How to Create a Strategic Plan for Your Business- Edward J. Herzstock

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How to Create a Strategic Plan for Your Business
Edward J. Herzstock
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The most successful small businesses,
corporations, and organizations are never static.
Their leaders are constantly looking to the
future, pursuing a variety of short-term and
long-term objectives while attempting to gain a
competitive advantage over competitors. These
leaders define the visions of their organizations
and use strategic planning to achieve
organizational goals within a specific time
frame Edward Herzstock. However, before those
objectives can be met, a solid strategic plan
must be implemented.
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Determine your goal Your goal can range from the
broad (such as launching a company) to the
specific (such as changing the color scheme of a
brand). Conduct a self-evaluation Taking a hard
look at the organization as it currently exists
is part of the strategic planning process. Do you
have the necessary cash flow and human resources
to see your plan through to completion? What are
the most important assets you have at your
disposal? This is referred to by business
professionals as a Swot, which stands for
strengths, weaknesses, opportunities, and
threats..
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Form a group of members  Determine who in your
organization will be in charge of this effort. It
is critical that whoever you deputize be given
the freedom to make strategic decisions quickly.
Micromanagement from a CEO or board members can
harm morale and halt a process, so delegate
authority to people whose judgment you trust. Do
your homework  If you have business objectives,
find out what you need to do to achieve them. For
example, if you want to increase your market
share, figure out how much you need to increase
your customer base.
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Create a road map to success Youre ready to lay
out your plan in detail once youve completed a
thorough self-assessment, assembled a carefully
selected team, and gathered the necessary data.
Establish strategic goals and space them out at
reasonable intervals. Push your organization to
be the best it can be, but set goals that are
achievable. Nothing beats the rush of setting
lofty goals and then exceeding themEdward J.
Herzstock. You can enjoy this process and proudly
take your business organization to the next level
with the help of a strong strategic management
process.
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