Chapter 3 set out a step-by-step approach by which owners/managers can develop strategies for their business, recognising that very often business strategies are an extension of personal objectives. The intention was also to establish a sense of direction for the business, to give the owners/managers a perspective over a reasonable period of time which can serve as a guideline within which the day-to-day operations of the business must fit. Such a strategy can also provide the basis for distinguishing between those tasks which must be given attention because they have a real impact on the future, and those which can take second place because they have little impact. In this chapter we argue that the continuous development and review of the business’s products/goods or services falls into the category of being ‘strategically important’.
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