1. Strategic Planning. . . Positively Influences the
Future of Your Company!
By
Terry H. Hill
1
Strategic planning is by far the most important task of any management team. Unfortunately, far too
many entrepreneurs believe that strategic planning is an exercise meant only for big businesses when, in fact,
strategic planning is equally applicable and critical to small businesses.
The start of any new product/service, program, or change initiative is always a stressful situation.
Instead of simply jumping in blindly, it is more prudent to adopt a structure and a plan. When a company decides
to begin any new product or program, or even alter an existing one, a strategic action plan can help you ensure that
your process is successful.
Strategic planning is a way to identify the present state of your company and to move it toward its
future desired state. Strategic planning aligns the strengths of your business with the available opportunities.
You develop a vision, establish a set of objectives, construct a strategy, implement and execute the strategy, and
finally monitor and evaluate the desired outcomes.
The very act of strategic planning implies a proactive style of management that anticipates future
events before the events actually take place. Proactive management eliminates the possibility of being over-
run by the event, and sets in place, plans and procedures to cope with this type of event should it present itself. This
process develops a frame of reference for your sales forecasts, operational expense budgets, and capital
requirements.
The benefits of strategic planning are quite evident. An organization simply cannot know what it is
currently doing, where it is going, or what it intends to do to get there, unless the organization periodically
establishes and monitors its goals. Strategic planning enables people to influence the future of their company by
focusing on the important resources of time, talent, and money, while properly allocating these resources to provide
the most benefits.
By following the sequence of the strategic planning activities, you and your staff will know your
business better, will value what your business does successfully, and will help you to better plan for
threats and opportunities that your business may face in the marketplace.
To learn more about creating and implementing winning strategies, you can download a copy of the free Special
Report, How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties at
www.StrategicPlanningReport.com
Copyright © 2010 Terry H. Hill
You may reprint this article free of charge in your newsletter, magazine, or on your website, provided that the article is unedited, and that the
copyright, author's bio, and contact information below appears with each article. Articles appearing on the web must provide the following
hyperlink to the author's web site at http://www.TrainingforEntrepreneurs.com.
Terry H. Hill is an author, consultant, trainer, mentor, and the founder & managing partner of Legacy Associates, Inc., a business consulting firm
based in Sarasota, Florida. Legacy Associates, http://www.legacyai.com, is the parent company of the online small business, entrepreneurship,
and management training website, http://www.TrainingforEntrepreneurs.com.