Strategic Plan Part I: Proposal of a New Division
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. 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
Reference: David, Fred R. & David, Forest R. (2017). Strategic Management: A Competitive Advantage Approach, Concepts and Cases (16th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
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.
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 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 value 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.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.