New practice tools have been added to Chapter 22 (§§ 22:1 et seq.) of Business Transactions Solutions, which discusses the key steps in designing, implementing and administering a formal strategic planning process and preparing the desired outputs of the process including a mission statement, a strategy statement, strategic goals and objectives, tactical and operational plans and an effective business plan. The chapter covers the various phases of the strategic planning process including collecting and analyzing information, strategy development using “situation” analysis, preparation of the mission and strategy statements, establishing strategic goals and objectives, preparation of a strategic plan and implementation and monitoring of the company’s strategic plan. In addition, the chapter provides extensive practical guidance on the development and implementation of a business plan including a description of the purposes and uses of a business plan; the steps in collecting and analyzing information to be used to prepare the business plan (i.e., industry analysis, product and market analysis, competitive analysis, financial planning and analysis, organizational analysis and risk analysis) and a description of the main sections of a typical business plan. Of particular interest and value are the guides relating to various aspects of strategic and business planning from the Business Counselor’s Mini-MBA Program. See more at the Legal Solutions Blog.