Did you tune in to our Food Engineering webinar today? We discussed why strategic plans are important to your facility’s growth, and what information makes them effective.
No matter the current state of your strategic plan, knowing which information should be included can help your food company create a viable plan for the future. Below you can check out our strategic planning SlideShare that includes helpful information you need to develop a well-rounded plan.
But, why should your facility invest the time and resources to flesh a strategic plan out in the first place? Here are six key benefits of developing a strategic plan. It:
1. Provides your business with a clearly defined mission and vision—Developing a strategic plan requires a company and its leaders examine, or in some cases, establish a corporate mission and vision. Every operational, sales and marketing aspect of the business will support this mission and vision.
2. Offers an objective view of your business—Embarking on the strategic planning process forces your organization and its leaders to take a clear, objective look at organizational structure, processes and future growth plans.
3. Manages costs—Your strategic plan should address future growth objectives, which will aid in space planning and maximizing the use of available square footage. All of these factors contribute to more effective cost management and budget planning.
4. Equips your business with competitive advantages—A company with clearly defined goals and a production optimization plan will be more successful in meeting its business objectives and obtaining market share.
5. Offers your business adaptability—Food processors are adding product lines, incorporating more packaging options, adjusting ingredients and expanding product mix, all of which affect people and processes. A strategic plan accounts for operational changes and adjustments and determines appropriate courses of action.
6. Improves communication—A strategic plan that effectively conveys corporate goals can lead to improved communication and cohesiveness among employees. All personnel will have a clear understanding of the company’s direction and their role, which can lead to a more motivated and stable workforce.
If you’d like to access the PDF version of the strategic plan SlideShare, download our e-book: The Strategic Planning Guide for Food Processors.