AN APPROACH ON STRATEGIC PLANNING AS A MANAGEMENT TOOL FOR MICROENTERPRISES AND SMALL-SIZED COMPANIES

Abstract

Strategic planning is an essential tool for all businesses as it provides better control of activities. This aids companies in remaining competitive, both in the short and long term. Within this context, this work seeks to answer the following question: how can strategic planning contribute as a management aid to foster the growth of organizations classified as Micro and Small-sized? Thus, the objective was to demonstrate the importance of strategic planning in small-sized enterprises, both for their market sustainability and personal growth. This was based on literature reviews and previous research, utilizing a qualitative approach.The results also revealed that many companies still do not fully grasp the importance and benefits of effective strategic planning, which is a concern. This tool offers not only the ability to stay in the market but also various other benefits, including profit optimization, a goal shared by all businesses, regardless of the sector. In conclusion, this work paves the way for more comprehensive and effective approaches in strategic planning. This opens up opportunities for future research that could focus on on-site case studies, exploring the use, implementation, and outcomes of strategic planning in small businesses, as mentioned in the presented work..