a matrix. 8

Interpreting SWOT • The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit. • Authentic, honest, and agreement re: identification of SWOTs is important because it inform later steps in planning to achieve the organizations’ objective. • Decide whether the objective is actually attainable, given the SWOTs. If the objective is not attainable, they must select a different objective and repeat the process. 9

The Exercise • Groups of 4 (you will be assigned) • • Group 1 = strengths Group 2 = weaknesses Group 3 = opportunities Group 4 = threats • 10 -minutes to list and discuss each entry • Choose a recorded and reporter - 3 minutes reporting back by each group • Facilitated discussion Paul H. 10

10 Minutes (Taking Stock) • Group 1 Strengths: characteristics of the business or project that give it an advantage over others. • Group 2 Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others. • Group 3 Opportunities: elements in the environment that the business or project could exploit to its advantage. • Group 4 Threats: elements in the environment that could cause trouble for the business or project. 11

Thank You thorsley@royalcollege. ca / researchunit@royalcollege. ca