Individual Assignment 03: Create A Personal Business Plan
Business Plan Mission Statement: By ensuring equality, courage, and hard work through all aspects of life I will be a strong leader of my company. As an active listener and being creative with team members, I will pursue the best possible outcome for the company as a whole. I will strive for equality in all aspects of the work environment so that everyone will balance each other out and work well together. The wise use of my networks will also help my business grow and be successful.
Business Environment: The industry I will be competing in is the Political Science Field. Politics is something that is used and seen all around the world. Though it may be used in different ways, politics still has a great impact on so many people in society. Since this industry is utilized in many different aspects globally, depending on where in the world politics occurs, different things can change the environment people are living in. The United States is a representative democracy where citizens elect representatives to national, state, and local government to create laws and benefit society in the US specifically. (Boundless) Other countries in the world might have different political systems like England. England's government is a constitutional monarchy, which combines a monarch head of state with a parliamentary system. As our last guest speaker Tim talked all about systems, he showed how systems are literally everywhere in the world. Tim explained how a system is a set of connected things or parts forming a whole of something like the different parts of government. Since this industry is utilized throughout the world, the system of it actually helps the world run and is a big part of society. The economic forces that influence this industry include things such as how many representatives might be running for office or the pay some politicians may get can change if they want to continue in this field or not. There are also different levels in power of positions in this industry which can be an economic force to influence the supply and demand. As there are many positions that need to be filled every couple, or few years, there is a demand for representatives. But the supply given and the amount of individuals running for office might depend on the area they are running and the position they are running for. There is usually competition during elections in the US because so many people are running for the same position. As of 2016 there have been 2,785 jobs available in the federal government and about 19,427 jobs in the state and local government according to Bureau of Labor Statistics. With this many job opportunities in this industry, it is great but it can be challenging because you may not be able to obtain the job you get in this field due to re-elections. Though there are many opportunities, the percentage of jobs hiring in this certain major (Social science) and discipline is 14.3%. But compared to business which is used in almost all fields in some way, there is a 72.3% of being hired which makes the political industry look very small. (Job Outlook)
Entrepreneurship and Strategy:
As the CEO of the startup Company Me, some challenges I might face could entail sticking out amongst others in the same industry. When applying to jobs and having background in politics, I must stand out to employers so that I get the job against others doing the same thing. A big competition with this is specifically running for office. So when I run for a certain position I not only need to have the right background and experience for the job, but I also have to convince all of the citizens around me to vote for me and not the people competing against me. By standing out and showing how much more things I can do better than my competition, it will help me go far in my industry and continue to be successful. Another challenge I could face is with the external marketing environment. These include factors outside the political industry that might require shifts in the marketing plans I would have. (Collins 10.9) Specifically in my industry these factors could include changes in the law or legislation being made. As well as change in society and what citizens want to change or stay the same in society. Being a representative means I will be the voice for the people in my district or just citizens of America, and needing to listen to the want and needs of the citizens is very important. It can be so challenging when peoples beliefs disagree with one another and I have to be the deciding voice. Or if I am running and need to pick a political party or have beliefs and values that coincide with the citizens around me, it can be extremely difficult when people disagree with me and then don't vote for me or support the decisions I make. In this industry promoting, and selling product me is truly being open about my beliefs and values to the public so that they know why they should vote for me or trust me to represent them. By using advertisement and flyers or posters I can promote myself. But some challenges with that could be people taking them down or ruining them because they don't agree with my values. And by selling myself or talking to the public and meeting one on one or with groups in society could be very helpful to company me but could also start up conflicts with people who strongly disagree with me as a representative. Starting out as an entrepreneur I definitely use the skills I previously explained with promoting and selling to also help me move forward in the industry. By having quick advertisements about me and what I want to do in this industry could make a big impact on the general public. I think the biggest impact I can make as a Startup is talking to people face to face and telling them why I am the best candidate for the job. Being expressive with my goals and values of Company Me is very important for people to see so they know why they can trust me and come to me to solve issues.
Management:
As the General Manager of Company Me, I would plan out my entire business plan and mission statement like I already did to make it known what my goals and objectives are. I intend to organize Company Me by making it very clear and direct what everyones job is and what they entail. I will plan meetings once a week or once a month depending on who it is with in the company and what projects are being worked on so that I can keep everyone on track and help anyone in anyway possible. I will also be very direct in what I expect from myself and others so that as whole, Company Me can actually have an impact on people and make a difference in the world. As a strong leader I will help direct people what to do but with that, I will ensure there is a lot of freedom in the company to be creative and intuitive for the needs to be successful. With that, listening and being brave are very important aspects to this company. Being able to listen is important so that all minds can work together to find the best possible solution to things; and being brave in my decisions is also very needed so that they are set in stone. Being brave in decisions for a company is also very encouraging to the other employees and for the public to see so that they are confident in the company itself and what it stands for. Having goals every single day will help keep employee me on task. Having goals that I can accomplish will also motivate me each day. Being a leader and knowing that others and myself rely on me to get things done is motivational in itself and will really help me make my company successful. I have very good communication skills and am always on top of stuff that is inclusive with other individuals and teams. I can sometimes procrastinate when it is only affecting myself, but working with a team truly makes me hold myself accountable. Having past leadership experiences has really shaped me into the leader I am today and will help me as the General Manager of Company Me. One big take away in "Managing Oneself" by Peter F. Dunker was making sure that you stay engaged in everything you do. Whether it is listening to co-workers like I previously explained, or staying on task with what I myself is doing. It is extremely important to stay engaged and focused. Being a General Manager really means stepping up and not only being a good role model, but being very aware of everything around me.
After reading "7 Traits of Super-Productive People" by Jack Zenger and Joseph Folkman, I realized how much it coincided with what I have previously said about meetings and working with a team. The article mentioned to show consistency whether it is through meetings every week, when due dates are for employees and myself, or if it is the way I present myself to others and the words I use. I learned that it is very important to be consistent so that there is a clear line of communication between co-workers and bosses/managers.
Marketing:
As the CMO of Company Me I would promote Product Me by having face to face connections with the public and people I am networking with. Working in smaller groups helps me directly organize what needs to be done by who which would be the most effective way to promote me and run a successful company. And then by having those individuals I meet with pair off into other groups to get the assigned tasks done would be the best way of completing what needs to get done. My potential customers might include other politicians, the general public, and the people that are along side of me working. They all have an impact on what I do and why I do it which means I have a big impact on them as well. My marketing mix and Four Ps would include the product which is myself and what I have to offer. The product would be why I am useful and attract the customers who are intrigued in what I do. Being collaborative and looking for the best possible outcome is part of what the product stands for and gives the public a sense of what they will receive when investing (or voting) for product me. Another P is the Price, which is really the risk taken on the product. The price can deal with money, but it can also deal with time and trust into the product hoping for the best outcome. Being a Representative or having Company Me could lead to a lot of people having their trust in me to represent them the right way. They are expecting certain things from the product they take a risk on and hope to receive benefits from me. Another P is place, which would deal where I am located, what district I would represent, and who would be affected by where they live, due to the decisions that I might make. The last P is Promotion which again is how I will promote Product Me to the public. By going out in public and talking about what I stand for, or listening to individuals and different groups talk about the problems they face in society. Showing what kind of leader I am can be seen through what I say to people, but also through my actions of listening to the needs of society, and then acting upon them to be part of the solution. My being true to my outgoing self and getting to know many people I am developing Product Me. My progressive with the times, and staying innovative with my thoughts, values, and what I have to offer is key in attracting potential customers. Digital marketing skills can be very helpful in promoting Product Me and that can be done on all forms of social media, like twitter, instagram, facebook, snapchat, etc. LinkedIn is also a very intuitive way of promoting Product Me as it has all of my experience and what I have to offer customers right on my page. By keeping all of these digital marketing skills updated and interacting with people on them, I can really promote Product Me in the best way.
Accounting and Finance:
Assets:
Cash: $20,000
Inventory: $15,000
Building: $90,000
Liabilities:
Amount used for trial projects: $20,000
Loans: $40,000
Owner's Equity:
Earnings: $25,000
Total Assets: $125,000
Total Liability + Owner's Equity: $85,000
As the CFO of Company me I plan to pay attention to the news and my opponents especially. I would keep track of the districts and people that do not support me and the customers that do invest in me. By keeping track of both sides I can stay up to date with all of their needs and what I can do to either keep the supporters supporting me, or try to get some of the other people to start supporting me. I can also manage how much money I am spending and how many donations are being given to help support my campaign and Company Me. Knowing what funding I am receiving can be very helpful in making sure that money is being used for the certain reasons. Creating a financial plan and help me keep track of how well I am doing in this industry or what work needs to be done so that I can excel. By having a financial plan that keeps me on track with spending that is going into the company and what promotions are working or not will make sure I do not go over budget and in a stupid way. Another way to utilize the financial plan can be with investments. By investing in the right bonds, or even organizations can help my company me successful in the long run.
Information Systems and Operations:
As the CIO of Company Me, the information systems tools and analytics I would utilize would be a wide range of things like, data and business processes analysis. Data can be used in many different ways such as with Collect Data, and then Analyzing Data. Collecting Data will be done through exit polling, surveys, and voting in general. Seeing who people are voting for is a collection of data and then seeing why they did so is analyzing that data. By analyzing data it can be very useful to me and my co-workers in seeing why people are voting the way they are, why they choose to be part of certain parties or not, and what problems they feel are most important in society or what values they strongly agree and disagree with. Another information system tool I would consider using to optimize my productivity and operational efficiency would be the business process analysis. As Dr. Chung explained how analyzing the business process and workflows are very important in class shows me how I can find out how Company Me can be improved or changed in certain ways. Analyzing different aspects of Company Me and learning from the data shown or past experiences can be very helpful in figuring out what to do better moving forward. Seeing the data behind people's votes and values can help me cater to societies needs, and analyzing what I have done with Company Me in the past to grow from it will really influence how I approach things from now on.
Collins, K. (n.d.). Exploring business. Washington, D.C.: Saylor.org.
Drucker, P. F. (2016, October 17). Managing Oneself. Retrieved from https://hbr.org/2005/01/managing-oneself
Employment by major industry sector. (2017, October 24). Retrieved from https://www.bls.gov/emp/tables/employment-by-major-industry-sector.htm
Folkman, J. Z. (2018, July 08). 7 Traits of Super-Productive People. Retrieved from https://hbr.org/2018/04/7-traits-of-super-productive-people?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist&referral=00202&deliveryName=DM4392
Job Outlook: The Degrees and Majors Most in Demand. (n.d.). Retrieved from http://www.naceweb.org/job-market/trends-and-predictions/job-outlook-the-degrees-and-majors-most-in-demand/
Business Environment: The industry I will be competing in is the Political Science Field. Politics is something that is used and seen all around the world. Though it may be used in different ways, politics still has a great impact on so many people in society. Since this industry is utilized in many different aspects globally, depending on where in the world politics occurs, different things can change the environment people are living in. The United States is a representative democracy where citizens elect representatives to national, state, and local government to create laws and benefit society in the US specifically. (Boundless) Other countries in the world might have different political systems like England. England's government is a constitutional monarchy, which combines a monarch head of state with a parliamentary system. As our last guest speaker Tim talked all about systems, he showed how systems are literally everywhere in the world. Tim explained how a system is a set of connected things or parts forming a whole of something like the different parts of government. Since this industry is utilized throughout the world, the system of it actually helps the world run and is a big part of society. The economic forces that influence this industry include things such as how many representatives might be running for office or the pay some politicians may get can change if they want to continue in this field or not. There are also different levels in power of positions in this industry which can be an economic force to influence the supply and demand. As there are many positions that need to be filled every couple, or few years, there is a demand for representatives. But the supply given and the amount of individuals running for office might depend on the area they are running and the position they are running for. There is usually competition during elections in the US because so many people are running for the same position. As of 2016 there have been 2,785 jobs available in the federal government and about 19,427 jobs in the state and local government according to Bureau of Labor Statistics. With this many job opportunities in this industry, it is great but it can be challenging because you may not be able to obtain the job you get in this field due to re-elections. Though there are many opportunities, the percentage of jobs hiring in this certain major (Social science) and discipline is 14.3%. But compared to business which is used in almost all fields in some way, there is a 72.3% of being hired which makes the political industry look very small. (Job Outlook)
Entrepreneurship and Strategy:
As the CEO of the startup Company Me, some challenges I might face could entail sticking out amongst others in the same industry. When applying to jobs and having background in politics, I must stand out to employers so that I get the job against others doing the same thing. A big competition with this is specifically running for office. So when I run for a certain position I not only need to have the right background and experience for the job, but I also have to convince all of the citizens around me to vote for me and not the people competing against me. By standing out and showing how much more things I can do better than my competition, it will help me go far in my industry and continue to be successful. Another challenge I could face is with the external marketing environment. These include factors outside the political industry that might require shifts in the marketing plans I would have. (Collins 10.9) Specifically in my industry these factors could include changes in the law or legislation being made. As well as change in society and what citizens want to change or stay the same in society. Being a representative means I will be the voice for the people in my district or just citizens of America, and needing to listen to the want and needs of the citizens is very important. It can be so challenging when peoples beliefs disagree with one another and I have to be the deciding voice. Or if I am running and need to pick a political party or have beliefs and values that coincide with the citizens around me, it can be extremely difficult when people disagree with me and then don't vote for me or support the decisions I make. In this industry promoting, and selling product me is truly being open about my beliefs and values to the public so that they know why they should vote for me or trust me to represent them. By using advertisement and flyers or posters I can promote myself. But some challenges with that could be people taking them down or ruining them because they don't agree with my values. And by selling myself or talking to the public and meeting one on one or with groups in society could be very helpful to company me but could also start up conflicts with people who strongly disagree with me as a representative. Starting out as an entrepreneur I definitely use the skills I previously explained with promoting and selling to also help me move forward in the industry. By having quick advertisements about me and what I want to do in this industry could make a big impact on the general public. I think the biggest impact I can make as a Startup is talking to people face to face and telling them why I am the best candidate for the job. Being expressive with my goals and values of Company Me is very important for people to see so they know why they can trust me and come to me to solve issues.
Management:
As the General Manager of Company Me, I would plan out my entire business plan and mission statement like I already did to make it known what my goals and objectives are. I intend to organize Company Me by making it very clear and direct what everyones job is and what they entail. I will plan meetings once a week or once a month depending on who it is with in the company and what projects are being worked on so that I can keep everyone on track and help anyone in anyway possible. I will also be very direct in what I expect from myself and others so that as whole, Company Me can actually have an impact on people and make a difference in the world. As a strong leader I will help direct people what to do but with that, I will ensure there is a lot of freedom in the company to be creative and intuitive for the needs to be successful. With that, listening and being brave are very important aspects to this company. Being able to listen is important so that all minds can work together to find the best possible solution to things; and being brave in my decisions is also very needed so that they are set in stone. Being brave in decisions for a company is also very encouraging to the other employees and for the public to see so that they are confident in the company itself and what it stands for. Having goals every single day will help keep employee me on task. Having goals that I can accomplish will also motivate me each day. Being a leader and knowing that others and myself rely on me to get things done is motivational in itself and will really help me make my company successful. I have very good communication skills and am always on top of stuff that is inclusive with other individuals and teams. I can sometimes procrastinate when it is only affecting myself, but working with a team truly makes me hold myself accountable. Having past leadership experiences has really shaped me into the leader I am today and will help me as the General Manager of Company Me. One big take away in "Managing Oneself" by Peter F. Dunker was making sure that you stay engaged in everything you do. Whether it is listening to co-workers like I previously explained, or staying on task with what I myself is doing. It is extremely important to stay engaged and focused. Being a General Manager really means stepping up and not only being a good role model, but being very aware of everything around me.
After reading "7 Traits of Super-Productive People" by Jack Zenger and Joseph Folkman, I realized how much it coincided with what I have previously said about meetings and working with a team. The article mentioned to show consistency whether it is through meetings every week, when due dates are for employees and myself, or if it is the way I present myself to others and the words I use. I learned that it is very important to be consistent so that there is a clear line of communication between co-workers and bosses/managers.
Marketing:
As the CMO of Company Me I would promote Product Me by having face to face connections with the public and people I am networking with. Working in smaller groups helps me directly organize what needs to be done by who which would be the most effective way to promote me and run a successful company. And then by having those individuals I meet with pair off into other groups to get the assigned tasks done would be the best way of completing what needs to get done. My potential customers might include other politicians, the general public, and the people that are along side of me working. They all have an impact on what I do and why I do it which means I have a big impact on them as well. My marketing mix and Four Ps would include the product which is myself and what I have to offer. The product would be why I am useful and attract the customers who are intrigued in what I do. Being collaborative and looking for the best possible outcome is part of what the product stands for and gives the public a sense of what they will receive when investing (or voting) for product me. Another P is the Price, which is really the risk taken on the product. The price can deal with money, but it can also deal with time and trust into the product hoping for the best outcome. Being a Representative or having Company Me could lead to a lot of people having their trust in me to represent them the right way. They are expecting certain things from the product they take a risk on and hope to receive benefits from me. Another P is place, which would deal where I am located, what district I would represent, and who would be affected by where they live, due to the decisions that I might make. The last P is Promotion which again is how I will promote Product Me to the public. By going out in public and talking about what I stand for, or listening to individuals and different groups talk about the problems they face in society. Showing what kind of leader I am can be seen through what I say to people, but also through my actions of listening to the needs of society, and then acting upon them to be part of the solution. My being true to my outgoing self and getting to know many people I am developing Product Me. My progressive with the times, and staying innovative with my thoughts, values, and what I have to offer is key in attracting potential customers. Digital marketing skills can be very helpful in promoting Product Me and that can be done on all forms of social media, like twitter, instagram, facebook, snapchat, etc. LinkedIn is also a very intuitive way of promoting Product Me as it has all of my experience and what I have to offer customers right on my page. By keeping all of these digital marketing skills updated and interacting with people on them, I can really promote Product Me in the best way.
Accounting and Finance:
Assets:
Cash: $20,000
Inventory: $15,000
Building: $90,000
Liabilities:
Amount used for trial projects: $20,000
Loans: $40,000
Owner's Equity:
Earnings: $25,000
Total Assets: $125,000
Total Liability + Owner's Equity: $85,000
As the CFO of Company me I plan to pay attention to the news and my opponents especially. I would keep track of the districts and people that do not support me and the customers that do invest in me. By keeping track of both sides I can stay up to date with all of their needs and what I can do to either keep the supporters supporting me, or try to get some of the other people to start supporting me. I can also manage how much money I am spending and how many donations are being given to help support my campaign and Company Me. Knowing what funding I am receiving can be very helpful in making sure that money is being used for the certain reasons. Creating a financial plan and help me keep track of how well I am doing in this industry or what work needs to be done so that I can excel. By having a financial plan that keeps me on track with spending that is going into the company and what promotions are working or not will make sure I do not go over budget and in a stupid way. Another way to utilize the financial plan can be with investments. By investing in the right bonds, or even organizations can help my company me successful in the long run.
Information Systems and Operations:
As the CIO of Company Me, the information systems tools and analytics I would utilize would be a wide range of things like, data and business processes analysis. Data can be used in many different ways such as with Collect Data, and then Analyzing Data. Collecting Data will be done through exit polling, surveys, and voting in general. Seeing who people are voting for is a collection of data and then seeing why they did so is analyzing that data. By analyzing data it can be very useful to me and my co-workers in seeing why people are voting the way they are, why they choose to be part of certain parties or not, and what problems they feel are most important in society or what values they strongly agree and disagree with. Another information system tool I would consider using to optimize my productivity and operational efficiency would be the business process analysis. As Dr. Chung explained how analyzing the business process and workflows are very important in class shows me how I can find out how Company Me can be improved or changed in certain ways. Analyzing different aspects of Company Me and learning from the data shown or past experiences can be very helpful in figuring out what to do better moving forward. Seeing the data behind people's votes and values can help me cater to societies needs, and analyzing what I have done with Company Me in the past to grow from it will really influence how I approach things from now on.
References:
Boundless. (n.d.). Boundless Sociology. Retrieved from https://courses.lumenlearning.com/boundless-sociology/chapter/the-u-s-political-system/Collins, K. (n.d.). Exploring business. Washington, D.C.: Saylor.org.
Drucker, P. F. (2016, October 17). Managing Oneself. Retrieved from https://hbr.org/2005/01/managing-oneself
Employment by major industry sector. (2017, October 24). Retrieved from https://www.bls.gov/emp/tables/employment-by-major-industry-sector.htm
Folkman, J. Z. (2018, July 08). 7 Traits of Super-Productive People. Retrieved from https://hbr.org/2018/04/7-traits-of-super-productive-people?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist&referral=00202&deliveryName=DM4392
Job Outlook: The Degrees and Majors Most in Demand. (n.d.). Retrieved from http://www.naceweb.org/job-market/trends-and-predictions/job-outlook-the-degrees-and-majors-most-in-demand/
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