Rethinking the Business Plan Paradigm: Bridging the Gap Between Plan and Plan Execution*
A new business planning paradigm is inherent in the "total quality management'' school of thought. This new approach has several advantages. Principal among them is that it helps bridge the gap between plan creation and plan execution. Most business planning resources for small business have not yet recognized the new business planning paradigm. This paper compares the traditional business plan paradigm to the new. /1 describes three shortcomings of the traditional approach and five strengths of the new approach. !1 explains how the strengths of the new approach can be used to overcome the shortcomings of the traditional approach and yield stronger business plans. Simple examples illustrate how to create and execute business plans using New-Paradigm business planning.
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