Instead of a mid-term exam, you will write a memo for a business you are forming

Instead of a mid-term exam, you will write a memo for a business you are forming or for one that currently exists, bringing in some of the elements of a business plan. For a new business, this memo is written as a document for a potential investor. If using an existing company, you will take on the consultant role. Therefore, your analysis should be new and not copied from the company website and materials. This assignment has two (2) parts – please make sure you break up your memo into these two sections.
Part 1: Provide a detailed description of the business (use terms and concepts from chapters 1-6).
What is the name of the business?
Where will it be located?
What type of business will it be (retailer, manufacturer, service business, etc.)?
What type of business ownership will it be (partnership, LLC, etc.)? Why was that selected?
What are the products and services, and what customer need(s) will it satisfy? Please be detailed here. Why will people buy the product or service?
What is the mission of the business? A mission statement communicates the purpose and principles of what you’re doing and why you’re doing it (see chapter 6). Make sure this is original. If you are using an existing company, do NOT copy their mission statement and think you are done. You need to review it and make some adjustments to show you are considering how the company should move forward. Please explain the change and why it was made. If you are creating a mission for your own business, make sure to provide the mission and why it was selected.
Part 2: Complete a SWOT (strengths, weaknesses, opportunities, threats) and TOWS to analyze the market and guide the business (see chapter 6).
– include at least two statements for each element of the SWOT. There should be enough included that the reader understands clearly why it is a strength, threat, etc. Five words or less is not enough. Things to remember: strengths and weaknesses are internal or something the company can control. Opportunities and threats are external and something the company cannot control but can use to help the business. Make sure you write your SWOT with these guidelines. Review the lecture for Chapter 6 for clarity.
– Once the SWOT is complete, look over the results and conduct a TOWS analysis by crossing strengths against opportunities (SO), strengths against threats (ST), weaknesses against opportunities (WO), and weaknesses against threats (WT) to get possible strategies for the company. Ensure each strategy is taken from what you have written in the SWOT.
– Lastly, pick at least one recommended strategy based on what you found. Include the reasoning for selecting this strategy and why it will help the company succeed. This should be a detailed explanation.
See below for an example of a SWOT/TOWS analysis from one done in one of my previous classes.
To do this assignment, you will need to read the textbook and research online to ensure that your business description and SWOT are accurate and based on real-world information. All references should be cited (APA or MLA) and use clear, concise, correct formatting, language, and writing. Do not find SWOT for an existing company and copy it. This will be considered plagiarism.
The submitted memo should address all the elements listed. Again, assume you are sending the document to the company CEO (if existing company) or potential investor (if you are starting a business). This means the writing should be concise and professional. The memo will be in more of an essay format than bullets. Click the following links for examples from previous semesters: Chipotle, Audi, Stenght in Generations, Electronics Arts. LOOK AT FILES EXAMPLES ARE THERE!!!
Please see the below video for an explanation of what is expected from this assignment, then refer to the rubric for grading elements. I grade directly from the rubric, so review the required elements to ensure you earn all possible points.
LOOK AT VIDEO!!!!!