The deficiency in all of the other planning approaches discussed in Chapter 8 "Strategic Planning and Ten–Ten Planning" is they take too much time and, yet, they are not comprehensive enough because they do not include and build on other approaches. One deficiency of the Horan approach is that it does not integrate the key ideas found in the major planning approaches. This is an alternative approach to Horan’s approach developing a brief plan. (These templates can be downloaded from ) The idea behind the Ten–Ten approach is that once you have gathered some background data related to the industry and the organization, you should be able to complete the two templates in about 20 minutes.See Horan (2007). The Ten–Ten planning process contains two templates: an Organizational and Industry Analysis template and the Business Plan Overview template that identifies the mantra, mission, money, goals, objectives, and tactics in a very brief format. The mantra and mission are constantly evaluated and revisited throughout the life of the firm. As discussed in the last chapter, the strategic planning process can be modeled using the diagram in Figure 9.1 "Strategic Planning Process". A continuous process for developing business plans is necessary for competing and surviving under monopolistic competition. The dynamic tension between delivering Midas and Hermes versions will also lead to mainstream Atlas products. The second mantra of the entrepreneur is: strive to reduce costs, and this is accomplished by focusing on Hermes versions of products using frugal engineering and design. The first mantra of the entrepreneur is: differentiate through innovation or perish, and this is accomplished by focusing on Midas versions of products using extravagant engineering. There is no single plan that can deal with the complexity of monopolistic competition. \)Īs noted in the last chapter, the planning process is never-ending because of the ongoing pressure in the marketplace.
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