Final Business Model and Strategic Plan
Alicia Mercier
BUS/475
March 19, 2015
Todd Keller
Final Business Model and Strategic Plan
Business Model and Strategic Plan
A strategic plan is vital to conceptualizing and developing a new business built for success. Mission, vision, and value statements are critical factors that act as guiding principles for an organization’s strategic initiatives. Organizations build their corporate, business, and tactical strategies and objectives. The given paper is a descriptive analysis of mission and vision of Sew It All, and how these statements help Sew It All to differentiate itself from its competitors. In addition to that, the paper also discusses about Sew It All’s values, which are governed by its mission and vision statements, and how these values inherently guides the company’s strategic directions, which in turn will help the company to satisfy its stakeholders, increase profitability, and differentiate itself from competitors.
Choosing to begin a business can be one of the most exciting decisions you may choose to do in life. Here are the following steps that Sew It All will use to make the dream of starting the new division inside of Joann.
Step 1: Get Motivated
All it takes is an idea and some motivation and any can begin the process of starting a business. Some may have been longing to create and may suddenly get the motivation to do so. It simply takes the want, desire, and know how to make a new business a success.
Step 2: Do Your Research
So you have decided on opening your dream business. If so the next step is to determine if the business idea has potential to succeed. For a small business to be successful, it must be able to solve problems, have an idea or product that the market needs or wants. There are a many different ways to identify this need, including doing your research and trial and error. As you explore the market, some of the questions you should answer include:...