Strategic Plan and Management

Why would a strategic plan be important to the success of a business? What are the differences between a strategic plan and a business plan?

ques- 2

Select a small business that you may want to start. 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 relative to creating and implementing a strategic plan?

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Question -1

A Strategic Plan is important to a business success since it is the design or a blueprint of a business. It is different from a business plan, since a strategic plan involves outlining the steps or strategies that the business will use to meet its objectives. A strategic plan is important since it acts as a management tool that serves the purpose of helping a business does a better job for its future, for example, in competition, product introduction, or in consumer marketing. On the other hand, a business plan is different from a strategic plan, since it is a planning tool for new businesses or projects, and for entrepreneurs…………..

APA

299 Words