Meaning ● SMB Strategic Management embodies the processes by which small and medium-sized businesses define, implement, and achieve their long-term objectives, explicitly considering resource constraints and market agility.
Scope ● Within the context of growth, this involves formulating strategies for market expansion and increased revenue, often requiring innovative approaches due to limited capital. ● Considering automation, the strategic management framework incorporates selecting and implementing technologies that streamline operations and reduce costs, enhancing competitive advantage. ● Regarding implementation, it details specific action plans, resource allocation, and performance metrics crucial for translating strategic visions into tangible results, tailored for the pragmatic operational realities of SMBs, promoting scalable and sustainable expansion. This may require that SMBs strategically engage and employ niche marketing in the process.
