| A well integrated Strategic Planning Process has | | | | You decide. As that marketing icon Bob Dylan would |
| always been the cornerstone of strong Company | | | | say, 'the times they are a changing.' |
| earnings and positive market share growth among | | | | This could all seem like bad news, or possibly shock |
| industry leaders. Within the Strategic Planning Process | | | | therapy to a Marketing Department but on the other |
| there is a wealth of information available on the | | | | hand it could serve your company well as a |
| potential impact of Political, Economic and Regulatory | | | | competitive advantage. As a key component at the |
| changes for the segments in which your company | | | | front end of the Strategic Planning Process to either |
| operates. Corporate Planning for the next few | | | | gather market research or to use it as an additional |
| business cycles will pay particular attention to the | | | | tool to disseminate information to key market |
| potential impact of the very turbulent financial | | | | segments. |
| markets worldwide. | | | | A word of caution should be added to all of this as |
| In 2009, this could include the potentially positive | | | | well. 'Those who talk don't know and those who |
| impact of the 'bailout' action plans of the Barack | | | | don't know, talk.' Validate your sources to be sure |
| Obama and Stephen Harper administrations, the 'New | | | | the research is qualitative research. |
| Reality' economic operating environment and its | | | | Embracing new technologies like blogging, wiki's, news |
| potential business consequences, regulatory changes, | | | | networks, social networks and micro blogging can |
| and social trends for the environments in which your | | | | possibly build brand loyalty faster than many |
| Company operates. | | | | traditional methods of reaching consumers in these |
| The competitive marketplace, however - that is an | | | | particular market segments. It cannot be ignored. |
| entirely different matter. | | | | More e-communication in various forms now takes |
| The 'Competitive Intelligence' updates would pay | | | | place between individuals via these networks than |
| close attention each key competitor as well as new | | | | through e-mail. |
| entrants and those exiting the business. The research | | | | The new consumer is evident everywhere. It is no |
| data on customer and supplier profile changes that | | | | accident that bricks and mortar video rental stores |
| may impact the business going forward is a 'mission | | | | like Blockbuster and Rogers are giving way to other |
| critical' element. There is no question that both the | | | | alternatives. Interestingly enough, over 53% of their |
| advancements in technology and the seemingly 'out | | | | rental revenue came from late return charges. Some |
| of the blue' arrival of non traditional competitors may | | | | initial indications of change took place in larger cities |
| in fact, along with a floundering economy, be the | | | | like New York, LA and San Francisco. With Real |
| most essential aspects of Strategic Planning in this | | | | Estate costs at a premium it created the perfect |
| business cycle. | | | | opportunity for NetFlix. Consumers could order their |
| All too often the road of an internalized Strategic | | | | movies; the movie would arrive at their doorstep and |
| Planning Process with only a cursory look at the | | | | then, once viewed, is returned via the mail. A process |
| traditional competition as well as the potential impact | | | | however, that was still a bit clumsy. |
| of new trends or technologies has led to market | | | | Now, the 'new and improved' NetFlix of Cisco |
| share self destruction. The emphasis is on market | | | | Systems Inc. HD broadband Video-on-demand |
| research and qualitative data. | | | | subscribers have video direct streaming access to |
| As a good illustration, the Audio/Video, in-home | | | | over 12,000 HD or Blu-Ray titles as well as PVR |
| entertainment, mobile devices and communications | | | | services like TiVo. Viewers can order online, view |
| industries represent an excellent case in point. These | | | | online, and even store it online and watch it any time |
| are all industries with very clear market leaders that | | | | they want. Both NetFlix and On-Demand represent |
| are now struggling to compete with new products | | | | corporate strategies to improve the consumer |
| and /or systems that are connecting with a new | | | | experience. |
| consumer who is on the grid; who is product savvy; | | | | With those questions then, what are the answers? |
| who is environmentally concerned and who wants | | | | The answer to all these questions again is simple: |
| immediate access to the latest of everything that is | | | | timely qualitative research. It could also be called the |
| just a 'point-and-click' away. Consumers just want to | | | | 4R's of Marketing. The right product, at the right time |
| 'plug and play'. They don't want to order or wait for | | | | at the right price to the right consumer; AKA the |
| CD's, DVD's, videos or have to buy a new device to | | | | building block derivatives of an in depth strategic |
| get new features. | | | | planning process. |
| These same consumers make choices and form | | | | The Strategic Planning Process is the first step within |
| opinions from Social Utility Networking Applications like | | | | the discipline of Business Process Management. The |
| MySpace, Facebook and LinkedIn (primarily a business | | | | follow-up steps are then Business Case Methodology |
| relationship networking site) and beware, these may | | | | to ensure that each and every meaningful Company |
| also be also the same consumers that have no | | | | initiative is accompanied by a detailed Business Case |
| problem posting positive and negative videos about | | | | for Senior Management and/or Board approval. |
| your company on YouTube. They will share positive | | | | The next stage in Business Process Management is |
| or negative press or reviews about your product on | | | | either the Product Development Process or the |
| Digg, a social news website. They willingly provide | | | | Project Management Process that represents a |
| their own interpretation of your marketing or logos | | | | disciplined, staged workflow process to ensure on |
| on MySpace and at the end of the day, have the | | | | time/on budget results. Built into each of the |
| power, through Twitter micro blogging, to spread | | | | 'processes' are 'go and no go' check points for timely |
| news faster than the New York Times, who is also | | | | reporting back to Senior Management/Board. |
| on Twitter themselves. | | | | The final stage of the completion of the project |
| Are the right wing leaning, very conservative Drudge | | | | would be its transfer into Operations. The final stage |
| Report or the left leaning liberal Huffington Post | | | | of the completion and launch of the product would |
| relevant internet news hubs? Well, the Drudge | | | | be the transfer of product responsibilities into the |
| Report, founded in 1997, drew international | | | | Product Management Process. |
| recognition in 1998 as first news network to break | | | | The fact that the marketplace is in transition across |
| the Bill Clinton/Monica Lewinsky scandal. After Matt | | | | each end every industry segment isn't new. Change |
| Drudge's report, Newsweek published the story. The | | | | and survival are commonplace and at least in concept |
| consists mainly of a selection of hyperlinks to news | | | | are not a great deal different than 'The Theory of |
| websites all over the world. A few years ago, the | | | | Evolution by Natural Selection' by Charles Darwin. |
| two man team of Drudge and Andrew Breitbart | | | | Those companies that are best prepared for the |
| moved the website from their LA apartment to | | | | 'New Reality' will thrive and those that are not well |
| Drudge's home in Miami, Florida. This virtual news | | | | prepared will despair. There is nothing particularly |
| network will see Gross Revenue for 2009 projected | | | | unique about the key components Business Process |
| at $15 million. Nielsen NetRatings reports a combined | | | | Management. Similarly, the fact that the 'excellence |
| 5.3 million Drudge/Breitbart website visitors per month | | | | companies' have ingrained both the discipline and the |
| with visitors spending an average of 66 minutes per | | | | fundamentals of Business Process Management into |
| visit. has 10.7 million visitors monthly. Is this relevant ? | | | | the evolution of their businesses is also not unique. |