2017-2020 STRATEGIC PLAN - HCCMO · Considering the results of the situational ... HCCMO’S SWOT MATRIX (consolidated input) SWOT Analysis HELPFUL to Achieving ... the TOWS analysis

2017-2020 STRATEGIC PLAN

Submitted by:

[email protected] | Orlando, Florida1

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 2018-20 Strategic Plan 2

CONTENTS

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EXECUTIVE SUMMARY

• In 2018, the Hispanic Chamber of Commerce of Metro Orlando (HCCMO) will declare 25 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.

2HCCMO 2018-20 Strategic Plan 4

EXECUTIVE SUMMARY


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 manyinstances 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 Deliver Market-Driven Programsü Promote HCCMO’s Valueü Develop and Engage Staffü Strengthen Board Effectivenessü Improve Operational Oversight

HCCMO’S GUIDING PRINCIPLES

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GUIDING PRINCIPLESMission 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

GUIDING PRINCIPLESValues


VALUESIn 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.

METHODOLOGY & ANALYSIS

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METHODOLOGY & ANALYSIS

The first step in determining HCCMO’s strategic priorities for the next 18 to 24 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 AuditFor this analysis, the consultant conducted one hour interviews with each staffmember and over 32 hours of meeting time with the current CEO. This internalengagement produced the following perspectives:

ü Passionate and dedicated staffü Lacking operational plan to direct resources efficientlyü Functional expertise exist, but synergistic execution is missingü HR related policies, procedures and programs are not adequate


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 marketplaceü Trustee/Member value needs refreshing ü Events represent the organization’s sweet spot and image builder ü Expand advocacy focus and business connecting programs

METHODOLOGY & ANALYSIS Cont.


Economic OutlookThe 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


TRENDS AND ISSUES

The operational assessments, market scan and stakeholder probes revealed future focus points for HCCMO:

q Requirement to effectively communicate valueq Staff retention q Stakeholder perception of leadership q Revitalized governance structure q Need for federal, state and local level advocacyq Conversion to digital communication tools q Create impact marketing platformsq Changing regional demographics

SITUATIONAL ASSESSMENT

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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’S SWOT MATRIX (consolidated input)

SWOT Analysis HELPFUL to Achieving Objectives HARMFUL to Achieving ObjectivesInternal Origin(organizational attributes)

Strengths Weaknesses

1. Passion/Energy2. Staff Commitment3. History/Goodwill4. Access to Resources5. Financial Stability6. Board Commitment7. Centralized Location (NEC)8. Loyal Membership9. Successful Events (Fundraisers)10. Effective Cohort Groups (LEADS)

1. Financial Management Systems2. Membership Retention3. Market-Driven Programming4. Lacking SOPs at the Staff Level5. Resource/Structure Alignment 6. Market Research Focus7. Employee Retention8. Employee Development9. Board/Staff/ Relations10. Strategic Plan- Implementation

External Origin (environmental attributes)

Opportunities Threats

1. Tell Story/Successes/Impacts2. Utilize Competitive Data and Research3. Market Development Planning4. Influx of Latinos to region5. Leveraging Existing Resources6. Operational Capital Investment7. Market-Based Programming8. Social Media Strategy9. Relevant Trustee Engagement 10. Partnership Cultivation

1. Social Media Networking Reach2. Weakening Institutional Knowledge 3. Ineffective Board and Committees4. Continued Staff Departures5. Questionable Value for Membership6. Questionable Value for Trustees7. Sponsorship for Key Initiatives8. Unfavorable Market Climate 9. Mission Creep from other Chambers10. Leadership Stability/Credibility


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

EXTE

RNAL

FACT

ORS Strengths (S) Weaknesses (W)

Opportunities (O) Strengths/Opportunities (SO)

Weaknesses/Opportunities (WO)

Threats (T) Strengths/Threats (ST)

Weaknesses/Threats (WT)


SWOT DRILL DOWNHCCMO’s Positioning Statements

Strengths Weaknesses

S1. Long-standing, well regarded advocate for Latino businesses

S2. Loyal and engaged membership

S3. Comprehensive and easily accessible business development resources

S4. Strong history of delivering impactful revenue generating events

W1. Board effectiveness and structure

W2. Market-based capacity building and business development programs for membership

W3. Formal staff development and performance systems

W4. Strategic membership acquisition and retention plans

Opportunities Threats

O1. Capitalize on competitive research and markettrends

O2. 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

O4. Develop comprehensive stakeholder engagement plan

T1. Membership shifts to social media for networking value

T2. Operational inefficiencies due to staff departures

T3. View of HCCMO’s leadership by stakeholders

T4. Regional decline in Latino business opportunities


TOWS ANALYSISSTRENGTHS AND OPPORTUNITIES

1. (SO, O4)- Engage loyal membership to develop and have ownership in our stakeholder engagement plan

2. (S4, O2) - 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


TOWS ANALYSISOPPORTUNITIES AND WEAKNESSES

1. (O2, W1)- Leverage the Board’s commitment and expertise to develop strategic and operational alliances.

2. (O4, W2) - 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.


TOWS ANALYSISSTRENGTHS AND THREATS

1. (S4, T1) - Redesign marketing communications programs to elevate event and program participation through enhanced social media platforms

2. (S3, T2) - Optimize members’ resources and improve service delivery by outsourcing critical HR activities

3. (S2, 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


TOWS ANALYSISWEAKNESSES AND THREATS

1. T2, W1, W3) - Develop and implement a performance management system for staff. For the Governance team, establish a Board Effectiveness Program.

2. (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, W2, 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.

STRATEGIC PRIORITIES

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q Promote HCCMO’s Value

q Develop and Engage Staff

q Strengthen Board Effectiveness

q Fortify Operational Oversight

q Deliver Market-Driven Programs


STRATEGIC PRIORITIES


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.


STRATEGIC PRIORITY:DEVELOP AND ENGAGE STAFF

INTENTIONIn 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 GOALAlign roles and accountabilities for operational excellenceSTRATEGIES

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


STRATEGY PRORITY:PROMOTE HCCMO’S VALUE

INTENTIONHCCMO’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 GOALPromote membership value and member accomplishmentsSTRATEGIES

q Develop a brand messaging and digital media strategyq Implement stakeholder listening and engagement campaigns q Merchandise member successes and key program outcomes


STRATEGIC PRIORITY:IMPROVE OPERATIONAL OVERSIGHT

INTENTIONThe 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.

STRATEGIESq Invest in performance visibility software systems q Create a pro forma evaluations for all events and programsq Establish an operational dashboard for real-time visibility on key

indicators

STRATEGIC GOALRefine financial reporting and improve operational accountability.


STRATEGIC PRIORITY:STRENGTHEN BOARD EFFECTIVENESS

INTENTIONThe 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 GOALRevamp governance activities for mission alignment and effectiveness.STRATEGIES

q Re-evaluate governance activities against best practicesq Re-examine meeting protocols and committee structure for alignment

with strategic directionq Design a board member orientation and expectations manual


STRATEGIC PRIORITY:DELIVER MARKET DRIVEN PROGRAMS

INTENTIONTo 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.

STRATEGIESq 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

STRATEGIC GOALAlign programs and services to target member and market needs.


CONCLUSIONSOverall, the 2018-2020 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.

2017-2020 STRATEGIC PLAN - HCCMO · Considering the results of the situational ... HCCMO’S SWOT MATRIX (consolidated input) SWOT Analysis HELPFUL to Achieving ... the TOWS analysis

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