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Keeping the Family Business HealthyDeveloping a Strategic Plan for the Business

Keeping the Family Business Healthy: Developing a Strategic Plan for the Business [The term strategic planning refers to the process of developing a business strategy. Strategic planning provides a systematic way of asking key business questions and is designed to create insights into the company and the environment in which it operates. Such an inquiry challenges past business practices and opens the way for choosing new alternatives. The result should be a well-prepared strategic plan that spells out specific steps to better satisfy customers, increase profit, and revitalize the company for the next generation. To accomplish these goals, the plan sets forth the chosen mission of the business, the direction of future growth, and various programs to achieve that growth. It thus indicates ways in which the business can compete more effectively.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Keeping the Family Business HealthyDeveloping a Strategic Plan for the Business

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Publisher
Palgrave Macmillan US
Copyright
© Palgrave Macmillan, a division of Nature America Inc. 2011
ISBN
978-1-349-58470-3
Pages
105 –136
DOI
10.1057/9780230116122_5
Publisher site
See Chapter on Publisher Site

Abstract

[The term strategic planning refers to the process of developing a business strategy. Strategic planning provides a systematic way of asking key business questions and is designed to create insights into the company and the environment in which it operates. Such an inquiry challenges past business practices and opens the way for choosing new alternatives. The result should be a well-prepared strategic plan that spells out specific steps to better satisfy customers, increase profit, and revitalize the company for the next generation. To accomplish these goals, the plan sets forth the chosen mission of the business, the direction of future growth, and various programs to achieve that growth. It thus indicates ways in which the business can compete more effectively.]

Published: Jan 21, 2016

Keywords: Market Share; Planning Process; Family Business; Mission Statement; Business Owner

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