STRATEGIC PLAN

Transcription

1 STRATEGIC PLAN Submitted by: Orlando, Florida 1

2 CONTENTS q Executive Summary q Guiding Principles Mission, Vision and Values q Methodology and Analysis q Situational Assessment SWOT (Issue Identification), TOWS (Strategic Linkage) q Strategic Priorities Intentions, Goals and Strategies Conclusions HCCMO Strategic Plan

3 EXECUTIVE SUMMARY 3

4 EXECUTIVE SUMMARY In 018, the Hispanic Chamber of Commerce of Metro Orlando (HCCMO) will declare 5 years of serving the region s Hispanic business community. This quarter century of service to Latino-owned businesses is anchored in activities that promote advocacy, relationship building and economic development. Through strategic efforts and programs, HCCMO is poised to further strengthen the Central Florida environment for Latino businesses. Member feedback has reinforced the need for HCCMO to be more things to more stakeholders by serving as an innovative gateway to business development opportunities and as an advocate for business shaping issues through lobbying, education, training and partnerships. HCCMO Strategic Plan 4

5 EXECUTIVE SUMMARY Cont. HCCMO chose to seize this feedback as an opportunity as it began the process for developing the organization s new strategic plan. Consequently, this strategic plan is directed at a higher level and in many instances distinguishes the preliminary work that should be accomplished first (economic market survey, member satisfaction study, competitive analysis, etc.) before other goals can then be determined and addressed. This plan offers five Strategic Priorities: ü ü ü ü ü Deliver Market-Driven Programs Promote HCCMO s Value Develop and Engage Staff Strengthen Board Effectiveness Improve Operational Oversight HCCMO Strategic Plan 5

6 HCCMO S GUIDING PRINCIPLES 6

7 GUIDING PRINCIPLES Mission and Vision Through any lens, HCCMO is a mission-driven business advocacy organization committed to serving the Hispanic business community in Central Florida. The mission, vision and value statements verify why HCCMO exists and shape the programs and services we provide. These statements functioned as the strategic framework for the new strategic plan. MISSION * To improve business opportunities for Hispanic firms and professionals thereby improving the economic development of the Central Florida region. VISION * To enhance and increase the Hispanic business competitiveness in the state, regional and local market. * - Revised for consideration HCCMO Strategic Plan 7

8 GUIDING PRINCIPLES Values VALUES In addition to the mission and vision statements, HCCMO has a set of core values that serve to guide the conduct and output of the chamber. ü We educate and empower our business community to coalesce on matters of prime importance for the Hispanic business community. ü We seek to boldly innovate by leveraging technology as a way to increase our value and deliverables of measurable impact for our stakeholders. ü We strive to track and provide contrast between where we have been and where we go with authenticity and transparency ü We reflect one united family through our members and stakeholders with Latino and Latina Owned Businesses at the core. ü We are a membership driven organization that fosters economic growth by creating value propositions to our members and trustees. HCCMO Strategic Plan 8

9 METHODOLOGY & ANALYSIS 9

10 METHODOLOGY & ANALYSIS The first step in determining HCCMO s strategic priorities for the next 18 to 4 months was to conduct a thorough enviromental scan to include an operational assessment, a board survey and a high-level economic outlook review. These efforts helped to inform the planning process and create a baseline for the identification of issues and relevant trends. Operational Audit For this analysis, the consultant conducted one hour interviews with each staff member and over 3 hours of meeting time with the current CEO. This internal engagement produced the following perspectives: ü Passionate and dedicated staff ü Lacking operational plan to direct resources efficiently ü Functional expertise exist, but synergistic execution is missing ü HR related policies, procedures and programs are not adequate HCCMO Strategic Plan 10

11 METHODOLOGY & ANALYSIS Cont. Board Questionnaire Several members of the board of directors completed a pre-work questionnaire to secure governance level input for the planning process. Insight was provided on HCCMO s reputation in the marketplace, the impact of programs and events, leadership influence, financial stability and potential expansion efforts. The key considerations are as follows: ü HCCMO holds a strong reputation in the marketplace ü Trustee/Member value needs refreshing ü Events represent the organization s sweet spot and image builder ü Expand advocacy focus and business connecting programs HCCMO Strategic Plan 11

12 METHODOLOGY & ANALYSIS Cont. Economic Outlook The planning retreat participants reviewed several internal and external data points to include a five-year membership report, a demographics overview, and a study on the profile of regional assets. This review and discussion yielded the following insights: ü Emphasis should be given to generating and disseminating competitive research ü Devise an aggressive legislative agenda ü Establish strategic alliances to address the projected population increases ü Secure subject matter expert status with local media outlets for business development activity in the region HCCMO Strategic Plan 1

13 TRENDS AND ISSUES The operational assessments, market scan and stakeholder probes revealed future focus points for HCCMO: q Requirement to effectively communicate value q Staff retention q Stakeholder perception of leadership q Revitalized governance structure q Need for federal, state and local level advocacy q Conversion to digital communication tools q Create impact marketing platforms q Changing regional demographics HCCMO Strategic Plan 13

14 SITUATIONAL ASSESSMENT 14

15 BRAINSTORMING Considering the results of the situational assessment, the Board participants conducted a SWOT analysis to identify organizational threats, opportunities, weaknesses and strengths. Through this brainstorming process, internal and external factors affecting HCCMO s current and future impacts were summarized for evaluation. HCCMO Strategic Plan 15

16 HCCMO S SWOT MATRIX (consolidated input) SWOT Analysis HELPFUL to Achieving Objectives HARMFUL to Achieving Objectives Internal Origin Strengths Weaknesses (organizational attributes) External Origin (environmental attributes) 1. Passion/Energy. Staff Commitment 3. History/Goodwill 4. Access to Resources 5. Financial Stability 6. Board Commitment 7. Centralized Location (NEC) 8. Loyal Membership 9. Successful Events (Fundraisers) 10. Effective Cohort Groups (LEADS) Opportunities 1. Tell Story/Successes/Impacts. Utilize Competitive Data and Research 3. Market Development Planning 4. Influx of Latinos to region 5. Leveraging Existing Resources 6. Operational Capital Investment 7. Market-Based Programming 8. Social Media Strategy 9. Relevant Trustee Engagement 10. Partnership Cultivation 1. Financial Management Systems. Membership Retention 3. Market-Driven Programming 4. Lacking SOPs at the Staff Level 5. Resource/Structure Alignment 6. Market Research Focus 7. Employee Retention 8. Employee Development 9. Board/Staff/ Relations 10. Strategic Plan- Implementation Threats 1. Social Media Networking Reach. Weakening Institutional Knowledge 3. Ineffective Board and Committees 4. Continued Staff Departures 5. Questionable Value for Membership 6. Questionable Value for Trustees 7. Sponsorship for Key Initiatives 8. Unfavorable Market Climate 9. Mission Creep from other Chambers 10. Leadership Stability/Credibility HCCMO Strategic Plan 16

17 TOWS PROCESS Factoring the relationships between the identified threats, opportunities, strengths and weaknesses, the TOWS analysis tool was used to link the internal and external SWOT factors to form a strategic direction. TOWS ANALYSIS INTERNAL FACTORS EXTERNAL FACTORS Opportunities (O) Threats (T) Strengths (S) Strengths/ Opportunities (SO) Strengths/ Threats (ST) Weaknesses (W) Weaknesses/ Opportunities (WO) Weaknesses/ Threats (WT) HCCMO Strategic Plan 17

18 SWOT DRILL DOWN HCCMO s Positioning Statements Strengths S1. Long-standing, well regarded advocate for Latino businesses S. Loyal and engaged membership S3. Comprehensive and easily accessible business development resources S4. Strong history of delivering impactful revenue generating events Opportunities O1. Capitalize on competitive research and market trends O. Establish partnerships and alliances to advance HCCMO s mission and connections for members O3. Determine the business impacts stemming from the projected number of Latinos locating to the region Weaknesses W1. Board effectiveness and structure W. Market-based capacity building and business development programs for membership W3. Formal staff development and performance systems W4. Strategic membership acquisition and retention plans Threats T1. Membership shifts to social media for networking value T. Operational inefficiencies due to staff departures T3. View of HCCMO s leadership by stakeholders T4. Regional decline in Latino business opportunities O4. Develop comprehensive stakeholder engagement plan HCCMO Strategic Plan 18

19 TOWS ANALYSIS STRENGTHS AND OPPORTUNITIES 1. (SO, O4)- Engage loyal membership to develop and have ownership in our stakeholder engagement plan. (S4, O) - Leverage reputation by delivering successful events and programs to increase membership value 3. (S1, O3) - Engage strong advocacy groups to maximize resources and increase competitive advantage and influence 4. (S3, O1) - Reposition resources (which include membership, board alliances, staff, data and location, etc.) to capitalize on favorable market trends HCCMO Strategic Plan 19

20 TOWS ANALYSIS OPPORTUNITIES AND WEAKNESSES 1. (O, W1)- Leverage the Board s commitment and expertise to develop strategic and operational alliances.. (O4, W) - Develop a comprehensive stakeholder engagement plan to determine effectiveness of 3. (O3, W3, W4)- Develop staff and manage performance by investing technological and training resources. 4. (O1, W4) Leverage existing resources and analyze potential resources to create and stabilize operations to foster a competitive advantage. HCCMO Strategic Plan 0

21 TOWS ANALYSIS STRENGTHS AND THREATS 1. (S4, T1) - Redesign marketing communications programs to elevate event and program participation through enhanced social media platforms. (S3, T) - Optimize members resources and improve service delivery by outsourcing critical HR activities 3. (S, T4) Expand ambassador and reputation management efforts to drive credibility and favorable voice in the marketplace for HCCMO 4. (S1, T3, T4) Formally assess the competitive market opportunities and mitigate against identified risks HCCMO Strategic Plan 1

22 TOWS ANALYSIS WEAKNESSES AND THREATS 1. T, W1, W3) - Develop and implement a performance management system for staff. For the Governance team, establish a Board Effectiveness Program.. (T1, W4)- Create a board effectiveness program, verifying we are doing what we agreed to do. 3. (T3, W4)- Implement a survey system to assess stakeholder impressions/attitudes 4. (T4, W, W4)- Provide members with frequent opportunities to interact with HCCMO beyond the onboarding process and ensure that they always stay engaged. Engagement leads to investment, which in turn leads to renewal. HCCMO Strategic Plan

23 STRATEGIC PRIORITIES 3

24 STRATEGIC PRIORITIES q q q q q Promote HCCMO s Value Develop and Engage Staff Strengthen Board Effectiveness Fortify Operational Oversight Deliver Market-Driven Programs HCCMO Strategic Plan 4

25 INTENTIONS, GOALS & STRATEGIES Based on all information presented in the previous pages and the data points summarized in the retreat planning notes, the following intentions, goals and strategies are offered for each strategic priority. With further development at the tactical level, the board believes that each strategic priority will assist in moving the chamber forward in a manner that meets our members needs, solves critical problems, and adds value so that membership in HCCMO has an enduring meaning. HCCMO Strategic Plan 5

26 STRATEGIC PRIORITY: DEVELOP AND ENGAGE STAFF INTENTION In order to deliver on HCCMO s strategic goals, significant attention should be given to the hiring, positioning and development of staff. This plan supports improving organizational capacity by addressing key staffing needs and member servicing goals. STRATEGIC GOAL Align roles and accountabilities for operational excellence STRATEGIES q Conduct HR audit to identify service gaps and compliance risks q Develop plan to address retention factors: (compensation, benefits, working climate etc.) q Establish a performance management system q Provide professional development opportunities HCCMO Strategic Plan 6

27 STRATEGY PRORITY: PROMOTE HCCMO S VALUE INTENTION HCCMO s continued viability is undeniably tied to the success of its membership. Incremental membership growth is derived from a broadly recognized and endorsed value proposition. STRATEGIC GOAL Promote membership value and member accomplishments STRATEGIES q Develop a brand messaging and digital media strategy q Implement stakeholder listening and engagement campaigns q Merchandise member successes and key program outcomes HCCMO Strategic Plan 7

28 STRATEGIC PRIORITY: IMPROVE OPERATIONAL OVERSIGHT INTENTION The staff is not properly resourced with daily management tools and financial reconciliation systems. Some investment is necessary to deliver on the promise of superior service to our membership and to advance desired business outcomes. STRATEGIC GOAL Refine financial reporting and improve operational accountability. STRATEGIES q Invest in performance visibility software systems q Create a pro forma evaluations for all events and programs q Establish an operational dashboard for real-time visibility on key indicators HCCMO Strategic Plan 8

29 STRATEGIC PRIORITY: STRENGTHEN BOARD EFFECTIVENESS INTENTION The composition and commitment of the board of directors for HCCMO is balanced and strong. However, based on board member input, there is considerable room for improvement in the areas of engagement and effectiveness. STRATEGIC GOAL Revamp governance activities for mission alignment and effectiveness. STRATEGIES q Re-evaluate governance activities against best practices q Re-examine meeting protocols and committee structure for alignment with strategic direction q Design a board member orientation and expectations manual HCCMO Strategic Plan 9

30 INTENTION STRATEGIC PRIORITY: DELIVER MARKET DRIVEN PROGRAMS To strengthen HCCMO s value proposition for current and potential members, a programming overhaul is needed. Membership is seeking relevant products and services to advance their business objectives. STRATEGIC GOAL Align programs and services to target member and market needs. STRATEGIES q Define focus and develop programs as a market-based service provider q Determine and measure member benefits for all program executions q Expand partnerships to increase access to capital HCCMO Strategic Plan 30

31 CONCLUSIONS Overall, the Strategic Plan aims to do the following: Achieve full alignment with HCCMO s mission statement and influence the economic viability of the region through member engagement. Strengthen and leverage HCCMO s strong brand equity across all stakeholders. Understand our members and prospective members and connect with them by collecting data and providing services they want. Communicate the HCCMO story with an advocacy program that works locally, regionally and nationally Expand on a strong financial base that will allow HCCMO to grow its programs and services This strategic plan represents a broader commitment to understand the factors influencing HCCMO s immediate and long-term success and set the stage for exceptional member servicing. HCCMO Strategic Plan 31