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Lesson 7 Introduction Business Model

The document discusses key concepts for starting a business including the business model, business offerings, business goals, vision, mission, objectives, key result areas, and performance indicators. The business model outlines how the company will create value and generate revenue. The core offerings and goals are also important to define. The vision and mission provide long-term aspirations and the fundamental purpose. Objectives are specific, measurable goals that support achieving the vision and mission. Key result areas are critical functions that impact goals. Performance indicators are metrics used to assess business performance.

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15 views14 pages

Lesson 7 Introduction Business Model

The document discusses key concepts for starting a business including the business model, business offerings, business goals, vision, mission, objectives, key result areas, and performance indicators. The business model outlines how the company will create value and generate revenue. The core offerings and goals are also important to define. The vision and mission provide long-term aspirations and the fundamental purpose. Objectives are specific, measurable goals that support achieving the vision and mission. Key result areas are critical functions that impact goals. Performance indicators are metrics used to assess business performance.

Uploaded by

jamace ocio
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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CHAPTER 1

Introduction
B. BUSINESS MODEL

• A business model outlines how a company plans to create and deliver


value to its customers while generating revenue.
• It describes the fundamental logic of how the business operates,
including its target market, products or services, pricing strategy,
distribution channels, and revenue streams.
• A well-defined business model is crucial for understanding how the
company will achieve profitability and sustainability.
C. BUSINESS OFFERINGS

• Business offerings, often referred to as products or services, are the


core offerings that a company provides to its customers.
• These can include physical goods, digital products, services, or a
combination of these.
• It's essential to detail the unique features and benefits of your
offerings in your business plan, along with any competitive
advantages they may have.
D. BUSINESS GOALS

• Business goals are the specific, measurable, and time-bound


objectives that a company aims to achieve.
• These objectives can be short-term (e.g., increasing quarterly sales by
10%) or long-term (e.g., becoming the market leader in five years).
• Goals should align with the company's mission and vision and serve
as a roadmap for success.
VISION

• Vision is a statement that outlines the long-term aspirations and


ultimate goals of a company. It paints a vivid picture of what the
company aims to achieve in the distant future. A well-crafted vision
statement is inspirational and sets a clear direction for the
organization. It provides a sense of purpose and serves as a guide for
decision-making. While it may not be easily quantifiable, it reflects
the overarching ideals and values that the company strives to uphold.
MISSION

• Mission is a concise statement that defines the fundamental purpose


and reason for a company's existence. It explains what the company
does, who its primary customers are, and how it delivers value to
them. A mission statement typically highlights the core values and
principles that guide the company's day-to-day operations. It is more
focused and practical than a vision statement, providing a clear sense
of the company's identity and its role in the market.
OBJECTIVES

• Objectives are specific, measurable, and time-bound goals that a


company sets to achieve within a defined period. Unlike the broader
vision and mission statements, objectives are concrete and actionable.
They represent the steps or milestones necessary to fulfill the mission
and move closer to realizing the vision. Objectives can be both short-
term and long-term and should be aligned with the company's
mission and vision. They serve as a roadmap for the organization,
enabling it to track progress and make necessary adjustments to
achieve its goals.
KEY RESULT AREAS (KRAS):

• Key Result Areas (KRAs) are the critical areas or functions within a business
that have a direct impact on achieving its goals and objectives. These areas
can vary depending on the nature of the business but may include aspects
such as marketing, sales, operations, customer service, and financial
management. Identifying and prioritizing KRAs helps in focusing efforts and
resources on what matters most to the business's success.
PERFORMANCE INDICATORS:

• Performance indicators, often referred to as key performance indicators


(KPIs), are specific metrics or measurements used to assess how well a
business is performing in various aspects. KPIs are quantifiable and track
progress toward achieving business goals. For example, in the context of
sales, a KPI could be the monthly revenue growth rate or the customer
acquisition cost. In marketing, KPIs could include website traffic, conversion
rates, or customer satisfaction scores. Identifying and monitoring KPIs is
crucial for evaluating the effectiveness of your business strategies and
making data-driven decisions.

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