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Paper Topic:

Personal Strategic Plan

PERSONAL STRATEGY

For

HOBBY /SKILL AS HANDYMAN

By

Table of Contents

TOC \o "1-4 " \h \z \u HYPERLINK \l "_Toc8 " Personal Vision PAGEREF _Toc8 \h 2

HYPERLINK \l "_Toc9 " Personal Objectives PAGEREF _Toc9 \h 2

HYPERLINK \l "_Toc0 " Strategy PAGEREF _Toc0 \h 3

HYPERLINK \l "_Toc1 " Competitive Advantage PAGEREF _Toc1 \h 3

HYPERLINK \l "_Toc2 " Implementation PAGEREF _Toc2 \h 5

HYPERLINK \l "_Toc3 " Measurement PAGEREF _Toc3 \h 6

HYPERLINK \l "_Toc4 " Conclusion PAGEREF _Toc4 \h 7 HYPERLINK \l "_Toc5 " Appendices PAGEREF _Toc5 \h 8

HYPERLINK \l "_Toc6 " Macro-environmental Analysis PAGEREF _Toc6 \h 8

HYPERLINK \l "_Toc7 " Micro-environmental Analysis PAGEREF _Toc7 \h 9

HYPERLINK \l "_Toc8 " SWOT Analysis PAGEREF _Toc8 \h 9

HYPERLINK \l "_Toc9 " Five-forces Analysis PAGEREF _Toc9 \h 10

HYPERLINK \l "_Toc0 " Bibliography PAGEREF _Toc0 \h 12 Personal Vision

My overall vision can be stated thus : To develop my hobby /skill as a handyman , and become known in my community as an expert handyman (Definition : I define a handyman as someone who provides general maintenance services such as plumbing , electrical , building , etc

Personal Objectives

To achieve this vision , I have the set the following objectives for myself for the next 3-5 years

Acquire the skills required by the industry

General purpose maintenance requires a wide range of skills , including skills in electrical , plumbing , building , etc . These are regulated industries , and have local standards that must be satisfied when providing services in these industries . Knowledge of the appropriate regulations and standards is therefore critical to success

Increase experience in maintenance work

Breadth of experience is critical in providing a satisfactory service since the service requirements are likely to be as individual as the person requesting the service

Focus on home maintenance services and expand the services offered

To satisfy my success criteria , I will focus on home maintenance services , as opposed to services provided for businesses

Strategy

Home maintenance services are demand-driven , i .e . are customer-initiated . Customers are also demanding in terms of the level of service provided , and have very subjective values and criteria that are used to measure service levels . Customers are also generally cost-sensitive . Typical criteria used to measure service levels include cost , amount of re-work , adherence to specifications , etc . Key success factors in this arena therefore include

Technical competence

Cost

Professionalism of the service offered

The strategy to be adopted in to achieve the stated vision capitalizes on these elements of cost and technical competence , and utilizes them to achieve a differentiation advantage . The basic strategy , in terms of Porter 's four generic strategies , therefore involves a differentiation focus

This differentiation is achieved by focusing on specific services , and developing extensive technical competence in those service areas . These internal competencies thus become the primary source of competitive advantage . However , to further enhance the differentiation , the services will be provided at minimal cost . Only materials required will be charged for (at cost

Competitive Advantage

Typical large-scale providers of maintenance services (such as Dial-a-Plumber , etc ) share the following characteristics

Focus on specific narrow competence areas . So , such...

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