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Week 1 Discussion – Company Description and Mission Statement
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To prepare for this week’s discussion response, review the For-profit startup Company Guidelines provided below and select a business you want to focus on. Consider a startup company that will be the best fit for your academic, career, and personal goals. You will be living with your decision for the next 11 weeks, so choose well.
Throughout this course, you will complete activities that you will later combine into a complete business plan for your chosen company. That final assignment is due in Week 10.
- All discussions and assignments in this class will focus on the company you select.
- Your faculty member will approve your selection in a reply to this discussion post.
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career.
Next please respond to the following:
- Discuss the name you have chosen for your company and explain why you think it is a good name for your business.
- Describe the product or service you will sell.
- If you sell services, clarify the service options you plan to offer.
- If you sell a product, specify the options (flavors, versions of the product, et cetera) you will offer to consumers.
- Include your company’s mission statement.
- Enclose your mission statement within quotation marks.
- The mission statement should be a clear and cohesive statement with 3 distinct components:
- What you do.
- What makes you unique.
- Your core values and/ or purpose.
- Example: “Our mission is to… insert what you do and how you stand out. We do this with a commitment to … insert your core values and/ or purpose.”
- The mission statement should be a clear and cohesive statement with 3 distinct components:
- Enclose your mission statement within quotation marks.
Reminder: After submitting your post, watch for your faculty member’s approval in a reply to your post. You must have this approval to proceed.
Week 2 Discussion – SWOT Matrix
145 145 unread replies. 183 183 replies.
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion response, complete the SWOT matrix to highlight the strengths, weaknesses, opportunities, and threats of the company (as approved by the instructor). Each SWOT category should include four items. Use the SWOT matrix template below.
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
- Submit the completed SWOT Matrix.
- Discuss the opportunities you identified in your SWOT Matrix to clarify how you can increase your sales by pursuing those opportunities.
Review the link SWOT Analysis: How To With Table and Example
Links to an external site. for additional information.
Week 3 Discussion – Target Market
127 Unread replies144 Replies
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion response:
- Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
- Describe the target market (businesses or consumers) for your chosen company.
- Use the following headings to organize your response. Why do you think this category of people is more likely to buy what you have to sell?
- Demographic Description: Age, income range, gender, family size, education, occupation, et cetera.
- See page 109 for a list of demographic characteristics you can choose from.
- Example: A likely user for X product is a male aged 25–34 who earns between $35,000 and $55,000 per year and has a four-year college degree.
- Geographic Description: Area you would like to serve, density (urban, rural), nature of location (mall, business center, et cetera), climate condition.
- Example: Atlanta.
- Lifestyle Description: Where do your customers shop, what do they do for leisure, what kind of clothes do they wear, what type of cars do they drive, et cetera?
- See page 113 in the textbook for a list.
- Psychographic Description: How would you describe your target market, for example, socially responsible, trendsetters, or fun seeking?
- See page 112 in the textbook for a list.
- Purchasing Pattern Description: How will your target market use the product, how many times will they buy it, where do they buy the product, how do they pay for it, et cetera?
- See page 112 in the textbook for a list.
- Buying Sensitivities Description: What factors are important to the customer before they buy (price, quality, customer service. packaging, et cetera)?
- See page 114 in the textbook for a list.
- Demographic Description: Age, income range, gender, family size, education, occupation, et cetera.
- Week 3 Assignment – Company Description and SWOT Analysis
Overview
In this first course assignment, you will create a description of your selected company that includes trends, strategic positioning, distribution channels, and a SWOT analysis. You’ve already begun this assignment in your discussions.
In the Week 1 discussion, you chose a company 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 and any changes you would like to make.
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 and to 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 within a 100-mile radius of 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 below.
Use the template below to complete this assignment:
Requirements
The specific requirements for this assignment are to write a 3–5 page paper in which you:
- Describe your company:
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- Specify the company name and explain why you think it is a good name for your business.
- Describe the product or service your company is selling and provide a list of the options offered. (see week 1 discussion)
- Provide the final version of your mission statement in quotation marks (you worked on this in the week 1 discussion).
- Describe at least three trends in your specific industry, focusing on a particular type of product or service you will sell.
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- Provide industry information such as the size and growth rate for the overall industry and for the specific product or service on which you are focusing and any other relevant industry information.
- Search the Strayer Library, industry associations, and reliable websites for recent data.
- Select the strategic position from the course textbook (pages 146–147) (that you believe is the best one) for your chosen company and justify your selected strategic position.
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- Explain how you will implement your strategy to distinguish your product or service from the competition.
- Consult Chapter 9, “Strategic Position & Risk Assessment,” of your textbook for help in crafting this portion of your business plan.
- Describe the company’s distribution channels you selected.
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- Provide the rationale for your selection.
- Use the following sample questions to select 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?
- Complete the SWOT analysis
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- Insert the final version of your SWOT matrix (Revise your week 2 version based on feedback).
- Summarize the key learnings from your Matrix (how can you use some of the strengths to pursue opportunities, what weaknesses should you focus on as a priority, what contingency plans should you develop for some of the threats you identified, etc.)
Week 4 Discussion – Marketing Strategy
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Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion, you will complete the marketing vehicles table and the company information and marketing expenses worksheet in the Company Financials Excel Template
Download Company Financials Excel Template. You will include the table in the discussion window and attach the Excel.
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
- How can you best promote what you are selling to your target market? Identify the marketing vehicles you will use to reach your customers and record your answers in the Marketing Vehicles Table.
- Be sure to include the cost of each marketing vehicle.
- Copy the table and paste the content into the discussion window.
Marketing Vehicles Table | ||
Marketing Vehicle | Frequency | Cost/Month |
Example 1 Social Media: Facebook and Instagram |
2–3 times per week | $600 per month |
Example 2 TV Stations: Local Station, WTC |
1 time per week | $1,000 per month |
Example 3 Free Samples |
2 events | $500 per month |
Website | $2000(one time cost) | |
- Complete the Company Financials Excel Template
- Download the Company Financials Excel Template below.
- In the Company Financials Excel Template select the company information tab/worksheet and complete the information.
- See the instructions tab in the Company Financials Excel Template for specific guidelines on how to complete the Excel document.
- In the Company Financials Excel Template select the Marketing Expense tab/worksheet and complete the information.
- Enter the marketing costs from the marketing vehicle table into the appropriate areas of the Marketing Budget worksheet.
- Only the costs from the table should be reflected in the marketing budget worksheet in the Excel document. The information in the table and marketing budget worksheet must align.
- Attach the entire Company Financials Excel Template to the discussion thread before selecting Submit.
- Click on Insert/Document in the discussion menu to attach your document.
Week 5 Discussion – Operations
124 Unread replies143 Replies
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
Review the appropriate guidelines for your selected company:
For this week’s discussion, respond to the following:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
How does your business work? Describe the day-to-day flow of activities necessary to deliver your product or service to customers. Wherever applicable, identify costs. Be sure to address the following, as applicable to your chosen business in the response, using headings:
- Facilities.
- Describe the facility, including its location.
- Specify whether it is rented or owned; include any associated costs.
- Estimate the cost of utilities, such as water/sewer, gas, electricity, and trash removal.
- Production Process/Description of business operations.
- Describe the production process (how you will produce the product) or describe how your business will operate if this is a retail or service company.
- Identify the equipment, furniture, vehicles, etc. you will use and associated costs.
- Explain your approach to quality control.
- Explain your approach to inventory, as applicable.
- Personnel Needs
- Specify the number of employees you plan to have, including managers.
- Identify their roles, wages, and/or salary.
Week 5 Assignment – Marketing Plan and Budget
Overview
- In this assignment, you will focus on creating the marketing plan for your business. Your chosen company will operate within a 100-mile radius of 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 below.
- Use the template below to complete this assignment:
Reminders
You are not starting this assignment from scratch. You have already worked on these sections of your business plan in the weekly discussions:
- Target Market (Week 3 discussion).
- Marketing Vehicles (Week 4 discussion).
You will revise the target market description and marketing vehicles based on the feedback you received in the discussion thread and any changes you want to make to your business plan.
Marketing Plan
In MS Word, write the 3–5 page marketing plan and sales strategy section of your business plan, in which you:
- Complete the company’s target market description you developed in the Week 3 Discussion based on the instructor’s feedback.
- Be sure to include demographic, geographic, lifestyle, psychographic, purchasing patterns, and buying sensitivities in the target market description.
- Assess the company’s top 3 competitors.
- The assessment needs to include a brief description of the exact company and particular product or service you are competing against. For example, Coca-Cola offers a portfolio of products, such as water, fruit juice, and cola. Are you competing against Coca-Cola’s fruit juice product? Or its cola product?
- Develop a plan that includes how you compare your business to your competitors currently and how you will differentiate yourself from the competition in the future.
- How will you stand out and why?
- Outline the company’s value proposition.
- The value proposition tells your customers why they want to do business with you.
- Detail the marketing vehicles you will use to build your chosen company’s brand.
- Provide a rationale for selecting the vehicles and why you believe they will be effective in promoting your business.
- Insert the final version of the marketing vehicles table adjusted per the feedback received from the Week 4 Discussion.
Marketing Vehicles Table | ||
Marketing Vehicle | Frequency | Cost/Month |
Example 1 Social Media: Facebook and Instagram |
2–3 times per week | $600 per month |
Example 2 TV Stations: Local Station, WTC |
1 time per week | $1,000 per month |
Example 3 Free Samples |
2 events | $500 per month |
Website | $2000 (one-time cost) |
Week 6 Discussion – The Triple Bottom Line
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Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
Before writing this week’s discussion posting, review this MindTools article, The Triple Bottom Line: Measuring Your Organization’s Wider Impact
Links to an external site., for more details on the triple bottom line.
The concept behind the triple bottom line is that companies are responsible to all their stakeholders. This includes everyone involved with the company, whether directly or indirectly. It also includes the planet on which we all live. This approach views shareholders as very important stakeholders. This approach also recognizes the need for companies to consider other important stakeholders in the company, including employees, customers, vendors, and the larger community.
For this week’s discussion, please respond to the following:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
- How would you implement the triple bottom line (people, planet, profit) concept at your chosen company?
- Keep the following format in mind as you complete this week’s discussion:
- Profit: When looking at profit from this theory’s perspective, the idea is that profits are more than just a benefit for shareholders. Profits will help empower and sustain the community as a whole. Provide specific examples of strategies to keep the company profitable.
- People: Describe your commitment to each of the following categories (type your answer under each category):
- Customers.
- Employees:
- Keep the following format in mind as you complete this week’s discussion:
-
-
-
-
-
- For example, one way to care for employees is to provide a good working environment, training and development opportunities, and health care.
-
- Community.
- Suppliers (as applicable)
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- Planet: Explain your approach to minimizing your company’s impact on the environment, considering all aspects of your operations. For example, your company might develop a process to minimize waste or reduce energy usage, such as using recycled materials in its production process.
-
-
Week 7 Discussion – The Business Plan Financials
124 Unread replies176 Replies
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
Before completing this discussion post, review these resources:
- Textbook Chapter 16, “The Financials,” pages 289–332.
- “Sources and Use of Funds,” page 317, and “Sample Plan: Sources and Use of Funds,” page 331.
- “Break-Even Analysis,” pages 320–321.
- Your business plan.
- Review the guidelines:
For this week’s discussion, please respond to the following:
- What are your financial projections for the next 2 years?
- Complete all worksheets in the Company Financials Excel Template
- Download Company Financials Excel Template using your business plan and the Instructions provided in the first worksheet.
- Completing all these worksheets will enable you to finalize the Income Statement, Cash-Flow Statement, and Balance Sheet in the Company Financials Excel Template.
- Attach the Company Financials Excel Template to the discussion submission area and click Submit.
- To do this, Click the Insert button in the top menu of the discussion window, then select document/ browse for your Company Financials Excel Template and submit. Provide a brief description of your business in the discussion window (up to 3 sentences).
Week 8 Discussion – Business Valuation
97 Unread replies122 Replies
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
To prepare for this week’s discussion response, review the following resources.
- Before beginning work on this discussion post, review Chapter 16, “The Financials,” in your textbook. You already read this chapter during the previous week.
- The financial plan must be based on decisions and facts. Investors want to know whether your business plan is realistic.
For this week’s discussion, please respond to the following:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
- What should you look for when performing a business valuation?
- What method would you use to calculate the value of your startup and why?
Week 8 Assignment – Operations, Technology, Management, and Social Responsi…
Overview
In this assignment, you will focus on these sections of your business plan:
- Operations.
- Technology.
- Management and Organization.
- Social Responsibility.
You will revise the Operations, Social Responsibility sections based on the feedback you received in the discussion threads and any changes you want to make to your business plan.
The Technology and Management and Organization sections are new. You have not worked on these sections in your discussion threads.
Reminders and Notes
- Your chosen company will operate within a 100-mile radius of 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 below.
- You are not starting this assignment from scratch. You have already worked on these sections of your business plan in the weekly discussions:
- Operations (Week 5 discussion).
- Social Responsibility (Week 6 discussion).
Write a 4–8 page paper in MS Word, in which you provide the specified information in each section.
Use the template below to complete your assignment:
Operations Section (1–2 pages)
Notes
- Chapter 11, “Operations,” pages 195–218 of your textbook, provides information about developing an operations plan. The chapter also provides a sample operations plan. You’ve already read this chapter in Week 5. Refer to it on an as-needed basis as you work on this section of your business plan.
- Assign a dollar amount to each operational cost you find; you will need these figures for your financials in the Company Financials Excel Template
- Download Company Financials Excel Template.
- Revise your post and the feedback you received in week 5 to create your operations plan.
Instructions
- Create an operations plan for your selected company expanding on each of these topics, including any applicable costs:
- Facilities.
- Describe the facility, including its location.
- Specify whether it is rented or owned; include any associated costs.
- Estimate the cost of utilities, such as water/sewer, gas, electricity, and trash removal.
- Production Process/Description of business operations.
- Describe the production process (how you will produce the product) or describe how your business will operate if this is a retail or service company.
- Identify the equipment, furniture, vehicles, etc., you will use and the associated costs.
- Explain your approach to quality control.
- Explain your approach to inventory, as applicable.
- Personnel Needs
- Specify the number of employees you plan to have, including managers.
- Identify their roles, wages, and salary.
- Facilities.
Technology Section (1–2 pages)
Notes
- Chapter 12, “Technology Plan,” pages 225–234 of your textbook, provides information about developing a technology plan. The chapter also provides a sample technology plan. You’ve already read this chapter in Week 5. Refer to it on an as-needed basis as you work on this section of your business plan.
- Assign a dollar amount to each technology cost you find; you will need these figures for your financials (Company Financials Excel Template).
- Consider the type of technology your selected company will use to conduct activities, such as managing personnel; taking, fulfilling, and tracking orders; managing inventory; communicating with customers and providing customer service; and producing your product or providing your service.
Instructions
- Create a technology plan for your selected company expanding on each of these topics, including any applicable costs:
- Software Needs.
- Examples of software you might need include graphics, customer relationship management, accounting, inventory, and office suite.
- Hardware Needs.
- Examples of hardware you might need include computers, monitors, servers, routers, and tablets.
- Telecommunication Needs.
- Examples of telecommunication equipment you might need include phones, Internet, fax, and mobile phones.
- Software Needs.
Management and Organization Section (1–2 pages)
Notes
- Chapter 13, “Management & Organization,” pages 235–258 of your textbook, provides information about developing a management and organization plan. The chapter also provides a sample management and organization plan. This chapter was part of the assigned reading for this week. Refer to this chapter on an as-needed basis as you work on this section of your business plan.
- Be sure to include the salary costs associated with the management personnel; you will need these figures for your financials (Company Financials Excel Template).
Instructions
- Create a Management and Organization plan for your selected company expanding on each of these topics, including any applicable costs:
- Key Management Employees.
- List key management team members, provide a brief description of each person’s background (experience, skills, certifications, etc.) and job responsibilities, and include their salary.
- Justify your selections.
- Explain how each manager can make a difference in your business.
- List key management team members, provide a brief description of each person’s background (experience, skills, certifications, etc.) and job responsibilities, and include their salary.
- Management Hierarchy.
- Outline your company’s management hierarchy using the flow charts on page 248 of your textbook as a guide.
- Import/include all charts or diagrams into the MS Word document.
- Key Management Employees.
Social Responsibility Section (1–2 pages)
Notes
- Chapter 14, “Social Responsibility & Sustainability,” pages 259–270 of your textbook, provides information about developing your social responsibility plan. The chapter also provides a sample social responsibility and sustainability plan. You’ve already read this chapter in Week 6. Refer to it on an as-needed basis as you work on this section of your business plan.
- Revise your post and the feedback you received in week 6 to create your social responsibility plan.
Instructions
- Create a social responsibility plan for your selected company expanding on each of these topics:
- Impact on Stakeholders.
- Describe the ways your chosen company will impact stakeholders, such as employees, customers, suppliers, and the community. This is the people section of the triple bottom line.
- Customers.
- Employees.
- Community.
- Suppliers (as applicable)
- Examples:
- What types of benefits (such as health care, flexible work hours, and opportunities for advancement and education) will your company offer employees?
- What types of opportunities (such as classes, sponsored events, and assistance to causes and charities) will your company offer the community?
- Describe the ways your chosen company will impact stakeholders, such as employees, customers, suppliers, and the community. This is the people section of the triple bottom line.
- Environmental Impact.
- Explain your approach to minimizing your company’s impact on the environment, considering all aspects of your operations. For example, your company might develop a process to minimize waste or reduce energy usage, such as using recycled materials in its production process.
- Impact on Stakeholders.
Week 9 Discussion – Elevator Pitch
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Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
- Develop a 30-second elevator pitch for your selected company using the formula provided in the article below (Do you know.. What we do.. So that.. ).
- Read Robert W. Bly’s article, The 3-Part Elevator Pitch Formula You Need to Know
- Links to an external site..
- Submit the pitch in a video format.
- Enclose the script for your elevator speech within quotation marks.
Note: As you review your classmate’s elevator pitches, in your comments to them, note if they were effective in creating the desire to buy the product or service.
Week 10 Discussion – Presenting Your Business Idea
52 52 unread replies. 125 125 replies.
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion:
How will you convince investors to invest in your business? Create a presentation using one of the following formats:
- Audio/Video presentation over PowerPoint (no more than 12 slides)
- Storytelling (video recording – no more than 5 min—no PowerPoint needed for this option.
Include the following topics in your presentation:
- Title Page
- Include the company name and your name.
- Outline of what the company does.
- What are you selling (product or services)
- Target Market.
- Who is the target market for your product or services?
- Market Size.
- How big is the market or industry on which you’re focusing?
- What are the growth opportunities?
- Competition.
- Who are your top 3 competitors?
- Your Management Team.
- Who runs the business?
- What are their roles and key skills?
- Business Model.
- How will your business make money?
- Financials.
- What key financial information does your audience need to decide whether to invest in you and your business?
- Funding
- How much are you asking from investors and the equity given in exchange?
- How will the funds from investors be used?
- Summary
- Why should the investors invest in this business and in you?
Notes:
- Include a brief overview of your business: company name and what you are selling (a maximum of 3 sentences) in the discussion window and then attach the video or PowerPoint (with the audio or video recording) using the Insert/Document option.
- You have been working with the information for this presentation all quarter in the discussion and assignments. This is not new information. Now is your chance to succinctly show investors what your chosen business is all about and why they should want to invest in you and your company.
Week 10 Assignment – Business Plan–Final
Overview
At this point in the course, you have completed all the necessary sections of your business plan. Your task in this assignment is to create the final version of your plan. You will include all the previous assignments you have been working on and attach the financials.
The key to this assignment is to use the feedback you have received throughout the course to polish your plan to the point that you can confidently show it to investors and potential partners or customers. Therefore, one new piece to include is a 1–2 page executive summary.
This assignment consists of two parts:
- Your final business plan (an MS Word document).
- Your final business plan financials (using the Company Financials Excel Template
To successfully complete this assignment, you must attach both documents to the submission area as separate files and then click Submit.
Reminders and Notes
- Your company will operate within a 100-mile radius of 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 provided.
- Use the template below for this assignment (Word portion):
Part 1: Business Plan-Final
Notes
- The executive summary is a critical aspect of this assignment. Your ability to condense and highlight critical information about your chosen company to investors will determine whether they decide to invest in you and your company or not.
- Chapter 4, “The Executive Summary,” pages 53–66, provides information about writing the executive summary. You may write either a synopsis or a narrative summary. Pay particular attention to the following:
- Executive Summary Plan Preparation Forms on pages 58–61.
- Sample Plans on pages 62–66.
- Examples of Executive Summaries
Instructions
In MS Word, construct a 10–20 page business plan in which you:
- Develop an executive summary that highlights the key points for each section of the business plan.
- You should not exceed 2 pages.
- Develop a comprehensive Business Plan for your selected business product or service. Incorporate feedback to produce a comprehensive business plan for the product or business. Specifically, you will be combining all of the previous assignments and revising them to build your business plan:
- Week 3 Assignment: Company Description and SWOT Analysis.
- Week 5 Assignment: Marketing Plan.
- Week 8 Assignment: Operations, Technology, Management and Organization, and Social Responsibility Plan.
- Be sure to include all the headings from each of Assignments 1, 2, and 3 for this section of the business plan.
Week 11 Discussion – Reflection
53 Unread replies61 Replies
You have learned a great deal this term! You can now bring so much more to the table as a strategic manager. With the knowledge you’ve gained over the last eleven weeks, you’re also better prepared to contribute to the overall success of your team, project, or business.
Post a Response
Note: Please review the information posted in the Instructor Insights area this week before working on your discussion reply. You will find tips and resources to help.
For this week’s discussion, please respond to the following:
- What have you learned in this course and program?
- What would you have liked to learn in this class or program that was not covered?
- Share three strengths you’ve acquired or existing skills in which you’ve become more proficient during this course.
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