SCENARIO

You have decided to open a cupcake bakery and move your home-based business into a storefront. Recently, you met with SBA National, a non-profit, that focuses on helping entrepreneurs start their business with funding and guidance. The non-profit also hosts a business pitch competition to anyone who is a client. One of the requirements of the SBA business pitch competition is that each participant must fill out a Strategic Mind Map to capture the strategic plans for your business.

INSTRUCTIONS

Fill in the following details for your business using the Strategic Mind Map template:

Define your business model

• Identify your strategic position in the market
• Identify your internal factors effects and external factors effects (EFE & IFE)
• Identify your short and long-term goals
• Execution steps for your plan
• Key performance metrics

In the same Word document as the template (or copy and paste the template into a new Word document) do the following:

• Outline how the company will use the strategic planning process.
• Based on your analysis and research, make a recommendation on how you could use this in your proposal.
• Provide attribution for credible sources.