mike.jones@walescooperative.org

mike.jones@walescooperative.org

Who Are We?• Set up in 1982, offices across Wales,

50+members of staff• Delivering projects on behalf of Welsh

Government and the European Union• Our vision: For Wales to be the international

leader for co-operative thinking and action• Our mission: To develop sustainable businesses

and strong, inclusive communities by working co-operatively

Three key areas of work• Enterprise Support

Free support to set up and run co-operatives and social enterprises, including employee buy-outs, community based co-ops and co-operative consortia. Business consultancy service provides paid-for support.

 • Digital Inclusion

Helping enterprises, community groups and voluntary organisations become more competitive and take advantage of information, services and opportunities online.

• Financial InclusionAdvising public sector organisations on how to help people avoid financial problems, and supporting credit unions in their mission to provide affordable, secure financial services to all parts of our community.

Business StrategyWhat is a business strategy?“the direction and scope of an organisation over the long-term”

(Johnson and Scholes - Exploring Corporate Strategy)

Business StrategyWhat goes into a business’ Strategic Framework?• Vision• Mission• Values• Aims• Objectives

Group Activity

VisionDescribes a picture of the company's future and the direction it is headed. It should answer the following questions:• What will the business look like in 3 to 5 years from

now• What things you are going to try and achieve• What customer needs you are going to address

Example of a Vision Statement(1)“to become the world's leading consumer

company for automotive products and services”

(Ford Motor Company)

Example of a Vision Statement(2)“to be the world's most customer-centric company, where customers can find and discover anything they may want to buy

online at a great price”(AMAZON.COM)

Example of a Vision Statement(3)“To make, distribute and sell the finest quality

all natural ice cream and euphoric concoctions with a continued commitment to incorporating wholesome, natural ingredients

and promoting business practices that respect the earth and the environment”

(Ben and Jerry's)

Example of a Vision Statement(4)"to be one of the world's leading producers

and providers of entertainment and information, using its portfolio of brands to

differentiate its content, services and consumer products”

(Walt Disney)

MissionWhat is a Mission Statement?

“a statement of company's, team's or organisation's purpose describing what

business the company is in and the customer needs it is trying to meet”

Example of a Mission Statement(1)“To enrich people's lives with programmes

and services that inform, educate and entertain”

(BBC)Compare with the BBC's vision statement

"To be the most creative organisation in the world."

Example of a Mission Statement(2)"To grow a profitable airline...Where people love to fly...And where people love to work.""Safety, security and consistent delivery of the basics are the foundation of everything

we do."(Virgin Airlines)

Example of a Mission Statement(3)"To inspire and nurture the human spirit - One person, One cup, and One Neighbourhood at

a time“(Starbucks)

Example of a Mission Statement(4)"To give ordinary folk the chance to buy the

same thing as rich people.“(Wal-Mart)

ValuesWhat are Values?

“principles that guide an organisation's internal conduct as well as its relationship

with the external world”

Examples (Handout)

AimsA number of statements of purpose to achieve the Mission e.g. we want to grow the business into Europe

AimsAims need to address:• Financial - satisfying owners, employees,

suppliers, funders….. • Market - satisfying clients & customers• Internal Business Processes - appropriate

and well operated.• Learning, Innovation and Growth - ability to

change, improve and innovate

ObjectivesEffective Objectives meet the Aims and ideal contain the following criteria:• S – Specific e.g. a hotel might have an objective of

filling 60% of its beds a night during October.• M - Measurable e.g. £10,000 in sales in the next

half year of trading.• A - Agreed by all those concerned in trying to

achieve the objective.• R - Realistic should be challenging but attainable.• T- Time specific e.g. by the end of the year.

Research & Analysis• PESTEL• SWOT• Publications• Experience (Historic)• Stakeholder Consultation• Other

Legal Structures

Diolch yn Fawr!!Thank you!

Any questions?