A strategic plan with key long-term objectives serves as a framework for making decisions and provides a basis for planning. Putting together a strategic plan can provide the insight needed to keep a ...

Management by objective, or MBO, is a concept postulated by Peter Drucker in his 1954 book, "The Practice of Management." The principle provides a means of focusing all who are involved with a work ...

Spontaneity is fun. But in the profit-driven world of big business, thorough planning just makes more sense. The Small Business Administration says 70% of start-ups are likely to fail within their ...

Opinions expressed by Entrepreneur contributors are their own. In their book Write Your Business Plan, the staff of Entrepreneur Media offer an in-depth understanding of what’s essential to any ...