STRATEGIC PLANNING

Dealing with immediate issues may make it difficult to understand the business’s ultimate objectives.

A business strategy or review will:
Provide clarification and focus
Provides a logical framework within
  which a business can grow
Provide a basis for discussion with
  third parties: agencies, banks, and
  investors
Demonstrate the business has thought
  through its development in terms of
  products, management, finance,
  markets and competition
Be the benchmark against which actual
  performance is measured and reviewed
Give a realistic view of the expectations
  and long-term objectives for an
  established business or new venture
Help minimise mistakes and recognise
  hidden opportunities
Ensure the impact of environmental and
  customer changes are fully integrated
  into the business’s thinking

Choose: The plan sets out the following

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