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Please write a detailed business idea in 1 hour.. Entrepreneurship subject see these pics and write.. Write a idea about new company

Slide 5 of 23 Strategic Management Process Step 1: Identifying the organization's current mission, objectives, and strategies Mission: the statement of the purpose (firm's reason for being) The scope of its products and services - Goals: the foundation for further planning Measurable performance targets Step 2: Conducting an external analysis The environmental scanning of specific and general environments Focuses on identifying opportunities and threats . 86 Components of a Mission Statement a . Customers: Who are the organization's customers? Products or services: What are the organization's major products or services? Markets: Where does the organization compete geographically? Technology: How technologically current is the organization? Concern for survival growth, and profitability: Is the organization committed to growth and financial stability? Philosophy: What are the organization's basic beliefs, values, aspirations, and ethical priorities? Self-concept: What is the organization's major competitive advantage and core competencies? Concern for public image: How responsive is the organization to societal and environmental concerns? Concern for employees: Does the organization consider employees a valuable asset? . . Exhibit 8.2 Source: Based on F. David, Strategic Management, 8th ed. (Upper Saddle River, NJ: Prentice Hall, 2001), pp. 65-66. 8-7 Strategic Management Pro Slide 7 of 23 (cont'd) Step 3: Conducting an internal analysis Assessing organizational resources, capabilities, activities, and culture: Strengths (core competencies) create value for the customer and strengthen the competitive position of the firm. Weaknesses (things done poorly or not at all) can place the firm at a competitive disadvantage. . Steps 2 and 3 combined are called a SWOT analysis. (Strengths, Weaknesses, Opportunities, and Threats) 8-8 Strategic Management Process (cont'd) . Step 4: Formulating strategies - Develop and evaluate strategic alternatives - Select appropriate strategies for all levels in the organization that provide relative advantage over competitors - Match organizational strengths to environmental opportunities Correct weaknesses and guard against threats 8-9 . Strategic Management Process (cont'd) Step 5: Implementing strategies - Implementation: effectively fitting organizational structure and activities to the environment The environment dictates the chosen strategy; effective strategy implementation requires an organizational structure matched to its requirements. Step 6: Evaluating Results - How effective have strategies been? - What adjustments, if any, are necessary? . 8-10 The Strategic Management Process External Analysis Opportunities Threats Identify the organization's current mission, goals, and strategies SWOT Analysis Formulate Strategies Implement Strategies Evaluate Results Internal Analysis Strengths Weaknesses

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