This essay focuses on problems and growth patterns. distinctive capabilities of your selected business that have driven effective business

problems and growth patterns

(a) Provide a summary overview of the nature and form of strategic development path of the selected business. (b) Identify the key internal and external factors, which have assisted or constrained the development of your selected business. (c) Please make explicit the “distinctive capabilities of your selected business that have driven effective business growth to date. Categorizing the problems and growth patterns of small businesses in a systematic way that is useful to entrepreneurs seems at first glance a hopeless task. Small businesses vary widely in size and capacity for growth. They are characterized by independence of action, differing organizational structures, and varied management styles..

Strategy development is the process of researching and identifying strategic options, selecting the most promising and deciding how resources will be allocate across the organisation to achieve objectives. Key questions to be consider include: the key questions an organisation needs to ask in connection with its future, including;

• firstly, What business are we in? Or what business should we be in? (Mission)
• secondly, Where do we want to be? (Vision)
• Thirdly, How are we doing? What is going well? What is not so successful?
• Further, How did we get to this point? What went well? What went wrong?
• further, How can we improve our position?
• Lastly, What options are open to us?
• lastly, What might hinder us from getting there?
• Finally, What do we need to do to get there?
• finally, What should we not do?