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Strategic planning for increased profit in the small business |
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| Authors: | John D Aram Scott S Cowen |
| Institution: | John D. Aramis Professor of Management Policy at Weatherhead School of Management, Case Western Reserve University, Cleveland, Ohio, USA Scott S. Cowen is Professor of Accountancy Weatherhead School of Management, Case Western Reserve University, Cleveland, Ohio, USA |
| Abstract: | This article examines the problems facing the owner-managers of small businesses, and details the investment required in strategic process development which would guarantee the critical 5 per cent difference to ensure the successful growth and adaptability of the company. Formal strategic planning needs to blend with team development to create the concept of ‘strategy-in-use’ and the development of effective management teamwork out of a planning process. |
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