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Hundreds of everyday actions affect the performance of your business, whether you are negotiating a sale, recruiting a new employee or complaining to a supplier. Much of the working day is spent reacting to circumstances, making small decisions that have a limited, short-term impact.
Few people are in a position to sit back and watch the profits roll in. Creating and increasing profitability depends on doing a hundred little things better than the competition.
Every management team should know which direction it is taking the business in and how it is going to get there. This is the purpose of the business plan.
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Strategy (ST)