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Identify a particular type of business you may wish to start. You are required to:
1. Develop a written mission statement for that business
2. Construct a set of goals for the business
3. From the set of goals developed in (2) above, formulate specific verifiable objectives
4. Devise a statement of social responsibility (CSR) for the business
5. Discuss two strategies that you intend to adopt to grow the business
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- All companies want to have growth, but growth is not all the same in terms of its lasting effects. To get started this week, read the article in Forbes, 13 Factors to Ensure Sustainable Business Growth Links to an external site.. After you read the article, choose a company that you are interested in or would like to work for one day. Assess the company and suggest two growth strategies you would recommend for the company and explain why you have made these recommendations. https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2020/06/08/13-factors-to-ensure-sustainable-business-growth/?sh=7aa2c6975279Write a business plan on how you are going to operate. Regardless of whether you are interested in taking over an existing business or starting a new one; they both have challenges that you will need to overcome in order to succeed. Discuss one of the challenges in starting a new business and how you may be able to address that challenge with a well-designed business plan, as well as how the pandemic has been a main challenge. Your challenge can be unique to either a start-up or on-going business or both.List ways to avoid the following reasons for businesses failure; inability to manage growth , inability to plan for traditional processes, lack of commitment, failure to set and revise goals.
- describe a robotics robot Company's Mission, Vison, Product development, Team, and include Marketing and Financial Plan for the next 3 years. Please provide your critical analysis of the company’s activities and in-depth arguments to support your statements.Which characteristics does a good mission statement include? Please explain. What are the alternative growth strategies for a company?1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…
- Now that you have identified a problem, provided a business idea to solve the problem and alsoreflected on your own entrepreneurial characteristics and possible business risks, you are nowgoing to interrogate whether your idea is indeed a business idea or a business opportunity, youwill also analyse the environment to assess whether environmental conditions are favourable foryou to enter into the business world.As with other tasks, you will need to conduct research beyond the textbook in order to completethis task.1. Justify whether your proposed solution/idea meets the characteristics of a successfulproduct or service idea.NB: Refer to characteristics of a successful product or service idea.Which factor of the four following factors do you believe is most important to include in a great business plan? Why do you believe this factor is of such importance and what makes it more important than the other factors, in your opinion? people, profile of business, business context, and risks & rewardsWatch the video below and then explore the sba.gov website. Summarize the highlights of the video and the sba.gov website in 300 words and connect them to chapter 5 around the concept of business planning. If you have any questions please let me know. https://youtu.be/lZi4A9pyJb4 https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan
- Which industry for which you are considering developing a strategic plan? What industry are you currently working in? Same as above or some other? If it’s different, please identify the one that you’re currently working in. Mission (Purpose of the company, and what the company strives to do) Vision (Desired future achievements and state it wants to be in) Values (How employees should conduct themselves and their business to achieve the mission) Establish Major Goals (Goal – be precise and make sure those are measurable goals)In the dynamic landscape of technology startups, effective strategic planning plays a pivotal role in determining the success and sustainability of a business. Consider the case of XYZ Tech, a startup that entered the market with an innovative software solution. In the initial stages, the company faced challenges such as rapid technological advancements, fierce competition, and changing customer preferences. The leadership team recognized the need for a comprehensive strategic planning approach to navigate these uncertainties and position the company for long- term success, XYZ Tech engaged in a thorough analysis of market trends, competitor activities, and customer feedback. Through collaborative workshops and consultations with key stakeholders, the company formulated a strategic plan that focused on product innovation, market expansion, and customer relationship management. The plan outlined specific goals, milestones, and allocated resources to ensure efficient execution. As a…Reign of tiles: - Nature of Business - Vision, Mission, Objectives - Overview of the Product