Chapter 2

After three weeks in class it is now the end of the term. The topic I liked the most is CSF or the Critical Success Factor. CSF is one of the most essential part in supporting objective. In doing my final paper, I really had a hard time pinpointing on the CSF since my objective is about growth. 

My company's first objective 1) build 100 stores in 3 years and 2) acquire brands 

at first I thought of CSF that in order to know that the built stores is a success then the store must attract people and customers. Come to think of it, that might be correct right? So I asked opinion from my mom (hehe) if it is correct, so I was told that it was not so she gave me this scenario: 

• So you've built buildings, and you said that the CSF was to attract customers, what if yes you've attracted customers, but all of them, let's say 100 customers are only buying a "pin" for their bag which let's say cost 50 pesos? So will that be enough to say that the stores you've built is a success? 

So that made ​​me think! So I changed my objective. CSF is really important because what if I focused on attracting customers and yet it does not have profit!  That is why I liked this topic a lot, because this really makes you think twice. CSF in definition is just a factor that will define your organization's success but when you are about to write it down it is really hard! but the good part about it is when you've finally discovered all your CSF the  TO DO  part becomes easier to fill in because the answer to the IT needs already lies between your CSF! 

This term I've met new friends! And the most fun part is that Elia and Ricky unexpectedly became my teammates! because we are all absent during the first meeting. (hehe)  We seldom meet, we usually email each other but when it comes to group work presentation we did pretty good (CEB PAC and PAL) Maybe because we are allowed to express all our thoughts without hesitations to the team and Kuya Ricky is really a good team leader he really listens to our suggestions, I think maybe that's the trick that's why we usually give good report. He also gives us time to participate and report! and the most fun part there is that I felt less stressed doing the group work! because no one is really into grades but into learning. It's like being in a coffee shop having an intellectual / crazy conversation with friends, exchanging thoughts and then POOF! there is the best idea and work made. :) 

Yellow Path

Our professor had discussed strategic analysis to us, as said Strategic Planning has four elements:

• The What (what the organization does and what they want to achieve)
• The Present (current state of the organization)
• The Future (Is what you want to be)
• The How (how you would achieve it)

In addition, there is a so called "Earl's Three pronged Approach" which will help address the organization's problem.

1. Inside Out
2. Bottom-Up
3. Top-Down

As part of the discussion what I liked most is the topic about critical success factor (CSF), because like in the Wizard of Oz, this is the yellow path, which will be the organization's guide on which one should be the focus of the organization this will help on how the objectives of the organization must be done. CSF is different from our office in the KRA, KRA CSF and help the organization focus on the important areas that must be done well in order to achieve the objective of the organization. CSF helps the members of the organization perform their work in the right context and pull everyone towards the same overall goals.

Books of Learning

The class where given the task assigned to provide 5 books relating to strategy and based on the discussions given by the class most of my classmates had presented about teamwork and leadership. In line with this, I have concluded that a best strategy will not work unless :

·         The organization as a whole is committed

·         The organization is guided by the right leader

·         And of course, must be aligned with the team / organization's objective.

For me, teamwork is one of the most important parts of the company but each member must clearly know what you goal is. Like what Mike discussed about 5 dysfunction of a team:

To these different levels may bring chaos to the team and eventually may result to poor performance and will affect business.  Communication is the key to build relationships within team members and this will ensure success in any goal of the organization 

With this activity that we have done in class, really liked it, because it had added learning and inspires me to read books again. Also, the frameworks shared to us will also help in our decision making throughout our organization. I hope we have this kind of activity again to keep us updated.

Battlefield

Giving a scenario, you are about to be sent into a battlefield, what do you check first? Isn't it you first check your weapon? Check if your weapon has bullet / arrow / is sharp? Then you check the threats within the area and check where the best place you will probably survive? Just like in a business when you are entering a business / industry you need to first check your own business to know if you are really ready, then check the threats that may harm your business and for your business to move ahead than your competitors. I have learned through this topic weaknesses that must be addressed immediately especially if these weaknesses is a great factor for the threats that may harm your business.

The opportunities and threats are external factors of the business which includes analyzing your competitors and the environmental factors that may hinder your business to progress. Just like the scenario after you've analyzed your position is and where you are entering this battlefield will lead you to strategize and know your game plan.

But in business as I learned during the discussions your strength is not a strength if your competitor is also the same. SWOT analysis gives you a map or guide that prepares you on what may come and if you are prepared to face those trials.

In business what you have today may have been outdated or will have no effect on your future thus, swot analysis must be a continuous activity that should be done by the company. 

Life Cycle

Product Life Cycle

Similar to a human life cycle, humans started as infant wherein a person is still learning its way to the world. In this phase, a person is still collecting all its knowledge about life. Then here comes the teen stage, wherein some learning gained is put to use. Then adolescence stage, that mostly we have achieved maybe not all but most of the experiences and there are two options, either we stop on what we already have then eventually retire, or venture into new learning / experiences.

All things come to an end, but the ending will depend on the choices we want to be the ending. So we either stop or we continue to improve / move forward. Like what we had during our presentation Cebu Pacific vs. Philippine Airlines, when you're strategy is the niche market it does not need to directly compete with your competitors but you can instead focus on your strategy and improve it. Though sometimes when you're in a market focus it gives you smaller room to improve.

Green Apple

As discussed in class, competitive advantage is an advantage over competitors by offering either lower price point of by providing product / services with greater benefits that will justify the price of the product.

In addition, a competitive advantage must be something that is hard to be copied or will require money / high investment and also take time for it to be done - so it will be considered as a competitive advantage.

Based with KISSmetrics, there are certain guidelines in differentiating your company from competitors, these are:

•      Partnerships - partnerships or alliances is one of a great competitive advantage because this will help a company a greater reach to their market / consumers and at the same time not only the products but also the partnership itself must be competitive.      
• .      Make sure the differentiating quality is something people want. - Make sure what you're investing on is what people need / wants. Hence, this will require the need of knowing your market / end-consumers.
•     Focus - Focus not only on the product but focus on one specific area in your product, collect inputs from team and little by little this will end up giving better results.

Knowing your competitive advantage must be done in the beginning before a company enters into a market. A company must know who their competitors are and why consumers should choose you over the other.

In knowing your edge over competitors is easier for a company to fight in a battle, so you'd know which factor / characteristic you must focus on.

Differentiation is linked with innovation.