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Strategic business planning: a growth/survival multiplier

Looking back, 2008 was a year to remember or, better yet, to forget.

Pw 5529 Assess Growth Piechart

You would have to be holed up in a gulag in Siberia not to see and be concerned with the state of the economy and its impact throughout the supply chain, from consumers through manufacturers and raw-material suppliers.

Challenges came from every corner of the economy, from the stock market, to the banking and auto industry bailouts, to investment schemes uncovered, to the prospects of retail store closings and higher unemployment.

In my last column, I alluded to the importance of a manufacturing strategy and how that drives what you do, both in the long term and the short term. Given these very difficult economic times, a manufacturing strategy is especially important now. The column made the following five points:

1. Provide manufacturing capabilities not available internally

2. Enhance innovation capability for new product development

3. Control product and capital costs

4. Provide manufacturing capability in developing markets

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