Purchase Solution

Strategic management and planning

Not what you're looking for?

Ask Custom Question

Select a small business that you may want to start. 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.

I need some assistance on this assignment. I want to start a small coffee/tea business. Please provide references if you use any.

Purchase this Solution
Solution Summary

Strategic management and planning for a new small business; 4 functions

Solution Preview

For the purpose of this assignment, I will select a small coffee/tea retailing business which will provide best tea and coffee beverages sourced from all over the world, along with packed tea and coffee in an environment friendly environment. The USP of our business will be that all tea and coffee sold in our retail, along with beverages, will be sourced from finest and premium tea plantations across the world and we will adhere to best practices in environment protection in our sourcing and procurement activities.

Let us first start with definition of strategic management and planning. 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 Organizations). Strategic planning is only useful if it supports strategic thinking and leads to strategic management - the basis for an effective organization. Strategic thinking means asking, "Are we doing the right thing?" Perhaps, more precisely, it means making that assessment using three key requirements about strategic thinking: a ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
Recent Feedback
  • "Thank you. "
  • "Thank you"
  • "Thank you. I got 20/20 last week for my discussion you help me out with."
  • "Thank you. Great Job. "
  • "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Lean your Process

This quiz will help you understand the basic concepts of Lean.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

View More Free Quizzes
Related BrainMass Solutions

  • Pitfalls in Strategic Planning

    This solution discusses at least three pitfalls in the strategic planning process that management must watch out for and avoid due to the consequences that they have on the strategic planning process.

  • Strategic planning & management in business environments

    249022 Importance of Strategic Planning and Management in the Business Environment Paper: Importance of Strategic Planning and Management in the Business Environment Paper. Define strategic management and planning.

  • Key data regarding Strategic Management

    223992 Key data regarding Strategic Management I need help to start preparing a 700-word paper on a small party planning business. Define strategic management and planning of the party planning business.

  • Strategic Management vs Health Policy Planning

    320885 Strategic Management differs from health policy planning. Each method will be described and analyzed. Strategic management is organization specific and has a specific plan for the organization.

  • How is strategic planning different from strategic implementation?

    Project Management - Key to Strategy Implementation http://www.mce-ama.com/management-issues/7/home/Project-Management The solution discusses the difference between strategic planning and implementation.

  • Crisis Management Planning Vs. Strategic Planning

    521618 Crisis Management Planning Vs. Strategic Planning Question: What is an example of an organization that successfully used strategic planning to manage a crisis. How is strategic planning different from crisis management planning?

  • What is Resource Management?

    "Strategic planning is alive and well. The 2014 Bridgespan Group Nonprofit Management and Trends Report showed that 89 percent of nearly 500 nonprofit leader survey respondents used strategic planning.

  • Four functions of management in creating a strategic plan

    This is referred to as strategic planning. Organizing Getting organized is the second function of management during the strategic planning process.

  • Strategic Planning and Management in the Business Environment

    Importance of Strategic Planning and Management in the Business Environment Strategic planning and management are very important in the business environment.

  • Critical Thinking Strategy

    320252 "According to Bryson's (2005) Strategic Planning in Public and Nonprofit Organizations. Strategic planning is only useful if it supports strategic thinking and leads to strategic management the basis for an effective organization.

View More Related Solutions