Steenkamp et al. Strategic Planning for Small IT Business Strategic Planning for Small IT Business

Strategic planning is critical for the survival of small IT businesses. They are challenged by the escalation of competition, customer power, competitive strategies, and diverse global market players. Competition is caused by the concurrence of a number of market factors. The value of having a strategic plan is widely accepted, but formulating a sound strategic plan based on some standard format poses significant challenges due to factors such as varying size of IT businesses and stage of growth, and the type and scope of customer services provided. This contribution examines strategic planning processes, levels of strategic planning and some strategies that are specific to small IT businesses. The characteristics of a small IT business are considered in terms of a growth model, and a simplified strategic planning process model is proposed. A SWO