A Global Review on a Business Planning Process: Case of a Small Business

Abstract

Modern business organizations have continued to increase in not only size but also in complexity of operations. This has resulted to the need for strategic dimensional growth According to Cole (1994), “Strategic management is a process, directed by top management, to determine the fundamental aims or goals of the organization, and to ensure a range of decisions which will allow for the achievement of those aims or goals in the long term, while providing for adaptive responses in the short term.” We must go back to the "roots" of management thinking about management as an integrated activity with its many components or functions to evaluate how strategic management has developed.