Conceptualizing a Business - Bus 475

Topics: Strategic planning, Business terms, Business Pages: 4 (1098 words) Published: October 6, 2010
Conceptualizing a Business
Mathew Lambert,
BUS 475
Professor Robert Bergman
September 29, 2010

Business Cents is a newly opened company located in Peterborough, New Hampshire. Business Cents offers tax preparation services as well as services to help prepare for taxes such as bookkeeping, accounting, and account auditing for small businesses as well as individuals. During the development of Business Cents, or any businesses strategic plan, various determinations must be made in order to create a solid foundation to build upon. A mission and vision statement is developed, principles and values are determined, customers’ needs must be determined with a plan to meet them, and lastly a competitive edge or business differentiation must be discovered and applied. The following will provide information on the development of Business Cents strategic plan and the factors considered during the business development and start-up stages. Mission and Vision – The Beginning

Business Cents began preparation by developing a mission statement. A mission statement defines what sets a company apart from another and identifies the scope of its operations (Pearce J. and Robinson R., 2005, ch 1). A mission statement embodies a company’s philosophies, goals, and ambitions; essentially explaining the reason that the business exists. Mathew Lambert, owner of Business Cents wanted to use his talent and experience to help families and businesses utilize their money appropriately while always being prepared for tax season. The following is Business Cents mission statement:

Business Cents is committed to delivering superior accounting, budgeting, and
tax preparation services to individuals and businesses in the Monadnock Region
of Southern, New Hampshire. Our aim is to act as a trusted provider of personal
financial forecasting and as an extension of our business clients accounting
departments. Business Cents is also committed to providing a professional and

References: Pearce J. & Robinson R., (2005) Strategic Management, 9th edition; McGraw Hill, Boston, MA
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