As with any company or business a strategic plan is always being used and updated throughout the life of the business. Keeping in mind the strategic goals that the company or business is trying to achieve. In writing a business plan shows if the business plan is viable enough to keep the business afloat or put in place. Sometimes when you think and write out a business plan you find that it is not a feasible business to start up but by using some strategic planning there may be another way to do things. By implementing a SWOT analysis the owners of the business are able to see whether their business is meeting the changes within the environment, and looking at the opportunities or threats that may surround their business. This also allows the business owner to see the capabilities of the business which in turn will bring strengths that allow the business to grow and maintain their business. This will allow them to focus on the areas that may be weak for the business to increase the strength of those areas by upgrading the strategic plans for those specific areas. Every business has to keep their strategic plan updated to keep up with the changes in technology, and customer’s interests.
Tammy Hopkinson, MBA College Life 1 Minute
Published by Tammy Hopkinson, MBA
I love to write, spend time with the family, and work for the things that I have. It has not always been an easy road but it never is. The more challenging it is the more she loves life. Her goal is to achieve her dreams of having her own business one day. I hope that you enjoy the articles that I write. Some of them are personal experiences that I hope enlighten others. Happy reading! Enjoying life to the fullest. :) View all posts by Tammy Hopkinson, MBA