Key Term: A start-up is a new business enterprise, formed by one or more entrepreneurs.
Entrepreneur:
- A catalyst for the creation and growth of a business
- fulfil their dreams
- calculated risk taker
- organise all the resources
- find and fill gaps in the market
Case Study: Olio
An app that deals with improving waste management in the modern world.
- Part of the solution
- about carbon footprint, ethics, net 0, level target
- app - tackle waste by connecting neighbours
- 30,000+ volunteers
- Food in 21 minutes (people can send and receive food for free within this time)
- Nonfood less than 2 hours (same as food, but for shampoo etc etc)
- Founded by Tessa Clarke
Aims:
- improve the app
- B-B proposition
- international expansion
- 1 billion user by 2030
Involving restaurants, supermarkets, food distributors to reach net 0 waste
- 6 million users
- Their aim is for their customers to be part of the solution, and not just contribute, as to make the system a whole lot stronger and to bring about awareness of food waste.
Key Term: A mission is a qualitative statement of the business aims.
Key Term: An aim is a long term plan from which objectives are derived.
Key Term: An objective is a target which must be achieved in order to realise the stated aim. A time assigned target is derived from the goals and set in advanced of strategy.
The mission statement is the overriding goal of the business. The reason for the business’s existence. A strategic perspective or a vision for the future. Excites, inspires, motivates and guides.
Continued in Business Objectives
Mission Statements Homework
1: Netflix
We promise our customers stellar service, our suppliers a valuable partner, our investors the prospects of sustained profitable growth, and our employees the allure of huge impact.
2: McDonald’s
Our mission is to make delicious feel-good moments easy for everyone.
3: Coca Cola
to refresh the world in mind, body, and spirit, to inspire moments of optimism and happiness through our brands and actions, and to create value and make a difference.
4: Google
to organize the world’s information and make it universally accessible and useful.
5: Amazon
We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience.
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