Process to Profits : Strategic Planning for a Growing Business

by Lasher, William R.

• ISBN13: 9780324223873
• ISBN10: 0324223870
• Edition: 1st
• Format: Hardcover
• Copyright: 2005-07-15
• Publisher: Cengage Learning

Summary

Illustrating how to bring order to the chaos of a growing business, Process to Profits applies the principles of strategy to growing businesses with systematic strategic analysis. Extremely practical, the book helps readers think for the long haul. It emphasizes strategy and implementation - and gives specific information on how to follow through. It helps readers create a strategic framework - complete with a realistic mission statement - as well as design and implement their strategies with an effective business plan. It covers all the bases of growing a business - marketing, financing, service, location, diversification - and it also spotlights the unique issues associated with restructuring.

Author Biography

William R. Lasher is Professor of Business Administration at Nichols College.

Table of Contents

Preface	ix
Part I: Strategic Ideas	1	(36)
1. Introduction to Strategic Thinking	1	(14)
The Concept of Business Strategy	1	(2)
The Development of Strategic Thinking	3	(3)
The Strategic Process-Analysis, Planning, Implementation, and Control	6	(1)
Levels of Strategy	6	(4)
Benefits of Strategic Thinking	10	(2)
Who Is Responsible for Strategic Thinking and Planning?	12	(3)
2. Developing Long-Run Thinking	15	(12)
The Conflict Between the Long and Short Run	15	(5)
Long-Run Thinking in Periods of Growth and Contraction	20	(3)
The Importance of Quality	23	(1)
Measuring Success	24	(3)
3. An Overview of the Strategic Process for Small Business	27	(10)
Seven Steps to Effectively Managing Your Business for the Long Haul	27	(6)
Strategic Steps	33	(4)
Part II: Creating a Strategic Framework	37	(82)
4. Developing a Mission and Setting Objectives	37	(18)
Developing a Mission	37	(9)
Setting Objectives	46	(9)
5. Analysis of the Present External Position: The Industrial Environment	55	(24)
Industry Analysis-Overview	56	(7)
Analyzing the Competitive Environment	63	(10)
Assessment of Industry Structure and Important Rivals	73	(3)
Key Success Factors	76	(3)
6. Analysis of the Present Position: Internal to the Firm	79	(16)
Internal Analysis-Overview	79	(10)
Long Run Problems	89	(1)
Overall Competitive Assessment	90	(5)
7. Developing a Strategy	95	(24)
The Nature of the Strategy Making Task	95	(2)
The Concept of Competitive Advantage	97	(1)
Generic Strategies	98	(14)
Related Strategic Issues	112	(4)
Developing a Strategy-Summary	116	(3)
Part III: Strategic Planning and Implementation	119	(46)
8. Implementation and Control	119	(32)
Implementing the Chosen Strategy	119	(1)
Designing the Organizational Structure	120	(8)
Managing Competences	128	(2)
Selecting Key People	130	(1)
Budgeting to Support Strategy	131	(2)
Strategic Support Systems	133	(1)
Incentive Systems	134	(7)
Corporate Culture	141	(3)
Control-Evaluation and Adjustment	144	(7)
9. Strategy and Business Planning	151	(14)
Business Planning	151	(8)
Strategic Planning Documents	159	(6)
Part IV: Strategic Issues for Small Businesses	165	(124)
10. Marketing and Sales: The Strategic Center of Small Business	165	(18)
The Target Market	166	(1)
Marketing Mix	167	(7)
Market Research	174	(4)
Marketing Strategy and Business Planning	178	(2)
Motivating the Sales Force-Commission Plans	180	(3)
11. Legal Forms of Organization and Issues Among Owners	183	(20)
Basic Legal Forms	183	(1)
Proprietorship and Corporate Forms-Basic Differences	184	(6)
Hybrid Forms-S-Type Corporations and LLCs-The Best of Both Worlds?	190	(2)
Partnerships	192	(2)
Special Forms	194	(1)
Issues Between Owners	195	(3)
Strategy for Minimizing the Effect of Disputes Among Owners	198	(5)
12. Business Names and Trademarks	203	(6)
General Legal Requirements for Business Names	204	(1)
Trademarks (Service Marks)	205	(4)
13. Financing Strategies	209	(18)
Basic Principles	210	(5)
Strategic Financial Thinking	215	(12)
14. Break-Even Analysis	227	(10)
Fixed and Variable Costs	228	(3)
Break-Even Calculations	231	(1)
Extending Break-Even to Include Profit and Return on Investment (ROI)	232	(1)
Using Break-Even Strategically-A Retail Location	233	(4)
15. Strategies for Service Businesses	237	(8)
Defining a Service Business	238	(1)
Pricing a Service	239	(6)
16. Location Analysis	245	(6)
The Dimensions of Location	246	(5)
17. Commercial Insurance	251	(10)
Property Insurance	251	(4)
Liability Insurance	255	(6)
18. E-Commerce	261	(16)
E-Commerce and Strategy	262	(3)
Distinguishing Issues in E-Commerce	265	(1)
Business Set Up	266	(1)
Attracting and Servicing Customers	267	(3)
Payment	270	(2)
Security	272	(2)
Order Filling and Returns	274	(3)
19. Diversification	277	(12)
How Diversification Is Accomplished	278	(1)
When and Why Firms Diversify	279	(3)
Types of Diversification	282	(3)
Justifying the Cost of Getting into the New Business	285	(4)
Part V: Restructuring: Strategic Insights from Economic Theory	289	(20)
20. Cost Reduction and Downsizing: Planning to Get Leaner or Smaller	289	(20)
Reducing Spending vs. Downsizing	290	(1)
Supply and Demand Analysis	291	(5)
Cost Curves	296	(2)
The Meaning of Plant Size	298	(4)
Combining Market Changes with Cost Curves	302	(7)
Index	309