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us understand almost every function of a firm; such as marketing,
operations, finance, technology, entrepreneurship and many other
aspects. In our two assignments in this course, you will own and
operate your very own lemonade stand as you apply the knowledge you
have learned from the course.
Scenario
You have decided to open a lemonade stand in your local
neighborhood. You have grand plans for this stand and expect to
attract many customers. In part I of this assignment, you will develop
the basic premise of your new company. Please answer the following
questions, utilizing the textbook, to ensure you apply the lesson we
have learned in the previous weeks.
- Develop a creative name for your Lemonade Stand, and then explain
why a name is important when you are considering branding options?
- Create a Mission Statement for your Lemonade Stand (Chapter 7);
then explain why a mission statement is important for any company?
- You are very involved in your community; please outline your CSR
plan (Chapter 4) for your business.
- The textbook lists many different types of pricing strategies, please
pick one of these and explain how you will deliver on this strategy with
your stand. (Chapter 14)
- Even though you only sell to local customers, you understand that
you could package your lemonade and sell it online globally.
Evaluate whether or not the company should go global by creating an
online presence and selling your lemonade online (Chapter 3).
Activity