| We
Deliver Distribution News to Your Inbox Sign up to receive MDM Update, your free weekly distribution news update by email. Enter your email address below: |
On its face, this sentiment seems logical. After all, with the rollercoaster ride that many companies have been on since the beginning of the recession, rapidly changing tactics have become normal. The article says companies such as Office Depot and J.C. Penney Co. are considering abandoning their plans altogether.
But if you dig a little deeper, there's an inherent flaw in this method of thinking. Readers of the WSJ picked up on this quickly, adding comments to the article such as: "Good businesses don't change strategies every month; they change tactics to execute a strategy."
The key to successful strategic planning in the current economy is the same as it has been all along: Create your plan and your goals, but review them often to make sure that your approach to attaining those goals is effective. Last July, MDM Editor Lindsay Konzak wrote that a strategic plan may be exactly the tool your company needs to make those tough decisions for the short term. Adaptation to rapidly changing circumstances doesn't have to nullify your strategic plan.
How has your strategic planning been impacted by the recession?
Read more about strategic planning for distributors in this MDM article on the topic.
Join MDM's Independent Distributor Network
Follow MDM on Twitter
Think About It: |
Market Data for Dozens |
Benchmark
Your |
Distribution Trends
|
Economy
|
Management/Strategy
|
Interviews
|
Operations
|
Technology
|
Mergers/Acquisitions
|
Case Studies
|
Sales & Marketing
|
| Title | Company | Location |
|---|---|---|
| Chief Executive Officer | Search Firm | East Coast U.S. |
| View ALL Wholesale Distribution Job Listings | Post Your Job Listing | |
March 10, 2010
* Case
Study: Grainger's E-Commerce Evolution* Sidebar: Grainger's Timeline * Why United Stationers Bought a Software Company * NBMDA: Visibility Improves * Industrial Inflation Index
|
![]()
Be a part
of this exclusive list! Nominations are open for the
2010 MDM Market Leaders report, a directory of the
top distribution companies by size and sector.
Deadline for nominations is March 15. Act now!

Source: Stanley Works and Black & Decker
Comments
Leave a Comment
Strategies don't last forever. As Warren Buffett once said: "If you find yourself in a hole, stop digging."