Successful Business Planning: Energizing Your Company's Potential

Successful Business Planning: Energizing Your Company's Potential

Successful Business Planning: Energizing Your Company's Potential

Successful Business Planning: Energizing Your Company's Potential

Synopsis

Using a real company case history, Norton Paley explains the techniques of building a strategic business plan; he then shows you how to develop a one-year tactical section and links it to the strategic section.

Further case studies of companies facing severe competitive problems show how they developed successful strategies for winning through. The book ends with valuable checklists for developing competitive strategies and help topics.

Excerpt

Case example

Dow Chemical executives conducted a strategic planning session during the 1990s that examined in depth each of their diverse businesses. The aim: set a firm direction for the organization in a changing competitive environment. Looking as far as they could into the 21st Century, they concluded that Dow’s total concentration of resources would be directed to chemicals.

Further, as long as the company could retain global leadership in its various markets, it would avoid diversification, which was prevalent among Dow’s competitors. Implementing the new strategy meant selling off such well-known consumer products as Ziploc bags and Saran Wrap.

In place of those divested business units, extensive acquisitions were made, including Union Carbide and numerous other chemical companies. Once all the divesting, acquiring and consolidating of assets, people and businesses were completed, a comprehensive restructuring of Dow was set in motion to bring the diverse units into a cohesive force to achieve the strategic objectives of the plan.

Among the changes: Dow formed a Web-based buying consortium with other large companies, which resulted in huge savings. It also established a Web strategy to improve interactions with its customers through, ‘My Account at Dow’. This feature established the interactive Internet connection for customers to conveniently place orders, track orders and handle billings.

The centerpiece of the restructuring – and the essential component to effective leadership – was Dow’s enhanced ability to control its geographically dispersed businesses located throughout North America, Europe, Latin America, and the Pacific Rim. Dow streamlined its corporate structure so that layers of management from the CEO at its headquarters in Midland, Michigan to the most junior employees at an off-site location were reduced from its former 12 layers to a mere five . . .

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