Strategic planning for small and medium-sized enterprises: The COMPASS project

The paper introduces a methodology and a set of software tools designed to support the definition and implementation of enterprise strategies particularly for small and medium-sized enterprises SMEs . The COMPASS method and tools support a stepwise refinement of basic strategic options and a simulation-based evaluation taking into account the objectives the SME has given itself. They assist in the derivation of detailed project plans, and they help monitoring the success of the chosen strategy. Inexperienced users can taken advantage of the built-in knowledge and experience in the field of strategic planning which reflects the actual state of the art in economic science. The paper describes the method and tools which were developed in the ESPRIT project 6617 COMPASS, and discusses their strong and weak points in the light of experience gained during test applications in three SMEs.