A small business selling services to plan weddings is something that is my dream. Having a strategic plan and goals could turn that dream into a reality.
Strategic management and planningStrategic planning will determine the course of this new business. A strategy provides a framework for managerial decisions, reflecting a company's awareness of how, when and where it should compete; against whom it should compete; and for what purposes it should compete. (Pearce, Robinson 2004) As an owner of a wedding planning business the first thing, after choosing a name, that needs to be accomplished is to identify company's purpose. A mission statement will describe the purpose of the company, what services will be provided, the companies philosophy, and goals.(Pearce, Robinson 2004) The mission statement is a living statement and may need to be changed to meet the needs of changing times. Once the mission statement has been formulated goals to be reached to accomplish the mission must be selected.
English: Bellwether Services is a strategic manage...
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Big Blue Fox interviews Uncle Kage and Dave Robins...Specific strategies and approaches must be implemented to reach each goal. The company's internal and external environment needs to be assessed, and specific action plans to implement each strategy need to be identified. Once the plan is implemented it will need to be monitored and updated as needed. According to Pearce and Robinson 2004, a company should select long-term objectives and grand strategies that will achieve the most desirable options. Strategic management involves the planning, directing, organizing and controlling of a company's strategy-related decisions and actions. (Pearce, Robinson 2004)The Importance of a strategic management & planningIn order for the company to succeed as a business it has to be well thought out and planned. In today's business environment a strategic business plan is indispensable due to the high failure rate of small businesses. It has been determine that small businesses...