About This Course:....ix
How to Take This Course:....xi

1 The Nature of Planning Systems:....1

Why Plan?
Planning: A Perspective
Elements of a Strategic Plan
Why Plan Strategically?
    The Benefits of Planning
    Limitations of Planning
Planning's Hierarchical Nature
Planning Horizons
Strategic Planning's Special Problems
    Misconceptions
    Elitism
    Threat to Entrepreneurialism
    Resistance to Change
    Scheduling
    Timing
    Organizational Adjustments
Information
Summary
Review Questions

2 Tools for Strategic Planning:....17

Introduction
Basic Financial Analysis
    Financial Statements
    Ratio Analysis
    DuPont Analysis
    Shareholder Value
    Break-even Analysis
Business Planning Tools
    Forecasts
    Pro Forma Financial Statements
    Capital Budgeting
Strategic Planning Tools
    Risk Analysis
    Macroeconomic Factors
Marketing
    Market Share Analysis
Marketing Risks
Summary
Review Questions

3 Information and Planning:....47

Planning Is Information Intensive
    The Nature of Information
    The Limits of Information
Sources of Information
    Regularly Published Materials
    Individual Reports
    Industry Associations
    Studies
    Summary of Printed Materials
    Electronic Data Bases
    Importance of External Sources
Situation Analysis
    Uncontrollable Environmental Issues
    Market Analysis
    Competition
    Key Success Factors
Strategic Analysis
    The Experience Curve
    The U-Curve Phenomenon
    Common Mistakes in External Assessment
Competitive Strategy
Internal Assessment
    Internal Audits and Special Studies
    Performance Audits
Management Information Systems
    General Knowledge
    Building the Data Bank
    Information Cost Control
Summary
Review Questions

4 Business Unit Planning:....69

Establishing a Business Unit Mission
Value Maximization
Strategy
    Total Quality Management
    Time-based Competition
Relating Strategy to Value
    Forecast Future Cash Flows
    Determine the Cost of Capital (Discount Rate)
    Compute the Value
Summary
Review Questions

5 Developing the Business Plan:....87

Introduction
The Planning Process
Formalizing the Plan
    Introductory Material
    The Position Statement
    Governing Assumptions
    The Objectives Statement
    Strategies
    Action Programs
    Financial Forecasts
    Controls
    Contingency Plan
    Appendix
Writing the Plan
Organizing the Planning Effort
    Designing a Planning System
    Are Specialists Necessary?
    The Planning Department
    Involving Managers in Planning
    Planning Committees
    The Role of the CFO
Summary
Review Questions

6 Corporate Planning:....111

Introduction
The Corporate Mission
Corporate Objectives
Corporate Strategies
    The Corporate Portfolio
    Shareholder Value
Action Programs and Financial Forecasts
Global Portfolios
    Foreign Exchange Risk
    Political Risk
    Limits on Profits Repatriated to the United States
    Cultural Differences
    Access to Foreign Markets
    Reduced Costs
    Increased Diversification
Corporate Growth
    Internal Growth
    External Growth
Summary
Review Questions

7 Implementing the Strategic Plan:....131

Implementation Elements
    Organizational Structure
    Culture
    Administrative Systems
    Resources
    Timetables
Review and Reassessment
Pitfalls and Mistakes to Avoid
Summary
Review Questions

Bibliography:....141
Post-test:....143
Case Study:....151
Case Study Solution:....161
Selected Readings:....179
Index:....209

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