Does my company need a clear-cut plan that all of my people understand and "buy into?"
Do each of my people fully understand the role they must play in achieving our mission statement?
If I can increase my overall margin by 3%, how will that affect the bottom line?
In order to achieve the revenue and profit objectives, what programs and processes must be put into place
to prepare my people?
A business succeeds or fails based on management's ability to define and articulate a strategic direction.
Additionally, the business must ensure that all of the necessary resources are brought to bear to make the
strategic plan successful.
A strategic business plan streamlines decision making,
- Enhances employee buy-in and goal attainment
- Provides clear concise expectations of each department and employee (who is responsible for accomplishing
which tasks, by when, and what is the priority)
- Saves time and money
How important is it to operate your business so that the delivery of your goods/services is on
time and under budget,
- Motivates employees
- Aligns employee behavior with the strategy your vision calls for.
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Strategic Planning (SP) is the process that determines the future direction of an organization,
practice, or business. Its purpose is to help you define your vision: a clear picture of where the business is
going and what you want the end result to look like. A strategic plan allows you to create your future, not merely
forecast, or worse yet, react to market trends. That is the key concept: Strategic Planning creates - invents -
wills the company's future. If the planning is not done or done in an abbreviated mode, then the company has thrown
itself to the mercy of market forces.
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The Strategic Planning process will be much more productive when facilitated by someone outside
the business who is experienced in planning. This provides an objective approach and allows the CEO to become one of
the participants, rather than creating a situation where his staff feels they must either disagree with the boss,
or withhold comments and ideas for fear of not embracing their boss' plan.
The vital question is: Without a plan, how do you measure success? Without accurately assessing
the market, resources trends, forecasting, critical goal categories and other parameters, how do you measure success?
Maybe you are being satisfied with 104% growth rate when a 160% growth rate is possible.
Strategic Thinking and Business Planning |
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