CH 5: planning frameworks

Question 1

explain the process of questions that comprise a potential planning framework

Answer 1

1) where are you now
2) where do you want to long in the long term (visions, goals, strategies)
3) what will help to come closer to those long term visisons ( annual objectives)
4) what will help achieve those objectives ( tasks and tactics)
5) how will je evaluate and track those results (measurements and metrics)

Question 2

what type of infomation is integrated in the product facts book? how and via what methods can product performances be evaluated?

Answer 2

FACT BOOKS: book that shows where you are now and integrated the results.

• compile and organize the external data and trends
• evaluate past performances against goals
• update goals, visions, roadmaps and strategies

METHODS?

Question 3

what specific questions, decisions are part of your long term vision/ goals/ strategy definition?

Answer 3

Long term visions: where do you want to go in the future, what is you vision for the future and how are you getting there?

1) UNDERSTANDING THE STRATEGIC DECISIONS OF THE COMPANY: what does the company culture consists of, what are the core capabilities,;;;

2) product portfolio
- new product portfolio: products that are in development
- existing product portfolio: products that are existing but look at products who may retire, resurrect, restrict, renew,,..
- R&D portfolio: products that are still fuzzy

Question 4

explain what process you will use to accomplisch these long term goals?

Answer 4

1) define problems and opportunities
2) forecast sales

3) set objectives (SMART)
- specific: objective, should be about a specific objective such as sales growth, profit growth, decrease of costs,…
- measurable
- attainable: subjective, they need to be possible to attain. it’s unreasonable to say that this year you have a profit loss of 3 million to gave to a profit of 3 million, it’s more attainable to be break-even next year, and next year after create a profit
- result-orientes
- time bound

4) determine target markets
5) posistioning statement
6) planning facts: flowchart, action maps, checklist, templates, schedules

Question 5

provide and describe the prupose of the typical product plan components?

Answer 5

VEGI RASP (l)

Vision statement: statement about where the company sees themselves in the future. explains what impact the company hopes to create

External review: review of the external factors such as technology, industry, market and events & trends (TIME). Look at what these can mean for your product.

Goal/ objectives: identify your long and short term goals in SMART-terms.

Internal review: look at the strength and weaknesses of the product

Resource requirements: what resources are necessary to be able to product the products -> labor hours, materials, competencies,…

Appendices: income statements, supporting research, financial statements,… Documents that help create a vision of the state of the company

stakeholders involvement: create an overview of the different type of stakeholders that are involved in the process. (comfos tepel)

product innovations: the key product development

lifecycle management: of the product what products needs to be resurrected, restricted, renewed, retirred