Strategic Management

Strategic Management and Planning

Strategic Management and Planning

A strategic business plan will help the organization define its mission and vision, giving the organization a sense of purpose and direction. In addition a strategic plan will help the organization asses its strengths and weaknesses, and develop short-term strategies that are compatible with long-term objectives. A strategic plan will balance the use of resources, people, structures, and technologies in order to achieve company goals with the least amount of risk. Four Functions of ManagementPlanning is the first function of the [pic]management process, as without effective planning[pic] one [pic]cannot effectively organize, control or lead[pic] the organization. Planning is used as a tool to help identify potential opportunities and threats as well as to reduce long-term risks. Planning is also used to more effectively establish goals and objectives for long-term success and ensure that the organization use all its resources toward achieving its goals.

The small business that I would like to start would be a daycare center. This would be not only a daycare center, but also a learning daycare center. The daycare center would include certified teachers who will dedicated to teaching students what they need to know to achieve greatness. Before I can start my business a strategic plan must be set in place. This paper is intended to address the four functions of management that I will need as well as the strategic plan that I will use to make my buisness possible.

Planning

The first function of management. Planning is a step that involves an overlay of goals and objectives. My objective is to have my daycare up and running in the next year while a full staff of teachers and a full class of children ages 1 through 4 years old. The size and location of my facility must also be determined as I look for property to build the daycare. Once the planning phase is complete and...