Small Business Strategic Plan

Laid off employees, college graduates, and mid-career individuals are starting small businesses of their own. The strategic-management process is just as vital for small start-ups as it is for larger organizations. From their inception, all organizations have a strategy, even if the strategy just evolves from day-to-day operations. Even if conducted informally or by a single owner/entrepreneur, the strategic-management process can significantly enhance small organizations’ growth and profitability. Because an ever-increasing number of individuals in the United States are starting their own businesses, more individuals are becoming strategists. Instructions: For this assignment, create and apply a strategic plan to a small business. First, choose a small business or idea for a small business. This business could be one you are considering starting or the business of someone you know. Then write a 1,500-word minimum strategic plan for this business. Describe the products, services, internal environment, external environment, competitors, regulatory framework, etc. Describe the strategic management process and strategy that will aid in making this business successful. Be specific with details on your reasoning and use examples.









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