1. Read and review all of the following links:
a. Michael Griffith’s “How to Write a
Mission Statement for Your Business”
b. 51 Mission Statement Examples from the
Worlds Best Companies
c. A Level Business Revision – Pricing Strategies
2. Identify a business idea in which you have interest.
3. Considering the strategic management process discussed in earlier
readings, answer the following questions as though you are the potential owner
and operator of this new (and perhaps for now, hypothetical) business.
4. Develop a clear and brief mission statement for your business idea using
the guidelines in the above resources.
5. At the beginning of a two- to three-page paper, list this mission
statement, and then apply and discuss the following planning steps:
a. What are your strengths, weaknesses, opportunities, and threats?
b. Identify the key factors for success in your business.
c. Discuss what competition you may have and how you will compete against
the larger chain stores or service organizations.
d. What role does pricing play in creating an image for your product or
service? What pricing strategy would you employ?
e. What recommendations would you propose to monitor your success and
direct your company’s strategy for the future?
6. The format should use correct APA formatting with a title page, in-text
citations, and a reference page.
7. For questions on APA style, review OCLS APA Writing Styles Guides.
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