...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Karon Kanadjian Bus/475 June 24, 2014 Kathleen Kemmer Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business This paper will explain the strategic plan for Newmont Mining Corporation’s newest venture, while defining the vision, mission, and goals of this Corporation and how it will interlink. It will state the company’s values and will offer strategic direction while considering the culture, social responsibility, and ethics. It will show how the mission statement along with the vision and values will help the company to achieve success in its new venture of promoting gold in a new format, and how it will guide the strategic direction of the company. It will address the needs of the public and global economies and how the company will offer a competitive advantage over all other companies in this industry. Company History Newmont Mining Corporation is an exploration, refining, and marketing company of gold and copper. They operate in the US, Australia, Peru, Indonesia, Ghana, New Zealand, and Mexico. As of December 31, 2013 , Newmont employed 15,085 people with its headquarters in Denver, Colorado. For the year ended in December 2013, they recorded revenues of $8,322 million. They are considered to be one of the largest producers of gold in the world (“Newmont”, 2014). Vision ...
Words: 1968 - Pages: 8
...•Ch. 10: Questions 1, 7, 8, & 19; Question 1: Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain. * That is correct. Otherwise (if over a year) it would be a long term liability. Question 7: (a) What are long-term liabilities? Give two examples. * Debts that must be paid for a period in excess of a year. Long term note payable; mortgage (b) What is a bond? * A bond is a form of debt Question 8: Contrast these types of bonds: (a) Secured and unsecured. * A secured bond has a claim on something (revenue or property) unsecured has no claim and is just the credit of the person repaying. (b) Convertible and callable. * Convertible means that the bond can be exchanged for common stock. * Callable means it can be taken by the person issuing it at certain times for a certain price. If the holder can hold it to maturity is not callable. Question 19: Valentin Zukovsky says that liquidity and solvency are the same thing. Is he correct? If not, how do they differ? * They are different - Liquidity and solvency are dashboard signs of your financial health. The former, also known as cash flow, measures your ability to pay monthly bills and meet emergencies that require cash. Solvency refers to net worth, which is how much you have left to call your own if you pay off your debts. Brief Exercise BE10-1; BE10-1 Kananga Company has these obligations...
Words: 878 - Pages: 4
...Professional Selling In order for a company to get off the ground, much of the time they need to sell the product through different promotional strategies. This could be through advertising or door to door sales, whatever the company feels will help sell their product. Pet Buddy is in this exact situation now as they are in the introduction phase. They are trying to get off the ground anyway they can, and in order to do so, they must get out and use professional selling. In business they usually say, “Nothing happens until someone sells something”, this could not be any truer ("Professional Selling", n.d.). The company cannot continue to pay their payroll and spend on research and development if the product is not selling. The company just needs to decide how they will sell their product. Different Promotional Strategies The Pet Buddy Company has decided to go through a few different promotional selling strategies in order to get their feet off the ground. They will use minimal advertising at first because they will need the funds in order to advertise as advertising can be fairly expensive. This is why it is important to find the right person to get cheaper advertising through newspapers and flyers, but get the “bang for their buck” they are looking for as well. They will use also use digital marketing and the same applies to digital marketing as does it to advertising. The real selling happens in the other strategies including; sales promotions, direct...
Words: 3061 - Pages: 13
...Business Model and Strategic Plan Part I: The Shooting Gallery Wayne Niswander BUS/475 September 4, 2014 Shannon Mathis-Roberts Business Model and Strategic Plan Part I: The Shooting Gallery Within the city limits of Temecula and Murrieta California, there are six businesses that sell firearms and ammunition. However, there are very few locations nearby for people to go and shoot. For this project, the writer will discuss a business proposal for a shooting range that will be located within close proximity to Temecula and Murrieta. Some of the topics to be discussed are the company’s mission and vision and how they relate to the overall strategic objectives of the company. The Shooting Gallery will be an indoor shooting range within the city limits located in the commercial district in the far western end of the city away from any residential areas. The company hopes to draw customers from Moreno Valley to Lake Elsinore to Escondido. Mission and Vision Mission Statement The premise for “The Shooting Gallery” is to create a place for customers to patronize for the purpose using their firearms. The mission of the Shooting Gallery is to provide the firearms enthusiast a safe and inviting environment in which they can enjoy the sport of shooting. For gun owners in the immediate area there are not many locations at all to go and shoot. There is a shooting club in eastern Murrieta that requires membership and another range just south of Temecula in the Rainbow...
Words: 1003 - Pages: 5
...Business Model and Strategic Plan Part I: Conceptualizing a New Product of an Existing Business Stephanie Crossman BUS/475 12/11/15 Darrell Costello Table of Contents I. Title Page II. Table of Contents III. Executive Summary IV. Business Model and Strategic Plan Part I: * Conceptualizing a New Product of an Existing Business V. Conclusion VI. Reference Page * * * * * * * * * * * * * * * * * Executive Summary * This report is providing information on the future of profitability of SanDisk in regards to a new product launch. SanDisk is proud to announce our new product launch and partnership with Sony Electronics. Their latest and greatest 4K Televisions will now also be equipped with a built-in SanDisk Memory Card. The memory card will be accessed through the record button on the remote control. This new launch and partnership is going to change not only our industry, but the cable and satellite industry as well. Our innovation will replace the need for a DVR. * * New Product Mission Statement * The new Built-in Memory Cards endeavor of SanDisk and Sony is a very innovative division for both our companies. It is initialling going to be geared toward enhancing the viewers home entertainment experience. As time passes, we will be able to build on the consumers’ experience by combining more features to make this product compatible...
Words: 921 - Pages: 4
...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Nikki Dockery BUS475 – Integrated Business Topics December 1, 2014 Dr. Sarita Wesley Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Innovation is evolution within the business world, without it all businesses would stay at a standstill. In order for a business to go anywhere, they need to evolve and grow with the companies around them in which they may compete, as well as with their customers. If a business does not grow with their customers, then those customers will find a business that is better for them. Within the confectioner’s world, there are very few that cater 100% to their customers’ needs or wants. In my surrounding area many individuals can only buy their cakes, cupcakes, cookies, chocolates, etc., from the grocery store. Limiting personalization for those wanting specific pieces. None of these locations provide any type of “treats” that specify to the 21 and older crowd. As a home baker (starting off with baby steps) experimenting with flavors and liquor has peeked some interest with potential clients. There are no other locations that they can go to get their favorite cake flavor and have it infused with their favorite liquor. Business, Product, and Customers: Mission Statement. According to Pearce and Robinson (2009), the mission of a company is the unique purpose that...
Words: 841 - Pages: 4
...BUSINESS MODEL and STRATEGIC PLAN PART I BUS/475 January 12, 2015 BUSINESS MODEL and STRATEGIC PLAN PART I When conceptualizing a new product line of compact track loaders for Terex Corporation it is necessary to develop a strategic plan to meet the needs of the consumer and a innovative mission statement, vision, inline with Terex Corporation’s values. This will assist Terex Corporation to achieve success in its new venture. The division to manage this new product line will be customer-focused, adhering to an innovative mission statement reaching to attain the company’s vision. It will address the customer needs; therefore, achieving a competitive advantage. Terex Corporation Terex Corporation is a lifting and material handling solutions company diversified in five categories: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing. The company manufactures a wide range of equipment serving customers in various industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying, and mining industries. The new product line of compact track loaders is being integrated into Terex from its most recent merger with Manitex. Terex Corporation mission statement is “To provide solutions to our Machinery and Industrial Product customers that yield superior productivity and return on investment.” Its vision is: • Customer-to be the most customer...
Words: 1117 - Pages: 5
...Business Model and Strategic Plan Part I: Conceptualizing in Business Victoria N Wilbert BUS 475 December 1, 2014 Ryan Simpson Business Model and Strategic Plan Part I: Conceptualizing in Business Innovation is a money and time saver that will help an organization achieve a competitive advantage to grow and adapt in the marketplace. Innovation refers to implementing new ideas, creating dynamic products, and improving existing services. Businesses that innovate create more efficient work processes and have better productivity and performance. Innovation is the key to competitive advantage for a successful organization. Best Buy’s New Division and Product Innovation requires new ideas. Best Buy is constantly thinking of ways to keep its customers happy. Best Buy is now reaching out to the customers who want to give back to their community. Best Buy is creating a new division called Best Giving. This division's focus will be on helping others in local communities. The mission statement of Best Giving is “To give peace, hope, and help to local communities through the generosity of our loyal customers”. As part of Best Buy’s undefined mission statement “… a growth company focused on better solving the unmet needs of our customers…” (Strategic Management Insight, 2013), Best Giving is meeting customer needs by altering the rewards card program. The card will now allow customers to give back their earned rewards to a charity of their choice. Customers can choose what percentage...
Words: 1410 - Pages: 6
...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Giovanni Anselmo BUS/475 June 29, 2015 Sarita Wesley Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Aura Cacia is a leader in aromatherapy sales and quality, as well as a key source of expert information that has fueled the widespread awareness of aromatherapy that can be seen today. Aura Cacia prides itself in sourcing authentic, high-quality essential oils and dealing face-to-face with the people growing the plants and extracting the essential oil whenever it is feasible. Aura Cacia frequently makes trips to visit its suppliers and processors to demonstrate their commitment to finding the best sources for their oils. Aura Cacia carries products for aromatherapy such as essential oils, perfumes, to skin care oils, body butters, aromatherapy mists, scent stones, candle lamp and eye pillows as well as bath and a massage products. ("Aura Cacia", 2014). Aura Cacia's Mission Statement Aura Cacia's mission statement is to make aromatherapy easy by offering an extensive selection of high-quality essential oils and aromatherapy products for all ages and spaces ("Aura Cacia", 2014). Aura Cacia is dedicated to serving a variety of customers encompassing a variety cultures, ethnicities, and religions all with the common goal of achieving relaxation, stress relief, balance, purity of mind and body...
Words: 1541 - Pages: 7
...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business BUS/475 February 9th, 2015 Table of Contents Introduction …………………………………………………………………….... 3 V-Gym analysis…..………………………………………………………………. 3 V-Gym’s mission statement and vision ………………………………………….. 4 Values and guiding principles..,………………………………………….………. 5 Organization’s strategic direction and aims …………………………..…………. 6 Customers need satisfaction and Achievement of Competitive Advantage……… 6 Conclusion………...………………………………………………………………. 7 References………...………………………………………………………………. 9 Introduction A Strategic plan is fundamental to conceptualizing and building up new business that existed for success. Mission, vision, and value statements are crucial factors that take a place as guiding and controlling standards for a business's strategic initiatives. This paper is Part 1 of my strategic plan descriptive analysis of mission and vision of V-Gym, and how all these statements will help V-Gym to separate itself from its rivals. In addition to that, the paper likewise discuss V-Gym's values, which are represented by its vision and mission statements, and how these values guide the organization's strategic directions, which thus will help the organization to fulfill its stakeholders, expand productivity, and separate itself from its rivals. V-Gym Analysis My business plan is focusing...
Words: 1583 - Pages: 7
...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Mission Statement Plains Exploration & Production Company (PXP) is building a way to the future with innovation that sets new standards for the Oil Drilling and Gas Extraction Industry. Business Proposal “The world isn’t running out of oil and natural gas. It is running out of easy oil and gas,” Leber, (2012). The technology used to recover oil and natural gas from wells has not changed in the past decade. Our business model for this new division will guide PXP into the future by incorporating digital oil field technology to our existing sites both on land and water. Consumers will benefit by lower prices at the pumps, lower airfare for travel and the transportation costs for products will be reduced, making product prices lower. Offshore oil is much more expensive to extract than onshore oil. “Using traditional techniques, onshore wells can be drilled to 8000 meters compared to 5000 meters, 50 years ago. Offshore wells can be drilled in water to only 1000 meters,” (IBIS World Industry Report, 2014, p. 30). Lately, economical advantages mean the use of fracking has been reemployed over the last five years, even though it has been selectively used since the 1940’s. Using the digital oil fields will streamline production for maximum efficiency. The technological advances will cut costs as PXP maximizes response time at the mining sites. PXP could, according...
Words: 1915 - Pages: 8
...LONDON CHURCHILL COLLEGE AABPS Level 6 Diploma in Business Management Studies Title: Unit 3: Principles in Strategic Management Assessor: Submitted By (Student Name): Student ID: Number of words: 2955 Table of Contents Part 01 2 Introduction 2 I) Strategy Setting Process 2 II) Elements affecting the plan 4 iii) Future Directions 6 Part 02 7 2.1) Strategy Implementation 7 2.2) Plan for the Stakeholders. 8 Part 03 9 Part 04 11 Introduction 11 4.1) Action Plan for an operational area 11 4.2) Effects of a Change of an Operational Area 11 References 13 Web References 14 Part 01 Introduction A strategy is a must element which must get right from the beginning. A strategy will involve setting up the most important driving guideline to achieve an organisational plan or an organisational objective. Therefor a thorough understanding of organisational reach to strategy setting process and the strategic elements setting process. The underneath answers will provide the guidelines to the highlighted problems of current processes and the possible processes along with a future amendments to them with examples. About the Company History of the company. Products/Services they offer. Customer segments it serves. Competitors Vision and mission of the company and the strategy of it Business Philosophy Organisational Structure Growth of the company...
Words: 3585 - Pages: 15
...Institution: Table of Contents Executive summary 1 1.0 Introduction 1 1.1 Background 1 Situation Analysis 2 2.1 Strategic pillars to ensure continued success and growth 2 2.1.1Producing environmentally suitable products 2 2.1.2Making new models and modifying existing models 3 2.1.3 Employing competent and robust leadership 3 2.1.4Ensuring sustainability in maintaining future success 3 2.2 Internal performance 4 2.3 Performance indicators 5 2.4 Industry perspectives 6 2.5 External factors 8 Problem Analysis and Description 9 Solutions, evaluations and recommendation 11 4.1 Diversify their products 11 4.2 Aggressive advertisement locally and internationally 12 4.3 Improve plant efficiency 12 4.4 Recommendations 13 Implementation Plan 13 Success Metrics 14 Bibliography 16 Appendix 18 Executive summary 1.0 Introduction Harley-Davidson Company is an American automotive company that specialises in producing motorbikes founded in 1903. It is located in Milwaukee, Wisconsin in the United States. Harley Davidson is one of the most robust and financially strong companies with over 5900 employees and sales reaching $6.23 billion (Forbes, 2015). The company manufactures and sells heavyweight motorcycles and motorcycle parts, accessories, general merchandise. They also offer other related services like financing retailers and insurance. 1.1 Background Globally the company has shown remarkable competitiveness...
Words: 5291 - Pages: 22
...reflected some kind of a visual change apart from changes in any other element. We have analyzed ten inflexion points ranging from mergers and acquisitions to business re-orientation to changes in organizational culture and how these factors necessitate changes in corporate identity. Based on this we have proposed a model which showcases the growing impact of these factors over time and how the occurrence of World events has intensified the ‘change factors’ which in turn are putting all the more pressure on corporations globally to reconsider their identity. The intensity of these factors would vary from industry to industry, with each industry having a different lifecycle. The model brings out the paradox of shortened lifecycle of corporate identities which itself poses an extraordinary challenge to companies for effectively elongating and managing their identities. Changing ones corporate identity is not only an expensive affair but can also create dissonance in the minds of the stakeholders, if not managed and communicated properly. In order to succeed companies will have to exercise tremendous clarity of thought and understand their purpose of existence. Table of Contents 1. Corporate Identity : Concept and Purpose 2. Corporate v/s product brand identity 3. Corporate Identity Elements 4. Reasons for change : Strategic Inflexion Points 4.1. 4.2. 4.3. 4.4. 4.5. 4.6. 4.7. 4.8. 4.9. 4.10. Change in Technology (Case Study : Intel; Kodak) Change in...
Words: 6689 - Pages: 27
...(Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive Advantage (Chapter 4) How to Keep the Salsa Hot (Chapter 5) Developing a Global Strategy (Chapter 6) Comparing Vertical Integration Strategies (Chapter 7) ● Identifying News Corp’s Strategies (Chapter 8) ● Speeding Up Product Development (Chapter 9) ● ● ● ● ● ● ● ...
Words: 223966 - Pages: 896
