Conceptualizing a Business Essay

Submitted By rebeArmstrong
Words: 1638
Pages: 7

Conceptualizing a Business
Rebekah Armstrong
March 24, 2014
Hector R. Perez

Conceptualizing a Business Wooden Wonders is an online company that desires to product personalized picture art with multiple uses. With the design of a new business also come the tasks of developing a mission statement, vision of the business, and core values determined by the management team of Wooden Wonders. Through use of the core values, guiding principles are also developed to assist in the daily operations of the business.
Definition of Business, Products, and Customers The business plan is to develop an online company that produces personalized picture art on custom designed wooden pallets. Some versions of these pallets will incorporate hangers for customers to use as wall hanging coat rack. Others will incorporate mirrors for the quick look before heading out the door or small storage shelves for displaying trinkets. The customer base can range from young to old, traditional to non-traditional. If a design is submitted providing the machinery used has the ability to complete the project, the company will gladly service the customer. Each basic design of the frame will be re-enforced
Definition of Formal Mission Statement
The mission statement spells out the underlying motivation for being in business in the first place - the contribution to society that the firm aspires to make (Azaddin, 2009, para. 5).
Mission Statement
·Industry: Online Service Industry --- Specialization: Custom Designed Picture Art
·Product: Custom Designed Picture Art
·Service: None.
·Customers: A wide range of ages, traditional and non-traditional customers looking for customer designed picture art.
The mission statement of Wooden Wonders will guide the overall purpose of the company, in terms of what products and services it will offer, who will be the target customers, and how and why Wooden Wonders will do it. Wooden Wonders will continuously update its mission statement so as to track its progress, remain dynamic to serve customer needs, and be proactive to tackle competitor’s moves.
Mission Statement: To develop an ongoing channel that will ensure customers can watch their idea of art come alive through professional work. The online picture art design studio will provide interactive, cost-effective, and productive customer products which will incorporate customer requests into the finished product.
Vision of Business Wooden Wonders mission statement will help to motivate the employees to make use of opportunities available in the online and ecommerce markets. The convincing vision statement will help employees to feel proud about the ways in which Wooden Wonders is bringing out collective art work with a personal touch for its customers.
Vision Statement: To provide customers with the opportunity to personalize their vision into a master piece they will love to display for years to come.
Core Values Wooden Wonders strives for customer satisfaction through core values such as quality, respect, accountability, integrity, openness, and balance. Employees of Wooden Wonders are required to promote and follow the 6 core values established by the company within daily operations. By using these core values daily, they become Wooden Wonders core competencies. According to Schultz (2009), “Core competencies are the business strengths that set a company apart from its competitors. They're the reason that clients choose one company over another”.
Wooden Wonders strives to exceed customers’ needs and expectations through competence, innovation, and teamwork by proactively exploring policy and product opportunities to better serve customers. Ensuring each handcrafted wooden pallet design is done correctly the first time Wooden Wonders does not promote quick timing on projects, but instead insists on promoting the quality of the work itself.
Wooden Wonders