Week 2 Strategic Plan Part 1 - New Product or Service -
Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. A final paper is due in Week 5. Cite your resources. Note that the Table of Contents listed in the Strategic Planning Outline is not required.
Choose a business in which you will propose a new product or service in a new division of your chosen company. You may find it helpful to review the various strategic management and business models of companies in an industry that interests you, using the IBIS World and Mergent Online databases found in the University Library. Your proposed new product or service division of this company will serve as the context for the Strategic Plan that you will develop during this course.
Write a 1,400- to 1,750-word paper in which you explain the importance of innovation in your chosen business's vision, mission, and values, and determine your business model for this new division. Include the following:
• Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service.
• Describe how the division addresses customer needs and achieves competitive advantage.
• Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
• Explain how the vision, mission, and values of the new division align with the company's mission and vision.
• Summarize how the vision, mission, and values guide the division's strategic direction.
• Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.
Format your paper according to APA guidelines, including at least two cited references in your paper. Write the paper in third person voice.
Click the Assignment Files tab to submit your assignment to the Assignments Section.