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Businesses and their strategic management and planning

1) Select a small business* (the SB) that you may want to start. In the context of that enterprise, what is strategic management and planning?
Why would a strategic plan be important to the success of this business? How are the four functions of management relevant to creating and implementing a strategic plan"?

2) Consider some of the major business news from the past few weeks or months, and comment on whether you feel that a particular company's public actions are consistent with its strategic plan or mission statement.

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1) I plan to start a small business instructing individuals in the art and science of kickboxing. In the context of this enterprise, strategic management would entail eliminating as much financial overhead as possible so that this business can be run in a very efficient and effective manner. In addition, strategic management and planning in the context of this enterprise would entail analyzing the market environment situation in order to ascertain the best time and method by which to start this business, developing a detailed goal for the business, developing a method by which to execute the startup and operation of this business, ascertaining what resources will be needed for the successful start and ...

Solution Summary

The solution discusses what is strategic management and planning when starting a new small business.