Strategic Plan For Small Business
The small business I would like to start would be a candy store. This paper will define strategic management, planning and explain why a strategic plan is important to the success of this business, and explain the four functions of management relative to creating and implementing a strategic plan.
Strategic Management is the groundwork for a company 's vision and allows a company to be ready to capitalize on opportunities. Strategic management is a process of evaluating a company 's mission, establishing the company 's design, developing the company 's organization and relationships, and guiding the company 's plan to execution to ensure that the management is consistent with the company 's strategy. Strategic management also enhances or protects …show more content…
What can a business offer to attract employees, how can they acquire the financing they need, or what are the proper materials needed to get the project off the ground? These are but a few of the questions that need to be answered during the organizing phase. All the resources need to be organized so they can be used to the companies highest potential. If a company has strong financial backing but fails to offer incentives to retain their employees will fail in the end. The employees are who keep a company running. It is such a waste to spend the time and money to train an employee, then turn around, and offer nothing else but a pay check. Employee benefits and regular training are a few beginning incentives to keep employees interested in staying with your company. If the employees are not happy they will eventually go somewhere else and the company will have to spend more money to hire and train more employees to replace the ones that …show more content…
Helping coworkers to achieve the goals and programs of the company through two-way communication can help employees feel like their contributions have meaning and will be considered. Management that leads the employees to contribute will have a better chance of success than a company that "tells" and expects the employees to blindly "follow." The employees see the daily function of the organization. Many times he or she sees what does and does not work before management does. Management needs to take this information and use it to lead the company.
ControllingEven with planning, organizing, and leading, you still need to exert some control to keep things on track. Managers need to know what it going on in the organization and be able to make changes when needed. A manager can also exert too much control over a situation by not helping the employees to think and work through a problem that may have arisen. A company that encourages its people to think is a company that will be able to succeed in the long
Strategic Management is the groundwork for a company 's vision and allows a company to be ready to capitalize on opportunities. Strategic management is a process of evaluating a company 's mission, establishing the company 's design, developing the company 's organization and relationships, and guiding the company 's plan to execution to ensure that the management is consistent with the company 's strategy. Strategic management also enhances or protects …show more content…
What can a business offer to attract employees, how can they acquire the financing they need, or what are the proper materials needed to get the project off the ground? These are but a few of the questions that need to be answered during the organizing phase. All the resources need to be organized so they can be used to the companies highest potential. If a company has strong financial backing but fails to offer incentives to retain their employees will fail in the end. The employees are who keep a company running. It is such a waste to spend the time and money to train an employee, then turn around, and offer nothing else but a pay check. Employee benefits and regular training are a few beginning incentives to keep employees interested in staying with your company. If the employees are not happy they will eventually go somewhere else and the company will have to spend more money to hire and train more employees to replace the ones that …show more content…
Helping coworkers to achieve the goals and programs of the company through two-way communication can help employees feel like their contributions have meaning and will be considered. Management that leads the employees to contribute will have a better chance of success than a company that "tells" and expects the employees to blindly "follow." The employees see the daily function of the organization. Many times he or she sees what does and does not work before management does. Management needs to take this information and use it to lead the company.
ControllingEven with planning, organizing, and leading, you still need to exert some control to keep things on track. Managers need to know what it going on in the organization and be able to make changes when needed. A manager can also exert too much control over a situation by not helping the employees to think and work through a problem that may have arisen. A company that encourages its people to think is a company that will be able to succeed in the long