Very few companies operate with clearly identified strategies for reaching long‐term goals, yet strategic thinking and planning offer businesses abundant opportunities for success. They serve as a road map for navigating in today's competitive and rapidly changing business environment. They help people act before problems crop up and offer the best hope for companies that want to make the maximum use of their time, money, and personnel resources. Carefully conceived strategies help position companies to outperform the competition, understand prospect and customer needs, provide quality products and services, improve morale, and develop personnel. Yet far too many companies seem to stumble along without well‐defined action plans for the future.