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Conceptualizing A Business Essay

557 words - 3 pages

Conceptualizing a Business
Angela Vasquez
BSAH0WP1Q4
April 11, 2011
Brian Duhart

Conceptualizing a Business
The business that I am going to start will be a scrapbook store. Scrapbook Memories was created in 2010. Since I love scrapbooking so much I decided to start my own business. The inspiration, love and devotion for scrapbooking will give my customers a sense of comfort and relaxation when they are going through old and new photos and creating wonderful memories that will last a lifetime. I enjoy it so much that I have cases full of scrapbook materials that I use to create the scrapbooks. I have done everything from a baby album to a wedding album.
Mission Statement
Scrapbook Memories will provide exceptional customer service and provide scrapbooking supplies at reasonable prices while gaining customer confidence and trust.
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Strategic Direction
An advantage of having a mission, vision and values statement is that it will create an opportunity, direction and value for our customers, stakeholders and employees. Scrapbook Memories mission, vision and values statement will provide a course of action so the company can achieve and meet their goals.
Competitive Advantages
Scrapbook Memories is a company that is just starting out in Southern California. Since the company only has one location at this time, customers can make use of our online services to purchase the products that they will need to start their scrapbooks. Once business starts picking up, I will possibly start looking at opening up other stores throughout Southern California. An advantage that can make Scrapbook Memories competitive in the area is that it will provide competitive prices, products and services to all of its clients. There are many scrapbook companies out there that are competing against each other and by Scrapbook Memories offering low prices may help the business that much more.
In conclusion, scrapbooking is a wonderful hobby and it seems like more and more people are doing it. Taking pictures of a special family occasion or a family vacation holds many memories. Putting these pictures into scrapbooks will create many family memories that can easily be passed down to other family members to have as keepsakes. What is more precious than opening up a scrapbook and seeing pictures of kids growing up? Now that’s priceless. In order for Scrapbook Memories to stay afloat, the company will have to implement a strategic plan so that they can compete with other scrapbook companies that are out there.

References
Pearce, J.A. II & Robinson, R.B. (2009). Strategic management: Formulation, implementation, and control (11th ed.). New York: McGraw-Hill
Thompson, A.A., Gamble, J.E., & Strickland, A.J. (2006). Strategy: Winning in the marketplace: Core concepts, analytical tools, cases (2nd ed.). New York: McGraw-Hill

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