Strategic Planning and Management in Essay

Excerpt from Essay :



The second process, organizing, involves the practical application of the planning stage. During this stage, I will need to acquire and organize the resources I need to start my business. I will for example acquire the texts I plan to sell, set up a Web presence from where to do this, and so on. This is also a stage during which business relationships are established, which I will also do via the Internet and email. I can for example find business associates to help fund the enterprise. It is projected that the entire business will be conducted from an online platform.

Directing is the third function. For my situation, this will basically mean that I maintain my business relationships with my partners, and that we establish tasks for each partner according to the goals of the company. Most of the business will be handled by myself, especially initially, so I do not project that this phase will take a large amount of my effort or time.

According to Pakhare, the final function is control. This involves establishing and adhering to performance standards. Once again, this focuses mainly on myself and the partners that I choose to include in the business. The business is only small, so the effort in this stage is also projected to be initially minimal and relatively simple. Quantifying performance, like planning, should form a continuous part of ensuring that the business runs smoothly.

Pakhare emphasizes that all four areas of management should receive constant attention in order to ensure the smooth running and success of the business. This should also be directly related to the specific business environment. My focus points in this regard will therefore be creativity and innovation, as this is what the online environment demands and projects.

The MoreBusiness.com Web site (2007) emphasizes the importance of a business plan and strategy to ensure that the established goals and objectives are met. I have a dream to have a successful online ebook business. In order to make this a reality, I need to establish a number of practical steps for reaching this goal. As such, strategic planning is the most important stage, as it will be the foundation of all other strategies that I follow. In general, I believe that I can make a success of the business by differentiating it from others of its kind by means of innovation and strategic planning.

Bibliography

Cesnovar, Tone. (2006). The impact of strategic management on business outcomes. Journal for East European Management Studies. Database: FindArticles.com. http://findarticles.com/p/articles/mi_qa5451/is_200607/ai_n21398585

MoreBusiness.com (2007). Strategic Management Tasks for the Small Business Owner. Khera Communications. http://www.morebusiness.com/running_your_business/management/Strategic-Management.brc

Pakhare, Jayashree. (2007, Sept. 25). Management Concepts: The Four Functions of Management. Buzzle.com. http://www.buzzle.com/articles/management-concepts-the-four-functions-of-management.html

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Bibliography

Cesnovar, Tone. (2006). The impact of strategic management on business outcomes. Journal for East European Management Studies. Database: FindArticles.com. http://findarticles.com/p/articles/mi_qa5451/is_200607/ai_n21398585

MoreBusiness.com (2007). Strategic Management Tasks for the Small Business Owner. Khera Communications. http://www.morebusiness.com/running_your_business/management/Strategic-Management.brc

Pakhare, Jayashree. (2007, Sept. 25). Management Concepts: The Four Functions of Management. Buzzle.com. http://www.buzzle.com/articles/management-concepts-the-four-functions-of-management.html

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