An in-depth study of how a well developed and executed plan can contribute to the success of small businesses.
Written in 2007; 3,232 words; 7 sources; MLA; $ 93.95
Paper Summary:
This paper maintains that small businesses need to have a strategy. The paper demonstrates how a firm with proactive policies, managed by an entrepreneurial or quasi entrepreneurial owner-manager or manager will be more likely to succeed. The paper describes how managing small entrepreneurial concerns is a risky business; according to government statistics, about 400,000 small businesses fail each year. The paper illustrates how a firm with no strategic plan, managed by a 'caretaker' and 'reactive' manager will face a higher chance of failure.
Outline:
Abstract
Introduction
What is Strategy?
Strategic Perspective
Problem Statement
Comparison of Strategic Perspectives for Small Business
Strategy of Choice for Small Businesses
Conclusions
From the Paper:
"The strategy planning of a business may be viewed from various perspectives. The strength of a business in a particular area gives it substantial advantage over other business. However, many of the advantages may be short lived as the competitors can also try to acquire these advantages. A proper well thought out strategy may not make a business famous for its well known technology or brands of products but it can certainly give the business the required profitability to operate as a viable business."
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