Importance of Strategic Planning and Management in the Business Environment Explain why a strategic plan would be important to the success of this business. Explain the four functions of management.

The small business I would like to start would be a candy store. This paper will define strategical forethought, proposalning and explain why a strategic plan is in-chief(postnominal) to the mastery of this business, and explain the four functions of management sexual intercourse to creating and implementing a strategic plan. Strategic Management is the groundwork for a swordplay along?s vision and allows a party to be ready to capitalize on opportunities. Strategic management is a process of evaluating a companionship?s mission, establishing the company?s design, developing the company?s organization and relationships, and guiding the company?s plan to execution to en authoritative that the management is agreeable with the company?s strategy. Strategic management as well as enhances or protects the company?s interests and defines the way a company takes to aggrandise or focus. Strategic management if often overlook and should be the first step in defining a comp anys outcome values, mission, and product focus (Fazzini, 2008). Strategic planning is so burning(prenominal) to the success of my business. Its size is what makes strategic planning so central because it means growth from small to a thriving alien corporation. This is basically a growth plan. Meaning where wells it be 3 historic period from now or 5 years or 7 years from now. First he or she must(prenominal)(prenominal) focus on gathering data intimately the internal and external environment of their company.

He or she must also consider outside socio-cultural factors and inside factors, including management e xcogitate and workforce (Strategic Planning,! 2007). One of the most important factors is having goals for your company. Make sure your goals are attainable and reasonable; follow the SMART set up - specific, measurable, attainable, realistic, and time-bound. By following this rule, it makes goals attainable. By being the owner, I nettle the yeah or nay when it comes to decisions. However, in order to... If you requisite to get a full essay, order it on our website: OrderCustomPaper.com

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