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Strategic management is a core management function for today's organizations. I think the course is very beneficial to managers, owing to the increased complexities organizations face. The content allows us to examine and analyze real business situations and develop solutions to gain a competitive advantage. It also directs our focus into the future, and how we develop strategies as a result of changes in the market. I think we will be in a position to contribute to success of our actual or prospective businesses through knowledge gained from this course.
I will kick off by collaborating with my teammates to ensure we understand what is required and collectively come up with a way forward for the Group Project. I will start by conducting preliminary research of the market to come up with a business plan for ToolsCorp Cooperation. I'll define the internal and external environment and analyze the business holistically within the given market. This will demonstrate that I've done my homework and carefully considerate what I'm proposing. I will then draft my paper containing the relevant points gathered from my research. I'll proof read the final copy to ensure it's coherence and edit grammatical errors. Writing this business plan is an important stage in the planning process because "proper planning prevents poor performance."

References

Business Plan: Writing Plans with Free Sample Template & Software, Business Planning, Business Planner, Business Plan Software, Business Plan Template, Sample Business Plan. (2016). Retrieved from http://www.planware.org/businessplan.htm

Business Management, Management Studies

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