Assessment 7: Business Planning
(20.0 points)
In Unit 7, you learned about forming a company purpose, making a business plan, and doing a SWOT analysis. Now, you'll apply what you learned to analyze real companies and develop your own business idea.
1. Visit the Website for a well-known company, and find the unit that states its mission. Then answer the following questions about it. TIP: If the company's Web site doesn't describe its mission, choose a different company.
a. What is the name of the company, and what is its mission? (1.0 points)
Tennis Warehouse is a company that wants to provide people with the best tennis gear and equipment to get better.
b. How does the mission relate to the type of products the company sells? (1-3
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c. Did anything surprise you about the company's values? Why or why not? (1-3 sentences. 1.0 points) No, in a service based company, the people providing the service must have good values or else their customers will not want to return. People get haircuts every few months, so employees must have good values for their customers to keep returning.
3. Using the business idea you chose in Assessment 6, write a mission statement, vision statement, and list of 3-5 company values. (5.0 points) As a Professional Tennis Coach I want my students to be the best they can be in tennis, i use that mentality to try their hardest in everything they do. I also want to create future tennis pro’s, by training them everyday they can develop their game to get at least a college scholarship.
4. Make a list of at least 4 people you will want to give copies of your business plan to, and explain why you chose each of those people. (2-4 sentences. 2.0 points) 5. Describe at least three characteristics that you want people to associate with your brand. (1-3 sentences. 3.0 points) My work would be service based, I would want people to think of discipline, respect, and total focus when they come to my academy. I also would be selling some products, I want people to think of them as high quality, reasonable priced, and efficient.
6. Do a SWOT analysis for your company. Describe
Obtain a copy of the mission statement or other statement reflecting the core beliefs and purpose of a school with which they are familiar and answer the following questions:
II. Business Model and Strategic Plan Part I: Existing Business or New Business Division; Vision, Mission, and Value Proposition ………………………………6
A. Describe Eco-Products’ early history (1990 through 2003). Would you view the firm during that period as being a life-style business, an entrepreneurial venture, or? Why?
j.Explain and justify which of these your business may use when marketing their product or service (one of the businesses products/services you have explained within task d).
As I first joined the Prince George’s Tennis and Education Foundation tennis team, I was extremely pleased with the environment. I was met with friendly individuals and warm personalities from my peers and coaches alike. The coaches were exceptionally supportive, and I maintained a healthy, competitive relationship with my peers. Athletically, the PGTEF coaches were devoted to assisting the members of the team in comprehending
First, I would like to share with all of you what tennis is and what it’s like for the professionals and high school teams, to
a. To me, I believe that their statement above the door of their design studio speaks a lot of volume in terms of motivation and determination. By me reading the statement, it automatically gives me the mindset of wanting to innovate and excel pass the normal expectations that are expected. This shows their employees that innovating is an important factor to the company and the way to success. As a company, their goal is to continue to refine and develop new products and surpass their limits when it comes down to developing and designing products. They design new and better products in order to replace the already existing merchandises.
Student Answer: Most every company has a mission and vision statement, but some companies do poor jobs conveying the true intention or depth of these statements. The mission statement should state its purpose and drive its collective efforts. The vision statement should state its desired future and drive its strategic plan (MacLeod, L. (2016). According to these standard of a mission and vision statement most companies would be considered lacking. I am currently employed at GEODIS logistics. Our mission statement states, “We help our clients
Strategic planning is an important and vital part in running an organization for a variety of reasons. Strategic planning provides structure for all of the benefiting parties, whether it is the shareholders, executives, upper management or part time employees. Strategic planning allows everyone to be on the same page as far as where the organization is headed, it also helps employees understand the overall direction the organization. Part of the strategic planning process is utilizing all the tools necessary to make informed and educated decisions. At “Spot Fix”, we plan on taking advantage of all the tools necessary to run a business. Using these
|How the company will promote services/good to the target market. |Where the company will be located or products and services sold. |
Assess how the vision statement and mission statement of the corporation influence its overall success:
a. What should the management of Sports Products Inc. pursue as its overriding goal? Why?
1a) How would you go about defining the identity of Able Corporation and creating its mission statement?
1. Compatibility between company mission statements and direction. What are you trying to do? What are they trying to do? If they relate closely, you have the first element.
A. Describe Eco-Products’ early history (1990 through 2003). Would you view the firm during that period as being a life-style business, an entrepreneurial venture, or? Why?