The strategic Management and the Entrepreneurship | The Odyssey Online
Start writing a post
Health and Wellness

The strategic Management and the Entrepreneurship

Rojer Wood

14
The strategic Management and the Entrepreneurship

When we talk about the business plan and business plan presentation let me tell you that there is full aspect of it.

The first aspect when the presenter comes and about the business. basically the executive summary of the business in nutshell the presented Ellis's that what is the great business idea right what is going to be the startup cost who are the people behind this idea who are going to be the primary investors so on and so forth .Second aspect of the business plan and business plan presentation is this pathetic aspect of business which we are going to cover in the second topic.

The third aspect is the marketing aspect of the business which we'll be covering in later on in the topics and finally the students conclude their business plan and business plan presentation with the financial aspect of the business.

So let's talk about the strategic aspect of the business in your business plan which is going to be the routine document and in your business plan presentation you will be talking about the strategic aspect of the business. Well needless to mention the term strategy has a military origin you will never would like to fight a war when your enemy wants to when they are at their best of the resources but you know it is said that everything is fair in war and business.

I have just manipulated the statement so as you know the modern day business is like a war so in one day business unless you are strategically prepared for the business the chances of success will always be rounded so in this particular chapter when I say strategic aspect of the business then we are going to talk about the strategy in greater detail before I forget. let me tell you that in your MBA program you will be doing a capstone course called strategic management in that you will be studying about the strategy in greater detail, but I will be restricting most of my discussion in this second sector so it is going to be in nutshell it is going to be brief but let me assure you that it is going to cover the all finer points of strategic management. Remember that a proper strategic management is very crucial to build a successful business. Our strategic management involves developing a game plan to guide the company as it strives to accomplish its mission, its vision, its goals, objectives and to keep it on the desired course.

The strategic planning is really important and the study of 500 small companies suggests that one of the most significant factors in distinguishing growing companies from those in decline is use of a written business plan which incorporates this fantastic aspect of business and secondly I mean the study suggests that only 12% of the small companies had a long term plan in writing so they did not have proper strategic planning or strategic management in place.

By having strategic management process in place, you will be using or you will be identifying your core competencies core competencies are nothing but your USP or something but your competitors do not have so your unique set of capabilities which accompany develops in key areas such as superior quality customer service innovation team building flexibility responsiveness and others that allow it to world past competitors there.

What a country does best and best on to rely on the natural advantage often linked to a company's smallness.

I am going to explain you the strategic management process. There are basically nine steps in that and then just to explain it further. There are total nine steps in statistic management program ,the first step in the strategic management process is in developing a vision and translate it into a mission statement when I say our vision statement remember .Vision statement is normally of one Rider the best vision statement which I came across is of an American eye hospital which just says that our vision is to take care of your vision that one of the best vision statement I came across well I just take an example of Amazon I guess all of you are aware of this company which is one leader in online retailing anything you want you can order online and Amazon would be supplying it to you well.

Vision Vs Mission

The vision and the mission statement of your companies or the vision and mission statement of various existing companies and will find that some of the vision and the mission statements are very badly prepared , so in this let me just tell you that if you are incorporating the vision and the mission statement of your business .Make sure that you do it right so remember vision statement is just one line and it should tell what you are planning to do or what is the primary business of yours whereas the mission statement is a pretty long statement which must contain nine components and the nine components are customers product or services markets technology concern for survival profitability and growth sixth component is philosophy of business seventh component is self-concept eight is concerned for public image and the ninth component is concerned for employees remember .

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Featured

15 Mind-Bending Riddles

Hopefully they will make you laugh.

196195
 Ilistrated image of the planet and images of questions
StableDiffusion

I've been super busy lately with school work, studying, etc. Besides the fact that I do nothing but AP chemistry and AP economics, I constantly think of stupid questions that are almost impossible to answer. So, maybe you could answer them for me, and if not then we can both wonder what the answers to these 15 questions could be.

Keep Reading...Show less
Entertainment

Most Epic Aurora Borealis Photos: October 2024

As if May wasn't enough, a truly spectacular Northern Lights show lit up the sky on Oct. 10, 2024

18442
stunning aurora borealis display over a forest of trees and lake
StableDiffusion

From sea to shining sea, the United States was uniquely positioned for an incredible Aurora Borealis display on Thursday, Oct. 10, 2024, going into Friday, Oct. 11.

It was the second time this year after an historic geomagnetic storm in May 2024. Those Northern Lights were visible in Europe and North America, just like this latest rendition.

Keep Reading...Show less
 silhouette of a woman on the beach at sunrise
StableDiffusion

Content warning: This article contains descriptions of suicide/suicidal thoughts.

When you are feeling down, please know that there are many reasons to keep living.

Keep Reading...Show less
Relationships

Power of Love Letters

I don't think I say it enough...

460547
Illistrated image of a letter with 2 red hearts
StableDiffusion

To My Loving Boyfriend,

  • Thank you for all that you do for me
  • Thank you for working through disagreements with me
  • Thank you for always supporting me
  • I appreciate you more than words can express
  • You have helped me grow and become a better person
  • I can't wait to see where life takes us next
  • I promise to cherish every moment with you
  • Thank you for being my best friend and confidante
  • I love you and everything you do

To start off, here's something I don't say nearly enough: thank you. Thank you, thank you, thank you from the bottom of my heart. You do so much for me that I can't even put into words how much I appreciate everything you do - and have done - for me over the course of our relationship so far. While every couple has their fair share of tiffs and disagreements, thank you for getting through all of them with me and making us a better couple at the other end. With any argument, we don't just throw in the towel and say we're done, but we work towards a solution that puts us in a greater place each day. Thank you for always working with me and never giving up on us.

Keep Reading...Show less
Lifestyle

11 Signs You Grew Up In Hauppauge, NY

Because no one ever really leaves.

28138
Map of Hauppauge, New York
Google

Ah, yes, good old Hauppauge. We are that town in the dead center of Long Island that barely anyone knows how to pronounce unless they're from the town itself or live in a nearby area. Hauppauge is home to people of all kinds. We always have new families joining the community but honestly, the majority of the town is filled with people who never leave (high school alumni) and elders who have raised their kids here. Around the town, there are some just some landmarks and places that only the people of Hauppauge will ever understand the importance or even the annoyance of.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments