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Chain-Restaurant Strategic Planning

A survey of 37 U.S. restaurant chains found that the respondents' strategic plans covered an average of 3.5 years and that virtually all plans were developed by teams. Most plans included such items as a mission statement, measurable goals, a statement of specific strategies, and an identification of critical issues and assumptions. Survey respondents stated that the benefits of strategic planning included focusing top management's attention on long-term issues, setting management priorities, and giving the management team more control over the company's future. In the end, the most effective plans are those that address the most important issues in a direct manner.