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    Overview In this first course assignment, you will create a description

 

 

Overview

In this first course assignment, you will create a description of your selected company and a SWOT matrix that includes trends, strategic  positioning, distribution channels, and risks. You’ve already begun this assignment in your discussions.

In the Week 1 discussion, you chose a company (whether your own  or the snack food company scenario) and created a description and  mission statement for it. In this assignment, you will need to revise  your selected company’s description and mission statement based on the  feedback you received in the discussion thread. You will also include a  brief narrative that provides the rationale for including each component  of the mission statement.

Likewise, in the Week 2 discussion, you began work on your SWOT  (strength, weakness, opportunity, threat) matrix. Your task in this  assignment is to revise your SWOT matrix based on the feedback you  received in the discussion thread. You will also summarize the key  learnings from your SWOT matrix.

Reminders and Notes
  • Before beginning this assignment, you may find it helpful to  review textbook Chapter 3, “Making Your Plan Compelling.” This chapter  provides useful information about how to organize the information in  your business plan.
  • Your chosen company will operate in a 100-mile radius from your  home address. Your goal is to reach $1 million in sales by the end of  the second year.
  • Be sure to follow the guidelines whether you are using the snack food company or the company of your choice.        

Requirements

The specific requirements for this assignment are to write a 3–5 page paper in which you:

  1. Describe the product or service on which the company is focusing, including the company’s name and its significance.
  2. Revise the company’s mission statement based on feedback received in the Week 1 discussion thread, including the rationale for each component of the mission statement.        
    • Place the mission statement within quotation marks.
    • Use the Mission Statement Worksheet on pages 72–73 of your textbook as a guide.
  3. Describe the trends in your specific industry, focusing on your particular type of product or service.        
    • Research and outline industry trends. Be sure to consider the  size and growth rate for the overall industry and for the specific  product or service on which you are focusing.
    • Search the Strayer Library, industry associations, and reliable websites for recent data.
  4. Select the strategic position from the course text (pages  146–147) that you believe is the best one for your chosen company and  explain how you will implement it to distinguish your product or service  from the competition.        
    • Consult Chapter 9, “Strategic Position & Risk Assessment”  of your text for help in crafting this portion of your business plan.
  5. Describe the company’s distribution channels and provide the rationale for your selection.        
    • Sample questions to ask when choosing distribution channels:          
      • Will you sell your product in grocery stores, restaurants, or sports venues?
      • Will you sell your product online or as a subscription?
      • Where will the service be offered?
  6. Revise your selected company’s SWOT matrix based on feedback  from the Week 2 discussion thread and summarize the key learnings from  your matrix.        
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