Competency
Evaluate business models that organizations utilize to effectively implement strategies.
Scenario
You have decided to open a cupcake bakery and move your home-based business into a storefront. Recently, you met with SBA National, a non-profit, that focuses on helping entrepreneurs start their business with funding and guidance. The non-profit also hosts a business pitch competition to anyone who is a client. One of the requirements of the SBA business pitch competition is that each participant must fill out a Strategic Mind Map to capture the strategic plans for your business.
Instructions
Fill in the following details for your business using the attached Strategic Mind Map template:
Define your business model
Identify your strategic position in the market
Identify your internal factors effects and external factors effects (EFE & IFE)
Identify your short and long-term goals
Execution steps for your plan
Key performance metrics
In the same Word document as the template (or copy and paste the template into a new Word document) do the following:
Outline how the company will use the strategic planning process.
Based on your analysis and research, make a recommendation on how you could use this in your proposal.
Provide attribution for credible sources.
Grading Rubric:
Comprehensive definition of the business model.
Comprehensive identification of the strategic position in the market.
Comprehensive identification of internal factors effects and external factors effects (FFE & IFE).
Comprehensive identification of short and long-term goals.
Comprehensive execution steps for the plan.
Comprehensive key performance metrics.
Comprehensive description of how the company will use the strategic planning process.
Comprehensive recommendation based on analysis and research on how student will use the concept map in their proposal.
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