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What is the correct way to create a term store for taxonomy planning for a medium size company?

Is it import from excel file or creation through website?

Again this is for a medium size company?

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I would use excel (use Wictors Excel Sheet: http://www.wictorwilen.se/Post/Create-SharePoint-2010-Managed-Metadata-with-Excel-2010.aspx) or Powershell.

With that approach you can implement the taxonomy on Dev/Prod - with the same values.

With Powershell you can even have the same Term Ids.

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Thanks Paul. I guess for planning of a large size organization term store will be common for the organization not for individual departments. If we use excel file in that case how to ensure that there is no duplication happens. How the organizations are really maintaining terms in single excel file? At what schedule organizations are updating terms in the application? –  user17251 Jun 16 '13 at 3:34
    
Can you please elaborate on Powershell approach? –  user17251 Jun 16 '13 at 3:35
    
Sure, see this blog post: sharepointtales.wordpress.com/2010/05/06/… <br/> Read the comments, there is a fix in it and the blog author did not update it. –  Max Melcher Jun 17 '13 at 7:28
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