1960s WORK
0188 PST ( Philips Scott & Turner) Planning
I learned the principles of strategic planning at PST. It did everything – by the book - that was ever recommended, for example, in terms of brand planning. Thus, once a year, we were required to produce two documents for each brand. The first was the brand strategy which said what the strategy was -- in some detail. On the other hand, this contained no background. That was provided in the brand facts book, the contents of which were collected over the year – and which was backed up by the extensive files of market research evidence we held. The second document was the brand plan, which described how the brand strategy was to be implemented over the following year.
This was exactly as the Harvard Business School would have recommended; but was not the practice followed in most other companies.
It was a rigorous exercise. Most rigorous of all, we were allowed only one (quarto) piece of paper, albeit on both sides, for each document. The result of this was that we, or at least our secretaries, had typewriters with the smallest typeface ever. But I believe it was a very productive exercise, cutting out all extraneous distractions.
As far as possible the contents, the brand plan in particular, were quantified. Indeed the final 'bottom-line' was the net profit. We also looked at how this was built up, through various levels of contribution. Indeed, PST was the company with the best planning I ever worked for. I learned more from that than I ever did from any MBA material.
One thing that did amuse me, though, was that the American headquarters announced that the board was retiring to the country to discuss the 'great leap forward' which was their long-range planning exercise. What was so amusing was that this was taking place in the country in up-state New York; but at the company’s nuclear fallout shelter!
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