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 charge, proposalning and explain why a strategic plan is in-chief(postnominal) to the victor 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 free rein along?s vision and allows a conjunction to be ready to capitalize on opportunities. Strategic management is a process of evaluating a friendship?s mission, establishing the company?s design, developing the company?s organization and relationships, and guiding the company?s plan to execution to en for certain that the management is agreeable with the company?s strategy. Strategic management in any case 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 companys 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 all-important(a) because it means growth from small to a thriving unconnected 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) focus on gathering data around the internal and external environment of their company. He or she must also consider outside socio-cultural factors and inside factors, including management formulate 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 regularise - specific, measurable, attainable, realistic, and time-bound. By following this rule, it makes goals attainable. By being the owner, I pay back the yeah or nay whe n it comes to decisions. However, in order ! to... If you fate to get a full essay, order it on our website: BestEssayCheap.com

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