Assignment: Strategic Business Planning (Part 1)

Tennessee Strong Box Unit 4 Assignment Notes

· Find a professional strategic business plan template to develop a startup strategy for your virtual business. (Sent in the email)

· Identify and recommend two additional professionals to represent your virtual team on the board of directors for your virtual business. (Who wants this one)

· I had nominated adding my brother (CEO of an Amazon Logistics Company)

· Andrew Eyerman

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· Propose the U.S. state and legal structure of business (sole proprietor, partnership, LLC, etc.) to register your virtual business. (LLC – State is done)

· Explain why your team chose such a legal structure and the tax and operational implications pertaining to your chosen state and the Internal Revenue Service.

· Determine if a business license is needed and gather necessary information.

· Identify and collect the information needed to fill out state and federal forms. Make necessary business decisions to fill out the forms.

· Develop a name brand, tagline, and logo for your virtual business. (Done)

· Conduct analyses on the industry and markets of your virtual business to inform your business strategy.

· Describe the problem your virtual business aims to solve. Using research, explain why the problem exists and how your virtual business will work to solve the problem.

· Develop an inspirational vision statement for your virtual business.

· Develop a mission statement that aligns with your vision statement for your virtual business.

· Develop a set of values and create a statement describing the ethical approach to support your values for your virtual business.

· Explain how your company values will drive management and leadership decision-making in your virtual business.

· Develop a philosophy statement that defines the identity and culture of your virtual business.

· Set goals for your virtual business.

· Set business objectives for each virtual team member.