The Impact of Strategic Planning in Small Business
The Impact of Strategic Planning in Small Business

Author: Sara Howe

Publisher:

Published: 2022

Total Pages: 0

ISBN-13:

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This qualitative research study explored the impact of strategic planning in small businesses within the service industry, specifically in East Tennessee. The focus was to gauge the level of importance small businesses placed on strategic planning, if any. The general problem to be addressed was the level of importance small businesses place on strategic planning that could affect organizational problems such as high turnover, low job satisfaction, poor engagement and performance, financial uncertainty, customer dissatisfaction, tarnished company reputation, and company closure. The purpose of this qualitative case study was to enhance the body of knowledge through magnifying the explanations behind organizational and operational issues in the service industry and the impact strategic planning could offer. Three research questions were designed to investigate further. The study consisted of one ten question interview that was strategically designed and given to 23 small businesses to provide their own unique experiences. Six themes emerged after organizing and analyzing the data. Themes included participants asking for more information or examples of specific interview questions, participants having a sudden realization of the use of strategic planning within their business or changing their perspective on the use of strategic planning terminology, placing a high importance on strategic planning, and referencing covid as a challenging in planning. In completing the final analysis, it was noted that the strategic planning and strategic management body of knowledge is evolving and mutating rapidly, especially after the pandemic in 2020 affected small businesses. The findings pointed to a need for more research involving the innovations and adaptations small businesses used to navigate organizational problems post pandemic, and ways small business owners could use strategy in planning for events that are uncertain or unexpected.

Introduction to Business
Introduction to Business

Author: Lawrence J. Gitman

Publisher:

Published: 2018

Total Pages: 732

ISBN-13: 9781947172555

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Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.

Strategic Planning
Strategic Planning

Author: Gary L. May

Publisher: Business Expert Press

Published: 2010-04-01

Total Pages: 88

ISBN-13: 1606490877

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Strategy is about creating a plan to differentiate your business from the competition and to gain a competitive advantage. This book is about the fundamentals of strategic planning for the small business owner and his or her leadership team. Strategic planning is an essential process for every size business. While large businesses may have more resources and time to devote to strategic planning, small businesses have the advantage of being close to their stakeholders and the ability to move quickly.

Strategic Planning for the Small Business
Strategic Planning for the Small Business

Author: Craig S. Rice

Publisher: Adams Media Corporation

Published: 1990

Total Pages: 280

ISBN-13: 9781558508583

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Tells how to evaluate current position, identify opportunities, threats, and objectives, select tactics, develop a marketing plan, conduct testing, perform financial analysis, and obtain financial backing.

The Strategy of Small Firms
The Strategy of Small Firms

Author: Tim Mazzarol

Publisher: Edward Elgar Publishing

Published: 2009

Total Pages: 400

ISBN-13:

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The majority of businesses throughout the world are small firms and they play a crucial role in the economic growth of the world's economies. The authors offer a conceptual framework supported by their own original case study data to explain how and why a small firm should approach strategic planning.

Strategic Planning For Dummies
Strategic Planning For Dummies

Author: Erica Olsen

Publisher: John Wiley & Sons

Published: 2011-03-03

Total Pages: 389

ISBN-13: 1118050568

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If you’re starting a new business or planning your business’s future, there are plenty of things you should take into account. Strategic Planning For Dummies covers everything you need to know to develop a plan for building and maintaining a competitive advantage — no matter what business you’re in. Written by Erica Olsen, founder and President of a business development firm that helps entrepreneurial-minded businesses plan for a successful future, this handy guide covers all the basics, including: How a strategic plan is different than a business plan Establishing a step-based planning process Planning for and encouraging growth Taking a long-view of your organization Evaluating past performance Defining and refining your mission, values, and vision Sizing up your current situation Examining your industry landscape Setting your strategic priorities Planning for unknown contingencies If you’re in business, you have to plan for everything — especially if you intend your business to grow. Whether you’re planning for a small business, large conglomerate, nonprofit, or even a government agency, this book has the planning specifics you need for your organization. Step-by-step, you’ll learn how to lay the foundations for a plan, understand how your plan will affect your business, form planning teams, discover what your strengths are, see where you are, and, finally, plan where you’re going. And there’s much more: Learn to analyze business trends that will determine your business’s future Set measurable, realistic goals that you can plan for and achieve Make strategic planning a habitual part of the organization Prioritize multiple strategies that you can implement simultaneously Set a defining vision for the organization that guides all your planning and strategy This friendly, simple guide puts the power of strategic planning in the palm of your hand. For small businesses that can’t afford to hire strategic planning consultants, it’s even more imperative. Careful, constant planning is the only way to handle an uncertain business future. With this book, you’ll have all the step-by-step guidance you need to ensure you’re ready for anything that comes.