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Write the mission and vision statement. Then write a narrative that describes the meaning of the mission and vision statement.
Mission & Vision Statement Guideline
• The mission and vision statements are a paragraph with bullets.
• The mission and vision statements include, but are not limited to the business’ corporate social responsibility, ethics, and sustainable business practices priorities.
• The narrative fully explains the meaning and purpose of the mission and vision statement.
• Two pages minimum.
Section 3: Business Description with Industry Analysis
Write a description of your business, including the items listed below.
Business Description Guideline
• Describe the type of business and legal structure (e.g., LLC, sole proprietorship) of the business.
• Provide a description of the product/service.
• Include the innovation the product/service brings to the marketplace.
• Discuss the distinctive core competencies of the business.
• Provide an overview of the location of the business.
• Discuss the demographics and psychographics of the target market.
• What is the problem/need the product/service solves or addresses?
• How will the product/service solve or address the customer’s needs?
• What are the features, advantages, and benefits of the product/service?
• Two pages minimum.
Industry Analysis Guideline
• Description of your business’ industry
• State of the industry
• History of the industry
• Size of the industry
• Industry evolution
• Failures in the industry
• The trend–where the industry is expected to be in five to ten years
• The key players in the industry
• Barriers to entry
• Market niche
• Competitive analysis
• Environmental scan
• Strategic positioning of your business
• Preliminary SWOT analysis (aka situation analysis)
• Other issues to include, if applicable:
• Copyrights, patents, & intellectual property rights
• Research & development activities
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