The strategic management process differs for small businesses and entrepreneurial ventures when compared to larger organizations because
A) small businesses and entrepreneurial ventures have inexperienced managers.
B) small businesses and entrepreneurial ventures have limited resources.
C) small businesses and entrepreneurial ventures have smaller organizational objectives.
D) small businesses and entrepreneurial ventures have low growth potential.
E) small businesses and entrepreneurial ventures have more exposure to lobbying groups.

Question

Quizplus · Accepted Answer

Small businesses and entrepreneurial ventures often have limited resources, including financial and human capital, which affects the way they approach the strategic management process. As a result, their strategies may be more focused on survival and growth, rather than long-term planning and investment, and they may need to be more agile and responsive to changing market conditions. Larger organizations, on the other hand, typically have more resources and can afford to take a longer-term view when developing and implementing strategic plans.

The Strategic Management Process Differs for Small Businesses and Entrepreneurial