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Working with our clients.
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Do you need immediate help with an accounting or tax questions? Are you considering
making a financial gift and want to know the impact it may have on your estate? Just call
a professional at Carneiro, Chumney & Co. Over 80 years of service tells you that we are
client focused and responsive! We don’t just tell you that we offer excellent client service,
we do it every day.
If you want the level of service that the rest of our clients have received for the last 80
years - contact us.
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Strategic Planning and how it will help your business
Most business owners know or have a reasonable understanding of what steps they need
to take to achieve their long-term business goals. However, as we all do, you get lost
in the day-to-day “fires” inherent in any business and quickly lose sight of the goals. At
Carneiro we have a very defined approach to Strategic Planning.
1. Strategic Analysis
This activity can include conducting a scan, or review, of your environment (for example,
the political, social, economic and technical aspects). We strive to carefully consider
various driving forces in the environment, for example, increasing competition, changing
demographics, etc. We also look at the various strengths, weaknesses, opportunities and
threats around your organization.
2. Setting Strategic Direction
Our planners carefully come to conclusions about what your organization must do as a
result of the major issues and opportunities facing your organization. These conclusions
include what overall accomplishments (or strategic goals) your organization should
achieve, and the overall methods (or strategies) to achieve them. The goals are designed
and worded as much as possible to be specific, measurable, acceptable, realistic, timely,
extending the capabilities of those working to achieve the goals, and rewarding to them, as
well. (An acronym for these criteria is “SMARTER”.)
At some point in the strategic planning process (sometimes in the activity of setting the
strategic direction), our planners usually identify or update what might be called the
strategic “philosophy”. This includes identifying or updating the organization’s mission,
vision and/or values statements.
New businesses (for-profit or nonprofit) often work with a state agency to formally register
their new business, for example, as a corporation, association, etc. This registration
usually includes declaring a mission statement in their charter (or constitution, articles of
incorporation, etc.).
3. Action Planning
The most important component of the strategic planning process are the action plans
which layout exactly what steps are necessary to achieve the goals and the monitoring,
which gives us, your objective advisers, the opportunity to keep you on-track with your
goals.
Action planning is carefully laying out how the strategic goals will be accomplished. Action
planning often includes specifying objectives, or specific results, with each strategic goal.
Often, each objective is associated with a tactic, which is one of the methods needed
to reach an objective. Therefore, implementing a strategy typically involves
implementing a set of tactics along the way -- in that sense, a tactic is still a strategy,
but on a smaller scale.
Action planning also includes specifying responsibilities and timelines with each objective,
or who needs to do what and by when. It should also include methods to monitor and
evaluate the plan, which includes knowing how your organization will know who has done
what and by when.
Contact Bob McAdams if you’d like to discuss how we can help you with strategic planning.
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