Myths, truths and policy tools to thrive in the new decade - Quiz 5 Three Year Planning System

We have worked for at least a three-year strategic plan?

To help answer this question, consider the following observations:

Ø Every company must have a strategic plan. This does not mean that all your plans are set in stone - you must be able to adapt to changes and challenges that arise along the way. However, the very act of creating a clear strategic plan - and use it as part of your orientation course for the company - is a sign of fiscal fitness.
or companies that have strategic plans - at least three years in the future, are more likely to have a sense of their fundamental principles. These companies have an internal compass that guides them in the direction they want to go - we know what we stand for and what the company is "about".
o If your company does not have at least a three-year strategic plan, you are at risk of some counter-trends. For example, companies that do not have a strategic plan are more likely to react to change rather than embrace and adapt to change. If you do not know as a new opportunity fits into your long term goals, how do you assess whether this opportunity is right for your business?
Ø Another risk of not having a strategic plan is that the company could get caught up in chasing short-term gains at the expense of their long-term stability. A strategic plan helps to keep a company grounded and focused - it helps a company to know when to say no to certain opportunities. Good businesses must have a strong sense of self - need to know how to say, that is not what we do. They need to have a sense of their limitations and their strengths.
o One of the many stories out of the collapse of Enron Corporation in 2001, is that the company was greatly disorganized and vague in many ways - the company wanted to be all about innovation and reinvention, and think outside the box - and they were constantly churning through reorganizations and immerse themselves in new markets, but there was a strong sense of discipline driving behind any of it. Sometimes, when you are constantly thinking outside the box, which can be a sign that your core business is unfounded.

You can view different versions of this issue in your life such as: lack of planning in the program to fail. (Proverb) Planning is bringing the future into the present so that you can do something now. (Alan Lakein, author and expert on business management time) Nothing is more difficult than the art of maneuvering for advantageous position. (Sun Tzu, ancient Chinese general) Purpose inspires performance and commitment. (Ken Blanchard, author of The One Minute Manager)

Do you honestly answer that yes or no?

Why?

Why Not?

How can you just make notes to help in your life, work and business? That problem has been noticed from your thoughts when truthfully answer this question, we begin to improve, TODAY? ......