Purpose of Assignment
Students will have the opportunity to research a company and industry to conceptualize forming a new division of an existing company based on a new product or service (or may create a new business venture). The assigned text and Strategic Planning Outline serve as a guide to complete sections of the capstone project each week. This will allow the student to lay the basic foundation for an effective strategic plan. A final plan will be presented in Week 5.
Resources: Strategic Planning Outline and Week 2 textbook readings
Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. A final strategic plan is due in Week 5. Cite your resources.
Develop a minimum 1,400-word proposal in which you explain the importance of innovation in your selected division’s vision, mission, and values, and determine your business model for this new division (or new business venture).
Include the following:
- Propose a new product or service for the new company division/new business venture. The division/business should be customer-focused with an innovative mission statement. Ensure you are differentiating your product or service.
- Describe how the division/business addresses customer needs and achieves competitive advantage.
- Create a vision and a business model for this new division/business that clearly demonstrates your decision on what you want your business to become in the future.
- Explain how the vision, mission, and value of the new division/business 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/business in the context of culture, social responsibility, and ethics.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.