Strategic mind map
SCENARIO
You have decided to open a cupcake bakery and move your home-based business into a storefront. Recently, you met with SBA National, a non-profit, that focuses on helping entrepreneurs start their business with funding and guidance. The non-profit also hosts a business pitch competition to anyone who is a client. One of the requirements of the SBA business pitch competition is that each participant must fill out a Strategic Mind Map to capture the strategic plans for your business.
INSTRUCTIONS
Fill in the following details for your business using the Strategic Mind Map template (The information must be filled out on the outside of the circles not the inside):
Define your business model (this must be defined on your map)
Identify your strategic position in the market (provide rationale as to why this gives you an advantage)
Identify your internal factors effects and external factors effects (EFE & IFE) (both need to be labeled on the map with some explanation)
Identify your short and long-term goals (these must be labeled on the mind map)
Execution steps for your plan (put your priorities in order on the mind map of what you need to do first)
Key performance metrics (make these quantifiable, measurable, and percentage based)
In the same Word document as the template (or copy and paste the template into a new Word document) do the following:
Outline how the company will use the strategic planning process.
Based on your analysis and research, make a recommendation on how you could use this in your proposal.
Provide attribution for credible sources.
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