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Conceptualizing A Business Paper

Conceptualizing a Business: “Kandy Like Mama’s”
University of Phoenix- Integrated Business Topics BUS 475
Katie Moon
October 4, 2009

The small business I would like to start would be a candy store. “Kandy Like Mama’s”. This candy store will be unique in the fact that it will feature candies from the 40s, 50s, and 60s thus appealing to the baby boomer generation and with the fervent hope that they will introduce their kids and grandkids to the products that they had when they were growing up. The differentiation of this service is that the candies that will be sold in this store will be handmade and present a strong emphasis on the era of the baby boomer. The customers frequenting the store will be able to identify with the product/service being offered thereby developing a customer base that should enhance the potential for growth and also allowing the store to cater to not only within but also in the virtual marketplace. The mission statement will be derived from an accumulation of my vision, values, and the strategic direction of my business. This will drive the mission of the business and define the products/services thus attracting customers within this niche market. My mission statement will be “Candies you yearn for to sweeten the day”
Strategic Management is the groundwork for a company’s vision and allows a company to be ready to capitalize on opportunities. Strategic management is a process of evaluating a company’s mission, establishing the company’s design, developing the company’s organization and relationships, and guiding the company’s plan to execution to ensure that the management is consistent with the company’s strategy. “Strategic management is the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives.” (Pearce II & Robinson Jr., 2004). A strategy provides a framework for managerial decisions, reflecting a company’s awareness of how,...