The strategic management 6-step process starts with identifying an organization's mission and the next step is to analyze the external and internal organizational environments to perform a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis.
Preparing a business plan mirrors this process. Every new business or new department or SBU requires careful business planning. Not only does a business plan determine what you're going to do and how you're going to do it, this plan provides a sound basis from which you can obtain resources, funding and loans for this business.
As we learned in earlier business classes, creating a business plan involves setting goals and objectives, preparing a market analysis, a product analysis, SWOT analysis, determining how you will use resources and more.
For this assignment, imagine you want to start your own business. **(Please use a Photography business)**
When you have selected your type of business/product, use the Internet to conduct your research and prepare the following:
Write a brief description of your business and its purpose.
Create a mission statement.
Through research, Identify and describe your competitors.
Perform a SWOT analysis for your business.
Strengths
Weaknesses
Opportunities
Threats
NOTE: Include how you will leverage technology for this business.
In conclusion, how will careful planning and allow your business to be successful?
Assignment Criteria
Your report should be approximately 2 pages long.
Use APA style to create this assignment. You are not required to create an abstract.