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Strategic
direction
As a business
entrepreneur, one needs to come up with a strategic direction in terms
of the following:
Mission:
Entails the purpose of the business, why it exists and who it serves.
Vision:
what will indicate that the business is successful.
Values:
Pertains what the enterprise wants the customers to think of the
business
Business Process
Model
Business process
model is based in the following processes:
Developing
Products and Services: A process by which
an entrepreneur develops new products. This could be attained by
performing a market analysis to determine what the customers want and
value.
Generate
Demand: a process by which the business
shows the prospective clients that they need the products and services
that the business provides.
Fulfill
Demand: a process by which the business
actually delivers the products and services that the customers demand
from the business.
Manage the
Enterprise: processes by which to run the
internal workings of the operation such as hiring, firing, accounting,
taxes, ensuring there is a proper insurance coverage, ensuring that
the business operations are complying to applicable laws etc.
Organization
Model
An entrepreneur
should have an organization model which takes into account each
person’s job descriptions, roles and responsibilities.
Technological Model
In an age
characterized by technological development, an entrepreneur need to
consider the software and hardware required to run a business.
Physical Configuration
An entrepreneur
should also make physical considerations for the business. For
example, a business may need to rent retail space. If an office,
whether there is need for cubicles.
It is out of
insights that certain wishes are born. Some of these business insights
may not be attained within the entrepreneurs’ timeframe. However, they
are vital in building a world for a better promising tomorrow.
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