Objectives:
Demonstrate understanding of basic management functions and decision making as it relates to your business idea.
Apply Chapter 6 readings to conduct a SWOT analysis of your business idea as it stands today.
The content for this week’s observation builds upon previous assignments:
- Your readings of Chapters 4, 5,& 6.
- Your responses to WO 1, WO 4
- Your responses on Concept Card about your business/products/services
Writing Prompt
Use the Weekly Observation document to prepare an essay. Your LivePlan executive summary will require a minimum of five milestones. Use the SWOT analysis of your company to prepare five milestones. Attach your paper.
Paragraph 1: Introduction of business idea that address the SWOT analysis in paragraphs 2 – 4.
Paragraph 2. Business / Idea Strengths
Paragraph 3: Business/ Idea Weaknesses
Paragraph 4: Threats to business/idea
Paragraph 5 : Re-iterate your introduction & conclude by prioritizing the managerial decisions(s) you need to make. Write the managerial decisions as milestones to address the SWOT analysis you prepared in paragraphs 2-4. For example if lack of marketing plan is a weakness, then the managerial decision would be to identify competent business coaches to assist with the marketing plan.
