The Importance of Strategic Planning in the Business Environment

Essay from the year 2009 in the subject Business economics - Operations Research, grade: 100.00, University of Phoenix, course: BUS 475 Integrated Business Topics, language: English, abstract: Importance of Strategic Planning and Management in the Business Environment The business that the author wants to start is a green eco-friendly organization that designs and builds water turbine induction systems for power creation and water desalination for the costal United States. However, starting a business is a challenge. Without proper procedures and guidelines, a new business owner cannot identify and maintain a game plan to success. Creating a rough outline or game plan by the issuing of a mission statement is part of the strategic management process. To coincide with a mission statement, a vision statement is created that describes what the organization wants to become. This paper will review how important these factors are as well as the four concepts of business: planning, leading, controlling, and organization are to the creating and implementation of a strategic business plan.