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Recently released study demonstrates strategic planning helps businesses increase profitability
(Reno, Nevada, December 1, 2006)- According to a new study by M3 Planning, a nationwide leader in on-demand strategic planning services, businesses that use strategic planning are 12 percent more profitable.
The results from the 2006 M3 Planning Strategy Benchmark of 280 firms in the United States found that by just adding strategic planning to a business' activities, organizations can experience an increase in net profit.
Strategic planning is a coordinated and systematic process for developing a plan for the overall direction of the business or organization for the purpose of optimizing future potential. As 2007 approaches, many businesses look to grow their business or organization by assembling a clear game plan for the year ahead. "It's planning season for these organizations, and strategic planning is the way to get ahead," said Erica Olsen, vice-president of M3 Planning.
- Of those firms whose top management had a high commitment to execute strategic planning, 80 percent reported that their sales volume increased during that year.
- Of those firms whose top management had a lower commitment (average or below) to execute strategic planning, 59 percent reported that their sales volume had increased during the year.
For more information or to view full results see the report.
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M3 Planning is a strategic planning firm that works with growth-oriented organizations to develop and execute their strategic plans. A strategic plan identifies opportunities, develops tactics to exploit those opportunities and defines the criteria for achieving success. For additional information visit www.m3planning.com or www.mystrategicplan.com. To schedule an interview, or request a book copy please contact Victor Leyba at (775) 829-2810.