Week 2/Assignment 1
Sections 2 & 3
Mission & Vision and Innovation Description, Industry Analysis & Trends
Length: Up to 10 pages, double-spaced (Times New Roman, 12 point font with standard 1” margins).
Due: Due Sunday of Week 2 by 11:59pm. Be sure to run your publish past your writing partner before submitting your work.
Addresses Learning Outcomes: 1 & 3
• Do not start this assignment unless you have written approval from the instructor for your topic. No exceptions.
• Apply what you learned in your MBA program, specifically classes BUSU 630, BUSU 650, OLCU 613, OLCU 615, and OLCU 632.
• Cite your references. You may use your textbooks from these and other core classes in the MBA.
• Do not cut and paste from your past assignments and papers.
• This assignment includes two sections of the business plan in one paper. Apply section headers to separate the two sections in one paper.
• Be sure to fully explain your illustrations. You do not want your reader to interpret the illustrations, you must control the message. Provide an in-depth explanation of your illustrations.
Section 2: Mission & Vision Statement
The mission and vision statement is sometimes a paragraph with bullets. Search corporate mission and vision statements for examples.
There should be sufficient evidence of how operational, financial, management, and marketing plans are executed in light of the innovation’s mission and vision.
The narrative portion of this section should explain the mission and vision statement and be about two pages long.
The mission and vision statements should be short enough to fit on a t-shirt.
Section 3: Innovation Description and Industry & Trends Analysis
• Describe the type of business and legal structure (e.g., LLC, sole proprietorship) of your business.
• Provide a clear, concise and interesting description of what the innovation is uniquely bringing to the marketplace
• Discuss the distinctive core competencies of your business.
• Provide an overview of the location of your business.
• Discuss the demographics of your target market.
• Length: 2 pages.
Industry & Trends Analysis- abt 2 page
This narrative describes the state of the industry, market research, barriers to entry, identifying competitors, identifying market niche, expert advice, competitive analysis, and strategic positioning of your business.
Include the following detail:
• The history of the industry
• Size of the industry
• Industry evolution
• The trend–where the industry is expected to be in five to ten years
• The key players in the industry (those who do something like this well and those who do not, something different)
Perform a competitive advantage analysis, including:
• Barriers and challenges to entering the market
• Environmental scan
Include a preliminary SWOT analysis (aka situation analysis) that includes presents a clear statement of the opportunities and threats through preliminary SWOT analysis. The SWOT analysis connects to the research and results in data-driven decision making. The SWOT will be fine-tuned in later assignments.
Other issues to include, if applicable, are:
• Copyrights, patents, & intellectual property rights
• Research & development activities
• Failures in the industry
• Changes in the market