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What�s a realistic timeline for developing a Strategic Plan?

Home » Management » Basics of Strategic Planning » What�s a realistic timeline for developing a Strategic Plan?

There is no one set timeline for developing a strategic plan. The timeline for the plan is entirely dependent upon the business, the type of plan being contemplated and any clearances needed for regulation.

For example, if the type of venture being proposed is a new brand of biodegradable tire that blends organic and synthetic materials, you must build into the timeframe such things as lobbying the U.S. Department of Transportation, safety testing under a myriad of conditions and actual road testing of the new tire. Don�t forget the environmental testing as well. If the selling point is that the tire is biodegradable, then teams of experts will want to examine the tire in a landfill after a period of time to ensure that it has begun degrading and that the chemicals released are not harmful to the surrounding plant and animal life. In the case of a small business bakery introducing a new catering service, the timeline obviously wouldn�t be as intense. For both businesses, however, the strategic plan is vital. The odds of success are certainly not in their favor without the due diligence of research for a strategic plan. Also, it�s important to note here that while some may think of research happening after the development of the strategic plan, the two really should go hand in hand. With that said, a realistic timeline for developing a good strategic plan is entirely dependent upon the type of business you are in.

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