Workshop demonstrates strategic planning for the family business

Workshop demonstrates strategic planning for the family business Does your family business have a strategic plan? Is it in one of those dusty notebooks on your desk or do you put it to work?

If your family business does not have a strategic plan or you have one, but it is not working, take the steps to put it in to action now.

Family Business Strategic Planning, an interactive workshop hosted by South Dakota Family Business Initiative and RSM McGladrey, will show you the steps in effective strategic planning for your family business.

The workshop agenda includes: Introduction to strategy; the difference between vision, mission, goals and strategy; competitive strategy is about being different; goals of strategic planning; strategic planning framework; facts versus judgments.; what is the competition doing?; why are we great?; five iron laws of strategy; the difference between innovation and diversification; doing things differently; competitive strategy examples; what strategy is not; six sigma controversy; how much time do you spend on thinking about the future?; the six things to do with success; structure follows strategy; and where to begin.

Peter Hegg, Chairman � Hegg Companies, Sioux Falls, states "Our company family members attended a workshop through the Family Business Initiative and sponsored by RSM McGladrey a few years ago and it made a positive difference in the way we do business."

Family Business Strategic Planning will be held Nov. 18, at the SBDC Offices, 1000 N. West Ave. #230, downtown Sioux Falls. This workshop is free to SD-FBI members, $25/each for non-members.

Pre-registration is required by Nov. 7 and may be done by phone to 605-677-3157 or e-mail sd-fbi@usd.edu.

SD-FBI was founded in 1993 with a mission to build relationships that promote healthy families and successful businesses through education, research and peer interaction. It assists family firms in balancing the unique challenges of blending family and business.

Together with its corporate sponsors, the SD-FBI offers an annual conference, the Distinguished Lecturer Series, the Legacies of Family Enterprise Series, and local workshops on a variety of topics. Books, video/audio tapes and articles are also available to check out from the SD-FBI resource library. More information is available on the Web site at www.usd.edu/fambus.

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