Red Hub – Small Business Start-Up Strategy

Introduction to Strategy

Chapter 1: Strategy For Small Business

8 Topics

Chapter Outcomes

1. What is a Strategy

4. SWOT Analysis

5. Sustainable Competitive Advantage

6. Key Success Factors

7. Competitive Analysis

Appendix A: Mission and Vision Worksheet

Appendix B: SWOT Analysis Worksheet

Appendix C: Sustainable Competitive Advantage Worksheet

Appendix D: Competitors Analysis Worksheet

APPENDICES E: SELF-ASSESSMENT MODEL ANSWERS

Self-Assessment Questions

3. Mission

Red Hub – Small Business Start-Up Strategy Chapter 1: Strategy For Small Business 3. Mission

Think Point

Think about the mission statement you have created in your personal life that assists you in achieving your vision.

Figure 1.5 What is a mission statement?

Mission

A mission statement is a concise explanation of the organisation's reason for existence. It describes the organisation's purpose and its overall intention. The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors, and other stakeholders.

Tasks

While working through this example, prepare your own Mission Statement in the appendix at the end of this module.

Figure 1.6 Example of a Mission Statement

Case Studies

Watch the following video to gain more insight into the meaning of a Mission Statement.

3. Mission