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E-Business Description by jyo

E-Business Description by jyo

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Published by j_krovvidi9050

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Published by: j_krovvidi9050 on Mar 11, 2010
Copyright:Attribution Non-commercial


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2. Writing an e-Business plan Description2.1 What is the Business Description
The business description describes the nature and purpose of the businessand includes the firm's mission statement, goals, value proposition, anddescription of products and services.The business description delivers this content in a straightforward andinformative manner, but with an upbeat and inspiration tone. The purpose of the business description is to objectively explain and justify your businessidea in a positive and enthusiastic manner.The business description includes two sections with both required andoptional content. The business concept section includes an industry analysis,the mission statement, business goals, value proposition, and, optionally, theobjectives and business model. The products and services section is aconcise description of what the business will sell or deliver to the customer.
2.2 Business Concept
The business concept section gives the reader the big picture about what the business will do and how it will succeed.Industry analysis: A good way to open this section is with a brief industryanalysis. An industry is a group of businesses that manufacture, distribute, or sell similar projects or services.An industry analysis defines the industry in which the business will operate(e.g., retail, information distribution, financial services) and uses reliable andobjective data to show the future prospects of the industry and, byimplication, the business.Sources of information for the industry analysis include research companiessuch asDun & Bradstreet,Standard & Poor's Investor Services, and theRisk   Management Associationwho publish business directories and industrysurveys. Trade and industry journals publish articles that include quantitativedata, trend analysis, and influential environmental factors that are affectingtheir respective industry sectors. These resources will be available in mostuniversity libraries.
However, in most e-business plans, the industry analysis does not have to bevery extensive. Generally, one page should be enough, perhaps two pages if graphs or tables are included. Remember, this is a business plan, not anindustry plan, so briefly analyze the industry and then move the reader'sattention from the big industry picture to the smaller business picture.
2.3 Mission statement:
With the big industry picture in the reader's mind, narrow the focus to your  business. After a few words of introduction, state the mission of your  business and provide a brief justification and explanation about theimportance of this mission, perhaps in light of the industry analysis just presented. Or, in the business case, explain how the e-business initiative willcontribute to the fulfillment of the company's mission.A mission statement is a declaration of what a business aspires to be. Thiscan be an intimidating exercise, especially if your business idea is still beingformed in your own mind. It is also an important exercise because themission statement appears early in the plan and is a starting part for definingthe business and writing the plan.TheMission Statement lessonprovides explicit instructions to write themission statement and illustrates the process with sample missionstatements.

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