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| Tekijä: | Toftoy, C.N. Chatterjee, J. |
| Otsikko: | Mission statements and the small business |
| Lehti: | Business Strategy Review
2004 : AUTUMN, VOL. 15:3, p. 41-44 |
| Asiasana: | management strategic planning mission statements organizational effectiveness small business entrepreneurship USA |
| Vapaa asiasana: | best practices |
| Kieli: | eng |
| Tiivistelmä: | Many small businesses operate without a clearly defined strategic plan and a concise, meaningful etc. mission statement (here as: m-stmt). It is argued that the aforementioned fact needs to be changed should the rate of business failure get reduced. The m-stmt. answers the question: What business is it in and what is its reason for being? The lack of a well-written m-stmt. is hypothesized as one of the foremost contributors to business failures. Based on a survey of small business in Washington D.C.,U.S., it is found that an uninterested approach towards business planning has resulted in bad failures for many entrepreneurs. Unless mistakes are addressed, many firms will simply vanish. |
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