MEEN 5800 Section(s) 041 and MEEN 4800 Section(s) 040 (Fall 2024 1)

Assignment 3 (Vision, Mission, and Business canvas model)

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INDIVIDUAL WORK

Objective: Identify and analyze the vision, mission, and business canvas model of a company selected in Assignment 1. This task will encourage critical thinking about how companies define their purpose, direction, and strategy for generating revenue.

Instructions:

Vision and Mission Statements:

Research and document the vision and mission statements of your selected company.

If the company does not have an explicitly stated vision or mission, provide a brief analysis of what you believe the vision and mission are based on the company’s public communications and strategic actions.

Explain the purpose of the vision and mission. How do they align with the company’s goals and strategies?

Business Model :

Describe the company’s business model. Identify how the company generates revenue, its key customers, core value propositions, and key resources.

Include relevant components such as the customer segments, revenue streams, channels, and cost structure.

Use a Business Model Canvas to organize your findings.

Analysis and Alignment :

Analyze how the company’s vision and mission are aligned with its business model. Do these elements support each other in a coherent strategy?

Discuss how the company’s mission drives its business operations and decision-making.

Provide specific examples of actions, products, or services that demonstrate this alignment.

Entrepreneurial Perspective :

Discuss the entrepreneurial mindset of the company. Does the company demonstrate innovation in its vision, mission, or business model?

Is the company adapting to market trends, customer needs, or technological advances? Provide examples.

Recommendations:

Based on your analysis, provide recommendations for improving or refining the company’s vision, mission, or business model.

Suggest any changes that could help the company achieve better market positioning or operational efficiency.