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studen - Page 1 of 3 Week 3 Vision and the Business Model...

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Week 3 Vision and the Business Model Week 3 Overview During this week, we will study: The Vision, The Statement, The Value Proposition, The Business Model, Core Competencies and Competitive Advantages (ch3). Objectives After finishing this chapter, students will be able to Develop vision, mission statements, value proposition and business model for the technology venture Analyze the competitive advantages and the business model from existing business organizations Introduction The theory of a business is a description of the elements required for the entrepreneur to act to build a business that satisfies the customers' needs. Completed with the firm's core competencies and resources, the firm uses the elements of its business design to build a sustainable competitive advantage. The elements of a firm's theory of its business include: vision, mission, value proposition, business model, competitive advantage, and how it acts to retain a sustainable competitive advantage. Great vision is a statement of purpose in response to an opportunity The mission describes the firm's goals
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