I need around 800 to 1000 words for the following:
Problem: Select a small business that you may want to start. Define strategic management and planning. Explain why a strategic plan would be important to the success of this business. Explain the four functions of management relative to creating and implementing a strategic plan.
Whatever business I select, it will be the basis for future assignments such as defining the business, differentiating the business, defining the mission statement and vision statement, SWOTT analysis, etc
I also need your guidance selecting a business idea to use. I have come up with two (below) but am open to another suggestion.
Business 1: Car wash/detail service that comes to where the person works. It would cater to busy executives who value their time. The business could also establish contracts with delivery companies such as Coke, Pepsi, Frito Lay, etc to clean thier vehicles while employees attend to other business.
Business 2: An upscale lingerie shop which would also sell condoms, lotions, vibrators, etc in an atmosphere designed to make women comfortable. The target clientele would be women. This could potentially be part of a day spa to get women ready for an important intimate evening. Not sure if this is too broad and or inappropriate for a class.
I value your input with selecting an appropriate business. Your help is always fantastic and helps lead me to more ideas to expand my writings.