Why is the concept of strategic management so important to the entrepreneur?

Discussion 1: STRATEGIC MANAGEMENT AND ENTREPRENEURSHIP

Why is the concept of strategic management so important to the entrepreneur?  What are the benefits of understanding and employing a strategic management process to the entrepreneur in his/her business?

Discussion 2: STRATEGIC AUDIT

Review the Strategic Audit of a Corporation in Appendix 1.A of your text.  How would this audit benefit the entrepreneur?  What elements would be the most helpful to the new entrepreneur when developing his/her business plan? Respond to two of your fellow students who selected different elements; in your responses, indicate why your choice of elements differed from theirs.

I want at least 200-250 words per discussion and scholarly resources.  Originality and no plagiarism.