Unit 3
HO 3-3
(continued)
desires
of the owner
or manager.
There is, however,
some relationship
between
the stage of
development
that
the business
is in and the most
appropriate
posture to take.
In developing
a strategic plan
and selecting
appropriate strategic
postures, it
is importanit for
the
small business
to clearly
recognize
its present stage
of development.
Then the
owner or
manager
is ready to assess
future growth
potential and
growth-related
objectives. Realistically,
one
should not expect
a detailed
or specific response.
Rather,
a broad indication
of the extent
of growth
commitment is
likely.
Remember that
growth potential
is a function
of environmental
factors, internal
strengths
and
weaknesses,
and owner
or manager
attitudes toward
growth. After
carefully
examining these
considerations,
the business
may wish
to proceed with
or reevaluate
its growth projections.
We now
turn our attention
to the development
of goals
and objectives.
In particular,
we will
focus
on the types
of goals and
the dynamics
of the goal segmentation
process.
The key
functional areas
to be covered
are the marketing
strategy,
the human resource
or personnel
strategy,
the production
strategy, and the
financial strategy.
DISCUSSION
QUESTIONS
- Why
is the mission
statement so
important for small
firms?
- Is it necessary
to have
a written mission
statement?
Why or why
not?
- Is it
easy to identify
a company's manageme-nt
philosophy?
Can
an argument be
made
that significant
information
about a firm's
philosophy
can be determined
by a thirty
minute interview
with a key
manager?
4.
Relate appropriate
strategic
postures to the
discussion of stages
of business
development?
- Which strategic
posture might
be most appropriate
for the
following businesses?
a. A new computer
chip manufacturer
b. A
real estate firm
dealing with
commercial property
c. An older
grocery store
located in a
growing community
d. A
business that is
seeing sales decline
steadily
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