The first step of the strategic planning process for a small business is:
A) performing a SWOT analysis.
B) reviewing and confirming the goals that define the firm.
C) mapping the prospective customers.
D) studying the dynamics and trends of the industry.

Question

Quizplus · Accepted Answer

Before any strategic planning can occur, it is important for the small business to have clear and defined goals. It is necessary to review these goals and confirm that they still align with the vision and mission of the business. Once these goals are confirmed, the planning process can move forward with a clear direction in mind.

The First Step of the Strategic Planning Process for a Small