Can a smaller company afford the time for strategic planning?
Experience shows that the top management team will devote approximately 2-4% of its time to practical strategic planning. In reality, structured strategic planning is not something more to do, but rather a better way of doing something already being done. Indeed, in the long run it is a net time saver. It should be acknowledged that there is a danger of strategic planning becoming a time trap. Avoiding that trap is one of the fundamental purposes of practical strategic planning.
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