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Family Business II: Strategy
Once a robust ownership, leadership and governance model is in place, a family business strategy can be established.
Busines strategy is the North Star that provides guidance through new, uncharted and saturated markets alike. Family business opportunities, new or inherited, should be grounded with a sound strategy from which everything else can be built.
Objectives
In second part of this course, you will compare your family business approach to a checklist of common family business advantages and best practices. You will work through three defined phases of strategy development—diagnosis, design and implementation planning—to generate a business strategy tailored to your situation.
Instructors
Mark Daniell, Prof Liechtenstein
Course Deliverables
Course Documents
Course Deliverables
- Detailed strategic plan comprised of three phases, each with seven steps:
- Phase I: Diagnosis of the business from internal and external perspectives; option assessment and selection To download, right-click on the link above and select “Save link as…”
- Phase II: Design of the chosen strategy from overarching vision to a detailed operating and organizational plan To download, right-click on the link above and select “Save link as…”
- Phase III: Implementation and value maximization plan for the strategy, with assigned responsibilities, deliverables and actions To download, right-click on the link above and select “Save link as…”
- Corporate Social Responsibility (CSR) Matrix To download, right-click on the link above and select “Save link as…”
Course Documents
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Course Modules
Your Own Business History and Objectives
This section does not have any lessons.
Analyzing the business and evaluating options: 7 steps
BUS1101: Three Phases of Strategy
BUS1102: Three Phases of Strategy Phase I: Diagnostics
BUS1103: Diagnostic Step 1 – Understanding Your ‘Point of Departure’
BUS1104: Diagnostic Step 2 – Portfolio Perspective
BUS1105: Diagnostic Step 3 – Profit Pool Perspective
BUS1106: Diagnostic Step 4 – Business Dynamics
BUS1107: Diagnostic Step 5 – Developing Competitor Perspective
BUS1108: Diagnostic Step 6 – Organizational Assessment
BUS1109: Diagnostic Step 7 – Evaluating Your Strategic Options
Designing an effective strategy: 7 steps
BUS1201: Three Phases of Strategy Phase II: The Design Phase
BUS1202 – Design Step 1 – The Promise: Vision, Mission and Values
BUS1203: Design Step 2 – Developing Key Levers on Performance and Value
BUS1204: Design Step 3 – Establishing Priorities and Resource Allocation
BUS1205: Design Step 4 – Innovation and Creativity
BUS1206: Design Step 5 – New Organizational Approach
BUS1207: Design Step 6 – Risk Management
BUS1208: Design Step 7 – Target Results
Implementing plans and maximizing value: 7 steps
BUS1301: Three Phases of Strategy Phase III: Implementation
BUS1302: Implementation Step 1 – Imperatives, Actions and Responsibilities
BUS1303: Implementation Step 2 – Tactics and Timetable
BUS1304: Implementation Step 3 – Implementation Team
BUS1305: Implementation Step 4 – Alignment and Integration
BUS1306: Implementation Step 5 – Program Control
BUS1307: Implementation Step 6 – Full Value Capture
BUS1308: Implementation Step 7 – Leadership and Motivation
Strategic Diversification
WMA1106: Perspectives on Business and Portfolio Diversification
Preparing for leadership succession and generational transition
GLS1201: Introduction: Generational Transition and Succession
GLS1204: Leadership succession
GLS1202: The Ethical Will
CRI1201: Fostering an Entrepreneurial Spirit
Educating the Family
NXG1002: NextGen Education and Engagement
NXG1004: Next Generation Learning
NXG1005: Next Generation Education