{"id":3839,"date":"2024-01-08T16:50:21","date_gmt":"2024-01-08T08:50:21","guid":{"rendered":"https:\/\/www.mssbizsolutions.com\/?p=3839"},"modified":"2024-01-08T16:54:33","modified_gmt":"2024-01-08T08:54:33","slug":"why-companies-must-plan-strategically-every-3-to-5-years","status":"publish","type":"post","link":"https:\/\/www.mssbizsolutions.com\/why-companies-must-plan-strategically-every-3-to-5-years\/","title":{"rendered":"Why Companies Must Plan Strategically Every 3 to 5 years"},"content":{"rendered":"

\u00a0The answer is too straight to the point. It’s because…<\/span><\/p>\n

If we fail to plan, we plan to fail.<\/span><\/strong><\/p><\/blockquote>\n

Not being consistent with strategic planning or worse, not planning at all is like walking or running non-stop but not going in any clear and specific destination. And companies are no different. It’s like the business just goes through the drill every year and just settles for still being able to exist and managing not to close down. Mediocre. Complacent.<\/span><\/p>\n

The danger with not strategizing at least every year (Tactical Planning)<\/a> is that companies tend to keep on doing the same things but expect to be getting different or better results. It doesn’t work that way.<\/span><\/p>\n

Companies end up being transactional.<\/span><\/p>\n

When we say transactional, what we mean to say is too routine to a fault. Current customers or clients avail of a product or a service and then the company just provides or delivers. It just becomes a vicious cycle. As long as the company is earning, meeting customer demands, and paying for its employees’ salaries, not a problem. Well, that’s not the case.<\/span><\/p>\n

Unfortunately, no company out there would just like to remain stagnant.\u00a0 All companies desire to grow<\/a>, increase their revenues and profits, hire more people, innovate and introduce more value-adding products and\/or services<\/a>, or widen their influence and reach in the market.<\/span><\/p>\n

Now, the question is how can all of these ambitions be realized if a company doesn’t do Strategic Planning<\/a> and just keeps on doing the same things?<\/span><\/p>\n

What doesn’t challenge us, doesn’t change us and what doesn’t change us doesn’t help or make us progress.<\/span><\/strong><\/p><\/blockquote>\n

Companies must be planning strategically every 3 to 5 years. At least, there must be tactical planning every 1 or 2 years, if not strategic planning.<\/span><\/p>\n

In these must-do company strategic planning sessions, the company gets to revisit its Vision, Mission, and Core Values<\/a> to check the following:<\/span><\/p>\n