You must also explain the significance of the company name: what it means, why you chose this name, and why you think it is a good name for your business.
What is the significance of the Eagle in the company name?
Why is this the best name for your company?
The mission statement should clarify what you do, what makes you unique, and your core values and/ or purpose.
1. The mission statement should tell the employees, vendors and other stakeholders what makes your company unique, your core values, and the purpose of your company. The sentence after the current mission statement is a good start on a mission statement. “To fly deliciousness around the world” is a good marketing slogan. Save it for the marketing portion of the business plan.
Use the Trader Joe’s example provided in the discussion (see second post- to help with this week’s discussion) to help you shape your mission.
REMINDER
Per the guidelines, you must start your business in October 2021.
You must reach sales of over 1 million by the end of the second year.
You will be operating in the US, in an area of 100 miles radius from your home address.
You must have employees and raise money from investors to expand your business.
You can proceed with this company but make sure you follow the requirements posted in the guidelines document
Choose a business you’d like to use for your future course assignments. Throughout this course, you will develop assignments that you will later combine into a complete business plan for your chosen company. That final assignment is due in Week 10.
You have a choice between writing a business plan for:
A snack food company.
A startup company of your choice (instructor approval required).
Read the guidelines for each option. Once you select an option, you will work on that company during this entire course.
Snack Food Company Guidelines [PDF].
Company of Your Choice Guidelines [PDF].
All discussions and assignments in this class will focus on the company you select here.
Your faculty member will approve your selection in a reply to this discussion post.
This Week’s Discussion Post
For this week’s discussion, please respond to the following:
Create your company name and explain its significance.
Describe the product or service you will produce or sell.
If you are focusing on the snack food company, clarify the key ingredients and any flavors you plan to offer.
If you choose your own company, and it is a service company, clarify the service options you plan to offer.
If you choose your own company and product, specify the options (flavors, versions of the product, et cetera) you will offer to consumers.
Develop your company’s mission statement.
Enclose your mission statement within quotation marks.
Reminder: After submitting your post, watch for your faculty member’s approval in a reply to your post. You must have this approval to proceed.
Post at least one substantive comment to another student’s post.
Notes
Use headings for each section of this posting.
Textbook Chapter 5, “Company Description,” pages 67–86, provides additional detail about this topic.
You will revise this week’s discussion posting as part of your Week 3 assignment, Company Description and SWOT Matrix.
Important:
You must create your own FOR-PROFIT organization (startup).
It should be a company with a start date of October 2021.
Clarify what you are selling (product or service).
Albanian Eagle Burek
Albanian Eagle Burek is a snack company which takes the traditional Albanian food of the burek – a tasty pastry pie with various fillings – and introduces it beyond its traditional Balkan market. The name reflects the origins behind the burek’s popularity, as Albanian bakeries and fast-food vendors offer the snack throughout South-eastern Europe.
2. PRODUCT DESCRIPTION
The burek is a traditional snack staple in many locations in South-eastern Europe, as well is some parts of the near Middle East, such as Turkey. It is a pastry pie that is made with a paper-thin dough, and filo dough is often the preferred choice of burek producers. The burek is then filled with various ingredients such as minced meat, cheese or even pizza toppings, such as cheese, tomato sauce and ham.
Albanian Eagle Burek will offer four flavors of the burek to the market made of meticulously baked filo dough in traditional ovens and filled with the freshest eco-friendly ingredients:
The minced meat burek: the filo dough pastry pie is filled with succulently cooked minced meat
The cheese burek: the filo dough pastry pie is filled with a delicious cottage cheese
The cheeseburger burek: the filo dough pastry pie is filled with minced meat and cottage cheese
The pizza burek: the filo dough pastry pie is filled with cheese, tomato sauce and ham
Albanian Eagle Burek mission statement:
“To fly deliciousness around the world”
Despite its popularity as a snack throughout the Balkan region, the burek remains largely unknown in the rest of the world. Albanian Eagle Burek aims to introduce the world to what South-Eastern Europe already knows: there is no better snack than the burek, and Albanian Eagle Burek aims to fly deliciousness around the world.
PART TWO: WEEK 2 DISCUSSION QUESTION. Response to may classmate post.
For this week’s discussion, please respond to the following:
Complete the SWOT Matrix [DOCX] to highlight the strengths, weaknesses, opportunities, and threats of the company (as approved by the instructor) you described in the Week 1 discussion.
Your selected company may be a startup company of your choosing, or it may be based on the snack food company scenario provided to you.
Include four items in each category.
As you complete each quadrant of the SWOT Matrix, consider these questions:
Strengths.
What are your selected company’s likely strengths?
Is your product or service in a growing industry and does it lack an entrenched competitor?
Are you in a niche market with great potential?
What strengths do you and other team members bring to the company?
Weaknesses.
What are your chosen company’s likely weaknesses?
How entrenched is the competition in your industry segment?
Is your management team inexperienced?
How challenging will it be to produce the product or offer the service and maintain quality?
Opportunities.
What are your company’s opportunities?
Does your segment have more demand than supply?
Have larger corporations stopped serving smaller or niche markets that you could enter?
Is a new market emerging because of demographics, immigration, changing tastes, et cetera?
Threats.
What are your company’s threats?
Does a clear market leader exist that will be hard and expensive to displace?
Are downward-pricing pressures in the segment making profit margins slim?
Are there few or no barriers to entry for new competitors?
Include your company name and a brief description of what business you are in, as well as the product(s) and service(s) you offer for sale. (no more than 3-4 sentences).
