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Short, intermediate & long term goals- Gift basket business

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Your relative has agreed to provide your special occasion gift basket business with additional funds for start-up costs if you provide additional information regarding your goals and plans or strategies for the success of the business.

Write your relative a letter outlining your short-term, intermediate, and long-term goals for the business; your strategies to achieve these goals; and your tactics for implementation of your chosen strategies.

2-3 short-term goals for the business (goals that are achievable in less than one year)
2-3 intermediate goals for the business (goals that are achievable in one to five years)
2-3 long-term goals for the business (goals that are achievable in five or more years)
What business strategies will you use to reach these goals? Explain your strategy choices. (strategies are the plans to reach the business goals)
What are some of the tactics that you will use to implement these strategies?

I really do not understand what she asking for the difference between a strategy and a tactic

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Short, intermediate and long term goals- Gift basket business

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Dear Relative,
I'm so glad to have heard back from you so soon. I'm also very glad that you have chosen to fund our business. I know that you want to know our exact plans for our short, intermediate and long-term goals, you are also inquiring our plans and strategies that helped us decide all of the goals. Therefore I have decided to personally write you myself and take you step by step through our goals in a way that we all can understand it. My partners and I have decided that I will be taking care of all the marketing and sales, my partner will be in charge of all the money that has to do with purchasing the product and the Employees pay since she has the experience with accounting, finances and record keeping and our other partner will be in charge of the website and any problems related to the internet and phone service since she has had prior experience in a business of her own. We have also sat down and mapped out the time that we need to achieve our goals.

We have chosen to achieve our short-term goals with in six months to a year from us opening our business; we are planning to establish clients in the davenport and surrounding areas that are interested in purchasing gifts baskets for friends, family, co-workers, bosses, etc. We will be able to achieve this goal with marketing and advertising. We are hopping that these customers will ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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