Why strategic planning matters more to growing businesses Taking the decision actively to grow a business means embracing the risks that come with growth.Spending time on identifying exactly where you want to take your business - and how you will get there - should help you reduce and manage those risks.
You should balance your vision for the business against the practical realities of your current position and changes, such as increased investment in capital and other resources that would be required to implement your vision.
Responsibilities and resources need to be assigned to the right people and you need to keep on top of the process.
Who to involve Try to find people who show the kind of analytical skills that successful strategic planning depends upon.
This guide sets out the basics of the strategic planning process.
It explains how to go about drawing up a strategic plan, it highlights some important issues to bear in mind and it shows how to turn from planning to implementation.