fcg strategic plan
TRANSCRIPT
Foresight Communications Group:
2014 Enterprise/Client and Long-Term Strategies
5 April, 2014
Created by: D’shaun Guillory
2
Contents
Contents…………………………………………………………………………………………… (2)
About Foresight Communications Group…………………………………………………... (3)
Objectives and Needs………………………………………………………………………….. (4)
Long-term Goals…………………………………………………………………………………. (5)
Immediate Environment………………………………………………………………………... (6)
Immediate Environment Continued…………………………………………………………. (7)
Global Environment.…………………………………………………………………………….. (8)
Stakeholders, Clients, and Customers……………………………………………………….. (9)
Stakeholders, Clients, and Customers Continued………………………………………... (10)
Stakeholders, Clients, and Customers Continued………………………………………... (11)
Stakeholders, Clients, and Customers Continued………………………………………... (12)
Enterprise Strategies…………………………………………………………………………….. (13)
Enterprise Strategies Continued………………………………………………………………. (14)
Strategic Initiatives………………………………………………………………………………. (15)
Strategic Initiatives Continued………………………………………………………………… (16)
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About Foresight Communications Group
Vision
Mission
Strategy Mission
The mission of Foresight Communications Group is to satisfy a diverse
group of cliental who want to expand internationally, reach out to
new markets, and integrate dissimilar media sources by providing
new media strategies, developing new press material and establish
a new English/Mandarin collaborative and to incorporate foresight
with that of PR, marketing, and advertising sectors.
The future looks promising for business expansion and access to new
markets are provided by a flourishing relationship between the
Foresight Communications Group, our clients, and other vested interest.
Success will be measured by the long-term viability of businesses and
services rendered through Foresight Communications Group. The future
presents us with an advantage due to our strong disposition to foresight
which provides the enterprise with many tools that other competitors
may not utilize when representing business or clients. Using foresight,
marketing, and in-depth market research, this enterprise will utilize best
practices, the rights tools, and expertise to the client or business.
Foresight Communications Group is an alliance of seasoned
and talented communications professionals with the talent
for helping clients increase marketplace awareness, engage
stakeholder audiences and solve public relations challenges.
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Objectives & Need
1. Build some three scenarios on PR/Marketing and the field evolving in the next 15-20 years.
Initiative 1 – Forecasting or projection of long-term time-horizons of consumer behavior within
Marketing and PR Firms is expanded. These entities can sometimes rely too heavily on short-term
time horizons for decision making purposes.
Initiative 2 – The enterprise develops a more complex orientation to change in the market by
better anticipating change. This will allow the enterprise to be able to thrive in a fast changing,
more uncertain environment.
Initiative 3 – The marketing/PR firm will not only engage with their customers but also their
stakeholders by involving them the thinking and planning stages. Also doing research on the
demography of the stakeholders to better understand where they are coming from.
2. Six emerging skill sets that need to be enhanced as a PR Consultant and practitioner in the
future. On the part of the consultant, the skill sets most be;
Complex Systems Modelling (Futurists background)
Coding
Building of new media structures
Cross-Cultural Competency
Highly Adaptive to Change (Consumer-Behavior/Needs of the client)
Creative Writing Skills
3. Three skill sets that will not be needed in the future and/or will be phased out with technological
advances and other changes;
Linear thinking and business models will be obsolete
Some scenario planning tools will be automated by highly advanced technologies.
The status quo of producing and/or creating value
Strategic Business Need
Understand how the enterprise can evolve in the next 10 years pertaining to Public Relations and Marketing. Understand the future of the industry and clients’ needs with heavy emphasis placed on:
Skills sets
Client needs
Emerging factors/changes in the future
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Long-term Goals
Measure of Success
As clients increased need for well-rounded practitioners
increases overtime, if the enterprise manages to cope with
these challenges without major disruption than the goal of
adaptation has been achieved.
If the enterprise develops a complex orientation by embracing
and thriving on chaos in the market than the entity has adapted
to the new environment.
Adaptation
Training
Foresight
Recognition &
Perception
Measure of Success
There is a major skills gap emerging at the moment and is only expected to
worsen overtime. The enterprise must stress to the client the importance of
training new hires to meet the needs of the market
With highly skilled baby-boomers retiring, it is crucial that businesses focus on
training new workers as many of them exit college without adequate skills.
Measure of Success
Aside from having a network of cliental, in order to grow this network, credibility
must be established. The enterprise has been around several years which means
it has gotten over the initial hump. However, this must be a long-term goal if the
enterprise is to maintain long-term viability. Credibility
Measures of Success
This is one of the most important components
as the practitioner consults with clients. In
order to effectively promote change, long-
term thinking, innovation, and adaptability to
the market; if the enterprise manages to
change the way these clients do business,
than the goal has been achieved.
Measures of Success
Aside from credibility, the enterprise must
be able to market itself in a way that
leads to long-term growth.
If the enterprise manages to be
recognized for all of the right reasons and
has built an overall positive perception,
than the goal may be reached in a
reasonable amount of time.
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Immediate Environment
Clients/Customers
The Foresight Communications Group is involved with several American and recently
foreign based companies both large and small. The enterprises clients and/or customers
are projected to be involved in more mergers and acquisitions mostly between US and
foreign based companies. This is not to say that there is going to be a one-sided approach
in the acquiring of another business. However, there is going to be a high degree of push
and pull between the varying business interests which will result in potential uncertainty in
the future.
Suppliers
The Foresight Communications Group is involved with Graphic Designs, multiple paper
companies and those entities that offer a diverse background of experience that may not
be present from within the enterprise. In the future is likely to be more emphasis placed on
cost-effectiveness and which suppliers are more economical.
Competitors
There are many competitors in the market, particularly other sole proprietors which are
growing in veracity. However, the most common competitors are likely to be other
Marketing and Public Relations agencies, especially those within the metropolitan region.
The enterprise competes with firms based in other parts of the country such as New York.
Recently, the enterprise has had to compete with an agency based out of New York for a
contract with a Milwaukie based company called Rockwall Automation. The project
pertained to PR and Energy. Aside from the competition, there is the potential for
collaboration in the future with agencies such as the one located in New York. Due to
greater interconnectedness in the global marketplace, an enterprise can find that they
can collaborate with those that were once seen as competitors or even rivals.
New Technologies
The Foresight Communications Group
relies on the declining cost of
computers and other technologies.
There is also reliance on the expansion
of greater access to high speed internet
through enhanced broadband and
fiber optics. In the future, there could be
advances in process management
software and more advanced fiber
optics as more people are online
making the exchanging of
communication, documents, etc more
ubiquitous.
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Immediate Environment
Demand
Houston is in the middle of an energy boom and is one of top job
markets in the nation. The need in the Greater Houston region for
Public Relations and Marketing within these energy based companies
is at the moment in high demand. There are companies who sell
varying technologies to these energy companies who are in need
Public Relation and Marketing Firms.
Sectors
Other businesses and sectors of the Houston economy are also
beneficiaries from the energy boom. In other words, a trickledown
effect on the market. The service sector, the medical industry, and
growing tech companies are all beneficiaries. Conversely, the energy
sector, though the regions primary economic growth engine, is helped
by positive growth from other sectors of the economy.
Workforce
Demographically, there are many baby-boomers in the workforce who
are planning on or have already left to start their own businesses; many
of them as sole proprietors.
Opportunities
Challenges
Recognition
As an independent practitioner, it can be difficult to establish name ID.
It can be very noisy in a metropolitan region of over 6 million and full of
other similar enterprises who are also in the Marketing, Public Relations
and Communications market.
Small vs. Large
Currently, many of the Foresight Communications Group clients are
referrals from the previous company of the practitioner. However, there
is the issue of building a network overtime which can be onerous as
there is major competition from larger agencies and firms who
compete for the same clients. The limited amount of resources and
funding can affect how much a business can leverage for financial
gain and name recognition.
Other Responsibilities
When one owns and runs their own business, all the responsibilities fall
onto the practitioner. These responsibilities include income taxes,
invoicing, record keeping, and accounts payable. There are times
when you are isolated as a consultant, lacking those beneficial
networks.
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Global Environment
Social—There are major demographic
changes on the horizon with up-and-coming
generations transforming the way we use
technologies and news content to one that
offers diversity.
Technology—Varying products such as PC’s,
Mac’s and smaller mobile technologies will
continue to merge which is an added benefit
for the business relating to cost and
efficiency.
Economic—The global marketplace is
expected to change, become more
complex and uncertain. The enterprise will be
affected be this and will have to stay ahead
of all the changes to remain viable in the
future.
Environmental—Because of climate change
it is a big question mark as to the effect on
the business. Any kind of change in this area
will require PR and Marketing people to make
the right changes correlated with our clients
work.
Political—Having clients in unstable parts of
the world could make doing business
seemingly risky, especially for the enterprise.
Social—Growing isolation due to a growing online
presence could have a reverse affect and lead
to young people seeking closer interaction. This
effectively could break the trend of young
people preferring an online presence.
Technology—There is a rise in technologies such
as 3D printing, nanotech, and so on which will
have a huge impact on business. Marketing and
PR will have to learn and adapt to these changes
to benefit clients and stay competitive.
Economic—Companies want to expand, people
want to sell, and they are excited to be in the
market. If the global economy destabilizes, the
enterprise and businesses similar to it will be the
first to go. When the economy is good, everyone
benefits.
Environmental—With changes in the way we live
and potential accountability of companies who
pollute; PR people are going to have to learn how
to manage crisis communication in some of these
situations.
Political—If the environment is politically unstable
which is the situation in many parts of the devel-
oping world, it makes it very difficult and in some
cases high risk to do business these in places.
What could affect Foresight
Communications Group in
the next 5-10 years?
What future events could
change Foresight Communications
Group’s future?
Social . Technological . Economic
Environment . Political
A growing number of
clients want the ability to
plan for the long-term and
not always the short-term
Some clients require
their practitioners to be
a ‘Jack of all Trades.’
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Stakeholders . Clients . Customers
Needs/interests The company needs to expand into other markets that do not have
adequate access to school unfirms or businesses who supply them.
The company wants to not change but enhance its marketing and
communication tools. With expanding a business into a new market,
there needs to be a concerted effort to grow and frame perception of
the business at hand to something that is most desirable, preferable,
and beneficial.
Issues/Constraints This company has its stakeholders such as media outlets. The company
must strengthen its communication and marketing tools .
Stakeholders/Customers (School Administrators) - This group wants to ensure that there is a
network of businesses and/or industries in the market that can provide
school uniforms.
(Trade Publications) - This group’s interests pertain to the targeted
outreach to schools, teachers, and administrators.
Products/Services
rendered
Ensuring the student body has access to school uniforms and local
businesses that distribute or sale them.
Practitioner services
rendered to the client
Helps business strengthen communication and marketing apparatus.
This business has to build a brand and communicate the changes or
expansion plans.
Benefit to all parties Parker’s Uniforms can place more emphasis on expanding and growing
the business, while not having to worry as much about the brand
aspect or lack thereof.
If the business experiences growth and the potential to acquire some
of their competitors in other markets by producing a better product, it
would cement a long-term partnership between the two entities. If the
business and/or client is successful the enterprise can directly and/or
indirectly benefit.
Parker School Uniforms is a growing supplier of
school uniforms in the Metro Houston region.
The company has been around for 40 years.
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Stakeholders . Clients . Customers
Needs/interests Expand to new audience and or customer base and overcome a
difficult transition.
They have to make use many of these chemicals and products to
make much of the infrastructure we all use on a daily bases such as
cement and asphalt to make roads, sidewalks, etc.
Issues/Constraints This company was recently acquired by a Chinese company which
means heavy state involvement leading to more restrictions and
regulations.
But as a benefit, this involvement by the Chinese government could
lead to the company being heavily subsidized and buffered from
instability or major disruptions in the market place.
Stakeholders/Customers (Other Manufacturers) - This group wants to have a sustainable business
producing the product or in this case chemical, that they need and
can use in their production process.
Products/Services
rendered
This companies development and production of copolymer is used in
some cement and asphalt blends to maintain roads, sidewalks, parking
lots, etc using this chemical.
Practitioner services
rendered to the client
Helps company develop press material for the media with heavy
emphasis on the new Chinese media market.
Benefit to all parties Establish international communication arm in a new marketplace
If the manufacturers continue not only to do business with Dexco but
also buy the copolymer product, there is financial gain for the client/
business. The enterprise also has the benefit of continued business with
the client.
If the customers or those who experience this product on a daily bases
are satisfied, it reflects positively on the enterprise and the client/
business.
Dexco is a Houston based company , recently
acquired by Chinese company BPRC and is now
trading on the Chinese stock market. This company
is a major hydrochemical and manufacturer or
copolymer products.
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Stakeholders . Clients . Customers
Other Clients - (Client C) Marketing Agency
Needs/interests With expansion into the Chinese Market, the need is to become
integrated into the new international media structure.
The ability to understand different sets of business outcomes.
Practitioner services
rendered to the client
Setup presentations for the business and develop talking points.
Benefit to all parties Establish new English/Mandarin collaborative.
Other Clients—(Client D) Divorce Attorney
Needs/interests Reach out to women in the Houston market
Practitioner services
rendered to the client
Setup Public Relations Seminars
Develop social media, advertising, and marketing material.
Benefit to all parties Established local presence and educate women on divorce law.
Foresight Communications Group wants to further the
success of clients’ businesses to sell more products, provide
better services, expand internationally, and to innovate.
Other Issues
(Prior) Disruptions/Challenges - The evolution of various technologies have
caused some problems due to inefficient networks affecting
communication with clients as well as the growing difficulty to manage
complexity.
(Current Situation) - Some technologies have become more affordable and
efficient for new businesses and startups. For that reason, the enterprise is
able to feasibly handle more clients and projects.
By utilizing foresight, the enterprise can plan for these changes and put in
place the necessary infrastructure to deal with these changes.
This enterprise is small and just getting established. There is room to grow by
not having any long-term legacies that may hinder future growth potential .
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Stakeholders . Clients . Customers
Future
Aspirations
Stakeholders: To provide the company’s copolymer to customers
around the world, especially in the new Chinese
market at the right price point to sell.
The client or business is now building new
manufacturing plants in different locations such as
Taiwan as expansion continues.
Customers :
A cheaper yet high quality copolymer available in any
part of the world without having to incur the high
transportation cost of the material, product, or
chemicals.
The new merger is in closer proximity to the source or
the plant that is used to make the product which
makes the production costs cheaper.
Stakeholders: To have a high quality product at a reasonable price
for parents.
To make available the product in a timely manner so
that they have it in time for the school year which can
be a challenge.
It is doing well despite the fact that there have been
some challenges associated with the acquisition of
companies in other markets.
Customer: Would love to see the to the business being
represented by the enterprise be affordable and
widely available.
Parker is expanding into new marketplaces even with
all the new challenges and uncertainty that comes
with the acquisition of other companies.
Through the merger process, there can sometimes be uncertainty with those who work for the
entity being acquired. Being that Dexco an American company was acquired by a Chinese
company, there is a good degree of uncertainty because it is a new market, there are different
values, ethics, and norms. The enterprise was able to consult with the company prior to the
acquisition, changes were made new communication, marketing, and PR tactics were
established. The company can take these changes with them to the Chinese Company.
Conversely, the company can be proud of the fact that whatever changes they made, they
can now expand their product development and marketing campaign to an international
audience. They must also accept reality that with the acquisition, their ideas and/or business
model will be challenged and possibility done away with all together.
Challenges with
Mergers and
Acquisitions
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Enterprise Strategies
Strategy: Thriving on change Goals achieved: Adaptation and Foresight
Description: As part of the overall goal of adaptation, the enterprise will enhance the foresight and
futures-related strategy of developing long-term plans for all plausible future outcomes that could
potentially affect the enterprise and client. This strategy includes;
Pushing for client’s marketing strategy to one that emphasizes long-term horizons, instead of
short-term gains.
Staying current and aware of change technologies and social trends that are on the horizon.
The client will be expecting this from the practitioner.
Utilize these new technologies which could help with building strategies for the client.
Expect the unexpected and plan around these events. A future of uncertainty is all but
unexpected and the enterprise must be able to maintain stability through this process.
Strategy: Enhancing client/practitioner rapport Goals achieved : Training
Description: As the client may only be seeking particular advice on any given plan, the practitioner
must still be aware of the overall mechanics of the clients business. It is up to the practitioner to
inform the client on issues that are not only vital to the relationship between the parties but also
the viability of the business. As it stands today, there are many businesses that are suffering a skills
gap as the experienced baby-boomers retire and the younger less equipped millennial’s seek to
enter the workforce. This growing crisis could not only affect the business but the practitioner could
be out of work if the business can no longer support outside help due to instability from within. The
enterprise must;
Integrate the strategic training and skills development into the planning component if it is an
obvious and urgent issue for the client. If the client and business are growing and fiscally stable,
the enterprise benefits.
Strategy: Expansion and Mergers Goals achieved: Adaptation and Foresight
Description: As clients Parker School Uniforms and Dexco are both seeking to expand into new
markets via acquisition of other businesses or merging with another, this opens the door for a future
of grow opportunities for these entities. The enterprise benefits as well because the companies are
growing and are in need of advice as their implications change. Going forward with similar
companies, the enterprise must;
Inform the client of impending changes in the market that could have both positive and
negative implications on the business in the future as complexity becomes a greater factor. This
would be an obvious issue when a business expands or merges to become a larger entity. The
responsibilities can grow exponentially and the risks can become more burdensome on the
business.
Marketing, communications, and PR strategies must be adaptive to change.
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Enterprise Strategies
Strategy: Do not overpromise and under deliver Goals achieved: Credibility
Description: Though this should not be an issue of a well-established practitioner, as a sole
proprietor, there can sometimes be more risks involved in the decision making process. These
decisions affect the enterprises credibility as it relates to the client and potential clients. The
enterprise must in the long-run;
Ensure expectations are kept within ones delivery capacity. With all of the changes occurring in
the market and around the world, the practitioner should be sure to stay within the parameters
of what can be delivered.
Pertaining to integrating training and skills development into company strategy, this is one of
many where delivery could possibly exceed expectation. However, this may bring great joy to
the client as they now have a new strategy in which to ponder or the importance of the matter
is reiterated.
Include as a policy or ethical standard of the enterprise to never intentionally manipulate the
client, underperform and under delivery. The market is very interconnected and a major mishap
could potentially hinder the growth of cliental to the enterprise in the future.
Strategy: Reinvent the Enterprise Goals achieved : Adaptation
Description: Acknowledging that there is rapid change on the horizon, the enterprise should seek to
reevaluate the current situation to identify what changes if any need to be made pertaining to
business-practices, tools utilized, and what assignments/clients should not be accepted moving
forward. As the consultant becomes more successful, it should become routine for them to raise
fees and consider cutting out the bottom 15% of the market.
By not making any changes in practices or client network, the enterprise could potentially be
doomed to poor investments of time and resources.
Many practitioners can become complacent and look at short-term gains such as the latest
client check and nothing more. The enterprise should continue to utilize foresight or look at the
long-term when assessing potential future contracts even with uncertainty in the market.
The enterprise and/or practitioner must understand that continued success is not absolute, while
some failures are plausible and should be expected. The practitioner must be able to be resilient
and recreate themselves when failure happens to occur.
Strategy: Building a Brand Goals achieved: Recognition and Perception
Description: To reiterate many baby-boomers are retiring from the workforce and starting their own
businesses; many as sole proprietors. Many of them will likely be added competition in the market-
place which could affect the business activity of the enterprise. The enterprise must;
Enhance marketing and PR tool sets that will be effective in growing the brand of the enterprise
and/or services rendered.
Make sure not to exhaust all of the resources and funds on the client in case it is needed. The
enterprise must also market itself and seek out recognition wherever it can be found in this
growing market of competition.
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Strategic Initiatives
Tasks Member/s
Responsible for
change
Timeline Resources
(Initiative #1) Thriving on change: Strategy to develop long-term marketing, foresight, and/or
adaptive plans for the future.
(Practitioner) Consult a tech representative
for new ideas on burgeoning technologies.
Entities such as the Tech Shop and Impact
Hub based in San Francisco.
Practitioner 3-5 years $175-$300 an
hour to meet
with consultant
(Practitioner) Expand skill and tool sets Practitioner 3-5 years Costs vary
(Client) Must consider hiring foresight
strategists to push for long-term decision
making within Marketing and PR strategies.
Client Depends on
the situation
and urgency
Full-time yearly
($50,000–
$75,000 per)
(Client) Implement changes to current
methods and some business practices to
complex oriented market-based changes.
Client Depends on
need and
current
structure
Added
Complex
Systems
modelling
(Initiative #2) Enhancing client and practitioner rapport
Enhancing the client and practitioner
relationship
Practitioner /Client Immediate
Action
Few resources
other than
research tools
Integrate important components into the
client plan
Practitioner Situational Some Foresight
tools
Develop training and skills development
program
Client/ (Parties)
Management and
strategy team
3-5 years 04’ numbers;
$950—$1,050
per trainee
(Initiative #3) Expansion and Mergers
Adapt Marketing, Communications and PR
Strategies
Practitioner and Client Immediate
Action
Have supple-
mentary funds
for short-term
losses
(Client) Manage costs of mergers and
acquisitions
Client Immediate
Action
Initial loss of
profit should is
plausible.
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Strategic Initiatives
Tasks Member/s
Responsible for
change
Timeline Resources
(Initiative #4) Do not overpromise and under deliver
Develop workable parameters Practitioner Immediate
Action
New metrics
Over delivery when needed Practitioner Situational Increase
budget by 5%
Develop or build upon best business and
ethical practices.
Practitioner Immediate Few resources
required
(Initiative #5) Reinvent the Enterprise
Cut out the bottom 15% of the market when
needed
Practitioner Every two
years
Frees up room
for upper-end
of the market
Eliminating short-term compliancy Practitioner Immediate
Action
Few resources
required
Build-in resiliency and creativity Practitioner Immediate
Action
Few resources
required
(Initiative #6) Building a Brand
Market the Enterprise Practitioner Consistent
Action
Design & Print
Marketing
Material
Web tools &
app/software
Build a brand or overall positive perception Practitioner 3-5 years Could be
costly with
continued
changes in the
market
Manage funds wisely between the
new leads and the current client.
Practitioner Immediate
Action
70% of market-
ing budget to
new leads