Developing a strategy is far more effective than leaving the future to chance. Rewards of a Good Plan §“Buy-in” at all organizational levels §High degrees of employee motivation §Commitment to performance objectives §Smooth ownership transitions Clearly defined succession strategy	Components of Strategic Thinking and Business Planning: üVision Statement üValues and Principles üMission Statement üOrganizational Goals üImplementation Plan üExternal Assessment üInternal Appraisal
An Organized Approach Knowing you should be planning is not enough—a formal  approach is critical. The Strategic Planning Process includes a step-by-step approach to Converting vision into action Identifying long-term goals Establishing attainable action steps Giving employees clear direction Plan for future leadership changes	The Results are Measurable! §Increased Market Share §Maximized Return on Intellectual Capital §Strengthened Focus on Customer Service §Increased Shareholder Earnings