Strategic Plan, Part 1 Conceptualizing a Business
Strategic Plan, Part I: Conceptualizing a Business
Strategic Plan, Part I: Conceptualizing a Business
Entrepreneurship is awe-inspiring. It brings the creativity and passion into becoming a profitable organization. There are entrepreneurs who did not dream of their one idea growing to an enormous corporate organization. Then there are some who strive and work hard that become nothing more than a small family owned business. Developing and building a business does not manifest only on great ideas to make a profit but also needs strategy on how to continue growing and to sustain profitability. It is important for organizations to develop a mission statement with a vision and values of its organization to guide the members in the right direction. Although they may sound one in the same, a mission and a vision statement are entirely different. “The company mission describes the company’s product, market, and technological areas of emphasis in a way that reflects the values and priorities of the strategic decision makers” (John A. Pearce, 2009). These goals of the organization lay out the path for the organization’s members, to remind them of their purpose in the market. “A company vision articulates what you want for your business – what it will look like in the future. A vision is idealistic – how big the company grow, how it will be perceived by the outside world.” (Rooney, 2006) Exotics Racing school is a company owned by five time French race car champion Romain Thievin. Originally from France, Romain and his team opened his first racing school in France called Cascadevents. In 2009 Romain opened Exotics Racing in Las Vegas, Nevada. Exotics Racing school is a place where you can have your dreams of driving your dream car a reality, taking it to high speeds on a 1.4 mile, 11 point turn race track. Students will choose from a large fleet of 18 super cars which consists of Ferrari, Lamborghini, Porsche, Audi, Aston Martin, Mercedes,
Strategic Plan, Part I: Conceptualizing a Business
Entrepreneurship is awe-inspiring. It brings the creativity and passion into becoming a profitable organization. There are entrepreneurs who did not dream of their one idea growing to an enormous corporate organization. Then there are some who strive and work hard that become nothing more than a small family owned business. Developing and building a business does not manifest only on great ideas to make a profit but also needs strategy on how to continue growing and to sustain profitability. It is important for organizations to develop a mission statement with a vision and values of its organization to guide the members in the right direction. Although they may sound one in the same, a mission and a vision statement are entirely different. “The company mission describes the company’s product, market, and technological areas of emphasis in a way that reflects the values and priorities of the strategic decision makers” (John A. Pearce, 2009). These goals of the organization lay out the path for the organization’s members, to remind them of their purpose in the market. “A company vision articulates what you want for your business – what it will look like in the future. A vision is idealistic – how big the company grow, how it will be perceived by the outside world.” (Rooney, 2006) Exotics Racing school is a company owned by five time French race car champion Romain Thievin. Originally from France, Romain and his team opened his first racing school in France called Cascadevents. In 2009 Romain opened Exotics Racing in Las Vegas, Nevada. Exotics Racing school is a place where you can have your dreams of driving your dream car a reality, taking it to high speeds on a 1.4 mile, 11 point turn race track. Students will choose from a large fleet of 18 super cars which consists of Ferrari, Lamborghini, Porsche, Audi, Aston Martin, Mercedes,
References: John A. Pearce, R. B. (2009). Strategic Managment. Formulation, Implementation and Control 11th Edition. New York: McGraw-Hill Companies. Rooney, R. (2006, July 13). Create the vision that your company needs. Retrieved from IndUS Business Journal: http://www.indusbusinessjournal.com/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=B78406E8E9B44E2AADA00370B0539AC1&AudID=EEB7C7075C2E462F969310BCC0CAA619