Management

Write a 300-word response to the following question(s)/prompt(s), include at least one APA-formatted citation/reference to a source from this lesson.

Focusing on strategic management, discuss how small businesses can effectively implement strategic processes in the workplace. How can a small business gain a competitive advantage over their competitors by applying strategic planning? Give some examples of potential advantages.

Reference
Nine Steps to Effective Strategic Planning from Melcrums Practitioner Guide to Strategic Planning for Internal Communication (2012). Learn the importance of strategic best practices and nine steps in the strategic planning process (pp. 48-50).