Strategy consulting: Business plan and strategy for Gauteng Growth and Development Agency IDZ
Simply put, a business plan is a formal statement of what an organisation aims to achieve, it explains the reasons why it will or should achieve it and it offers solutions for achieving it. The Gauteng IDZ was in need of a comprehensive business plan that clearly articulated its vision, mission, business goals and key objectives and that offered a clear path to establish the organisation and enable it to fulfil its mandate. Due to an upcoming board meeting, the business plan had to be developed in a short period of time so that it could be ready for approval by the board.
The Gauteng Industrial Development Zone (IDZ) is an initiative of the Gauteng Growth and Development Agency (GGDA), which is the executive arm of the Gauteng Department of Economic Development. The main objective of the Gauteng IDZ is to become a leading IDZ whilst supporting and driving the objectives of the GDED and the GGDA. This includes facilitating and promoting inclusive and competitive economic growth and development through focused support to targeted sectors and strategically positioning Gauteng as a global city region.
Stone’s approach to meeting the need
Stone deployed its bespoke Pebble Ring Thinking Methodology® to develop a fully integrated business strategy that places the goals and objectives of the organisation at the centre of every activity. To ensure that a comprehensive strategy was developed within the tight deadlines at hand, Stone compiled a production schedule that outlined upfront where and when participation of GGDA officials was necessary.
The project was kicked off with a strategic workshop with the key GGDA officials who form part of the Gauteng IDZ programme. To save time and ensure that the session was as constructive as possible, Stone processed all the business documentation and information that was available, did some desktop research and developed a draft framework for a business plan prior to the workshop already.
During the workshop, all this business information was revisited and a vision, mission, values, goals and objectives were developed. Under the guidance of Stone, the team also conducted a PLEST scan, a competitor and SWOT analysis and mapped the various clusters of target audiences. Completing this exercise at the start of the strategy development process was extremely useful as it realigned and reaffirmed the strategic objectives, illustrated the gaps and helped to identify the disconnect between where the organisation was and where it wanted to be. This formed the foundation of the strategy development process.
Results achieved and value added for Gauteng Growth and Development Agency IDZ
Stone developed a robust business plan and strategy for the Gauteng IDZ that now serves as a clear blueprint of why the Gauteng IDZ will exist, what it will do, who will benefit from its operations, how it will operate and by when it will be relevant. The plan also outlines the work that has been done so far and offers practical and implementable guidance to take the organisation forward. Ultimately it will help to establish the Gauteng IDZ, enable it to deliver on its mandate and secure investor and stakeholder support. The plan was ready for approval by the board within the timelines provided.