Final Paper Abby

Hi Abby - Nice work! You earned a grade of B (82%). You worked through the questions in this assignment in a meaningful way, with detailed support and thoughtful analysis. Please review my feedback below. OK . . . let's dig into your paper.

Good effort responding to the first question !!! You explained the company name, but you are missing why is it a good name for your company and what you sell or why the name was chosen. The company name is your brand and should be unique and easy to remember. It is very important to describe all sources of your revenue (what you sell and any variations) and what makes you unique. Clarity is key here. You must be convincing! If investors are not clear about your business, they will be less likely to invest.

Nice work with creating a mission statement for your business. What really impressed me the most, was your thorough support and rationale in explaining the components. The mission statement represents what your company stands for in the present. It also shows that you understand the focus of your company and you can articulate your objectives concisely. It is your opportunity to tell the world what your company stands and it determines the company's direction. This is also a reminder to all employees about what makes the company successful. It is a point of reference for keeping everyone clear on the direction of the organization.

You provided some good information about the industry in which you operate, but I like to see you dig deeper and focus on your specific area of operation as well and discuss the trends in more detail. Support all your statements with good research and data. Evaluating the industry increases your knowledge about the factors that contribute to your company's success and also shows potential investors that you understand the external business conditions in which your company operates. You will describe the industry, the trends, and identify any opportunities that exist within the industry. Identifying these trends is critical for the growth and survival of your business.

You must identify a strategic position from the textbook and provide a justification on why is this the best approach for your company and you also how you will implement it. Check out pages 146-147 in the textbook for more information on this topic. The strategic position allows you to establish a position in the market and clarify how you will compete or what sets you apart from other companies. To determine the best strategic position, you will evaluate your strengths and your interests and also what differentiates you from the competition. A clear strategic position influences every aspect of your business, such as the development of new products, marketing approaches, operations, and location. Your strategic position can evolve over time. When you find opportunities in the market, you will always have to identify a strategic position to distinguish your company from others.

Great work discussing the distribution approach. I just need a little more detail and explanation as to how the distribution approach you identified is the most appropriate for your company and what you sell. Provide more details on how you will reach the end users. Consider all distribution methods available and evaluate for the best fit. To increase the sales, you want to distribute the what you sell in the most effective way to reach the end-user, your target market. You want to be where your target market is.

You made some good observations in the SWOT matrix. Keep in mind that you want to provide enough details for anyone to understand what you mean. The SWOT items must be very specific to your business. You are missing a summary of the key learnings under the matrix, the key information that managers should consider as they make decisions. The SWOT is a way for the company to analyze what it can and cannot do and also to identify the opportunities and threats. The SWOT analysis determines what assists the firm in accomplishing its objectives, and what obstacles it must overcome or minimize to achieve desired results.

Great job with the format, organization, and grammar.