Strategic Planning in the Small Business

Unit

6

Content

Process

• Review,
  reaffirm or
  modify the com­

panies mission statement

*

Review, reaffirm

or modify the com­

panies

goals

*   Determine

if the KRAs

are still the same

*   Draft measurable

and quantifiable

objec­

tive(s)

to address each KRA

October -December

*

Finalize objectives

and draft strategies

to

meet each

objective

*   As each Action

Plan Coordinator

to pre­

pare an action plan

for each strategy

*   Calculate

and approve

a proforma

budget

• Specify evaluation
  measures and control

forms

D.  The Board

of Directors

A great deal

of information

exists which

suggests if used properly

a formal board

of

directors

or advisory

board can be of

tre­

mendous

benefit to a

small business owner.

This is particularly

true for well established

firms as

they prepare, implement

and eval­

uate and control

their strategic plan.

Such

a board may or

may not include out­

side directors.

Explain the advantages

and disLJvantages

of Put

up TP 6-5: Outside

board member

outside

directors.

characteristics.

Explain the advantages
and disadvantages
of Put
up TP 6-6:
Inside board member

inside directors.

characteristics.

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