About This Chapter
Strategic Planning for Small Businesses - Chapter Summary
The lessons in this chapter outline the purpose and components of strategic management in business. Through short and informative lessons, you'll examine the four main types of business planning, outline the entire strategic management process and understand why planning is a key function of business management. You'll also take a look at relevant topics, including sales strategies, crisis management, management by objective and management by exception.
Following each lesson is a short self-assessment quiz to help you reinforce what you've learned. You can study whenever and wherever it's convenient and reach out to our instructors if you have any questions. These lessons are designed to help you:
- Define the process of strategic management
- Explain strategic, tactical, operational and contingency planning
- Determine the ways in which planning helps organizations achieve their goals
- Summarize operational planning
- Outline the purpose and process of management by objective
- Assess the advantages and disadvantages of management by exception
- Understand how companies plan and implement sales strategies
- Identify the elements of crisis planning and management
1. The Strategic Management Process
We will be reviewing the strategic management process, starting with the four main steps of the process. These steps provide the foundation for understanding strategic management as a whole and will serve you well as you deal with management decision-making situations.
2. Types of Planning: Strategic, Tactical, Operational & Contingency Planning
This lesson will explain the four types of planning used by managers, including strategic, tactical, operational and contingency planning. Terms, such as single-use plans, continuing plans, policy, procedure and rule, will also be defined.
3. Planning as a Function of Management
In this lesson, you will learn the role of planning as a function of management. Discover the advantages of and barriers to planning, and how it is used to achieve organizational goals.
4. Sales Strategy: Definition, Elements & Implementation
Understanding sales strategy and implementing effective plans can help a company sell more of its product and target the appropriate customer. This lesson explains the logic in establishing a sales strategy.
5. Crisis Planning & Management in Business: Definition & Elements
Companies should be educated about crisis planning and management in business. In order to avert or repair any crises, there are numerous crisis planning elements that need to be in place in order to prevent a corporate downfall.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Intro to Business: Help and Review course
- The Dynamic Business Environment: Help and Review
- Business Morality & Code of Conduct: Help and Review
- Economics and Business: Help and Review
- Business in Global Markets: Help and Review
- Forms of Business Ownership: Help and Review
- Entrepreneurship and Small Business: Help and Review
- Managing and Leading in Business: Help and Review
- Leadership Styles in Business: Help and Review
- Organizational Management: Help and Review
- Project Management Basics: Help and Review
- Business Production and Operations: Help and Review
- Workplace Productivity & Motivation: Help and Review
- Basics of Human Resources: Help and Review
- Managing the Employer-Worker Relationship: Help and Review
- Business Marketing Basics: Help and Review
- Product Development and Retailing: Help and Review
- Product Distribution & Supply Chain Management: Help and Review
- Pricing Strategy in Marketing: Help and Review
- Product Promotion in Business: Help and Review
- MIS Basics in Business: Help and Review
- Implications of Information Technology: Help and Review
- Risk Management in Business: Help and Review
- Accounting Basics: Help and Review
- Financial Management in Business: Help and Review
- Securities Markets and Business: Help and Review
- Lean in Business
- Money and Financial Institutions: Help and Review
- Small Business Analysis Models
- Small Business Entrepreneurship
- Ethical Behavior & Social Responsibility in Small Business
- Product Pricing for Small Business