The Entrepreneurial Mindset and the Business Plan

Part 1.- within 100 words minimum answer the following questions

Ensure your response is substantive. Respond viewpoint with substantive replies

1.- Define entrepreneurship, and determine entrepreneurial objectives.

2.- How a mission statement, strategy, and list of competitive advantages for a business.

3.- Explain: key strategic management processes and business plan components.

4.- Read (Entrepreneurship: The Art, Science, and Process for Success, Ch. 1) and explain.

5.- Read (Entrepreneurship: The Art, Science, and Process for Success, Ch. 5) and explain.

Strategic Management

6.-How is the strategic management process (as seen in the Week One Strategic Management Worksheet assignment) utilized at your business ( Electrical Contractor Company ) and one with which you are familiar ( Data Centers )?

7-How successful is this process?

8. What benefits did it bring?

Entrepreneur Traits

9.- Given the videos and reading in this Week, do you feel you have the traits needed to become a successful entrepreneur?

10.-What traits do you feel that make an entrepreneur a success?

· Channel 4 Learning (2005). Getting Started as an Entrepreneur (03:09) [Video file]. Films on Demand.

· VEA (2011). Are You Ready to Be Enterprising? (03:55) [Video file]. Films on Demand.

· VEA (2011). Entrepreneur (05:45) [Video file]. Films on Demand.

Part 2.- Entrepreneur vs. Intrapreneur Analysis

Research “Entrepreneur” and “Intrapreneur” on the Internet.

Discuss the following in 175 to 350 words:

· What does entrepreneurship mean to you? How does an Intrapreneur differ from an Entrepreneur?

· Are the chances of success for a small business dependent on the entrepreneur’s personality?

· What are some basic competencies that an entrepreneur needs to operate a successful business? Provide examples to support your answer.

Format your response according to APA guidelines.

Part 3.- Complete the Strategic Management Worksheet. See attachment. (The Proposed Company will be an Electrical Contractor Company)

Part 4.-

Introduction to a Business Plan

Throughout this course and the next several Small Business and Entrepreneurship courses, you will be researching, planning, and developing various components of a business plan. Your goal in these first few courses is not to develop a fully-functional business plan, but rather to learn about different types of business structures, business plan components, funding and financial requirements, operational processes, marketing and sales strategies, business analytics, potential issues, contingency plans, and other considerations relevant to running a successful business. Once you have a better understanding of everything that goes into creating a successful business plan, including what can go right or wrong within each area, you will be much better prepared to develop your own business plan. So please keep in mind that you will be able to revise and expand upon your work as you proceed with the development of your business plan.

For this assignment, you will be drafting a brief overview for a fictional company.

Research “Business Plan Components” and “Sample Business Plans” on the Internet, as well as relevant topics that can help you to cultivate new business ideas. (The Proposed Company will be an Electrical Contractor Company)

Write a brief description of your proposed company in 350 to 525 words. Your description should include the following:

· The company name and history

· Mission

· The product(s) or service(s) that you will offer

· Opportunity (i.e. the specific problem that your product/service will solve)

· Your overall business strategy

· Your market

· Your competitive advantages

Refer to your Strategic Management Worksheet assignment for additional details. You can use this worksheet to capture basic information that will help guide you through the business plan development process. Don’t worry about getting too specific in any particular area, since you will be revisiting this overview to provide more detailed information as you complete additional sections of your business plan.


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