ENT 527 Wk 2 Discussion 1

Students need to contribute four substantive posts in this discussion by the due date indicated. The substantive posts can be any combination of responses and replies.

We have identified a potential business opportunity so now we have to determine if it is an opportunity or not, by starting the strategic management process to build our Strategic Plan. The strategic plan is part of an overall business plan, along with a marketing plan, financial plan and operational/management plan and answers these basic questions:

A clear detailed description of what the organization will look like;

Where an organization is going in time;

A plan how it is going to get there;

How it will monitor if it got there or not.

In addition, it provides the framework for the future use the company resources’ which includes the what, when, where, why, who and how (5W’s &H) of its competitors and market place.

So we need to research and analyze the potential environment that we are going to operate in,  so what information/data and tools do you need and why?