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Strategic and Planning Management (Bachelor of Business) - Essay Example

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There are intensified challenges which businesses face at the time of starting up the business. No matter in which place, region or market the business starts the challenge is already there in the form…
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Strategic and Planning Management (Bachelor of Business)
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Download file to see previous pages For new businesses, theorists have proposed various strategic business models. These models include analytical models and models for promoting an organizational system. It depends on the mission, nature, and goals of organizations that which of the models are effective and can be best applied. The models that are discussed frequently in the literature are SWOT and PESTLE, which are used for the business environment analysis (Kachru, 2009). Similarly, the literature also highlights extrinsic analytical models such as Porter’s Five Forces model, which identifies the competition, challenges, regulations and patterns of the new market. Keeping all such models in consideration, this study is going to develop an organizational business plan (Kachru, 2009). The models projected are to be applied in the business perspective to bring effective results for organization and its core services. The theme of the organization is a hotel providing hospitality, tourism, and food services. This is to construct a bridge a relationship between marketing principles, models, and effective organizational plan and system.
According to the business literature, when a new business intends to emerge it starts off with deep, critical and intensive planning. Planning is vibrantly important whether it is strategic planning or corporate business planning they are important for a new business (Verardo, 1997). According to David Bangs, business plans have a significant relationship with the starting up of the business (Bangs, 2002). Plans affect starting decisions and decisions bring actions which eventually give foundation to the new business. The same implies to a new hotel business if it wants to get started it has to start with decisive planning stage (Dubrin, 2008, p. 122).
As per the theorists’ perspective the starting planning phase is all ...Download file to see next pagesRead More
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