Planning builds business value through identifying clearly defined goals and a vision that provides a distinct direction for the future. If you don’t know where you want to go, and how you are going to get there, the probability of ending up in the right place is slim to none.
Why Is it Important?
- Serves as the compass for future business and succession decisions. Generates detailed, long-term action goals for the organization, such as operating methodology, talent recruitment, effective business structuring, and effective communication.allowing you the ability to adapt to change easily.
- Enables the implementation of structures and processes critical to the fulfillment of business vision and long-term goals.
- Creates a collaborative working environment. Allows you, supporting family members, and key management the ability to discuss and confirm the vision and mission of the organization, as well as the resources needed to achieve business goals.
Symptoms of a Strategic Planning Problem:
- Vision conflict between owners, family, and key leaders
- Unclear mission, vision and values between owners, family and employees
- Low employee engagement
- High turnover
Download the Strategic Planning section of our Succession Matrix® guide.
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What are the issues impacting the value of your business?
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