Sunday, December 18, 2011

Why Strategic Plans Fail

By Pete Babich

Strategic Planning has long been considered a necessary tool for business success. Unfortunately, many businesses will invest countless hours of their key managers' time and spend thousands of dollars publishing a Strategic Plan only to file the impressive document away and never use it. A strategic plan that is not used is worthless! This paper will discuss classical strategic planning techniques and explore some of the reasons why plans are not used to guide the business. It will also present alternative techniques that can improve the business planning process. The concepts of effective mission statements and visions will be reviewed. The distinction between "business intent" and long range plans will also be addressed. The intent of this paper is to share tools that will help make the strategic plan an integral part of business management; not just a once a year exercise for senior management.

See it in: Why Strategic Plans Fail

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