Long-Range Planning and Goal Setting

Long-range goals

Long-range goals may include expanded operations, new facilities in different cities, or franchising. Producing a consistent product or service and maintaining quality control over a wide range of operations is a process that requires smart planning and development. Every business is faced with numerous choices as to what products and/or services they will offer in the future. These decisions must be made taking into the availability of resources, management, labor and money. Timing is often important and new technologies can change the opportunity rapidly. Wait too long and the window of opportunity will close. Move without adequate resources and you will crash and burn. The right decision at the right time is critically important. The reader of your business plan will not see all of these possible scenarios, but instead must have confidence that the management of the business will make savvy decisions.

Some organizations groom assistant managers to take over a new operation when the company expands. Other businesses prefer to hire competent managers from other operations.

Franchising is a viable option for some. Franchising allows a company to expand without the burden of raising money for additional buildings and equipment.