On Saturday, 13th August 2022, BIO Water Accelerator Program held a training “Understanding Business Strategy: The Development & Implementation” at Phnom Penh Hotel, led by Mr. San Laty, Head of Business Strategy, CiC Plc.
- To gain understanding of basic of business strategy and its importance as business roadmap
- To gain an overview on strategy development process and execution in context of water supply sector
- Business strategy is those decisions that have high medium-term to long term impact on the activities of the organization, including the analysis leading to the resourcing and implementation of those decisions, to create value for key stakeholders and to outperform competitor.
- The actual market is the market proposition with demand (with willing to pay). However, in the market determination for your product, you should consider potential market which cover actual market and people with desire to buy although they have no willingness to pay yet. In the future, they will buy when their purchase power increase.
- Market segmentation consists of breaking down the whole market into submarket based on a specific criterion such that marketing action can be put in place.
- The value proposition answers the question: What are we offering to whom? It reflects explicit choices along the following three dimensions including target segment, product or service offering and revenue model.
- To deploy the right strategy, use SWOT (strength, weakness, opportunity and treat) analysis framework.
- The product-market matrix Ansoff look at the dimensions – product and market—creates 4 types of growth strategies including market development strategy, diversification strategy, market penetration strategy and product development strategy.
- There are 3 levels of strategy include corporate, business and function.
- Using the consumer insight of water consumption in different seasons and overall can help water operators set their value position which link determination of market segment product offering and revue model.