Technologies: MS Project, MS PowerPoint
Solution Type: Strategy
Industry: Construction & Manufacturing
Overview:
In February 2024, our client completed the creation of a concrete ready-mix company, which included a new campus consisting of office and concrete manufacturing buildings. With the vision of a new business fulfilled, ownership turned to Theoris to guide them in growing the business. Theoris recommended a revised vision and the creation of a Strategic Plan.
The plan included a new vision statement, strategic objectives, growth rationale, growth targets, and identification of known risks and risk responses. The plan ends with a list of tactical initiatives that serve as the foundation for initiating projects.
The Strategic Plan helped our client by defining a revised company vision that aligned with their mission statement and core values. It outlined the rationale for the strategic objectives and provided detailed input into tactical plans. This included goals, needs, performance indicators, and risk mitigation strategies. Additionally, it prepared tactical plans that were ready to be turned into actionable projects. Tactical plans will become the initial steps to operationalizing the Strategic Plan. It served as a tool to be used to methodically expand the business and listed high-level “blue chip” objectives and goals for the organization to focus on.
Challenges:
- The completion of the construction and the start of the new business created opportunities to set a new vision. Initially, the owners struggled to establish a strategic plan. Theoris stepped in, suggesting several vision statements for them to select and modify.
- Determining the tactical initiatives to launch as projects proved challenging at first.
Solution:
To address these challenges, Theoris suggested several vision statements, and the team selected and modified them within 30 minutes, incorporating them into the Strategic Plan. Theoris used a work decomposition technique, reaching tactical initiatives by reviewing the Strategic Plan objectives and considering the growth rationale, growth targets, challenges, and risks. At this point, Theoris facilitated a brainstorming session to decompose the strategic objectives into tactical initiatives. The initiatives showed how to achieve the strategic objectives.
Result:
Theoris formally presented the strategic plan to ownership, and the client approved it. The strategic plan yielded 15 tactical initiatives that provide enough information to begin initiating projects.