WHY DO YOU NEED A STRATEGIC PLAN???
WHAT IS IT???
These questions are often asked by businesses new and old.
Many businesses DEVELOP THEIR PRODUCT AND BUSINESS IN ISOLATION. This isolation comes from not having a clearly defined strategic plan for the creation and growth of their business.
Strategic planning is an organization's process of defining itself, its direction, and the allocation of its resources to pursue said plan.
It is a living document that should be reviewed and renewed on an annual basis.
To develop a strategic plan an organization must:
1. "What do we do?"
2. "For whom do we do it?"
3. "How do we excel?"
4. “What do the customers want?”
The following is a condensed example of an actual corporate strategic plan that when applied to one of their operating divisions did not fit:
1. “What do we do?”
2. “For whom do we do it?”
3. “How do we excel?”
4. “What did the customers want?” (as defined for this division alone)
When the Division created its new strategic plan it embraced, short production runs, low set up costs, innovative digital printing on metal. This set them clearly apart from the competition. The result; the three prior years loses were converted to a significant profit in less than one year.
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Whether your business is new or old strategic planning is a crucial process to go through. Without the guidance of a strategic plan there will be many unseen or even seen but unrecognized sink holes that can devour your business. We recommend the services of a professional neutral third party to guide you through the process. This will ensure clarity of vision.
We can show you as we have shown others how to develop and implement a strategic plan that will guide your business to growth and profit.
There is no magic to strategic planning