The CEDIA board and staff have been working for the last several months on a five-year strategic plan with esteemed strategic planning expert Dr. Rebecca Homkes, a teaching fellow at the London School of Economics who works with top global companies on growth strategy and execution. Dr. Homkes is at CEDIA HQ this week to work with the CEDIA staff and board on the next stage of the organization’s global strategy. We sat down with her for a few minutes to discuss the process.
Where did this process start for CEDIA and why is it important?
After CEDIA became globally aligned, the leadership at both the board and staff level decided that it was important to come together to set a unified strategy for the entire organization.
CEDIA is an organization that is highly focused on its members and is doing a lot of things to support the membership. However, it’s important to make clear decisions about how to prioritize the work.
What is exciting about the process is that the staff and board are working in parallel, which means the final strategy product will be one that everyone will have touched.
Can you give us a 10,000-foot view of what the strategy work with CEDIA is all about?
This strategy work is all about better defining and understanding the industry that CEDIA as an association serves, which customers we are going to serve, and the value proposition that we are going to offer those customers.
You have been working with CEDIA since January, what aspects of the strategy work has been completed so far?
When it comes to developing strategy there is a tendency to go immediately to actions and priorities, but what you need to do (especially in a fast-changing industry) is define the bounds of the industry and the key things that are shaping the industry.
To this point we have worked through defining and understanding the industry and being clear about the set of assumptions we are making about it. We have narrowed in on understanding the customers we should serve and we are in the midst of the work to better understand our value proposition to those members. This process is very important and the staff and the board are working very closely on this part of the strategy.
How have/will CEDIA members been taken into account?
Throughout the entirety of the process strategic decisions always have the members at the center. One of the exciting pieces of strategy work that we will be doing over the summer is reaching out to a select number of members to get direct feedback. The leadership team will then communicate the strategy to the membership at the end of the year.
Can you explain the timeline for the strategy?
Throughout the course of 2017 we will be in the development process for the strategy. Though the summer we will be working on the organization’s value proposition. Once that has been finalized we will make some clear decisions about the priorities going forward. We are thinking about execution throughout the entire process -- all decisions that are made are made with execution in mind.