Hybrid model of strategic planning for decision making in family businesses

Abstract

This article consists of a proposal that allows promoting the implementation of strategic planning as a tool that supports decision-making in family businesses. This considers a set of elements derived from a hybrid strategic planning model designed by the authors of this document. This was done once a content analysis on strategic planning models for family businesses had been carried out; The proposed model is based on family philosophy and the stages of the strategic planning process, which are: philosophical stage, analytical stage, operational stage and control stage. The first stage, which is the philosophical one, is made up of the following topics: corporate mission, corporate vision, and corporate values. While the second stage, which is analytics, is composed of: both internal and external analysis of the company and the strategies. Then the third stage, which is the operative one, considers: the strategic objectives, policies, plans, programs, procedures and budgets. Finally, the fourth stage considers the strategy map and the control board as a tool.