Question

he strategic management process: 1. is especially difficult for the small business because of its limited resources. 2. divides mass markets into smaller, less homogeneous units. 3. provides the small business owner with the tools for managing the uncontrollable elements in the external business environment. 4. helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives.

Answer 1

Answer:

4. helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives.

Explanation:

Strategic management is the process by which a business continuously plans, monitors, analyses, and asseses organisational activities with the aim of meeting it's goals and objectives.

The business environment is constantly changing and this calls for continous changing of business strategy to ensure survival.

Strategic management process involves five stages:

- Clarify business vision

- Gather and analyse information

- Formulate a strategy

- Implement strategy

- Evaluate results and control outcomes