Some essential points which should to be observed during the review and planning process include:
- Relate to the medium term i.e. 2/4 years
- Be undertaken by owners/directors
- Focus on matters of strategic importance
- Be separated from day-to-day work
- Be realistic, detached and critical
- Distinguish between cause and effect
- Be reviewed periodically
- Be written down.
As the precursor to developing a strategic plan, it is desirable to clearly identify the current status, objectives and strategies of the business.
