Graphic Media Alliance

A regional printing association recently conducted a survey and asked what the association could do to help its members. One member responded, “strategic planning.” Compared to leaders of large businesses, small business leaders typically don’t have staff to whom they can delegate responsibilities. Therefore, strategic planning is a challenge for small business leaders, who have full plates with tasks such as selling, operations, human resources, and others. The dynamic nature of the printing industry makes strategic planning even more difficult… and even more important. However, that dynamic environment may mean that strategic planning provides an even more sustainable competitive advantage. As Michael Porter said, “The underlying principles of strategy are enduring, regardless of technology or the pace of change.” Our goal here is to arm printing company leaders with an effective approach to meaningful planning.

In “Printing Industry Performance & Insights” studies, we’ve found clear and consistent relationships between our Comprehensive Strategic Approach (CSA) and firm performance. Printing firms that apply this CSA tend to outperform those that do not. Adding validity to our findings, we have published multiple academic research papers confirming the positive relationship between CSA and firm financial performance. Therefore, we can conclusively say that effective planning is a key performance driver. 

What is this “Comprehensive Strategic Approach?” It consists of three distinctive components: strategic planning, goal setting, and financial analysis. To help printing company leaders refine their planning approach, we looked at these three components both individually and collectively. We further sought to understand how items in the three CSA elements are interrelated and work together. As strategy professors, we also applied other strategic planning concepts from our courses. We see four steps to an effective planning approach. First, take a step back and see the big picture (external analysis). Second, take an objective look at your firm (internal analysis). Third, develop a good game plan, and finally, put the game plan into action. Of course, once the process is completed, it must start all over again because good planning can never stop. 

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