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Strategic Planning and Management

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Internet Cafe Business. Define strategic management and planning. Explain why a strategic plan would be important to the success of this business. Explain the four functions of management relative to creating and implementing a strategic plan.

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Define strategic management and planning. Explain why a strategic plan would be important to the success of this business.

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Strategic management, in layman terms, can be defined as set of all those plans and activities that is necessary to position the firm a way that will assure its long-term survival in a competitive business environment. A strategy is an organization's way of saying how it creates unique value and thus attracts the custom that is its lifeblood.

Strategic planning is a management tool, period. As with any management tool, it is used for one purpose only: to help an organization do a better job - to focus its energy, to ensure that members of the organization are working toward the same goals, to assess and adjust the organization's direction in response to a changing environment. In short, strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future. (Adapted from Bryson's Strategic Planning in Public and Nonprofit ...

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