Small business owners mistakenly believe that the size of their business negates the need for strategic planning but the opposite is actually true. Its inherent size is actually what makes strategic planning more important because it can be means for a small business to gradually evolve into a huge and thriving multinational corporation.
What Small Business Owners Need to Know about Strategic Planning
Planning is one of the five important functions of management, but its arguably the most important of all because its the first function that any manager or business owners should focus on. Planning sets the goals, mission-vision, and direction for the company. Without it, the other functions may be impossible to achieve.
A business cant, however, benefit from just any kind of planning. It must be strategic in essence to be effective. Strategic planning is a methodical process of deciding where you want your company to be in a given time frame and what you propose to do to get there.
There are different ways to let your company benefit from strategic planning so dont worry about following the so-called rules. Whatever works for your company is good...
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