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Strategic Management And Planning

Final Paper

Kelly Cortina

University of Phoenix

BUS/475

Lesley King

November 2, 2008

Cafe Ole started out as a dream of a quaint, quiet (yet not to quiet), atmosphere, where all people, regardless of gender, race or religion would feel welcome and at home. Having a vison, mission, values, strategies, and goals made that dream a reality.

Strategic management and planning
Strategic planning will determine the course of this new business. A strategy provides a framework for managerial decisions, reflecting a company’s awareness of how, when and where it should compete; against whom it should compete; and for what purposes it should compete. (Pearce, Robinson 2004) As an owner of a new Internet Cafe (Cafè Olè) the first thng that needs to be accomplished is to identify Cafè Olè's purpose, which is accomplished with a mission statement. A mission statement will describe the purpose of the company, what services will be provided, the companies philosophy, and goals.(Pearce, Robinson 2004) The mission statement is a living statement and may need to be changed to meet the needs of changing times. Once the mission statement has been formulated goals to be reached to accomplish the mission must be selected. Specific strategies and approaches must be implemented to reach each goal. Cafè Olè's internal and external environment need to be assessed, and specific action plans to implement each strategy need to be identified. Once the plan is implemented it will need to be monitored and updated as needed. According to Pearce and Robinson 2004, a company should select long-term objectives and grand strategies that will achieve the most desirable options. Strategic management involves the planning, directing, organizing and controlling of a company's strategy-related decisions and actions. (Pearce, Robinson 2004)

The importance of a strategic plan and the four functions of management

In order for Cafè Olè's to succeed as a business it has to be well...