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Strategy Whiteboard

Strategic Analysis

Culture
External Impacts
Internal Evaluation
Historical Results
Foundation

The Strategy Whiteboard app provides the flexibility to incorporate your company’s existing culture and use that as the guiding force for strategy development and execution, or you may use the Blendification culture framework of Cause, Intention, and Behaviors.

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Use the External Impacts block to list the things outside of your control that will have a significant impact on your company. These could be threats, opportunities, trends, or sources of inspiration. This will serve as a critical set of assumptions that drive your company’s decision-making and direction.

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Identify the major strengths that your company has. What are you particularly proud of? Which things do you rely on most to win customers, attract employees, or meet expectations. These are the things you build your strategy around. You will also identify weaknesses in this block, but only those that require critical attention.

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The Historical Results block enables you to create a table of metrics for up to 5 time periods. These could be quarters, years, or whatever is appropriate to your company. The main purpose of this table is to provide a quick reference for us to ensure we all have the same understanding of past performance.

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The Foundation block is where we really begin to aim the company toward a singular focal point set 4 to 5 years out in time. There are three elements to this block and each one helps establish parameters that will be used throughout your Strategic Planning and Implementation.

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Strategic Focus & Outcomes

Customer & Market
Product
Operations
People
Expected Results

This Focus Lens is where you create high resolution clarity on who your customers are and which markets you are targeting. Get specific deciding which geographies, industry types, demographics, psychographics and any other segment or profile detail that helps you narrow in on your ideal customer.

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This Focus Lens sharpens the expectations of how your product helps you connect with you specific customer & market. Think about what your customer expects to receive such as benefits, experience, and value proposition. Also, what do you expect in return such as revenue and profit.

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The Operations Focus Lens gives detail on how your company needs to manage its assets, resources, and infrastructure. Not to be confused with standard operating procedures and general administrative functions, this block highlights the big things like M&A, finances, real estate, and organization structure.

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Every business is comprised of and dependent on its people. The People Focus Lens helps you be intentional about your employees and other stakeholders. What do you need from your people to be successful? But also, how are you sharing that success with them?

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Disciplined companies follow a budget. But strategic companies let their strategy drive their budget. If your company achieves the Strategic Outcomes you defined in each Focus Lens block, then what are the Expected Results? Create a table showing your company’s key metrics and let those set your budget.

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Cause

  • Giving people greater personal awareness

Intention

  • To advance technology making personal data convenient and actionable for improving customers’ well-being.

Behaviors & Habits

  • Openness to alternative viewpoints, experimentation, and adaptation.
  • Discipline and focus on activities aligned with desired outcomes.
  • Embrace constructive conflict by being respectful, direct and transparent. 
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Impacts

  • Greater demand for corporate health & wellness programs
  • Performance athletics will be a growing market for wearables
  • People will expect privacy control over their personal data
  • 5G network will increase bandwidth capabilities
  • Just-in-time supply chain changing to just-in-case

Inspiration

  • Peleton- promotion of fitness lifestyle
  • Beddit- using technology to track and improve sleep quality
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Strengths

  • Brand trusted with personal data and privacy
  • Penetration with higher customer age brackets
  • Unique and intuitive user interface
  • Low-cost product design

Weaknesses

  • Medical diagnoses inhibited by sensor accuracy
  • Wireless charge capable battery capacity is less than 8 hours
  • Product returns due to field defect is too high
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2019 2020 2021
Revenue $36M $48M $72M
COGS $13M $17M $22M
Net Income $2.5M $3.8M $7.1M
Devices Sold 360K 480K 720K
Global Market Share 0.7% 0.9% 1.2%
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Foundation Strategy

  • Cost Leadership

Unifying Objective

  • 8M DatBands in daily use by end of year 2025

Core Competency Statement

  • Providing actionable personal data and insights through connected bands that encourages active living
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Strategic Focus

  • Grow sales in athletic and 50+ customer segments enabled by influencer promotion and feature awareness.

Strategic Outcome

  • 3.5M DatBands sold in US YE25
  • 500k DatBands sold in Latin America by YE25
  • 80% conversion ration of devices sold to online users by 2023
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Strategic Focus

  • Complete and release 4th generation DatBand with fully encapsulated housing and new power management design.

Strategic Outcomes

  • Battery cycle >12 hour per charge by December 2023
  • Water-related incidents fewer that 10% of returns by December 2022
  • User engagement score >85% by June 2024
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Strategic Focus

  • Establish AI-driven QA system to reject defects earlier and more accurately while maintaining low manufacturing costs.

Strategic Outcomes

  • Manufacturing hub operating at 90% capacity by 3Q24
  • Field defect rate <1% by YE24
  • COGS at 25% of sales income by YE24
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Strategic Focus

  • Invigorate culture elements providing enhanced personal growth, development, and fulfillment for employees. 

Strategic Outcomes

  • Employee retention rate at 92% by 2023 and beyond
  • Annual bonus at 20% every year starting 2022
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2024 2023 2022
Revenue $250M $140M $110M
COGS $62M $38M $31M
Net Income $32M $17M $11M
Devices Sold 2.4M 1.4M 1.1M
Global Market Share 3.8% 2% 1.8%
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Strategy Whiteboard

Strategic Actions

Customer & Market
Product
Operations
People

Customer & Market Strategic Actions are the significant things you will do to attract and retain your customers. These impact whole customer experience. Everyone in the company needs to support these actions, not just your sales and marketing teams.

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Product Strategic Actions ensure your product is meeting the expectations of your customers and your stakeholders. Consider what features are required to solve the problem. How does the pricing correlate with the benefits customers receive and how does it compare to competitor offerings or alternative solutions?

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Operations Strategic Actions cover all the major items involving how your company operates. Consider how to structure your costs and teams appropriately. Determine which factors are hurting profits or limiting scale. Decide where to invest and what capabilities you need to attain.

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The People Strategic Actions are highly connected to the Culture block. This is the place to figure out how employees are being cultivated and incentivized. Think how to establish workplace norms that foster the desired culture. Do what it takes to make your company a place where people can thrive and grow.

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Execution | Root Group

  • Grow corporate Instagram account followers from 450K to 1M by increasing content campaigns
  • Increase social media affiliate partner program by adding 25 new influencers
  • Launch 15 retail pop-ups in selects malls in Beijing. Hong Kong, Seoul, and Singapore
  • Discontinue Facebook advertising and reallocate budget to new marketing programs
  • Create customer segmentation tool to better match product features with age demographics
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  • Finalize material compositions for band casing
  • Implement and test new power management protocol for energy saver and inactive modes
  • Replace pedometer sensor package with more efficient wake-state switching
  • Increase water resistance pressure rating from 3 ft to 50 ft
  • Add UV protection glaze on touch screen
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  • Implement new order fulfillment software suite to prevent long-lead lag events and increase outbound bundling opportunities
  • Increase supply inventory to 6 months of stock for greater supply chain resilience
  • Procure long term contracts for rubber, glass, and battery purchasing to lower costs by 20%
  • Complete build-out of stage 2 assembly plant to get manufacturing hub operating as capacity
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  • Implement hybrid and remote office policy
  • Start team development workshop series and group reinforcement program
  • Begin geographic diversification recruitment by targeting Denver, Las Vegas, Phoenix, Tulsa, and Dallas
  • Create bonus allocation plan based off earnings growth and revenue vitality index
  • Establish culture sentiment gauge to measure employee attitudes, feelings, and general outlook on the workplace
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