BUS 475 Week 2 Strategic Plan Part 1: New Product or Service

Write a 1,050- to 1,400-word paper in which you explain the importance of innovation in your selected 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 (Core Requirement). The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service. The new product or service must be from your own imagination, meaning that I cannot be a product or service that is already offered by the selected business.

• 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.