The URL can be used to link to this page

Home My WebLink AboutThe Citizen, 1991-10-23, Page 22PAGE 22. THE CITIZEN, WEDNESDAY, OCTOBER 23, 1991. Businesses need strategic planning, speaker says BY SHELLEY MCPHEE HAIST STRATEGIC PLANNING - "The process by which the guiding mem bers of an organization envision its future and develop the necessary procedures and operations to achieve that end." — John Geddes, Dynamic Planners Inc. A football coach uses a game plan. A teacher uses a lesson plan, a director uses a script. In games, in education, in entertainment, in business - a plan is an essential tool for success and survival. John Geddes, president of Dynamic Planners Inc., London was at The Red Maple Inn, Vanas- tra, on October 17 to address more than 70 Huron County business people on the necessity of strategi cal business planning. The workshop was the second in a series of 10 being sponsored by the Federal Business Development Bank's - Community Business Ini tiative program for Huron County. “Strategic planning,” Mr. Geddes said, “is not crystal ball gazing. It's where we are going and how do we get there.” He told his audience that plans generally fall into three categories - five per cent of business people who have a written business plan; the greater number who have a business plan in their heads, and the “four o'clock in the morning planners.” For the business owner, a strate gic plan works like a blueprint. It works to define and guide, to focus and plan for business. It is applica ble to all businesses, large and small, and specifically examines product, marketing, competition, management, goals and future development. Using a simple step-by-step pro cess, all business owners can devel op their own strategic plans. Mr. Geddes suggested that the first step is in analyzing the business, its strengths, weaknesses, opportuni ties and threats. It's putting your business under the microscope and taking an objective look at the operation, he noted. Such an analysis looks at the product, customer perception of the business, internal organization ;and management, financing, research and development. The process is certain to reveal problem areas, and records of achievement as well. Mr. Geddes stressed that business own ers must carry out this exercise if they are to maintain a successful, operation in the 1990s, and the future. “Don't ignore your problems. Don't bury yourself in your work when the bank is calling, the sup plier's calling,” he warned. Many banks are requesting writ ten strategic plans from businesses before they approve loans. These strategic plans assist the banks in guaranteeing their loans. “You shouldn't grow or change your business without a blueprint. Your strategic plan is your blueprint for business,” Mr. Geddes urged. Once a business has gone through the analysis process, it is ready to set a mission statement - a brief, written description of what the business does, how it operates and who it serves. This written mandate helps businesses make a positive statement about who they are and what they are accomplish ing. It also advertises business strengths and helps determine • future goals. Mr. Geddes suggested that a mis sion statement should be no more than 100 words long. It may take five or six drafts to finalize, and in the final analysis, he noted, “It's got to feel good. It's got to sit right. It's not something you want to change every six months.” A well defined plan works to help the business owner develop specific strategies. The owner can now readily identify products and services, determine areas of growth, areas where service can be maintained, methodically thinned out, or cut. The popular A & W fast food chain has gone through this proce dure in recent years. The large, drive-in restaurants have been slowly phased out over the past two decades after A & W determined it could reap larger revenues from land sales. A & W then re-defined its product and service, and has re established its fast food outlet busi ness in malls and food courts, and sells root beer on a large scale to grocery and convenience store mar kets. Planning, focusing, analyzing, changing - it's all part of the strate gic game plan, and successful busi ness management. The business owner must look at specific aspects of planning in the effort to compete and succeed. Can he offer the lowest prices in town? Does quality servicing, warranties or product make his business unique? Can he focus on one prod uct, or one market, successfully? “You pick your niche and you go Continued on page 23 Bell's ’W DISCOUNT CENTRE \ . * ' I ■ QUEEN & DRUMMOND ST., BLYTH YOUR ONE-STOP FAMILY SAVINGS CENTRE ALLAN’S FRUIT TINGLES JUMBO 101 BAG OR 101 PACK SUCKERS SALE 1.89 < HALLOWEEN > SUPER BUYS MARS, SNICKERS OR THREE MUSKETEERS SMALL FRY POTATO CHIPS A GREAT FAMILY SNACK A GREAT FAMILY SIZE ASSORTED FLAVOURS 180 GRAM BAG SALE 84 ALLAN'S HALLOWEEN KISSES ,0 MINI BARS 260 GRAM BAG . /// L REG. 2.79 // / Il I U sale umi Ji r je 350 GRAMS REG. 1.49 sale1 .09 YOUR CHOICE CARAMELS 400 G. BAG OR RAISINS d OQ 198 G. BAGl lOU V OLYMPIC YARN 200 GRAM BALL REG.4.29 SALE 3.99 3 PIECE TOWEL SETS ASSORTED COLOURS REG. 9.99 7.77 MEN'S DRESS SOCKS 2 STYLES TOP QUALITY ASSORTED COLOURS save1 .39 A PAIR JOGGING PANTS WITH LEG CRESTING ASSORTED COLOURS boys' 8,77 men's 9.77 MEN'S BLUE JEANS ASSORTED STYLES REG. 32.99 SALE 24.99 PEPSI COLA, DIET PEPSI, 7-UP, OR DIET 7-UP 2 LITRE BOTTLE 1.77 QUALITY BATH TOWELS STANDARD SIZE SALE 4.44 QUEEN SIZE- - - SALE 7.44 TAPERED CANDLES 12" ASSORTED COLOURS REG. 33c 5 FOR 1.00 PANASONIC HEAVY DUTY BATTERIES YOUR CHOICE 4AA, 2 D'S , 2 C’S, OR 19 V. SALE 1 .88 PLASTIC HANGERS ASSORTED COLOURS REG. 25c 5 for 1.00 MAKEUP KIT 12 ASSORTED COLOURS EYE SHADOWS REG. 2.59 SALE 1 .49 SEAFOAM SPONGES 6 PACK OR 3 PACK SCRUBBING SPONGES REG. 1.99 SALE 1 .44 WENDY FASHION DOLL 11" HIGH SALE 1.49 ENVELOPES 4X6 LETTER SIZE 4 1/2 X 9 LEGAL 25 PACK SALE .99 SHOE POLISH KIT BLACK ONLY REG. 2.59 SALE 1.99 MS. WATSON S GIRLS VESTS SIZES 4-6X 8-14 2.29 2.49 ORIENTAL STYLE NOODLES IN A BAG SALE 4 FOR 1 .00 CRUSH TETRA PACK DRINKING BOXES CONTAINS REAL JUICE 3 X 250 ML. SALE .99 Bell's & DISCOUNT CENTRE F OPEN 7 DAYS A WEEK REGULAR HOURS: MON. - FRI. 8:30 A.M. -10 P.M. SAT. & SUN. 9:00 A.M. -10 P.M. ALL ADVERTISED ITEMS ON SALE OCT. 23RD TO NOV. 3RD •We accept all gov't cheques Including baby bonus •No Rainchecks this event •We reserve the right to limit quantities •PERSONAL CHEQUES WITH I.D (FOR AMOUNT OF PURCHASE ONLY)