BA153 Assignment Number 2

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BA 153 Assignment #2: Due 6/15/08 (1-2 pages total)

Write Company Summary & Mission/Vision Statement

(Single spaced text, Double-spaced between paragraphs) OK to have bullet points

 

1) Company Summary (Business Description) See Chapter 6, page 128 & 138. Write a brief description of your business –what product or service will you offer. Are you going to be a for-profit or a not-for-profit venture? If your business venture is already in existence, include its history. This section informs the reader of the type of business being proposed, the company’s objectives (goals), where the firm is located (address), type of ownership (if you are the sole employee, as owner, then you are a sole proprietorship). Introduce your company name here too.

 

Example: Find 60 examples at: http://www.entrepreneur.com/services/sample plans (Look at the “Company, Services, Mission, & Vision” sections –many industries). Text: Appendix A (page 573).

 

2) Mission Statement & Vision Statement:

A)     Mission Statement: Defines your company’s current strategy and business philosophy. The mission statement should be concise, simple, and believable. The mission statement includes your: Product, Market, and Geography.  Examples:

 

a.       Avis  Rent-a-Car : Our business is renting cars.  Our mission is total customer satisfaction.

 

b.      Otis  Elevator: Our mission is to provide any customer a means of moving people and things up, down, and sideways over short distances with higher reliability than any similar enterprise in the world.

 

c.       Eastman Kodak: We are in the picture business.

 

d.      Wit Capital (an Internet startup company): Our mission is to be the premier Internet investment banking firm focused on the offering and selling of securities to a community of online individual investors.

 

As you can see, some are brief and other have more detail. The main thing is to let your creativity flow!

 

B)      Vision Statement:  Indicates the Future of your Company & answers the “Where are We Going” question. The Vision Statement. helps to guide the company towards a destination and addresses perceived market needs and the role the organization needs to satisfy them. Examples:

a.       General  Electric (Jack Welch): “We will become number one or number two in every market we serve, and revolutionize this company to have the speed and agility of a small enterprise.”

 

b.      Microsoft  Corporation (Old Vision): “A computer on every desk, in every home”

 

c.       Microsoft  Corporation (New Vision): "To enable people and businesses throughout the world to realize their full potential"