THE ROLE OF STRATEGIC PLANNING FOR SMALL AND MEDIUM-SIZED BUSINESSES

Abstract

For the successful functioning of any company, no matter whether it belongs to small or medium-sized businesses or is a representative of a large business, it is necessary to have a development strategy. As a rule, a business strategy is long-term in nature and its implementation period is at least one to three years. In this regard, stakeholders, represented by the owners and top managers of the company, need to regularly monitor and timely detect adverse events that could hinder the implementation of the business strategy and the achievement of strategic goals. A business strategy allows you to set priorities, rationally combine and save available resources, and effectively achieve your goals. This is especially important at the first stage of strategic planning of "business today". The article evaluates the importance and necessity of implementing strategic planning in enterprises belonging to small and medium-sized businesses in order to increase competitiveness and achieve sustainable growth in the face of uncertainty and risk. The main stages of strategic planning are analyzed, including the development of strategic goals and missions, analysis of the external and internal environment, consumers and competitors. Special attention is paid to methods that can be adapted for SMEs in the context of economic transformation.