Strategic Management in Entrepreneurship

Strategic management in entrepreneurship involves planning and executing actions that help a business achieve its long-term goals. It requires analyzing the market, understanding customers’ needs, and assessing competition to create effective strategies. Entrepreneurs must allocate resources wisely, adapt to changes, and make informed decisions to drive growth. In essence, it’s about setting a vision for the business and developing a roadmap to reach that vision, ensuring that all efforts align with the overall mission and goals of the entrepreneurial venture.