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Conceptualizing a Business: consignment store

Conceptualizing a Business (a consignment store):

Explain the importance of consignment store business' vision, mission, and values in determining your strategic direction. Be sure to do the following (4 items below must be include):

§ Define consignment store, products/services, and customers by developing a mission statement. Ensure that you are differentiating your product or service.

§ Create a vision for this organization that clearly demonstrates your decision on what you want your business to become in the future.

§ Define your guiding principles or values for the consignment store business considering the topics of culture, social responsibility, and ethics.

§ Explain the importance of the vision, mission, and values in determining strategic direction.

****** Be sure to properly cite your references. If you used an electronic source, include the URL. If you used a printed source please attach a copy of the data to your paper.

Solution Preview

§ Define consignment store, products/services, and customers by developing a mission statement. Ensure that you are differentiating your product or service.

A consignment store is a shop that sells second hand goods at a low price. Many consignment stores offer new products as well.

My consignment store will offer the largest, unique and high quality used products to customers at affordable prices. I will differentiate my store from other consignment stores not only in terms of selection and range of products that would include everything from antiques to clothing, equipment, house wares, and computer stuff to anything that can be sold as a used product.

My store will have online presence as well, where prospective customers can look for the available products along with pricing and order online as well.

A unique feature about my store will be that all used products will come with a quality assurance from our side. The customers will be given assurance that all products sold in our store are accepted from sellers after strict quality check.

My store's mission:

To offer the largest, most unique and highest quality collection of used products under one roof at competitive prices, coupled with unparalleled customer and after sales service and quality assurance to provide unique shopping experience to customers.

Therefore, the key differentiation strategy will be to offer unique and wide range of products at affordable rates ...

Solution Summary

Explain the importance of consignment store business' vision, mission, and values in determining your strategic direction.

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