An Entrepreneur's Model based Strategic Business Insights

By Anthony M. Wanjohi

Posted online: 2011

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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Citation

Wanjohi, A.M. (2011). An Entrepreneur's Model based Strategic Business Insights. KENPRO Online Papers Portal. Available online at www.kenpro.org/papers

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