What is an organization’s strategy?
Its unique way of creating sustainable value.
How does a strategy distinguish an organization from competitors?
By its approach to creating customer value.
What does a strategy aim to maintain over time?
Customer value creation.
What does the Strategy Sketch combine?
Ten core elements of strategy.
What kind of tool is the Strategy Sketch?
A structured, coherent visual tool.
What are Resources & Competences for an organization?
What it has, does well, and what makes it unique.
Who are an organization's partners?
People and organizations it works with that increase the value of its products or services.
What do Customers & Needs identify?
The people and organizations served and the needs the organization fulfills for them.
Which organizations count as competitors when customers decide whether to buy?
Organizations customers compare with the organization when deciding whether to buy its products or services.
What does a value proposition describe about an organization’s offer?
Its products and services, how they are offered, and the added value for customers.
What does a revenue model describe?
What an organization receives for its offer, from whom, how, and when.
What do Risks & Costs describe?
The financial, social, and other risks and costs an organization bears and how it manages them.
What do Values & Goals express about an organization?
What is important to it and where it should go in the future.
What does Organizational Climate describe?
The structure and culture characteristic of an organization.
What do Trends & Uncertainties describe for an organization?
Broader-environment developments that affect it and the uncertainties it faces.
What should participants do first when using the Strategy Sketch?
Assemble diverse, relevant participants.
How should the Strategy Sketch be displayed during a session?
On a large sheet or digitally.
Across how many elements should participants map the current strategy?
Ten elements.
What should participants develop from the three best ideas?
A coherent Sketch.
What are the ten elements of the Strategy Sketch?
Resources & Competences, Partners, Customers & Needs, Competitors, Value Proposition, Revenue Model, Risks & Costs, Values & Goals, Organizational Climate, and Trends & Uncertainties.
What should an organization assess about its resources and competences?
What means it has that others lack, what it does especially well, what slack resources it can access, what it would miss if lost, and which competences enabled its resources.
Which relationships should an organization identify when mapping potential partners?
Organizations with formal contracts, those it depends on or frequently works with, and those that support it most.
What should an organization assess about its partners' contacts and shared interests?
Which useful contacts partners have and which beneficial organizations with shared interests are not yet partners.
What does customer analysis examine about product or service users and payers?
Who uses or pays for the product or service.
What does customer analysis examine about buying decisions?
Who influences buying decisions.
What does customer analysis examine about customers’ needs and problems?
The needs and problems customers have.
What does customer analysis examine about customers’ spending?
What customers are willing to pay for.
Which organizations does competitor analysis consider?
Organizations offering similar products or services, potential entrants, and substitutes.
What alternatives does competitor analysis consider?
The alternatives customers compare with the organization.
What should a value proposition emphasize instead of describing completely?
The essence of the offer.
What kinds of changes can developing a value proposition involve?
Improving, expanding, adding, simplifying, downgrading, or dropping features.
What related offerings can be included when developing a value proposition?
Related or complementary products and services.
What does revenue analysis ask about payment?
Who pays, what they pay for, how much they pay, and how or in what form they pay.
What does risk and cost analysis examine across strategy elements?
Their associated risks and costs, size, bearers, and which are necessary or avoidable.
What organizational features can assess climate besides task definition and division?
Power, communication, and characteristic symbols, rituals, or stories.
What can examining past decisions reveal about organizational values and goals?
The decisive criteria used in those decisions.
What recent achievements help examine an organization’s values and goals?
Its achievements in the past three years.
What can shared understanding of official values reveal about an organization?
How well its official values are understood and shared.
Which groups are examined when considering an organization’s values and goals?
Its stakeholders.
What future-oriented element helps examine an organization’s values and goals?
Its long-term ambitions.
What does environmental analysis identify about industry and society?
The important industry and societal trends.
What time horizon does environmental analysis use to identify definite changes?
The next few years.
What does environmental analysis identify beyond definite changes?
The major uncertainties the organization faces.
How can an organization respond to an environmental opportunity?
By exploiting it.
How can an organization respond to an environmental threat?
By turning it into an opportunity.
Where can an organization move to improve its environment?
To a more favorable environment.
How can an organization limit the effect of environmental changes?
By reducing its dependence on them.
What can the Strategy Sketch map?
The current strategy.
How often can the Strategy Sketch monitor organizational changes?
Monthly.
Answer 17 questions on Strategy Sketch and Strategic Planning.
1. What does an organization’s strategy describe?
2. How can an organization’s strategy help it sustain its customer value creation?
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