Running Head: Lemonade StandBusn 115 week 3 Assignment: Lemonade Stand Part 1BUSN 115 WEEK 3 ASSIGNMENT: LEMONADESTAND, PART 1Week 3: LEMONADE STAND, PART IBackground As you have read about in our lecture, we have used a lemonade stand to help usunderstand some basic concepts of business. As we pointed out, a lemonade stand has a simplebusiness structure; yet, it can help us understand almost every function of a firm; such asmarketing, operations, finance, technology, entrepreneurship and many other aspects. In our twoassignments in this course, you will own and operate your very own lemonade stand as youapply the knowledge you have learned from the course. Scenario You have decided to open alemonade stand in your local neighborhood. You have grand plans for this stand and expect toattract many customers. In part I of this assignment, you will develop the basic premise of yournew company. Please answer the following questions, utilizing the textbook, to ensure you applythe lesson we have learned in the previous weeks. - Develop a creative name for your LemonadeStand, 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 missionstatement is important for any company? - You are very involved in your community; pleaseoutline your CSR plan (Chapter 4) for your business. - The textbook lists many different types ofpricing strategies, please pick one ...
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