Challenge 3: Back in Business!
Task 1
Begin brainstorming about what constitutes an effective company description and mission statement. Your company�s description should provide a brief overview of why the company exists, the names of the founders, and its location. Similarly, you want to ensure your mission statement creates a strong feeling of your business� strategy and not one that exists just because it should. It is always a good idea to review successful companies� descriptions and mission statements to get an idea about how they incorporate what they do for both their internal and external stakeholders�like customers, employees, owners, and local and global communities�into their written mission.
Action Items
Review Fortune 500 company descriptions and mission statements that are collected on the website https://www.missionstatements.com/fortune_500_mission_statements.html
Read the article on organizational sustainability strategies. Develop both a company description and mission statement for your business as you review the structures of the mission statement and description of the companies you review. Submit your company description and mission statement in one document to the deliverables section for feedback from your faculty mentor.
Task 2
You�ve developed an effective company description and mission statement. The next step is to develop the plan�s structure. The plan needs to be organized in a structured way through the inclusion of a cover page, table of contents, executive summary, company description, and of course, the mission statement. These extremely important introductory items must succinctly convey why your business exists and how it will benefit all stakeholders through its existence because it will set the reader�s first impression for your business. It should also provide the reader with a convenient directory of where all business plan elements can quickly be found. You will set off now to formulate all elements of the introductory material, except the executive summary, which you will create after all other parts of your business plan are completed.
Action Items
Complete and submit the template (company decription and mission statement) that helps organize your introductory business plan material, which includes the cover page, table of contents, company description, and mission statement.
Note: you do not need to complete the executive summary section at this time.
BUSINESS PLAN TEMPLATE
DATE:
Business Name:
Names of Owners:
Business Address:
Contact Numbers:
Business E-mail Address:
Table of Contents:
I. Executive Summary [Page #]
II. Company Description and Mission Statement [Page #
Executive Summary:
Company Description:
Mission Statement:
Sample Solution
