Systems Thinking in Strategic Planning

One of the most useful tools for good strategy analysis is systems thinking.  Some people think this means you have to treat your business like a computer program, but really it’s simply a way to think through all of the connections that affect your business and how...

Succession Planning in a Family Business

By M. Dana Baldwin, Senior Consultant Good friends of mine were the fourth and fifth generation of their family in a very successful business.  I interviewed one of the fourth generation some years ago about how they went about doing succession planning for their...

What is Strategic Thinking?

As you may know from Simplified Strategic Planning, strategy is the course or direction of an enterprise.  In business, this revolves around three basic questions:  What do we sell? To whom do we sell it? How do we beat – or better yet, avoid – competition? Strategic...

Planning with estimates

By Robert W. Bradford Estimates are, simply put, numerical assumptions.  In strategic planning, we must deal with a variety of estimates.  Some of these estimates are partially under our control (such as our sales number for the coming year) and some of them are...