- Briefly describe your plan for executing your business plan after you receive the resources.
- Describe your venture’s plans to act as an adaptive organization.
- What mechanisms will you use to instill ethical behavior in your venture?
- Describe the key business processes used by your venture.
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· The execution of a business plan is critical to the success of a company. The team knows what needs to be done. The next step is to agree on how it is going to happen. The team sets short-term goals and priorities, and then assigns tasks to individuals. Rewards and recognition are linked to on-time performance. Missing deadlines is costly. Good execution is based on clear priorities, good assumptions, and constantly monitored performance.
· In order for my company to act as an adaptive organization it needs to be a learning organization which captures, generates, shares, and acts on knowledge by revising its strategy as new knowledge becomes available; that changes its strategy or business model as the conditions of the marketplace require.
· One of the methods to instill ethical behavior is to let everyone in the company know a common moral rule: do no lie. Ethics are a set of moral principles for good human behavior. Ethics provides the rules for conducting activities in a manner acceptable to society. Good ethics and self-interest usually coincide, since we want to develop and maintain a high reputation. A corporate model of integrity is based on ethical principles embedded in the corporate culture so that all stakeholders can conduct business to attain mutual benefits. A firm’s integrity cannot be sacrificed to short-term gain.
· Key business processes used by my venture will be common business processes as below:
