The Requirements For Business Descriptions
Company Idea and History
- The business description should start with a brief history of the business, starting with the original idea or development. You can discuss the business owner's idea process when establishing the business. The owner created the product or service because he needed it and could not find it elsewhere. Provide a short description of the business owner. Include the owner's academic background and previous experience running a business.
Management and Operations
- Part of the business description includes outlining how the business is operating. This includes the number of employees in the business and a chart of the key members or department managers. If the business description is for a business plan or financial report, include a list of responsibilities or roles for each of the managers mentioned in the operations chart. If the business is small and has four employees, for instance, provide a description of each employee.
Products and Services
- An effective business description describes the business internally, but also what the business offers its customers. This is done by describing how the business is developing products and services that suit the needs of individuals and the market. A detailed business description will outline all the products and services offered by the business and provide a description of the product's target market.
- The business description also should include the mission statement of the business. Now that the reader understands how the business came to be, who is responsible for operating it and what products or services are being offered, the reader wants to know how the business is staying professional and its community goals. The mission statement should capture the essence of the business in terms of its standards for customers and how it separates itself from its competitors.