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Home My WebLink About04-20-2016 Agenda * C17Y OF -�` / * Airport Advisory Board � �� , ' April 20, 2076 7.30 AM � —� WAS H f N GTON Airport Office Conference Room 1 AGENDA SPECIAL MEETING: 7.30am CALL THE SPECIAL MEETING TO ORDER/ROLL CALL AGENDA ITEMS FOR BOARD DISCUSSION: 1 STRATEGIC BUSINESS PLAN TAB 7 SCHEDULE FOR UPCOMING MEETINGS: The Board Chair and Airport Manager shall determine the agenda. Scheduled meetings of the Auburn Advisory Board are as follows: • Regular Board Meeting—`Updated' May 11th, 2016, 7 30 AM: Auburn Airport Office Conference Room 1, 506 23r° St, Auburn, WA 98002 • Regular Board Meeting—August 17th, 2016, 7.30 AM: Auburn Airport Offce Conference Room 1 506 23rd St, Auburn, WA 98002 ADJOURNMENT OF MEETING Page 1 of 1 Ph: 253-333-6821 Fax: 253-333-6822 Email: info@s50wa.com Website: www.s50wa.com * ,� ., *�g T�� Memorandum U WASHINGTON , To: Mark Babcok, Chair John Theisen, Vice-Chair Don Peters, Boarci Member Gary Gustafson, Board Member Sparrow Tang, Board Member From: Kevin Snyder, AICP, Director of Community Development& Public Works cc: Jamelle Garcia, Aviation Management Group Kasey Maiorca, Aviation Management Gmup Date: April 15, 2016 Re: APRIL 20, 2016 SPECIAL MEETING RE: STRATEGIC BUSINESS PLAN— SWOT ANALYSIS At the Airport Advisory Board's March 16, 2016 special meeting, the Board and staff discussed the idea of the development of a Strategic Business Plan for the Aubum Municipal Airport. At the end of the discussion, the Board agreed it was interested in pursuing the ' development of a Strategic Business Plan for the Airport and identified 'Rs interest in holding a special meeting on April 20, 2016 to begin the first step in this development. At the March 16�' meeting, staff discussed that an appropriate first step in the development of a Strategic Business Pian would be to conduct a Strengths, Weaknesses, Opportunities and Threats (SWOT) exercise. Please find attached the following infortnation to assist the Board in preparing for the SWOT exercise on April 20"'• • SWOT Overview • Example Primary Factors for SWOT Analysis • Blank SWOT Template for Individual Board Members— staff encourages individual board members to make notes in advance of the April 20�h Board meeting to help with the discussion In addition, I have included a copy of the briefing paper on a Strategic Business Plan that I previously provided to you for the March 16" Board meeting. SWOT OVERVIEW SWOT or strengths, weaknesses, opportunities and threats, is an analytical tool that guides you to identify your organization's strengths and weaknesses (S-W), as well as broader opportunities and threats (O-T). Developing a fuller awareness of the situation helps with both strateqic qlanninp and decision-makinq. SWOT analysis aims to identify the key internal and extemal factors seen as important to achieving an objective. SWOT analysis groups key pieces of information into hvo main categories: 1 internal factors—the strengths and weaknesses internal to the organization 2. external factors—the opportunrties and threats presented by the environment external to the organization Elements of a SWOT Analysis A SWOT analysis focuses entirely on the four elements included in the acronym, allowing organizations to identify the forces influencing a strategy, action or initiative. When drafting a SWOT analysis, individuals typically create a table split up into four columns to list each impacting element side-by-side for comparison. Strengths and weaknesses won't typically match listed opportunities and threats, though they should correlate somewhat since they're tied together in some way Internalfactors The first two letters in the acronym, S (strengths) and W (weaknesses), refer to internal factors, which means the resources and experience readilv available to vou. Examples of areas typically considered include: . Financial resources, such as funding, sources of income and investment opportunities • Physical resources, such as your company's location, facilities and equipment • Human resources, such as empioyees, volunteers and target audiences • Access to natural resources, trademarks, patents and copyrights • Current processes, such as employee programs, department hierarchies and software systems Externalfactors External forces influence and affect every company, organization and individual. Whether or not these factors are connected directly or indirectly to an opportunity or threat, it is impoRant to take note of and document each one. External factors tvpicallv reference thinqs vou-or vour companv do.not controi, such as: • Market trends, like new products and technology or shifts in audience needs . Economic trends, such as local, national and international financial trends • Funding, such as donations, legislature and other sources • Demographics, such as a target audience's age, race, gender and culture • Relationships with suppliers and partners • Political, environmental and economic regulations SWOT ANALYSIS Primary factors � Strengths W Weaknesses •Advantages •Disadvantages •Experience, knowiedge •Gap in experience, knowledge •Unique caractenstics •Financial aspects •Resources •Re�iability and trust •Geographical advantage, location •Loss of key staff •Competence, capabilmes •Geographical factors •Quality, reputation � � Opportunities ,- Threats •Strategic alliances, partnerships •Loss af alliances and partners •Product development •Price infaltion/deflation •Import, export •Strong competition •Innovation an technology development •Competitors new products and innovation Auburn Municipal Airport- Individual Board Member SWOT Analysis STRENGTHS: WEAKNESSES• OPPORTUNIITES: THREATS: AUBURN MUNICIPAL AIRPORT(AMA)—STRATEGIC BUSINESS PLAN Goopled Results for Strateaic Business Plan: Simple Definition: Intemal document that(1) outlines an organization's overall direction, philosophy, and purpose, (2) examines its current status in terms of its strengths, weakness, opportunities, and threats', (3) sets long-tertn obJectives, and (4) formulates short-term tactics to reach them. Expanded Defrnition: A strategic business plan is a written document that pairs the objectives of a company with the needs of the market place. Although a strategic business plan contains similar elements of a tradition.al plan, a strategic plan takes planning a step further by not only defining company goals but utilizing those goals to take advantage of available business opportunities. This is achieved by carefully analyzing a particular business industry and being honest about your company's strength and weakness in meeting. A strategic business plan is necessary to optimize market research and to attain optimum market share for your business. The plan allows businesses to focus on a particular niche in the marketplace, which makes sales, advertising and customer management more effective. The plan allows a company to know as much as possible about the needs of its customers and gaps in the marketplace that need to be filled. A strategic business plan helps a company provide better, more targeted service to its clients. A strategic business plan includes extensive market research, industry trends and competitor analyses. A strategic plan will include the components of a traditional plan, such as an executive summary, marketing anaiysis and financial statements, but a strategic plan will be more specific on how the company will go about achieving company goals. For example, a strategic business plan will attempt to idenlify a target market, narrow it down to a manageable size, and establish a strategy for acquiring those customers. Writing a strategic business plan has many advantages. The plan can serve as an outline for successful completion of company milestones. Company owners are in a better position to not only understand their business but become experts in their industries. A strategic plan helps executives understand the direction in which their company is headed by reviewing past progress and making changes to improve and grow The plan is an organizational tool that helps to keep a company on track to meet growth and financial objectives. Purpose Statement from Renton Municioal Airport Business Plan: It reviews the business potential for Renton Airport and develops a plan for its management and operation that addresses both the needs of the aviation community and the neighborhoods surrounding the airport. It is unusual for an airport, especially a general aviation airport, to do a business plan. This Business Plan addresses many of the areas that a private sector plan would address, for example, an industry overview and market analysis about trends and competition, a discussion about products and services and possible future changes, a review of the legal and � A Strength,Weakness,Opportunities and Threats(SWOT)analysls is an effeclive"intemal diagnostic"tool that Is oken a precursor to strategic planning 1 March 16, 2016 regulatory context, and the management policies and procedures used in the conduct of business. Most company business plans, however, would not be quite as broad in scope as this project. This Plan looks at a 20-year time horizon, with firmer informatioh for the 10-year horizon, rather than the three-year time frame that is typical for a business plan. Kev Features of a Strateaic Business Plan: . Reflect market niche and market factors of the business • Goal oriented • Performance oriented • Time oriented (short-term and/or long-term) • Role oriented . Areas of Focuses can include: o Operations o Management o Market Analysis o Capitallnvestment o Economic Development � � � � 2 March 16, 2016