EMGT5130_CH3 - EMGT5130 New Business Development CHAPTER 3....

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New Business Development EMGT5130 Young Jeong   CHAPTER 3. Vision and the Business Model
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Create a vision (after Opportunity) Write a mission statement State the value proposition Create the business model Describe the core competencies and the competitive advantage Act to make the competitive advantage sustainable Figure 3.1 Create a business theory of a new venture.
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TABLE 3.1 Elements of a vision. Clarify : Easily understood, focused. Consistency : Holds constant over a time period, but is adjustable as conditions warrant. Uniqueness : Special to this organization Purposeful : Provides reason for being vision statement  is an informed and forward  looking statement of  purpose  that defined the  long-term destiny of the firm . The statement of  insight, intention ambition and purpose.
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Intel we constantly push the boundaries of innovation in order to make people's lives more exciting, more fulfilling, and easier to manage. Our unwavering commitment to moving technology forward h as transformed the world by leaps and bounds. Google develop 'The Perfect Search Engine'. Toyota 'To sustain profitable growth by providing the best customer experience and dealer support'. Proctor & Gamble (P&G) vision is to provide branded products and services of superior quality and value that improve the lives of the world's consumers. Microsofts empowering people through great software any time, any place and on any device Examples of Vision statements
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Table 3.3 Possible elements of a mission statement Core Values Competitive advantage Customers and/or stakeholders Values provided to customer Products Markets or industry mission statement  is a description of the  course of  action to implement the vision . More completely describes the  company’s goals   and  customers
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Table 3.4 Mission statement of eBay We help people trade practically anything on earth. eBay was founded with the belief that people are basically good. We believe that each of our customers, whether a buyer or a seller, is an individual who deserves to be treated with respect. We will continue to enhance the
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EMGT5130_CH3 - EMGT5130 New Business Development CHAPTER 3....

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