The role of strategic planning in good entrepreneurship development

Managing and growing business has not been an easy task for structured and established organizations, let alone for young entrepreneurs. Many young businesses die within their first three years, while those that survived three years may not be there to celebrate their five years of age. One of the most prevalent problems responsible for early extinction of these businesses is lack of adequate planning, by the entrepreneurs or managers. For survival and proper development of a business organization, there should be good strategic planning from the onset. Therefore, this book focuses on the role of strategic planning in good entrepreneurship development. It stresses the need of environmental scanning for entrepreneurs; this involves organizational history and structure including the external environment, national and local situational trends. Other discussions are opportunities and threats that entail the organization scope of activities, operating models, management of organizational values, vision and mission, goals, objectives, planned accomplishments, priorities and strategies. This book is useful for upcoming entrepreneurs, business owners and managers, students and researchers.